Many new insurance agents know very little about business insurance leads. However, once they have been around awhile they begin to understand just how much their business can benefit from purchasing commercial insurance leads. Business insurance leads can result in some very lucrative sales, and adding several key businesses to your customer list will increase your profit immensely.
If you aren’t yet familiar with the specifics of commercial insurance leads, then continue reading. As you likely already gathered, the first part of the business insurance, is the “business insurance” part. Nearly every company out there needs to purchase insurance to cover their business from potential difficulties down the road. Companies large and small require insurance, and this is a large customer base that many agents neglect to serve.
If you are going to sell to these businesses, then you must have a good understanding of the different types of business insurance policies. Continue reading →
I speak with insurance agents in the final expense market all the time and a common question is “Where can I get quality finalexpense leads“? Well, first you have to decide what kind of lead you are looking for, because there are several different ways of developing leads. The first type and most widely used lead is called Direct Mail responder leads. The second most widely used is telemarketed leads. Third is internet leads and lastly referrals.
Direct Mail Responder Leads
Direct Mail Responder leads have been widely used in the final expense market for a very long time and the people who buy final expense market receive these mail cards on a regular basis. Every agent and his brother mail these cards to this market and saturate it every day. With the average direct mail response rate being about 1 1/2 percent it makes it difficult to get a good return on your money. Let’s do the math. Let’s say you spend $350 per 1,000 pieces of direct mail sent out, that means at a 1 1/2 percent response rate, you will get approximately 15 responder leads back. That means you are spending at a minimum of $23 per lead.
Telemarted Leads
Telemarketed leads have also been around for a long time. However because of the do not call list and the Telephone Consumer Protection Act or “TCPA”, it is mored difficult and more expensive than ever to get these types of leads. By the way, beware of leads developed using automated dialers with a prerecorded message. Read the TCPA (47 USC Sec 227), nowhere does it talk about the caller pressing 1 to opting making it legal. Then you have companies out there using call centers located in India. A total waist of money. These leads can cost anywhere from $15 each to $35 each, nonetheless very expensive.
Internet Leads
First of all, I have been working the final expense market for a long time and I can count on one hand the amount of individuals I have come across in this market that have internet access let alone own a computer. Even if these leads were prevalent, they get sold to a handful of agents at the same time. Not only do you have to call to see if the prospect is interested in buying your product, you have to race to the prospect to beat the other agents there. Although these leads can be the cheapest upfront, they end up being the most expensive.
Referrals
Referrals are always the best type of lead that you can ever get. There is nothing better than Mrs. Jones referring you to her sister or best friend. Referrals produce the most sales and the best thing is that they are FREE! Here is the problem though, how do you get Mrs. Jones to give you a referral. Most people do not give referrals because there is nothing in it for them. Mrs. Jones will give you many excuses for not giving you a referral. The trick is showing Mrs. Jones how it will benefit her to give you referrals. I am not talking about rebating! You should never do anything to jepordize your credibiltiy or your insurance license. I use one specific way of getting Mrs. Jones to open her address book. If you are interested, I offer a Free Report that explains everything. (Author: Dan Hopwood)
Insurance marketing is basically just the marketing of insurance products. Marketing of this sort is an important tool when it comes to the business of insurance. The marketing of insurance readily happens in the life insurance department as well as the non-life insurance department.
What type of advertising and marketing is most suitable for your insurance business? This is not a one size fits all deal. You must consider how much of a budget you have and work from there. You also need to know what your target market is. For example, are you going to sell one type of insurance such as life insurance or a variety, such as health insurance, auto insurance and house insurance? What is the demographic you are aiming for? The more you know the better able you will be to figure out what type of insurance marketing you should do to grow your business.
Online advertising is one marketing tool that is worth the money. As the Internet takes on more power and influence all of the time, having a web presence will put you on the cyber map and get you noticed. It has been found through studies that 75 percent of all households have access to a computer and Internet resources. Find out what you need to do in order to get online before that percentage gets any higher!
Block line advertising in trade journals, industry publications and periodicals is the way to go. This is because industry professionals read these publications to keep in the know. You are an industry professional so you need to get your business in one or more of these publications as well.
Television ads and print ads are excellent forms of insurance marketing. However the downside is that both can be very expensive. You may go way beyond your advertising budget if you decide to use either one of these methods. However if you can afford it then your best course of action is to either consult with an external advertising agency or hire one to help you develop a campaign that is conducive to what you need most. Your goal of course is to gain exposure and to increase your sales.
If you decide that print ads would suit your style and your budget just fine then colored ads are the most expensive to produce but can be very appealing to the eye. You can also choose a “reverse type” for your advertisements. Think back to what black and white television looked like. The ad would have white lettering on a stark black background. The black background sets off the lettering and gives it that catchy effect.
Many new insurance agents know very little about business insurance leads. However, once they have been around awhile they begin to understand just how much their business can benefit from purchasing commercial insurance leads. Business insurance leads can result in some very lucrative sales, and adding several key businesses to your customer list will increase your profit immensely.
