This information will show you why it is difficult to survive and how failing fellow insurance marketing recruiters is an everyday occurrence.
FACT Only half of agent recruiters consider agent recruitment a sole, full-time job. Others find it more difficult to be an insurance marketing recruiter than they initially thought. It is important to immediately deal with income as it quickly becomes a problem. Many people choose to merge their personal sales products. Lack of marketing skills or training in recruiting is more dangerous than a viper and a cobra combined. Unfortunately, 47% of today’s insurance marketers will not be here in the next three years.
- TOO MANY RECRUITERS. Most brokers start with a MGA (Managing General Agent) contract from established insurance marketing companies. The Managing General Agent wins higher personal commissions. His producers win decent policy payments. And, of course, the insurance marketing company signs up more independent agents and gets higher sales volume. The foundation could easily fall, even though it isn’t a pyramid scheme.
This causes a problem for other sales agent recruiters. This new generation of casual agents has more contracts and is able to compete with them. Some brokers are tempted to enter the insurance marketing industry because of the potential for “easy money”.
- NO EXCLUSIVE MARKING RIGHTS. Insurance companies rarely grant exclusive territories to insurance marketers. This means that the insurance company does not have exclusive rights to market a particular product or its entire product line. This can lead to financial and recruiting problems for national independent insurance marketing agencies. A major insurance publisher might publish three different national companies in the latest issue. These full-page ads may be for the same product, and they could all be advertising the same producer. In turn. Many insurance companies don’t know how to market their products. A large number of potential brokers are not aware that their product is available.
- CHEAP MARKETERS ARE VERY RESISTANT TO CHANGE. There is more to reaching potential producers than just calling the number over and over. Cheap does not necessarily make it more profitable. However, it can be the most time-consuming and costly way to reach potential producers.
Telemarketing does not apply to Consumers lists. This is a huge misconception. Marketers want to call agents, semi-independent brokers and agents. The FTC rules apply to all three categories. You can choose from three types of agents. CAUTION: All cell phone numbers are protected. Do not call them. You must also get FTC approval before mass telephone soliciting anyone who hasn’t asked for your call.
Agent recruiters for insurance are expected to be able to contract top-notch agents. They must be able to work hard at their phone in order to find the ideal agent. Hire an outside marketing company or someone you can train at $10.00 an hour if you plan to call many agents. Consider how valuable your time is. It is likely that it is worth more then $10.000 an hour. Insurance is always changing. You can’t be flexible if you don’t want to.
- PROS and CONS of EMAILING. Unexperienced marketers don’t understand the benefits and drawbacks of emailing brokers. They believe they can buy a complete list of insurance agents to contact in-house. You won’t get your personal email list from any source. You can either believe me or spend hours searching for the answer. Be aware: There are many cons to Insurance Email List.
There isn’t (and likely never will be) an email directory that lists independent insurance agent addresses. Few agents are able to keep more than three email addresses. They will give one of these emails away, and the email address is used to collect spam. You should also know that every 12 months, one email will be deleted and one more added. Agents don’t like feeling like they’re just another number. To be exact, one out of 1,500,000. Agent email blasting involves sending an email to agents. Most have an email blocker that stops your message. Statistics show that only 2/3 of all emails reach an insurance agent. Spam whistle blowers can be effective and numerous.
Emailing insurance agents is a great way to get five stars. These agents should be ones you have already signed up for. They could also be leads from potential agents that you are following up. Always get their email address. Offer something free if you have an insurance website so that the agent can provide an email address. Agents can be reluctant for up to seven months before they decide to sign a contract. It is possible to attract additional producers by sending a series monthly emails. This is also a cost-effective and ideal way to inform your producers about other products that you offer.
