1. Professionalism is at the top of the list. You have one time to make a first impression. If you blow it, that's on you. Dressing the part, speaking intelligently and avoiding slang or industry jargon will lend itself well to gleaning more clients. The first step to having your clients entrust you with their future insurance needs is to act accordingly. Would you buy insurance from yourself? Trust is huge when it comes to purchasing insurance and financial products.
2. Knowledge is next. If you don't know what you're selling, how do you expect your clients to purchase from you? Study your insurance products and understand what benefits they provide for your clients. If you don't know the answer, simply tell your client you'll research the answer and will get back to them. On the flip side, you don't want to come across as a "know-it-all" and overwhelm your clients with non-essential information. Moderation is key.
3. Technology is on deck for number three. If you aren't technologically savvy and struggle with basic web navigation and software, then it's time to bone up on those skills. Successful insurance agents today submit their business electronically and monitor their business online. They also run quotes and illustrations for clients online at any time of day or night. Everything you need to be successful in insurance is online.
4. Marketing is number four on the list. Carriers will provide you with consumer-facing materials, but at the end of the day, it's up to you to market yourself and your agency. You are your own brand, and you must convey your professionalism (see tip #1) via your email address and online presence. That means ditching the Yahoo email account and purchasing a domain (they're incredibly economical) and doing business with a verified business email address. And while we're talking about online presence, having a website or at the very least a landing page or micro site, is prudent. Many agents get a way with just having a facebook business page and their LinkedIn profiles, but if you can afford a small website to direct your clients to, you're on your way to a successful career.
5. Listening is imperative. You can spiel about the importance of insurance all you want, but if you don't listen to your clients and their needs, you're shooting yourself in the foot. Listening is half of selling. You need to create solutions for your clients and since they can't pick up a Medicare Supplement or Life Insurance policy in their hands and have a tangible product to identify with, it's up to you to listen and then relay the benefits of the solution you create for them,
6. Attention to details. Paying attention to yourself is imperative, whether it be in meetings, how you speak to your clients, how you respond to emails or voicemails. Paying attention to how you conduct your business will go a long way in helping you correct your mistakes and becoming more versed in this industry.
7. Digging deep. That's right. Selling insurance is not for the faint of heart. It takes dedication, commitment and hard work. Yes, you're your own boss, but with that comes accountability. It's up to you to monitor your business, market yourself, bring on new clients, set goals for future growth, make time for continuing education and taking care of your existing clients.
8. Connected is up next. Being involved in your community, networking and having a social presence is paramount. You don't have to be the town mayor, but you do need to be social. Reach out to your clients, follow up with them, let them know about new products and find out how they're doing. Life is not static. It's up to you keep up with the pace and be socially aware.
9. Receiving advice is important. If you have a mentor or someone you value who works in the insurance industry and can impart knowledge and tips, then listen and take advantage of their wisdom. We all know we learn best by actually "doing", but when you can learn from someone who is successful in this business, why wouldn't you?
10. Patience. Lastly, we must address the elephant in the room. Success doesn't happen overnight. If it did, we'd all be jumping on the next bus to Money Town. Remember that hard work and dedication DO pay off and every year you should see incremental growth. If you're not, then you need to unearth why you're not growing and what's contributing to your lack of success. Each day is a new day to call prospective clients, learn about a new product and grow your business by thinking forward. If you take the time to invest in yourself, you will undoubtedly be a successful insurance agent.
No one plans for a tragedy to strike...
...but if one should, having Disability Insurance ensures your clients are covered, allowing them to focus on their road to recovery, while having the means to pay the bills. May is Disability Insurance Awareness month. It's the perfect time to open up the conversation about having disability income.
Speaking to your clients about DI (Disability Income/Disability Insurance) is a conversation worth having. Having insurance that insures the beneficiary's earned income will be provided should they become disabled not only gives one peace of mind, it's just good common sense. Nearly 18.5% of Americans currently live with a disability. One out of every four Americans will suffer a disabling injury before retirement. Statistics like these are hard to ignore.
Life Happens poses this question:
"Without your paycheck, how long would you be able to make your mortgage or rent payment, buy groceries or pay your credit card bills without feeling the pinch?"
"If you’re like most, it wouldn’t be long at all: 7 in 10 working Americans couldn’t make it a month before financial difficulties would set in, and one in four would have problems immediately, according to a Life Happens survey.¹"
¹”What Do You Know About Disability Insurance” survey, Life Happens, 2018
It's a new year, and with that comes new opportunities. Creating a solid marketing plan and sticking to it will not only grow your business, but will give you structure and organization. Running your own business and working on commission has its risks and rewards, but with planning and utilizing all of the tools and resources available to you, you're guaranteed to succeed.
You can't continue to grow if you continue to do what you've always done.
Which of the following marketing tips have you already implemented this year? Which do you need to do?
Reminding your prospects that using your services doesn’t cost them a dime is something that may slip your mind. When seniors are overwhelmed with phone calls and postcards before their 65th birthday, they go to the internet to research their Medicare options. And as you know, many seniors purchase their policies online directly from the carrier without any real guidance.
There is no fee for using a reputable, knowledgeable insurance agent to guide you to the best insurance decision
This one crucial element can help you secure more clients in that it shows them your value. Seniors are overwhelmed by the amount of information available to them on the topic of Medicare. And it’s not an easy topic to understand. There are so many nuances when it comes to understanding the intricacies of Medicare and the different parts, deductibles and options available to cover gaps.
Your value is that you can explain Medicare in layman’s terms and research the best options for your clients based on their health, age and state of residence. Choosing the wrong plan with a fly by night carrier is a recipe for disaster. Seniors need to understand that Medicare is not like employee-based coverage. Helping your clients and prospects understand Parts A, B, C and D is the value you bring.
Many seniors are apt to dive into a Medicare Advantage plan because of the cost savings. However, if their health takes a turn for the worse, or their network pulls out of their county, they’re in big trouble. Explaining the differences between Medicare Advantage plans and Medicare Supplement plans is a huge value add. For some, the cost savings is paramount on a fixed income, and a supplement plan is not a viable option. But for those who can afford it? Explaining that they can use any doctor or hospital they choose without being confined to a network is peace of mind for the premium they’ll pay.
The next time you approach a prospect, remind them that prices for Medicare Supplement and Medicare Advantage plans are set. There is no additional fee by using your services. It may well be the deciding factor for them.
Carolyn Portanova is the Director of Marketing at The Brokerage Resource and has been with the firm since 2012.