Independent insurance brokers will do anything to get a 200% increase in their salary commissions. Learn how and why a broker’s salary with total commissions rising 20% is a better deal. Independent insurance brokers are often not attracted by marketing campaigns.
Imagine yourself as an insurance salesperson who is earning a commission on every sale, instead of a salary. You can choose the direction and pace of your career. These are the same characteristics that independent brokers possess. You suddenly get a job offer that promises to double or triple the salary if your follow these proven methods to become part of this team. Would you consider it?
Are you an insurance product marketer offering agents the chance to double their commissions? This is a 200% increase. You could make $250,000+ by competing with your competitors using their secretly-developed weapons. They even show how much one of their top-producing producers has been receiving since they adopted these new techniques. This is true, even though it may not be realistic. Insurance marketers can manipulate commission numbers and sales production to make their offer almost certain. It rarely does them any good.
Is it possible for an insurance marketer to be enticed in the same way? I offer you a 200% raise in your salary, commission and overrides, as well as a new marketing company. My 26 years of experience, backed by facts and proven methods, show me how you can succeed. Would you stop doing what you’re doing and have enough faith in me to accept my offer? Why would you expect agents to take what you have to offer?
Why big offers don’t work You don’t think like a broker. The agent would need to produce almost 100% for the broker or marketer to be able to offer such a large increase in income. You should target experienced, well-trained agents who are not already likely to fail. It is impossible to change the fate of agents who have had a failure rate exceeding 90%. You should target experienced brokers.
You might have forgotten the most important steps in establishing a compatible partner. Thesaurus definitions of independent include the following terms: self-reliant; liberated; self-regulating; unconstrained; on your own, distinct; detached, self supporting and unconnected. All these freedom benefits were given to brokers when they became a free agent and no longer wanted to be under an agency’s control. Independent brokers would need to surrender many of the freedom benefits they received to remain under your control. This is similar to asking former prisoners to return to a supervised locked-in setting.
200% Commission of Nothing is Nothing Many marketing people feel that they are giving the insurance companies what they want. Independently, insurance brokers seek out what they want. They are reluctant to lose so much of the work they have put in. Sometimes they have greater faith in the casino or lottery than they do in you. This is asking for too much trust. You and the broker can end up in a losing situation if what you think they want turns out to be different from what they really want.
20% Commission of Something An average broker might make $65,000 if he works only on commissions. The independent broker in insurance is trying to realize his goal. He or she wants to increase their income by 20% over the next twelve months. This means increasing your commission earnings to increase your income from $65,000 up to $78,000. If it means that you are putting your entire knowledge at risk, there is no reason to want to make $130,000 or $250,000. It is not worth risking your independence and putting your life at risk by attempting to venture out without a written guarantee. It is possible to increase 20% through the addition of a new product, increasing leads, or higher commissions.
The Insurance Marketer Attracting brokers Realize that you can have a piece of the cake, but not all. Independent agents are need-based. Many of those earning $65,000 today may become $130,000-plus earners tomorrow. Eighty percent of brokers are looking to increase their commissions by 20%. Brokers can be considered a long-term investment. You start by giving them 1/5 of their business. You can increase their sales skills by getting them to sell other products. The business grows year after year.
Anybody who has been in the insurance business for more than a year knows this isn’t a utopia. Keep you and the brokers you’re targeting in the real world. You will earn trust and loyalty from them, as well as an increase in your income.