1. Failure to market your business effectively
This is obvious, or so we thought. We find that 90-95% of the Insurance agents we talk to aren’t marketing at the right level, or aren’t marketing at all. Many agents live in comfort zones, where they rely on referrals that they happen to stumble upon. Although most agents believe they are marketing their services, we often find that the phone goes dead when we ask for a step-by-step plan.
This is what marketing is all about: Making money. Every other function is an expense!
If you’re waiting for some marketing miracle to happen, and not optimizing time, money, and talents to be a top marketer within your field, you could lose thousands of dollars each month. Agents may drive cars with over 150,000 miles. Insurance agents should be able to make six-figures and still enjoy the best of life. To generate steady leads, you must market every day.
2. You are not fully utilizing your invisible insurance leads asset
You have built up a lot of trust with your clients if you’ve been in the insurance business for any length of time. Your clients have gained peace of mind and value from you. However, this asset hasn’t been performing as it should.
We’ll show you how to turn your customers’ goodwill into cash and strengthen your customers loyalty. We will also show you how to use parasite marketing to tap into other professionals in your area if you’re new to the business or don’t have clients.
3. The Same Old Annuity Lead Ads and Insurance Leads That Get Terrible Returns
Postcards, ads, and direct mail pieces all cost the same, regardless of how many new customers they bring in. The secret techniques to creating award-winning ads and direct mail pieces can make the difference between driving an old car that has 150,000 miles or driving a new Mercedes, BMW, or other luxury cars. Your response rate can jump by as much as 1,800% if you use dynamic headlines in your marketing materials (such as flyers, postcards, newsletters and flyers),
This 7-step guide will help you create direct-mail marketing and ads that will attract floods of new customers.
4. Failure to customize your insurance lead letters
When I send a hand-written message on a “While You Were Out”, message pad, I get some amazing responses from clients and prospects. It states that “Evidently” didn’t receive my message. We also tried out several other phrases on the “While You Were Out”, mailings, which were great for selling annuities.
We know of another agent who uses this method to recruit agents. He has received a 75% response using the “While You Were Out message pad technique”.
5. For insurance marketing, you can’t rely on one pillar.
Your marketing strategy should aim to increase strength through diversity.
Your business is like a Greek Temple that is supported by many sturdy pillars. Each pillar represents a different aspect of your marketing campaign. You could have pillars such as telemarketing, direct sales, direct mail, postcards and flyers. There are many pillars. If you fail in any one of them, you will always have several pillars supporting your marketing program.
Numerous agents have told us that if the home office flyer is not successful, they will lose their business. This idea will almost guarantee your failure in this business. Imagine the potential commissions that you could generate if you combined a variety of marketing strategies, stabilizing your company with multiple pillars.
6. Your Insurance Business’ “Growth”
We’ve read many books and attended many seminars about how to grow your business. We have only three methods to grow any business. These techniques may seem too easy or not applicable to your particular situation. But imagine if these were actually used as the foundation of your business.
1. INCREASE the average sale of an insurance policy. Instead of charging $82.00 per Month, increase the coverage to $90.00.
2. INCREASE your client base. Target marketing consistent to a niche market will dramatically increase your sales and client base.
3. INCREASE the frequency for repurchases. You should always have other products that you can offer your clients. At least once every six months, you should contact your client. You can build your business by sending out a monthly newsletter to clients. You can find our “Annuity Pro Lead capture Web Page” if you are looking for a client newsletter.
7. Wrong Insurance Leads Ads: Investing thousands of dollars in Wrong Insurance Leads
It would be wonderful if you knew which offer would bring in the most qualified leads before you spend thousands of dollars on direct mail, postcards, or newspaper ads.
You will need to conduct your marketing test. Send multiple versions of your flyer or sales letter to the small number of mailing lists that you plan to use. A single version of a letter could have a strong headline and a free report entitled “8 Secrets on How to Get the Most Out of Your Retirement Years.” Hand-address envelopes. A different headline or benefit may be included in a second version of the letter. After testing, you can send the most effective version of the letter to all recipients with confidence.
You can increase your response rate by as much as 15% if your envelope is hand-addressed. Today, people who get an envelope with a label on them consider it junk mail.
8. A poor attitude
No matter what obstacles you face, a positive mental attitude is key to making your business succeed. There will always be challenges in any business. You need to deal with them. You must address them immediately and stop wondering “Why do bad things always happen?” Bad things can happen to anyone. People who are successful know how to overcome them. They don’t get frustrated by problems. They just learn how to solve them. They don’t believe the end of the earth is near.
Tony Robbins states that insanity can be defined as doing the same thing you’ve done all your life and expecting different results.
Example: If you are afraid to invest in marketing yourself, and keep doing so, your income will not change. Your results will not change if you don’t try to improve sales presentations, letters, or advertisements.
Your income will increase if you’re willing to try new marketing strategies and products. You will see a significant increase in your income if you implement the following formula into every sales presentation, letter, and advertisement.
1. Pay Attention! Attract interest and emotion.
3. Use believable stories to tell interesting stories.
4. Give a reason to take action… NOW!
5. Facilitate the actions you desire.
The most important thing to remember is: GET THE ATTENTIONS OF PEOPLE!
9. Your failure to succeed can be attributed to the “conditions” of insurance marketing
Many Insurance agents who fail in the insurance business blame someone or something. You must admit to your failures if you want to succeed in your business and in your personal life.
You have probably heard someone say, “It’s slow time of year.” After the first of the new year, I believe I will put more effort into my business. Right now, I am very busy. I don’t have the time to develop new products or market strategies. I don’t have the money to pay a secretary to help me with my $8.00 per hour office work. It didn’t work the first time I tried to place an ad in a flyer.
These excuses are not valid reasons to be less successful in the Insurance industry. Stop making excuses, and make things happen.
10. You should not offer additional insurance products and services to your customers.
It’s a well-known fact that clients who are already customers are more likely to buy from you than new prospects. You will get a chance to offer additional services if they are willing to spend a few moments with you. Your clients must trust you, not prospects. They should also enjoy doing business with your company again. You must treat your clients with respect, and ensure that they are satisfied with the service you provide. Your clients will be happy to refer qualified people and business to you if you provide the right service.
Let’s now get into the details.
Many of your clients and friends may be interested in other financial products that are safer and offer a high rate of return. Our office can assist you with a variety of products that can be used as an alternative to Annuities and CD’s.
You might think that if you sent out a postcard with a special report entitled, “10 Deadly Mistakes Many People Make When Planning for Retirement” and how to avoid them, some clients would respond and request a copy. Are you sure some people who get your FREE report (which is essentially sales letters) may want to make an appointment with your office to discuss these issues? Guess who they’ll ask for help?