This is my best advice for life insurance sales. If a person decides to become involved in life insurance marketing, it is their decision. Investing in life insurance marketing is an investment in yourself.
Life insurance marketing isn’t an occupation. It is a business and should be treated accordingly. Without a lot of time and capital, it is impossible to start a business. Four out of five new businesses fail quickly. Lack of investment and insufficient management skills are the main causes of business failure. Each of these factors can cause a complete collapse. It doesn’t matter if you have the best skills or how to get people to respond. If you don’t invest in these prospects, all your efforts will be wasted.
It is possible to invest 60 hours per week in your life insurance sales ventures. This is the most frequent occurrence in my business. I ask these dedicated laborers, “How many qualified prospects do you obtain?” I ask them, “How do you obtain these potential clients or brokers?” Minimum 75% of the times, the answer is “I or my company calls every person on the list.” Next, I ask: “What prospect list do you use for your prospecting?” I don’t feel any hesitation or doubt when I tell you that the best prospect list is the one available. I think to myself, there is no other lost cause with zero to zero success using the present methods.
This is my proven sales advice. This is a complete backwards step. The worst way to spend your money is to buy the cheapest list. They are also promoting life insurance protection, but not at the lowest premiums. They are obtaining a low-grade risk investment list by cheaply purchasing it. A poor list can make it difficult to acquire potential clients or agents. It is important to live by what you preach. The best life insurance is what people should buy. A top prospecting list is essential for insurance marketers to maximize their sales potential. This crucial decision should be made based on logic, not the lowest initial cost. The most accurate list is often the one with the lowest price.
Additional sales advice: Calling your prospects one-by-one by personal telephone is the worst prospecting technique. Do you want to waste hours on life insurance marketing? My goal was to maximize sales production. Prospecting is an important element in increasing production. However, it’s not meant to take too much time. Professional telemarketing can be a big step in the right direction, but automatic phone dialing systems represent a huge leap. Your chances of reaching your goals are greater if you spend more time prospecting by phone. Phone prospecting is a waste of time. Time is money.
This method is so popular when there are better options. Similar answer to the above. Cheapness. This is stupid logic that is triggered by a lack of willingness to invest in the long-term future. Combining cheap prospect lists and a cheap prospect listing is a powerful combination. This is a sure-fire way to explode right in front of your eyes. GUARANTEED. There is no warranty.
The first step in solving a problem is to recognize it. These problems are often overlooked by life insurance salespeople. Many people don’t take the necessary steps to make a personal investment. This is why there is so much turnover. Acknowledging the risks you need to make is the only way to transform your life insurance career from one that is a job.