101 Sales and Marketing Ideas for Insurance Agents

[Josh]

Insurance Journal's August 16 magazine issue will include a special feature "101 Sales and Marketing Ideas for Insurance Agents".

What are your tricks and tips?

Post them here for consideration in our print magazine.

You can also email your ideas to Andrea Wells awells@insurancejournal.com, please let her know if it's ok to publish your name/agency name/city/state.

[michga11]

idea: make sure your AMS has all the proper documentation so that your current employees aren't ripping their hair out because they can't find any information on an account you've possessed for over a decade. also, excessive employee turn-over is not a good thing in the insurance industry. for CEO's: when you yell at your clients and talk to them like they're stupid, you lose them. get it?

[yoyowordup]

idea: make sure your AMS has all the proper documentation so that your current employees aren't ripping their hair out because they can't find any information on an account you've possessed for over a decade. also, excessive employee turn-over is not a good thing in the insurance industry. for CEO's: when you yell at your clients and talk to them like they're stupid, you lose them. get it?

This is your sales and marketing idea?

[michga11]

idea: make sure your AMS has all the proper documentation so that your current employees aren't ripping their hair out because they can't find any information on an account you've possessed for over a decade. also, excessive employee turn-over is not a good thing in the insurance industry. for CEO's: when you yell at your clients and talk to them like they're stupid, you lose them. get it?

This is your sales and marketing idea?

yep. pretty simple, huh?

what's yours? do your current clients like you? should you worry about them first or keep pushing for new accounts which you cannot handle? do you actually care about your clients or is it all about the money? in case you haven't noticed, insurance has a real bad rep. maybe we should change that status first, and worry about the other stuff later.

[mickeyfridia178]

1. Pick up the phone. I have yet to find a better way of "marketing oneself" then speaking with a prospect on the phone -- it's way better than direct mailings and cheaper too. Looking for folks to call? Try whitepages.com or do a search on neighborhoods -- it's free.
- Allen E. Shea, independent advisor

2. Referrals. My best marketing plan is this: Friends telling friends of my services and products.
- Sam Hacek, Sr. Affordable Insurance Concepts

3. Identify your target customers. Create a three-tier or dartboard approach to profiling sales prospects. The top tier or bull's-eye of the dartboard represents the prime target audience. Spend the most time with the tier in the bull's-eye and the least amount of time with the third tier. The marketing strategy should focus on a message to address the needs of each group.

4. Establish and understand your primary geographical market area. Identify your geographic area by zip code, county, neighborhood or other parameter and understand the prospects who live there. Then develop marketing campaigns to promote relevant product offerings based on life triggers and other events that may be happening in your community, including new homebuyers, births, marriages within this area and target products and services to the event.

5. Develop a "drip" list. Create a list of your best prospects that you contact on a monthly (even weekly) basis with key information. Keep your name out in front of your target audience.

6. Sponsor or organize high-profile events. Invite your first and second tier prospects to speaking engagements, which highlight industry leaders. Often organizations sponsor quarterly or bi-annual speaking engagements with industry leaders from your organization. By inviting your best prospects, you establish credibility and show them that you appreciate them.

7. Use newsletters. Newsletters create credibility and stimulate interest in your products/services.

8. Create a bio sheet. Use a professional photo and share both your professional resume as well as personal information on what makes you unique within the industry and why prospects should work with you.

9. Develop an integrated marketing strategy. Contact your prospects through a number of marketing channels including direct marketing, Web site information, email, telemarketing and, of course, personal meetings. For example, you can use direct mail to drive traffic online to your Web site for product information, rate calculators and financial goals worksheets. Promote your online resources with direct mail and in other print media.

10. Have a true marketing plan. Develop a contact strategy consisting of direct mail, telemarketing, newsletters and special events such as seminars and other educational formats that is designed to build a relationship with their prospects over time.

[michga11]

yes!! the best thing to do is the same thing as everyone else!

[michga11]

1. Pick up the phone. I have yet to find a better way of "marketing oneself" then speaking with a prospect on the phone -- it's way better than direct mailings and cheaper too. Looking for folks to call? Try whitepages.com or do a search on neighborhoods -- it's free.
- Allen E. Shea, independent advisor

2. Referrals. My best marketing plan is this: Friends telling friends of my services and products.
- Sam Hacek, Sr. Affordable Insurance Concepts

3. Identify your target customers. Create a three-tier or dartboard approach to profiling sales prospects. The top tier or bull's-eye of the dartboard represents the prime target audience. Spend the most time with the tier in the bull's-eye and the least amount of time with the third tier. The marketing strategy should focus on a message to address the needs of each group.

4. Establish and understand your primary geographical market area. Identify your geographic area by zip code, county, neighborhood or other parameter and understand the prospects who live there. Then develop marketing campaigns to promote relevant product offerings based on life triggers and other events that may be happening in your community, including new homebuyers, births, marriages within this area and target products and services to the event.

5. Develop a "drip" list. Create a list of your best prospects that you contact on a monthly (even weekly) basis with key information. Keep your name out in front of your target audience.

6. Sponsor or organize high-profile events. Invite your first and second tier prospects to speaking engagements, which highlight industry leaders. Often organizations sponsor quarterly or bi-annual speaking engagements with industry leaders from your organization. By inviting your best prospects, you establish credibility and show them that you appreciate them.

7. Use newsletters. Newsletters create credibility and stimulate interest in your products/services.

8. Create a bio sheet. Use a professional photo and share both your professional resume as well as personal information on what makes you unique within the industry and why prospects should work with you.

9. Develop an integrated marketing strategy. Contact your prospects through a number of marketing channels including direct marketing, Web site information, email, telemarketing and, of course, personal meetings. For example, you can use direct mail to drive traffic online to your Web site for product information, rate calculators and financial goals worksheets. Promote your online resources with direct mail and in other print media.

10. Have a true marketing plan. Develop a contact strategy consisting of direct mail, telemarketing, newsletters and special events such as seminars and other educational formats that is designed to build a relationship with their prospects over time.

whose site did you pull this off anyways?

[RKunz2]

Okay, I have to go along w/Michga11 to a degree here. This is all good stuff and nothing new. Any sales professional on this planet has heard and/or practiced everything on this list at one point or another in his/her career. One challenge for these 10 items - unless you're Arthur J. Gallagher, Palmer & Cay, Barney & Barney or an agency of that magnatude (keyword, "Player"), you simply cannot throw that kind of money at the marketing budget. You're talking about 6 figures annually to be effective by the time you do your events, speaking engagements, sponsorships, 5-point marketing plans, campaigns, lists, newletters, etc.

Furthermore, let's talk about 'cold calling.' To be effective, you HAVE TO make no less than 100 calls each day (little time to actually go out and see people), if you have a 1-3% hit ratio of folks even remotely interested, you're a H E R O. So, you're spending 6-8 hrs each day cold calling to get 1-3 warm leads and perhaps you'll close 1 in 5? Talk about work! I have no fear of it myself, I've worked in call center environments, but I also learned to 'work smart.' Talking to 100 people each day, 96 of which have no more interest in talking insurance then they do going to the moon does not a smart effort make.

That being said, I'm a commercial baby (personal lines by accommodation) so perhaps my tactics vary and my perverbial you know what is out in left field. I'm willing to take that risk. Some of the items on that list get close to touch strong marketing techniques. Service, get YOUR NAME out in front of people and keep it there as often as humanly possible, give value (information), the Golden Rule (do unto others...etc), and word-of-mouth referrals are worth more than ANY other marketing concept in existance, I don't care who you are! Look, we're all going to win-some, lose-some, but if we treat people right and conduct ourselves with decorum and integrity, good things will come.

[RKunz2]

Oh and by the by - for those interested in quotes, here's one...

"People don't care how much you know until they know how much you care...[about them]"

- John Maxwell, Zig Ziglar, Theodore Roosevelt (take your pick)

[michga11]

omg. i think all bosses sound the same. same lists, same proverbial cacalaca, same quotes...it's kinda scary how similar you are. perhaps you are all clones? one in the same?

agreed upon the word-of-mouth being the best. you put a good reputation behind you and your product, and people talk. big business letting another partner in big business know who's best. get the word out. have them look for you, not look for them. that's a real business right there, when they are looking for you. EVERYONE has the same pitch and empty promises; "oh we can do this and that. we nourish you. we find the best coverage. we'll fill in the gaps. yada yada blah blah blah." I know for a fact people are sick of hearing the same ole same ole. you can pitch and set up your facebooks and twitters and your websites and make up fake testimonials with fake profiles and have learning workshops and showcase your fancy manifesto all you want! just know it will fall on deaf ears. especially since the consumer heard the EXACT SAME THING from the company next door. for some reason the CEO's think this is original? i really don't get it. trapped in that little box, i suppose. not seeing the big picture. all i know is that the proof is always in the pudding and when the pudding is good, people will want to eat it. omnomnomnomnomnom.

[RKunz2]

Interesting observation, michga11. I'm not a boss, used to be, then I was an owner (twice)...now, I'm just a little guy trying to help someone else develop their company, go figure!

You on the other hand are either young and cocky, or old and cynical. The former will cure itself largely with age and experience, the latter...well, not much you can do there.

You're right though, too much of the same old tired thing. The last two years have really awakened a lot of things in people that hasn't been present for a long time. I would classify it as complacency...don't rock the boat and I'll look the other way syndrome. Now, emotions are high, senses are keen, and the BS sniffer has never been more in-tune.

In a way, I don't think it's what we say so much as how we say it. People have grown tired of 'the pitch' and the same old canned lines, empty promises, broken commitments, and double-talk. More respect is gained from straight honest talk, even if it's bad news or a mistake, then if you try to blah, blah your way thru it and cover it up.

I like the originality factor! Be careful around your superiors with the out-of-the-box thing. If they're too old to be progressive free-thinkers, it will threaten them and you'll get the short end of that deal (trust me, I know). Regardless, if it's working, and being done in an ethical fashion, keep on keeping on.

Good hunting and best wishes!

[michga11]

Interesting observation, michga11. I'm not a boss, used to be, then I was an owner (twice)...now, I'm just a little guy trying to help someone else develop their company, go figure!

You on the other hand are either young and cocky, or old and cynical. The former will cure itself largely with age and experience, the latter...well, not much you can do there.

You're right though, too much of the same old tired thing. The last two years have really awakened a lot of things in people that hasn't been present for a long time. I would classify it as complacency...don't rock the boat and I'll look the other way syndrome. Now, emotions are high, senses are keen, and the BS sniffer has never been more in-tune.

In a way, I don't think it's what we say so much as how we say it. People have grown tired of 'the pitch' and the same old canned lines, empty promises, broken commitments, and double-talk. More respect is gained from straight honest talk, even if it's bad news or a mistake, then if you try to blah, blah your way thru it and cover it up.

I like the originality factor! Be careful around your superiors with the out-of-the-box thing. If they're too old to be progressive free-thinkers, it will threaten them and you'll get the short end of that deal (trust me, I know). Regardless, if it's working, and being done in an ethical fashion, keep on keeping on.

Good hunting and best wishes!

lol! well...once a boss...always a boss. i could tell. it's just like never forgetting to ride a bike, looks like you haven't.

also, i would say that i am young, cynical AND extremely cocky...with a little dash of sass.

i know what you mean about being careful around my superiors with originality and out-of-the-box thinking. can get you in trouble...and i can be quite the troublemaker. i live for trouble. heh. however, sometimes they listen, which makes it all worth it. we really need to get this place on track, and it's much more than marketing needed. at this point, it shouldn't be our number one goal. retaining what we have, which we still do have many large accounts, is the most crucial thing. man, many of our clients hate us. they really do. once they leave, they never come back. not ever. even when we can save them premium, they just don't care. it's that whole empty promises thing. sometimes the boss just needs to shut his yap and let us (CSR's/Account Managers) do the HONEST talking. we know what's up because we are doing the work. i like to always be honest up front with a client about what we can or cannot do. honesty is always the winner. people are so much more understanding than many BOSSES think. or maybe it's just my boss. i think he's a compulsive liar and for no reason at all. it's really silly. if he could keep focus, we would really have something great here. it's the bad reputation that will bring us down, and quickly. there's just too much competition out there to take such risks. one thing though, the boss knows i am here to only do good for the company, which is appreciated and rewarded.

the very worst thing to talk about with your superiors is politics. not even this troublemaker dares go there. yikes.

[Rainmaker]

Okie dokie!

Back to 101 Sales and Marketing Ideas:

A good technique for developing more ideal clients combined with adding more center of influence/referral mechanisms is the following: Ask three of your ideal clients who they use for their CPA, banking, and legal vendors. Statistically, those firms will tend to be comprised of clients like those occupying that stratum (large, middle sized, industry specific, etc). Ask if you can introduce yourself to their vendor(s) as you might have clients who need those services. Ask what they like about doing business with them. 9 of 10 times they are happy to provide an introduction or consent to you calling them to introduce yourself and mentioning their name.

Call the vendor, introduce yourself, mention you have a client in common, and that the client said they liked doing business with you for XYZ reason (spread a little goodwill around!), and that you'd like to meet them over coffee/lunch/visit their office/whatever as you may have some clients in need of their services and vice versa. Be upfront with your agenda and mention that you like to develop relationships with highly regarded firms for the purposes of mutual introductions and trading referrals. Invite them to join your LinkedIn network, do some research on their firm - many list key clients on their websites - research a few of those before your meeting.

When you meet with them, learn about their business, share yours with them, from your research you may be able to prompt them for an introduction to an account or person that was revealed to you by doing the research previously mentioned.

This is a great way to develop business in line with your ideal client stratum, develop new center of influence relationships and referral mechanisms, and, equally fun and important - new alliances and professional relationships & friendships.

Hope this helps.

[RKunz2]

Alrighty then....I don't know about client stratums and such, but the rest of the thought is a finely polished and well articulated initial approach replete with a website address, company info, and tantilizing teasers designed to draw you over for a look. Nice! (Beautiful website by the way - yes, I looked).

"Center of influence" vis-a-vis "Circle of influence", otherwise known as the rule of 250.

"Quality introductions" - it's not the 21st century lingo to simply ask for a "referral" any longer, it's a "Quality introduction." A bit surprised that wasn't brought up too, since we're throwing around terms.

If only everything in life, and sales, worked as smoothly and nicely as described. Unfortunately, that isn't real life. I would kill for a structure something like; Director of Business Development (top of the sales food chain, a pure closer by definition), a Client Servicer (handles on-going relationship issues after the sale), and a Market Researcher (dedicated strictly the research and development of target markets and that precious research mentioned); however, most of us not working for Arthur J. Gallagher or Willis would be dead, broke, or both waiting for this sales cycle to pay dividends. Not to mention the ever prevelant struggle with unconscionable so-called professionals that will do what ever it takes, at any cost ethical or not, to close a sale for that next commission. If only.......we'd all live in a virtual Utopia, money and champange would fall from the heavens and there would be Peace on Earth.

Bottom line, talk to people at every turn, moment, and opportunity that avails itself. Spread goodwill...yes, but do it with honest intent and ease up on the 'agenda' a bit. If you're truly in this business to help people, that will show in everything you do, without the need for an agenda. People are intelligent and when you speak in business circles, people know your intent, you don't necessarily have to spell it out for them. Listen to them and yes, learn their business but share yours when/if asked. Synergies have a funny way of taking on a life of their own and the best ones are created out of mutual interest, benefit, and devotion.

[Climbing down of my soap box now] - Just my own 2 cents for what its worth. Best of luck out there in the jungle and good hunting everyone! Remember, at the end of the day, we're all in this crazy business together!

[inscopywriter]

Is Rainmaker the new Scott around here?

Come to think of it, has anyone seen Scott lately? Did he perhaps change his name to David and open a new company?