Rarely are there any tips or advice for insurance brokerage marketing. This is not a sales tip, but a way to target the best brokerage brokers. This article will explain how to target these brokers using brokerage marketing. These are not just tips. They also outline the steps that brokerage marketing firms need to take in order to target the best brokers in the market.
1,000,000 agents in the field of life and health do not broker. Around 480,000 of these agents could be considered brokers. Many insurance brokerages focus their sales efforts on one agent and do not research the brokers. Titled insurance mailing list compilers are the few firms capable of doing this sorting. They are able to research and compile a list based on a variety of sources. You, the marketer, must target only the top brokers. You can, and you’ll see why.
A major concern when compiling vast broker and agent data market information is that it goes beyond the normal. We mean the many sources that can give you your name, address, and phone number on the combination agents and brokers. These are often very cheap and will not give you the results you want. This is not a wise investment.
Let’s say you are a national, regional or state-based insurance brokerage marketing company looking for the best brokers to sell your annuity product. A normal list broker will inform you that there are 28500 sales brokers and agents in your target state. According to the researched list compiler, there are 8200 annuity broker. You have the budget to target between 4,000 and 5,000 brokers. Smart sales tips would include that these are the best agents for your product.
Now, you can only target the top brokers. In fact, you’ll see that you have two options. This feat is possible if your insurance list compiler has extensive experience and records that go back many years. A list compiler might be familiar with the companies that this broker is assigned to. This skill is used to match companies with an insurance company that specializes in selling annuities. It is possible to scan through broker files and determine how many companies they represent when selling a product.
Take a look at the above-mentioned insurance brokerage marketing sales project. Only 4,000-5,000 annuity brokers are needed, and only the very best. This challenge could only be handled by an experienced and qualified insurance list compiler. We will give you sales tips for requesting one of the two options. Both will be considered.
Option 1: Company Representation
You may have 10 potential annuity insurers and you need to market those brokers. A minimum of five insurance companies are usually required. The internal program then selects only the people who represent one of the requested providers. It then ensures that each agent’s name is not shown more than once as agents can represent more companies. The result = 4,023 annuity producers. Mission accomplished.
Option 2: The Responders
Imagine that you were advertising a $19.99 TV product and your target audience was people who have bought similar products at least three times. Imagine how much more sales you could get by targeting them than by simply mailing the general public. Now take this idea and apply it to the limited number of annuity brokers you have requested. A little bit of internal magic is done by the insurance list compiler. First, all annuity broker names in the state are removed from any other agent or broker names. The next step is to select only those who represent three or more annuity carriers. This is similar to the process of deciding whether or not to buy a product that’s identical to one you have already purchased three times. The best annuity respondents were 4,985. Mission accomplished.
Final comments and sales tips
A list of high-quality similar product producers can be used to make insurance brokerage marketing sales. It should also be compared with ready and able insurance leads. Only work with the best if you want to be the best.
Don Yerke is a published author who likes to focus on the things you don’t know and what no one else dares print. It’s okay to tell it as it is.
His new paperback book will be available on Amazon in the summer. This book is packed with valuable information about insurance brokerage, sales, and recruitment.