You will often see the largest ads in classifieds as sales opportunities. The more difficult the words, the better the opportunity. These ads are written by the most skilled sales copywriters. This is particularly true for new agent recruitment by Insurance Companies and companies. Their insurance ads stand out and are the most attractive of all sales opportunities.
Many of these insurance companies have added an internet address to their websites, so you can access a lot of fluff. A nine-page advertisement is actually in my possession, which is an absolute knockout.
Let me first give you a brief glimpse of reality. Then I will go back to the fantasy.
Senior citizens don’t believe that “Help me, I’ve fallen and can’t get back up” is the right mantra. This is the cry of new insurance agents as they fall further downhill. Below lies the career death pit, already mixed with others still struggling and those too hurt to go on. You will lose for four years if you answer any of the ads. Over 90% of your fellow agents will soon fall. Not being successful in earning is enough to ensure survival for four years. Others have also survived and prospered like me. It’s up to you to make sure that nothing I read about insurance was true.
THE ULTIMATE FANTASY AD EXPOSED Here are some statements from insurance advertisements.
1. In their first year, _________ agents can make more than $100,000. Currently, 9% of insurance agents earn $100,000 later on when they become product specialists.
2. FREE Lead Program. This trotline has more hooks, snags and lures than a catfish trotline. The Wiggly bait always falls away. To obtain a quality lead for insurance, it costs between $50.00 and $75.00. There is no guarantee that an insurance lead will result in a sale. You might give a lead if someone offers $500 or more.
3. Training in product and sales is free. This information is available via weekly emails and from the Dallas home office. How is it possible that 94% of local agents fail?
4. Our management team has over 100 years combined experience. We have a success plan that will work for our agents. 100 years combined experience is nothing. This could be two people with 40-year average performance combined with five people who have 4 years experience. Each new agent recruitment firm can claim to have a unique success plan. Because NONE of them have a proven success strategy.
5. You can sell over the telephone with this option. Wow! What number of life and health insurance agents sell a client a policy over the telephone? Most likely less than 1%.
6. They offer trips to Mexico, the Caribbean and Orlando to their best producers. (during hurricane seasons? You and a friend can win round-trip airfare, as well as tickets to the awards banquet. How about lodging costs? What about the cost of accommodation?
7. With a $3,000 annualized premium and 4 sales per week, they calculate that the average weekly income of $102,953 will be generated by selling lead credits. First, lead credit is a deducted from income and not a value. Because most of these sales involve major medical, there is still the possibility that 208 policies will be written for 3,000 premium. This is $624,000 worth of premium written and issued. It was $100,000 to make the management aware that a new agent could get 50% of the profits.
BACK TO REALITY LAND – A LAND FOR INSURANCE BEGINNER More than 60% of newly hired agents make enough money in their first year. The typical income (without subsidies), is $15,000, $20,000 and $25,000 respectively. There are usually one to two sales per week and $1,000 premiums. It is rare to find real sales training.. Company-provided scripts and manuals can be hard sell and are not prospect friendly. Since true leads are rare, phone books are sometimes called your “book of leads”. You will feel elated to sell your family, friends, or relatives. Keep in mind that all future money earned from sales is yours and the insurance company’s property.