For a new and growing insurance agencies, increasing sales is of utmost importance for both survival and expansion. Everyone knows the more leads, the more sales you will have. The challenge is, how do you get more leads? The problem for many agencies is they do not have a consistent plan for lead generation. When I screened new agencies for direct appointments, one question I always asked was, “what is your sales and marketing plan for new business?” The most common answers I got were, “we network,” or “cold calling.”
Don’t get me wrong, networking and cold calling are valid methods of getting leads, but they should not be the strategy, but rather a tactic within an overall strategy. They should be part of an overall lead generation plan.
Imagine a large a city like Los Angeles or New York. How many roads lead into that city? Your goal for lead generation is to become that city. You want to build several roads for customers to reach you and for you to reach your target customers. Unlike the city, heavy traffic is a great thing for your business when it’s filled with qualified leads.
One of my favorite TV shows is Shark Tank. In fact, my kids watch it with me religiously. They still don’t quite get concepts like valuation and equity, but they love cheering on the entrepreneurs, and critiquing their businesses like the sharks. Even though the show is designed to entertain, there are always good core business lessons in every show.
The fundamental flaw of every entrepreneur, myself included, is that we fall in love with our business. Why not? We put our heart and soul into the business. It doesn’t matter if you are starting your agency or have been in the trenches for decades; it’s your blood, sweat and tears. It's your baby.
Selling insurance is no easy feat. Not only is there a tremendous amount of competition, insurance is also mostly viewed as a commodity where price is the determining factor for purchasing decisions. However, as I was told early in my career, if selling was easy, everyone will be doing it. This is why top producers are rewarded handsomely for their results.
Below are 14 tips to help you make more sales and reach the level of revenue and income you desire.
(Side note, bonus points if you can name the movie the quote came from)