Where to Begin - Advice for New Insurance Agents

Passing The State Licensing Exam is Easy With InsuranceLeadz.com Pre-Exam Coursework and Training 

Its all about customers. Starting off in the insurance industry can be intimidating and for many agents, they are unable to meet their commission and sales goals at first. Some find it’s a constant struggle to meet their quotas and eventually leave the industry.

The difference between the successful and failed agencies is that the good ones paid close attention to what their customers wanted, they marketed their products relentlessly, and they kept up on available discounts. It seems obvious that taking care of your existing customers is the #1 task for an insurance agent, but its shocking how many agents simply spend all day cold calling and focusing solely on sign-ups.

Customer service is critical in the insurance industry, because your customers have so many available options outside of you. They demand an agent who not only can provide a competitive price, but it always there to answer their support requests and finds them additional discounts when they come available.

Working with so many successful agents here at InsuranceLeadz.com has brought us a unique insider’s perspective. The big agencies all share one thing in common: they grew because they put customers first and sales second.

Building up a book or business (clientele) is critical to an insurance agency, however, building needs to go beyond marketing. Successful insurance agents are always there to support their clients and they actively seek out ways to save their existing clients more money. We hear time and time again from our agents, that if they could go back in time, they would have focused more on customer retention and less on finding new customers.

Passing The State Licensing Exam is Easy With InsuranceLeadz.com Pre-Exam Coursework and Training

Tips for Building Clientele

You need to be as creative as you are ambitious. I was told once by one of our agents, that simply putting a little gold sticker that said, “We Appreciate Referrals!” on all outgoing customer letters, yielded a 20% increase in customer referrals. That showed me that the tiniest little marketing experiment, can really pay off.

To be a successful insurance marketer, you will typically use several standard marketing channels.

• Direct Mail - It may seem like direct mail is an “old school” approach to marketing, but the numbers still speak for themselves that direct mail works.
• Postcard - Save yourself postage by sending postcards instead of envelopes. They can also be printed in large bulk quantities and then split up into multiple series of mailings so you can better track your return on investment.
• Flyers - Print up flyers to distribute around your local area, doorsteps, cars, stores, and restaurants. Check local laws before posting in public areas, as you may face fines otherwise.
• Newspaper - Surprisingly effective even with subscription levels going down nationwide.
• Cold Calling - That dirty little word that still works. Telemarketing may have a bad reputation, but the majority of agents we work with rely on it to find new customers.
• Door-to-Door - Our least favorite way to marketing, but effective none the less. Make sure to bring your flyer, business card, and a some pamphlets with you.
• Magnets - Always include a magnet in your mailings if you can afford it. There is a reason why magnets are so popular in marketing, people love to put them on their refrigerator!

It takes time to start building sales. Anyone in the sales industry will tell you that it takes quite a while for your solicitations to start paying off. The key to keeping a solid pace of making new customer contacts is to layout a schedule that you can realistically maintain. Maybe for you that is mailing 50 letters per week, 25 calls per day, and passing out 100 flyers door to door each week. Whatever your marketing schedule is, just make sure you maintain it each and every week.

Passing The State Licensing Exam is Easy With InsuranceLeadz.com Pre-Exam Coursework and Training

Every Customer You Acquire and Retain can Lead to 20 More

Referrals have been and will always be the key to the successful insurance agent. Our agents tell us time and again that they have signed up one client, only to have that client bring in another 2-3 people within the first 6 months. If you make your insurance customers happy, they will gladly recommend you to their friends and family when given the opportunity.

Each customer you sign-up and retain, can be the beginning of a long and prosperous chain reaction of referrals. This is why I stress the importance customer retention so much in this industry. To get started, typically you will not need to look farther then your own friends and family.

Then move onto your new clients and ask them if they know anyone that may be interested in your insurance services. Don’t brush this off by thinking they will reject your request outright. You will be pleasantly surprised when you find clients who are more then happy to refer you to their friends and family.

Passing The State Licensing Exam is Easy With InsuranceLeadz.com Pre-Exam Coursework and Training

How to Compete in a Highly Competitive Localized Market

While the standard marketing practices I listed above are still quite effective, the internet has changed the way insurance shoppers find new policies. It has become a requirement for an a new insurance agent entering the market to consider building their online presence. Whether this means simply having an email for sales and support, or actually building a website, the internet can be a fantastic tool for marketing and building credibility.

To build an internet presence you may want to consider building a website, building a blog, or using the website many insurance companies provide for their new agents. You can then drive customers to your new website or blog through a wide range of online advertising tools like Google Adwords for example.

To help get a running start, many agents turn to online lead providers like InsuranceLeadz.com. Agents rely on InsuranceLeadz.com for high quality pre-qualified insurance leads for auto, life, health, home, renters, condo, and business insurance.

In order to maximize each customer you sign-up, remember to cross-sell your product lines. Cross-selling can lead to much larger revenues for your agency as you can sometimes tack on 1 or 2 additional policies to your initial sale. For example, many independent agents will offer quotes for life and health insurance along with every car insurance sale they make. It is important to keep in mind that you may need additional licenses in some states to sell health and life insurance products or the opposite may be true as well. If you can get licensed to sell all 4 of the major lines, you stand the best chance of cross-selling your customers.

Remember though, once you sign-up those new clients, the competition does not stop. Customer service is crucial to the long term success of your agency and will lead to referrals. I can’t stress the importance of getting referrals and asking your customers for referrals. The best way to stay competitive in the long run, is not to lose your customers in the first place! So keep them happy and get them to refer their friends and family to you.

Passing The State Licensing Exam is Easy With InsuranceLeadz.com Pre-Exam Coursework and Training

Share This