Many problems can spread like a virus. Insurance marketing professionals contract the virus from their colleagues. You can do this by following certain death methods. Here are 10 contagious viruses. There are also tips to help you find the right treatment. It is impossible to solve one problem. Other problems will keep you from success.
10 INSURANCE-MARKETING PROBLEMS with Tips to Overcome them
1. Quantity over quality You have to get rid of this parasite from your brain. You may have had it implanted as an insurance novice, and you haven’t been able to get rid of it. 100% of nothing is not something, and 0% of 500, but 70% of 5, is something. Quantity and cheap are not the same thing. You should only consider cost as an investment in your own capabilities. You don’t think highly of your capabilities if you are cheap. The best quality in insurance marketing comes at a reasonable price and uses the most effective means. The best agents to target, the best prospecting methods and the best service.
2. Defined Recruiting Strategy Fully 60% of insurance marketers who inquire about potential agents can’t answer any questions before calling. They move on with their recruiting efforts, but they don’t know what their recruiting strategy is. They are not open to learning about the best methods available in today’s market. The exact product type, geographic location, and target brokers are all things that have yet to be determined. The discussion continues with the question of how many brokers will be recruited, which recruiting method will be used and whether the brokers will work at your office or be independent.
Common questions and answers. “I am just looking for list prices for my boss.” Another option is to request a list that I can personally email. What is your delivery rate? This question should be about contracting agents that can produce goals. That is the whole point of recruiting. Common requests include “I need a list with 100 agents I can call.” This is only a first step. Smart money requires you to take risks. Many marketers believe it is too difficult to get some advice. Soon their names will be listed under the “no longer insurance marketers” column.
3. Marketing exaggeration Take a close look at the following items. Insurance marketers send mass emails to try and get an immediate response. A large ad in trade magazines, either by marketing firms or insurance companies, can also be used to get an instant response. You can also see the direct mail messages sent out to agents in an attempt to get them to sign up for their products. 75% of marketing companies and insurance companies are wrong. Others believe that the company name alone can be enough to hire agents. Some people exaggerate. It is easy to board a cruise ship or take part in an exotic company excursion. You can almost guarantee that an agent will make $200,000 per year using this easy-to-implement system.
This is rubbish to 90% of potential brokers. They don’t want to change the plan that works for them. This is especially true if they have to take a huge risk and not have a safety net. These potential brokers will be open to new ideas and may even experiment with new techniques if they feel that their income is not going downhill. It is not important to mention the name of the insurance company.
4. The loss of recruiting money This should be described as the dumbest waste of money that was caused by 20-year-old marketing techniques. Nearly 70% of all the recruitment mailers were sent using first-class mail in the past. Bulk mail could sometimes be delayed up to 30 days, according to marketers. It is now time to be sensible. The postal service wisely switched from “bulk mail to standard mail.” Few agents could give a clear answer if you asked them the difference between first and standard mail. Standard mail saves 40%, according to you. This could save you thousands of dollars each year and even allow you to send a free mailing. Make the right decision. Is it really important if your message arrives on Monday, or Friday?
5. Lights of the Big City Very rarely does a brokerage set up its local headquarters within a small community or rural area. Chicago, Illinois, is the “prime location”, while Fenton, Michigan, is “the unknown sticks”. This six-state operation will spend 60% of its marketing budget in the Chicago metro area due to marketing incompetence and laziness. Green Bay, Indianapolis, Minneapolis and Metro Detroit are likely to receive a large portion of the remaining funds. The next Regional Midwestern Competitor will do the same thing, as the others. They keep hammering the exact same group of potential brokers over and over. Mailboxes explode, phones burn out, and email addresses explode to excess with all the junk mail.
How can you help me? The voice of small-town and rural agents. Few people belong to the local association, and fewer receive financial trade publications or insurance information. Because they don’t get as many insurance offers that interest them, not all of the offers are junk mail. Smart insurance marketers know that they are the most loyal and easiest to sell additional products.
6. They are worthless agents. These brokers can cause impotence in your agency. Too many insurance brokers have a dream. They believe that if they let the broker go, he’ll start writing cases for a competitor. This is a risk you can take. It is up to you to take control.
7. Eliminate Size This is a similar situation to the one above. It is important to know that over half of the insurance marketing firms have no cases submitted. They keep them to advertise that they have 500 brokers when in reality it could be only 200. You can save the bragging and overhead. Your integrity is something your other producers will appreciate.
8. Old Recruitment Methods. Some 20-year old marketing and recruitment methods are just as ineffective as 20-year old computers. You can either try it out or do some research from a trusted source to determine what works best for you. First, consider the facts if you insist on personal phone prospecting. Nearly every broker owns a cell phone that is used for business purposes. It is illegal to buy cell phone numbers. Second, more than 55% of all home phones are on a do not call list. A fine of over $11,000 could be imposed for calling the wrong person. Common sense is also a good idea. Are you more likely to spend $80.00 an hour or $8.00 an hour?
9. Website setup Your website is likely a castle built in the sand with no entrances. A professional website designer was hired, but that job does not involve attracting visitor traffic. This requires an SEO – search engine optimization professional. You don’t want a site that isn’t attractive or one where brokers call you. Google is an ugly and plain-looking site, but it knows how to make money. You can hire visitors or buy traffic from quality brokers.
10. Writing a Sales Message Nearly all of them were completely wrong. It is worth doing some research to determine the steps that your message should cover. It should not be kept a secret. The broker should know what your product does to improve client service and increase compensation. BOTH. This tip alone will put you in front of the majority of your competitors.
