Know-How Exchange : Advertising/PR

Insurance is a tough sale, Jeff. I guess you're learning that.

The fact that you've only been in the business for a couple years means you're competing against some very experienced agents who have been at this much longer than you have. Maybe you can find one or two of them who would take you under their wing and mentor you or at least give you some tips, share experiences, etc.

My dad was an agent for one of the major insurance companies, and it took him about 10-12 years before he was comfortable that he could really earn a living that way. Until he reached that point he just slogged it out, making a lot of cold calls, sending out lots of letters, networking like crazy, etc.

One of the best sources of new business for him was asking current clients to recommend him to their friends/associates. If they were really satisfied that he'd done a good job for them, they were great sources of new leads. Of course, that meant he had to really deliver for the current clients ... to the point where they WANTED to refer him to their friends. And he had to be around long enough to build those kinds or relationships with delighted clients.

With only two years under your belt, it's probably a little early to expect (a) that you have a lot of current [non-family/friends] clients, and (b) that you've had a chance to delight them with your service and value. Net: give it some time and keep at it.

Jeff

My wife and myself run our own mortgage broking business in Australia that has been running now for just over 5 years.

it is now growing very nicely but it wasn't always that way and I remember someone telling me that it would take at least two years to get established and that was so true.

We tried advertising and letter box drops but found it very hard to achieve business this way and decided not to continue with this line of advertising.

Instead, we started to really focus on the clients that we had by aiming to provide them service that was (hopefully) far superior than what they would get elsewhere and in an extremely friendly manner. We instigated a series of email newsletters that we sent out on a regular basis and most importantly, we started asking for referrals.

The timing of this is critical and you really need to be talking about the importance of referrals with clients right from the start.

We also instigated a communication strategy that involved giving our existing clients a call every six months or so and sending our birthday cards with little Instant Lottery cards inside. All part of keeping our name in front of people at all times.

To summarise, look after the clients that you have by providing superior service, keep in touch with them and ask for referrals. Your business is like a tree. When it starts growing it doesn't have many branches but over time, it grows and grows and branches start shooting out all over the place.

Good luck.

Become an expert on your competition, learn what they're doing, their pricing, etc. The next time you then talk to a prospect, you can ask who their insurance is with, and then be able to quickly point to some weaknesses in their policies (that your insurance presumably addresses better).

My husband and I just relocated from CO to GA and are having a dickens of a time with insurance. We had to change everything, business, home, car and health-- because none of our CO providers operate in GA. Finding a responsive agent with a real product was much more difficult than imagined. There is a real void-- everyone assumes insurance is an industry going strictly online. Those online sites were a waste of time. As soon as it got to underwriting-- it was like I had to sell them we were worth their business. And in CO-- the agent I had - once she got the order was never seen or heard from again. I several times said I'd switch just cause someone asked for my business-- or said thank you.

So my advice is -- remember people buy from people. And in this biz, you add a lot of value with the service you provide.

You have to be less passive than you have been. Once a week is too little effort-- you need daily marketing habits. Dropping off cards isn't selling. Sitting down with clients, face to face and in a consultative sell process is.

in today's economy we are evaluating how we spend our money. Why aren't they evaluating what they spend on insurance- from you??

Get on the phone and start setting face to face appts. Find out what it would take to earn the biz. Ask to evaluate their insurance requirements and provide competitive pricing. Join networking groups - things that put you personally in front of people. Go back and ask those friends who handles insurance where they work. Ask your neighbors. Ask the person you are standing next to at the checkout stand.

Be a resource. Do some speaking on "mistakes consumers make buying insurance", "planning for elder care", there are a thousand things you know and the average joe doesn't.

I'd stay forever with the agent who remembered my birthday and sent me a lottery card. (I love that idea) My accountant sends me a book of penny stamps when the stamp rate goes up a penny. My handyman used to leave me a $5 Starbucks gift card. Joe Girard would send monthly cards and annual birthday cards-- he credits those touches to his success. It certainly kept him TOP-- top of mind-- which is where you want to be. When someone thinks insurance-- you want to be on the top of their mind. And you won't automatically get it, you have to earn it.

Sell Well and Prosper tm

Dear jeff,

In a word, hustle.

Link to CPAs, lawyers, loss adjustors, construction companies, carpet cleaning outfits, plasterers, painters and decorators, dry cleaners, jewelry store owners, undertakers, auto repair shops and so on.

You're NOT selling insurance, you're offering peace of mind.

Change your mind set and a whole new world of possibility opens up.

I hope this helps.

Gary Bloomer
Wilmington, DE, USA

Hey Bruce,

THank you very much for the lottery tickets idea :))

Fantastic, :)) I will use it :)) I hope you don't mind.

Matthew

I'm guessing that folks make changes to their insurance policies when they have major life changes--such as having children or retiring. Perhaps you can partner with local obstetric or pediatric clinics, offering a free information session for expecting parents. (Make sure you omit the sales pitch from that; give good, unbiased information. The sales will follow.) If that's not a go, see if you can include a congratulations note (handwritten would be best) and an info sheet within the kits that clinics give to expecting parents.

Tax preparers & retirement communities also see lots of people in the midst of life changes; look for innovative ways to partner.