Daily sales & marketing tips for insurance professionals

When things don’t go the way you planned and you just can’t seem to succeed at your job, or even your personal life, what is your response?

Do you sit around moping and wondering what you’re doing wrong? Make changes to try and improve your results? Or do you degrade yourself for being stupid and unsuccessful?

If this sounds rather familiar, maybe what’s really holding you back is actually YOU?

I read something recently that got the wheels turning in my head on the subject of success. After pondering the subject for a while and examining my own life, I came to this conclusion (which is more common sense than brilliant): Most of us are our own worst enemy.

When things go right and we’re actually proud of our accomplishments, do we focus on them? No. We pretty much move on to the next big thing, expecting to accomplish just as much—or even more—than we did this time.

But that can be a self-defeating cycle.

If any of the following feelings or tendencies are holding you back from reaching success in life, you’re not alone. But guess what? It’s time to do something about it!

1. Inadequacy. If you focus on your failures, rather than your successes, you’ll lack the motivation to keep moving forward.
2. Lack of goals. I’ve said it before, but when you’re not sure where you’re going, how will you know when (or if) you get there?
3. Low expectations. Write down what you expect of yourself and do your best to get there. But don’t become a self-fulfilling prophecy by aiming at nothing.
4. Negative support systems. Sometimes people around you can really bring you down. Surround yourself with positive people and you’ll more readily recognize and focus on your successes, rather than your failures.
5. Perfectionism. Learn to delegate work, wherever possible, and don’t exhaust yourself trying to do everything right. Give yourself some breathing space, take frequent breaks and relax. Eventually, it will all work out!

Listen, no one does everything perfectly all the time. So start celebrating your small successes, and give yourself a break when things don’t go just right.

A little dose of reality may be just what the doctor ordered to get you back on track again.

If you keep an eye on the news, you may have seen a story recently regarding the professional wrestler known as ”Hulk Hogan.” 

Following a car accident involving his son, who was street racing in Clearwater, Fla., Hogan filed suit against his insurer, Wells Fargo Insurance Services, saying it failed to recommend an umbrella policy that could have protected he and his son financially.

Apparently, in his recklessness, the younger man caused a crash that left a passenger in another vehicle with severe brain injuries. The injured man then took him to court, and the case was settled out of court for an undisclosed sum of money.

If this sounds a bit hokey to you, you’re not alone. My first impression after reading this story was that Hogan’s son should take responsibility for his own actions. After all, isn’t that what we preach to our kids about growing up? 

How could an individual blame their insurer for their own neglect anyway?

Other celebrities have tried this tack too. But it appears the problem is more widespread than that. More and more desperate business owners, faced with hard times and growing debt, also seem to be lashing out by filing lawsuits against their insurance agents, financial planners and service providers.

Why? It’s simple: Because they have deep pockets.

According to Attorney Nancy M. Reimer, an attorney in Boston, issues with errors and omissions, financial planning and taxation lend themselves to service providers becoming scapegoats for those who have nothing to lose by filing suit—especially if the provider is wealthy or heavily insured.

But what can you do to protect yourself from unscrupulous people like this?

“As an advisor, insurance agent or financial planner, all you can do is advise,” Reimer told IFAwebnews.com recently. “You can’t force them to take what you suggest….”

To protect yourself against this type of risk, Reimer says you should always provide a letter that spells out exactly what services you provide. Then, if both you and the client agree, you should each sign the letter.

What if the customer objects? “In most cases, the client will just sign it,” Reimer explains. “If they won’t, then blame it on the lawyer or the insurance carrier,” if that’s what it takes to get them to sign.

Reimer also suggests that agents document all the recommendations they make to protect themselves from later suit.

“At least then you have some protection,” she concludes.

Whether over a personal or a business matter, it appears that desperate times lead some people to desperate measures. So do what you can to protect yourself from becoming a target. The future of your business may depend on it.

Today I was pondering my previous post on How to Focus on the Right Prospects. In the process, I realized that’s completely impossible to do if you can’t find the right prospects in the first place. So today I want to focus on how to find clients who want and need your services.

If you’ve been struggling to keep your business afloat and need help building a solid book of clients, read on because this is especially for you.

If, on the other hand, business is good and you just want to expand your reach, this should be equally as helpful.

So how can you go about finding the right type of client? It’s all about communication. I know that sounds like a pat answer, but when it gets right down to it, it’s the absolute truth.

To get your message out there where the right people can “hear” it (whether you actually speak to them, you communicate by email or phone, or someone refers them to you), you need to pay attention to how you come across in four ways.

1. Voice. The actual words that you use represent your voice, both in your marketing efforts and one-on-one with potential clients. Stick with a clear and concise message, without getting too distracted by compelling graphics or creative and clever advertising. Instead, think of ways you can add value to people’s lives—and be brief.  Tell them what you have to offer, and give them honest reasons why they should do business with you, instead of someone else. These simple messages become your voice, and speak for you whether you’re present or not.

 

2. Form. Your form is the way your message presents itself visually. A clear, professional message in the right form is attractive, appealing and compelling—and should lead to an increase in business. Again, keep it simple and uncomplicated, and don’t overdo it for best results.

 

3. Action. What course of action do potential clients take when they encounter your messaging? Is it clear exactly what you’re asking them to do? For example, if they visit your Web site or read a direct mail piece, do they know what they’re supposed to do next? Did you provide all the information they need to do it? And will taking those actions help lead them toward a sale? If not, you need to work on this part of your messaging. 

 

4. Target. The people you’re trying to reach are your targets. These are the “right prospects” I referenced in that previous post. The key here is to make sure you’re communicating with high-quality prospects that fit your products well and can increase your bottom line. Whether you make the sale at first contact or you stay in touch and close the sale later on down the line, targeting the right type of client can make all the difference in finding prospects you can actually sell to.

Once you’ve got your messaging down, purchasing leads is one of the most effective ways to find the right prospects. By filtering your target market by demographics, location, age or one of many other methods, you’re more likely to find clients that meet your products’ specifications—and boost your sales results!

While researching and reading today through a variety of agent information, I stumbled across a great group of resources I’ve never encountered before, so I thought I’d share them with you. 

Though I often cite Advisor Today for the helpful and relevant information it provides online, today I found the mother lode on their site: a wealth of  downloadable tools agents can use to improve business and sales processes.

If you’ve never seen this either, get pen and paper and start writing—or open your browser window and start bookmarking!

Once you read through this list of tools and find the ones most applicable to your personal style and way of doing business, I think you’ll find that taking a look was totally worth your time.

If you already use some of these, please let us know. We’d love to hear what you think of them and how they help (or don’t).

Happy Friday!

Currently, nearly two-thirds of the 81 million people who rent their homes are uninsured for their contents or for any liability. This is about to change.

InsureMe recently announced a new product line to address this growing problem: renters insurance leads. This is a growing market, as more and more renters are learning they need protection from floods, earthquakes, hurricanes and damage their pets might cause.

Renters are discovering they have a pretty substantial amount invested within their rented walls: a stereo, high-def TV, a business and a leisure wardrobe, all those small appliances in the kitchen, the electronics in the study, and so on. 

Even if the furniture was bought secondhand or from WalMart, it all adds up. And should disaster strike, everything will have to be replaced out of pocket. Plus, there is the matter of liability.

At InsureMe, we decided it was time to help these renters protect their possessions and themselves.

In the past, our renters leads would appear in and amongst homeowners leads. But now, we have the consumer choose at the onset of the quote request form if they are a renter or a homeowner, and from that point on we ask different questions and match them to agents who offer the type of insurance they need. 

The two quote requests (renter and homeowner) are quite different from each other, since the homeowner form requires much more detail. 

We are excited for both the consumer and the insurance agent with this product. Previously, people shopping for renters insurance had to answer many irrelevant questions that only applied to homeowners. Often times, we believe they became discouraged and gave up before completing the quote request form.

Now, agents get just the information they need to sell renters insurance quickly. Moreover, they get the lead and the ability to cross-sell other insurance products to the prospect. So this is a win for both agent and consumer.

If you are currently receiving InsureMe leads, you can easily set up a profile to get these inexpensive renters leads. Check out your account and activate your renters profile to get started right away.

 If you aren’t getting InsureMe leads, what are you waiting for?  Jump on the bandwagon, and benefit from these leads, as well as other high-quality lead types as well!

Last weekend I had an unnerving experience with a salesman that really made me mad. In fact, by the time I got off the phone with him, I was steaming—and wanted to tell the guy to take a long walk off a short pier!

Let me preface my story with a little background. My family and I are house shopping, so we’ve been spending a lot of time driving around in our target neighborhoods looking for the ideal home. When we find something we’re interested in, we just pick up the cell phone, call the number on the sign and set up a showing.

For the past few months, this system has worked perfectly for us—until last Friday, when I called the listing realtor on one particular home.  

His tone was rude and beligerent from the get-go. I don’t know if he’d had a bad day, didn’t want to be bothered on a Friday or what. All I know is, his tone of voice was rude, he said some things that made me feel like a total idiot, and he basically insulted my intelligence!

Once I hung up the phone and, a while later, got over my initial anger, this experience got me thinking: What does the way we communicate with customers say about us?

Do we truly listen, invest time and money helping solve their needs, and make them feel like they’re more important than anyone or anything?

I read a great article over at Advisor Today titled The Customer Is King that I think addresses this issue perfectly. The basic message the author, Troy Korsgaden, conveys is that it truly doesn’t matter what you think or feel. What’s really important, instead, is that you’re willing to put yourself on the line by:

1. Placing the customer first
2. Treating him as a valuable commodity vital to your business, and
3. Ensuring his satisfaction in every way possible—no matter what the cost

Korsgaden says something that rings so true for me following my maddening experience: “Remember that you can never help your customer too much.”

I wish I could relate and explain the significance of this idea to that realtor. Instead, I’ll leave these thoughts with you and hope they make a difference for you in the way you do business.

First, how do you treat customers? Does your tone of voice relay frustration on a bad day, or do you make an effort to conceal how you’re feeling and put the customer and his needs first?

Second, are you willing to go the extra mile by listening, being empathetic when needed, avoiding assumptions that may or may not be true, and always keeping your promises?

I’ll tell you one thing, that realtor who treated me so badly didn’t just lose a sale; he muddied his name, the name of his company and the reputation of both…and that’s a very high price to pay for less than five minutes on the phone.

Wondering what effect the new health care laws will have on you and your business?

If so, you’re not alone. Many people are wondering how the new laws, once they actually take effect, will impact both the way they do business and their bottom line.

To help answer your questions, American Agent and Broker recently conducted an interview with Adam Bruckman, President and CEO of Digital Insurance, Inc., about the implications of the new guidelines for professionals who work in the industry.

Take a peek at the article, titled The new healthcare law: What it means to agents and brokers, and find out what health care reform could mean for you and your profession.

*Hat tip to Tyler at iboomerang for passing along this info!

I read a funny blog post this week about an insurance consultant and previous salesman who eyed a unique message on the tailgate of an old pickup truck parked in a parking lot.

The message read, “Grandpa seeks female for friendship,” and was followed by the gentleman’s phone number.

Though the old man took a humorous approach to his problem, it got the author, Dan Weedin, seriously thinking: Creative insurance professionals who are confident in business should always be on the lookout for ways to openly and “shamelessly” advertise—especially in unique ways.

Who understands the value of what you sell better than you? No one. And, though the industry on the whole tends to hold a reputation for dishonesty and a lack of ethics, you can prove that notion wrong by being honorable and passionate about what you do, and showing a sincere desire to help people.

So how can you promote your services in an outright and positive way? Though you may not choose to plaster your name and phone number on the side of your car (or maybe you do!) like the old man seeking a mate, are you missing opportunities to get your name out there where it can be seen and heard?

Some of the most creative methods of promotion often cost little to nothing, yet can make quite a difference in your bottom line: networking with other professionals, speaking in public on topics you’re knowledgeable about, answering insurance questions online, or trading referrals with a professional in another industry.

Heck, you can even advertise on bald men’s heads these days!

Do you believe in shameless promotion? Do you instigate it? What ways have you found of creatively getting your message to the public? We’d love it if you’d share!

Last week, one of the agents on our network called to speak with me directly after reading this blog. He wanted to contribute his views on a previous post “in person,” rather than leaving a comment.

During that conversation, which ended up lasting nearly an hour (and I loved every minute of it!), we ended up talking about the challenges of being an agent, from persistency, to the cost of underwriting, to finding ways to stay in touch with clients.

But one thing this agent asked resonated especially loudly with me: Why aren’t agents getting out away from their desks, taking seminars and conferences, becoming experts on their products, and networking with other professionals?

And he’s right. There’s a definite perception in the industry that if you’re not sitting at your desk working leads, making calls and following up with clients, you’re not making money. 

In fact, a recent article published online at American Agent & Broker indicates that “…agents aren’t particularly keen on lunches and conferences for new product information. Just 4 in 10 say they learn about new insurance products at lunches or speaker events, while less than that say they go to conferences to gain this knowledge.”

I’d like to pose another question I think has equal merit: How much more time could you save and money could you make if you started:

• learning everything there is to know about the products you’re selling (as well as new ones being introduced)
• networking with other agents to gain their perspectives, ideas and opinions (and possibly find some you’d consider partnering with)
• talking and role-playing with others to learn techniques for educating, selling and forming long-term relationships
• Staying up-to-date on the laws and regulations that govern insurance in your state
• Visiting with customers “in person” (as I did with this agent) to let them know you’re there if they need anything and are always willing to help (this can be accomplished in person, by email from a PDA or by phone while you’re on your way to another appointment or out grabbing lunch)

We all know the power of referrals. They cost you nothing and can result in some pretty substantial income. By staying educated, possibly trading business with other agents whose products compliment yours, and using your knowledge to educate clients and promote yourself and your agency, you’re likely to, in turn, increase your referral volume.

Staying educated can also help you gain confidence in yourself and what you do, enabling you to more effectively convey value to new leads and clients.

Do you sit at your desk day after day, working leads but neglecting opportunities to grow your business in other ways? If so, I’d like to encourage you to make a change today. You never know what you’re missing until you try.

P.S.—Please pardon the title. I couldn’t resist!

One of the most-voiced frustrations of insurance agents everywhere is the inability to contact leads.

Whether the consumer accidentally entered the phone number incorrectly, misspelled his own email address or, worst of all, purposefully entered someone else’s information, getting to the right person and having a meaningful conversation can be half the battle toward making a sale.

Though some lead services employ a verification system to check the accuracy of contact information, not all do. That means the agent must pay for the lead regardless—and often spend valuable time that could have been used more productively on the phone or computer instead, trying to reach out to potential clients.

There are ways, however, to make things easier on yourself and maximize your conversion ratio. For instance, consider these tips for making the most of your InsureMe leads:

1. Try increasing lead flow on Saturdays and Sundays. Yes, I said increase. Many agents actually turn off or decrease their lead volume during this time; so you’re likely to have less competition and get better quality leads if you’re one of the few who’s buying.
2. Contact leads on the weekend. Most people are more available and ready to talk on the weekend, so they’re more likely to pick up the phone or answer personal email during this time. This is especially true if you’re the first one to contact the person.
3. Use an automated, multi-response system to contact leads immediately and repeatedly without lifting a finger. This enables you to take the weekend off, even if you’ve cranked up your lead flow during that time.
4. Download leads into an Excel spreadsheet for safe keeping. This is a great way to organize and retain contact information, both as soon as the lead is received and later, for follow-up.

By far, the best way to manage your leads is to make sure you’re purchasing from a reputable service (like InsureMe) that validates lead contact information prior to delivery. But to get even more from the leads you purchase, try these tips—and let us know how they help.

If you have any additional suggestions you’d be willing to share, please leave a comment and let us know!