After you have become an insurance trainee, an insurance company office may try to guide your future. You and your long-time insurance professional share one thing in common. You are both in business for yourselves. You are not reimbursed for gas, time or costs associated with obtaining people to learn more about your insurance products.
You can save your time, gas, and money by contacting genuine prospects that result in sales that exceed all of these costs. Your sale must generate a profit that contributes to your survival or growth.
Telemarketing company employees don’t care about making a profit. Telemarketers are paid to make phone calls and convince people to schedule appointments. What length of time can you stand to be on the phone with a telemarketer calling you? On average, it takes 8 minutes to speak to someone. Eight hours of dialing for dollars would be equivalent to 56 attempts at persuading people. They feel under pressure to make appointments. It is not easy to get someone to agree after 7 or 7 objections and no’s.
You are not present at the telemarketing call. Are they really interested in selling to prospects? These appointments might be with prospects who have little or no interest in buying. If your appointment sales ratio is 25%, you may be responsible for gas and time. What amount are you able to save for your income?
Telemarketing, which is making their own calls, works out to be less than minimum wage for most agents. Call calling good old-fashioned is not a good idea. You might be charged $12.50 an hour or $500 for 40 hours by a telemarketing company. How much will you make? Telemarketing would be a standard practice for professional agents. Few do.
Direct mail marketing for insurance puts you in complete control. The telemarketing company cannot control the prospect profile. You can find couples between 27 and 31 years old, who own their home, have children, are earning $50,000 or more, and are engaged in a specific occupation. This is the exact audience that will receive your sales message. Is telemarketing limited to calling potential prospects like this?
SECRET Telemarketing companies and charities often use a list of “suckers”. This could be a list of people who have purchased items twice from TV ads. It could also be a list that has given yes to multiple appointments with different types of salespeople.
Direct mail marketing for insurance is reliable. You will soon be able to estimate the cost of each appointment after a few attempts. Let’s assume that a telemarketing or insurance mail appointment will cost the same. Or give the telemarketing company an extra 50% in appointment fees. Direct mail still wins.
Your insurance direct mail program can still make you financially successful. They will respond to your direct mail program without pressure and want more information. You should close 50% of potential prospects who are truly interested in learning more about you and your services. Many insurance professionals have closing ratios of 75% or higher.
WHAT DO YOU GET FROM THIS?
This is the question that you need to ask. This is the question that your prospects want to answer.
You can double your sales closing ratio and more than double your sales numbers. Prospects who are interested in your services will either spend more to solve their problems or be open to multiple sales. If you push a prospect, chances are that you will make at least one sale. You don’t have to go on wild goose chases with your gas money. What about your most valuable resource, time? You can have more sales appointments, which leads to more sales.
Look for the ideal client list and then read our articles about how to create a sales letter that is effective. You will get the highest return on your investment.
You can make a decent businessperson’s income and take full control of your life. There is a lot of opportunity.
