Middle Class Insurance Customers Marketing Analysis – Too Many Donuts With No Filling

This marketing analysis focuses on middle-class insurance customers. Learn why insurance companies ignore this large group of customers who have definite coverage requirements.

Insurance companies and agents are both responsible for the majority of the blame. It all starts with the insurance agent. This is the first step to obtaining enough customers and premiums for the next four years. My marketing analysis has shown that only 7 percent of 100 agents survive this long. Their income, even with subsidies, is $15,000 lower than the average per capita income in most US states. Surprisingly, agents who sell financial products to customers are more likely to fail than those who sell automobiles, homeowners, life insurance, or health products.

THE AGENTS LOGIC COMMISSION TR Because an agent’s income is supported by premiums and income, it is easy to create a false impression. Agents who sell home owner insurance can earn up to six times as much compensation than those who market a $150,000 policy. The same analysis shows that a life insurance agent who sells a $4,000 premium life policy might make $3,200, instead of $800 for an $1,000 policy. GREED SELLERinstead needing to sell to middle-class insurance customers.

THE BIG HEAD TROP I recently discovered 130 alternative titles and variations to “agent” in a study. A large number of agents would like to be called specialists, professionals or counselors. All of this is often accompanied by the term “financial”. Because they believe these words are what customers want to hear, financial is often used in an inappropriate way as a substitute for risk. Falsely, the agent wants prospective clients to believe they are dealing directly with a financial professional. Wealthy clients want financial professionals to work with them. EGO SELLER Instead of selling to middle-class people, insurance risk protection is required.

THE INSURANCE CORPORATION NAME GAME You can verify my information by visiting the home page of any insurance company website. This is especially true for companies with a history that spans over 100 years. Hardly any carrier says they are seeking new “agents.” They rave about the possibilities for financial representatives, regardless of product sold. Why? They are determined to take advantage of the wealth and jumbo insurance customers, and ignore the middle-class. A new agent cannot sell financial products or give investment advice. It requires years of education and experience in full-scale planning. There are also many errors and omissions. It is difficult to talk with prospects about converting hundreds of thousands of dollars using asset strategy.

SAFETY in NUMBERS An analysis of my personal sales career revealed that 90% of total premiums, and nearly 97% of my sales to middle-class people was a result of selling insurance. Because I realized the importance of giving so many marketing presentations, I had a very successful career. It was a solution to give 20 appointments per week to middle-class prospects who had real needs. False hope is attempting to induce the emotional need and buy urge in wealthy clients who are being pursued. A close to 90% closing rate beats 35% to 45 % by more than twice. Safety in numbers often reaps benefits that are not realized. Multiple policy sales were common, with shorter presentations and the need to do later, more profitable policy review work.

MIDDLE CLASS Few middle-class people have insurance education on properly protecting their most valuable assets at a reasonable price. Agents are trying to meet the basic needs of life, major medical, home, disability benefits and long-term care. There are many agents available to help with the money and needs of those in need. It’s time to get the donuts. Honest Selling to Middle Class Insurance Customers equals Quality Agent Rewards.