8 Insurance Agent Sell-through Strategies For Moving More Products Quickly
Insurance agents need sales to generate revenue, but sometimes those sales can be frustratingly slow in coming. Rather than becoming discouraged by the trickling in of business, why not put “Eye of the Tiger” on Repeat and montage your way into becoming the Rocky of insurance agents? Yes, we’re talking about finding your inner beast and moving products as quickly as possible. There are eight techniques that have worked for us in the past. Of course, one note before continuing: don’t put all your eggs in a single basket. Try a few or all of them simultaneously for the best results. Let’s get started!
Strategy 1: Make a schedule.
Your schedule should start with goals. How many policies do you want/need to sell, and when would you like to/need to sell those policies by? From there, take a look at your existing client list and make note of any policy renewal dates. Try to schedule annual reviews with these people a month in advance. Also, have a sense of how many No’s that you get before receiving a Yes, and make sure you’re doing enough numbers to hit your goals based on that fail/success rate. Your schedule will help you with this, and it can also be adjusted accordingly as the numbers change.
Strategy 2: Ask for referrals from family, friends, and existing customers.
They are the people who love you, who know you better than anyone else, and who’ve given you their money, respectively. There is a great amount of caring that goes along with that — enough that at least some of these people won’t mind steering you toward qualified business prospects. Swallow your pride and ask them.
Strategy 3: Generate new qualified leads.
If the well has run dry, partner with a site like HometownQuotes to get qualified leads that haven’t been sold and resold to death. We vet every lead to make sure it’s not going to be a waste of your time.
Strategy 4: Get featured in a local news story — either in the paper or on television.
People with insurance needs tend to come to you if you’ve done a great job of putting your name out in the public eye and establishing yourself as an expert. While this may seem difficult, it’s not as tough as it sounds. Simply follow local reporters, who specialize in the insurance and business industries. Tell them that your door is always open if they ever need an expert opinion on a story they’re working. They’ll appreciate it, and yes, you’ll get a call that can have customers coming to you.
Strategy 5: Network with other agents in non-competing markets.
Obviously if there is competition, then you probably won’t want to share your sales techniques and leads with other agents. But since much of insurance is regional, it can be beneficial befriending agents in other states and picking their brain for tips from time to time.
Strategy 6: Make nice with area businesses.
There are many ways that you can do this, and many reasons that you would want to — namely, their employees, all of whom will probably have an insurance need at some point in their lives. Consider blogging about a local business you appreciate or sponsoring an event in their honor. No better way of getting clients in front of you than getting yourself in front of them first — in a flattering way, no less!
Strategy 7: Jump in to underserved products.
While an underserved product like cyber insurance or renters insurance isn’t going to set you up for life, it will generate a little extra revenue. The fact that it’s underserved will also mean the competition is less, and it can create some positive momentum for your other insurance products.
Strategy 8: Don’t miss annual reviews even if you have to do them by phone.
Annual revenues can be great for generating additional business with existing customers, adjusting insurance amounts upward based on life changes, and showing your customers that you care enough about them to keep up with the changes going on in their lives. While it can be tough getting a client to sit down with you, leave no technique neglected. Even if that means doing it by phone instead of in-person.
While we can’t say that each of these is foolproof in generating business quickly on its own, taking a multi-prong approach and having more than one iron in the fire can lead to fast success. What are some fast-acting tactics you’ve used to generate more business?