Every insurance prospecting mailing list is different. A prospect mailing list that is just plain vanilla may look like a directory of residential states or even a phone book. Each insurance representative is listed. You can toss the old one in the trash each year. The garbage will become the new replacement for the old one. The new replacement list might also belong in the garbage. This type of prospect list directory is often fatal.
Do you feel tempted to make use of this directory for your insurance prospecting? There are many phones. 55% of the listed phones are also on the National, State, and Direct Marketing Association DONT CALL LIST. People get annoyed when you pester them with sales messages. You could also be fined if they report you. This would increase the total gas cost of your vehicle for the next 18 month. Your goal as a salesperson is to get new prospects to respond positively to your offer. It is not a goal to have lots of responsive prospects.
According to direct marketing experts, the most important factor in ensuring success with insurance is the list that you use to prospect. It is so important in prospecting for insurance that 60% of its importance is attributed to it. Properly written sales pieces can hold up to 30% of the overall value. 10% is reserved for creativity and timing, as well as the look and feel of your sales piece. Direct marketers often overlook or underestimate the importance of the list.
The value of a targeted compiled mailing list is comparable to the one above. This mailing list targets a specific group of people with similar characteristics. To create a targeted mailing list with multiple similarities, a list compiler draws on a variety of sources. The list is checked for special work abilities and geographic, demographic, or census data. Your “qualified” list will reward you with benefits. You will see an increase in prospects and a greater sales ratio.
List compilers may also be able to supply lists of respondents. Prospects who have responded more than once to offers are likely to accept them. A powerful prospect list can be created when you combine targeting and the responder aspect.
Finding responders who have previously purchased a product similar in quality is the absolute crown jewel.
Targeted mailing lists are effective because they target the right recipients. Targeted mailing lists are more cost-effective than traditional advertising methods. An insurance representative can contact a targeted group of people directly to avoid having to send the ad out to everyone who might ignore it. Direct marketers can tailor their messages to specific people. This makes the ad more relevant, and may even be more read. With the right list and a well-written sales piece, you can often get 10 dollars per dollar.
Direct mail is widely recognized as the strongest advertising medium. Even more powerful than email and the internet. You will see results if you put the right direct mail piece in front the right prospects. This is true if you’re willing to spend $100 more to earn $1,000 extra profits.