Insurance Agent Tip #7: Taking Advantage of Missed Opportunities

Posted by The "Insurance Lead Guru" – September 2, 2010

We’ve all heard the phrase “fish when the fish are biting,” but what if you were also the only one fishing? Here are some ideas to decrease your competition and increase returns.

. Agents typically work Monday through Friday during regular business hours, however many customers submit quote requests on the weekends when they have more disposable time to accomplish errands. Because of this, there can be an advantage to following-up with weekend insurance leads on the weekend since you can make contact when other agents aren’t working.

. According to a popular lead management system, leads generated on the weekend are 26% more likley to convert. It makes sense – less daily distractions make for more attentive consumers. Less competition also means less risk of consumer confusion or frustration holding up the process. And as we’ve mentioned before in Tip #1: The Early Bird Gets the Insurance Commission – there is a huge advantage to the company that contacts a consumer first.

. The same concept applies to off-hour internet insurance leads – like early morning or night. An agent could strategically focus their lead flow on hours that are considered too inconvenient by other agents – but very profitable for those who are working! For example, imagine an agent who was working incoming leads from 6-to-9 am while their competition is just getting to the office.

. Your experience with a lead company will often depend on the other agents working in your area. Try experimenting with different or complementary lead types – there might be less competition for certain leads, and once you’ve developed a relationship with that consumer you have a base of people you can cross-sell and get referrals from.

. Also look for trends in the geographic areas you convert well in. Since agents frequently work specific zip codes, you could discover a sweet spot where the sales regions of you and your strongest competition don’t overlap.

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Insurance Agent Tip #6: Perfecting Your Business Persona

Posted by The "Insurance Lead Guru" – August 28, 2010

Never underestimate the value of a professional and pleasant first impression. There are several factors to consider when putting your best foot forward to customers.

. Agents already know that a lead is not the same as a sale – your interaction with consumers is highly influential to your conversion rates. According to a popular lead management system, converting a lead is 57% lead quality and 43% sales process.

. Because of the unique comparison-shopping environment consumers expect with web leads, to win consumer preference it’s especially important to be professional.

. People often use sub-conscious cues when making decisions about agents and companies to work with. View your communication and appearance from the consumers’ perspective to make sure you’re representing a professional, experienced, and approachable agent.

. Replace free email accounts that are being used for customer communication. A small investment in a professional website and
email domain name helps establish consumer confidence in your
agency. Would you rather buy a professional service from
slydog@yahoo.com or john.doe@insurancepros.com? Domains are
inexpensive, easy to set-up, and can be purchased from companies
like GoDaddy.com and Register.com.

. A key element to being professional is removing personal expression. The wrong reference can be off-putting or even offensive to a customer that does not share your taste. Consider how your choices of ringback tones, hold music, email signatures, and religious or political statements could be affecting your customer pool.

. Customers are naturally drawn towards people who they like and feel comfortable around. Practice skills like maintaining friendly conversations in social situations, speaking slowly and clearly, being a good listener, and keeping an optimistic attitude. An agent’s personality can be a huge advantage.

. Stand up while you’re speaking on the phone – you’ll automatically project your voice with more confidence. You can also write a script ahead of time to follow along with until you know the right wording to use by memory.

. Remember that YOU are your most important business asset. Invest in yourself – through educational seminars, classes, webinars, online insurance forums and blogs, industry publications, and advice from professional acquaintances.

. You have the keys to success! Top producer Chuck Taggart expressed this concept in an interview recently: “I got into the insurance business because I liked being rewarded for my own efforts. The insurance industry is one of those places where if you work hard you can do well.”

Check out our TopPick Providers for Auto Insurance Leads , Annuity Leads, or any other type of Insurance Leads.

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Insurance Agent Tip #5: Taking It to the Next Level with Technology

Posted by The "Insurance Lead Guru" – August 23, 2010

The insurance industry is rapidly adopting technology to do more with less. We share some of the tools agents use to increase the efficiency and profitability of internet insurance leads.

. Do you need this technology to be profitable? Absolutely not! Plenty of agents are successful with online leads without using these programs. We just want to make sure you understand some of the options available when you’re ready to make a technological investment in your business.

. CRM/Lead Management Systems manage your leads so you can follow-up with the right contact at the right time. These programs will also help you track the success of your marketing efforts.

  1. . Specifics will vary by company, but common CRM features include:
    . Automatically import lead information into CRM system.
    . Assignment of leads to individual producers.
    . Auto-respond to new leads, typically by email.
    . Send automatic follow-up emails on a customized schedule.
    . Track performance of multiple insurance lead sources.
    . Schedule reminders for future follow-up – like birthdays or policy renewals.
    . Record email and call attempts for each lead.
    . Record notes and documents pertaining to a contact for easy retrieval.
    . There are many CRM systems competing for the insurance market at a range of price points. If you’re looking for a CRM system, here is a starter list of CRM companies to investigate:
  • . Dial Your Leads
    . Brokers Mojo
    . Leads360
    . Act
    . Salesforce.com . Inside Sales
    . Agency IQ . FreeCRM
    . Your Insurance Office
    . Broker Office . Insurance Digital Assistant
     . Sugar

. If you’re just getting started and want an inexpensive method to stay on top of leads, use Microsoft Outlook to schedule emails for a later date, or its calendar to set follow-up reminders. Whether you schedule a follow-up call 2 days or 6 months from now, you’ll have a system in place to remind you to make contact. Google Calendar is another free scheduling option that’s also available.

. Live Transfer Services will contact and pre-screen online insurance leads before transferring the consumer directly to an agent.

This method is more expensive, but also less time-consuming because the live transfer company is making the initial contact for you. Because of the higher cost, it will be important to keep track of ROI to ensure profitability. “Companies offering live transfer include Dial Your Leads, DoublePositive, and LeadPod.

. Auto Dialers save time by calling a lead with one click, and if the contact is unreachable it will leave a pre-recorded message while dialing your next contact. Some also scrub a list of emails against the National Do Not Call list. This list on auto dialers will help you begin your search:

  • . Make My Calls by Mojo
    .Cheetah Power Dialer
    .Voicent

To get reviews of the top online insurance leads providers visit TopPickLeadss.com

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Insurance Agent Tip #4: Test to Learn What Works for You

Posted by The "Insurance Lead Guru" – August 18, 2010

Conduct research about insurance lead companies and you’ll find a lot of conflicting information. The reality is that a good lead source will be unique to your situation, and you’ll need to test to find the right fit.

  •  Be sure to test multiple lead providers, and compare their return on investment to determine the companies that work best for you. No one company will work best for all agents; success often depends on an agent’s geography, selling style, competition, volume and lead type.
  • Be aware that much of the information you hear and read about lead companies can be biased. You will often hear a lot more about what doesn’t work than what does. If an agent has a great source of leads, they usually don’t want other agents to know about it – doing so could increase their competition and prices.
  •  Take it a step further and compare your ROI between different Annuity leads types – some companies might be stronger in some insurance lead types and weaker in others.
  •  There’s many things to consider when choosing insurance lead companies to test: Is the lead shared or exclusive? If shared, what is the maximum number of agents who will receive that lead?
  • How do they generate the life insurance leads or any insurance leads? Many believe that the method has a large influence on the likelihood of that lead to convert.
  • Do you have the availability to stop if dissatisfied, or are there contracts that require a minimum commitment?
  • Do they use incentives – such as an iPod giveaway – to generate leads? Beware – this is a method some companies use to generate a large volume of low-converting leads!
  • Do they resell old leads? Are the leads delivered in real-time? This will vary by company, but typically newer leads have higher conversion rates.
  • Do they have a return policy that is fair and easy to understand?
  • Ready to master your marketing mix? Use the ROI formula to compare web leads against your other marketing efforts.
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Insurance Agent Tip #3: Understanding The Consumer Experience

Posted by The "Insurance Lead Guru" – August 16, 2010

You’ve received your first online insurance leads – congratulations! Now what? Understanding the mind-set of the person requesting the quote is important when making first contact.

. All Web Leads for instance operates a network of websites that help consumers assemble competitive quotes from insurance
agents. Once at the website, consumers fill out a simple
quote request form that is specific to the type of insurance
they’re interested in buying. Our advanced technology
distributes these leads based on agent profiles. Below you’ll
see the main homepage of USInsuranceOnline.com, one of
All Web Leads insurance-comparison websites.

. Keep in mind that the consumer will not be familiar with the insurance lead providers company name – our network of websites each have their own unique brand identity that’s specific to the type of insurance consumers were
researching online. Since you won’t know what site they
used to request a quote, take that into consideration when
introducing yourself for the first time and use more generic terminology when describing the reason for your call.

. Here’s an example script to start the conversation off right:

Hello – may I please speak to [consumer name]? Hello [consumer name], my name is [agent name] and I’m calling from [agency]. I received your online request for [type] insurance and I’d be happy to assist you. Is now a good time to speak?

. Because leads are typically shared with multiple agents, the longer you wait to follow-up with an online insurance lead increases the likelihood that they will speak to another agent first.

. Sometimes it can be confusing for a consumer to speak to 5 insurance agents at once. Because a consumer will be speaking to multiple agents, it’s very important to make a positive first impression. Being professional, prompt, and memorable is key to your success.

. Take a few moments to familiarize yourself with the insurance lead information before making contact. Because consumers have filled out a detailed quote request form, they expect agents to be familiar with their basic information. We found that consumers become frustrated when asked again for information they just provided online. It’s fine to check the accuracy of your information, just make it clear to the consumer that you want to confirm the information you received.

. Work Online insurance leads long enough and you’re bound to run into a consumer overwhelmed with choices. A few understanding words and some light humor can go a long way to building a relationship with your lead and opening the door to future conversation. Sometimes a consumer doesn’t respond to initial contact, and then reaches out to 1 or 2 select agents weeks later to finish their purchase. In those situations, being light-hearted, sincere and memorable in your initial contact will make all the difference.

. If you are contacting a consumer in your area, it could be an advantage to mention that you are local. From the consumer’s perspective, getting insurance quotes online might seem impersonal and anonymous. If you’re working locally, mentioning you’re in the same area will help the consumer relate to you and generate trust. It is also an additional selling point if a consumer prefers to meet in-person or likes to have a brick-and-mortar office available to them.

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Insurance Agent Tip #2: Defining Success Through ROI

Posted by The "Insurance Lead Guru" – August 13, 2010

Ok Agents its time to get out your calculators! Too often new insurance agents use “gut feelings” to make business decisions when their own data is all they need to determine what marketing initiatives are making them money.

  • To know how successful your marketing efforts are, its important to track your return on investment (ROI) – that is, how much you make vs. how much you spend.
  • To calculate your ROI, add you own data into this formula:

             Commissions from policy Sales
—————————————————  = ROI
      (Cost of leads + # of leads purchased)

Now lets see that same formula
with the following example data:

           $800 in Commissions
          —————————— =$3.35 ROI
              ($7.95 + 30 Leads)

  • Another way to look at the above return-on-investment example: if you have a $3.35 ROI – then for every $1 in marketing dollars, you receive $3.35 in commissions. That is like earning a 235% return on your money!
  • There is no “right” ROI number – try a variety of tactics to get an idea of what a good ROI is for you. However, if you have a ROI that is less than$1, then you are losing money and should re-evaluate your marketing strategy.
  • Agents often incorrectly focus purely on closing ratio and contact ratio. While these metrics do demonstrate the relative quality of leads, it does not take into consideration the cost of obtaining those leads in the first place. A higher closing ratio definitly helps and saves you time.
  • That being said, agents are also making a mistake if they only consider price when choosing an online lead company. Price is only part of the equation when determining whether or not leads are profitable. After all, its no good to get a lot of cheap leads if not enough are converting into sales. Price and quality And Return (commissions) work together to determine the best value.
  • Dont get discouraged because your initial life insurance leads didnt convert – look at the big picture! Before calculating your ROI you need to have statistically significant data. We recommend at least 30 Insurance Lesds to really get an accurate representation of how a comany’s leads will work for you. Too often agents give up too soon because they dont have enough data to realize their long term ROI.

Visit our website TopPickLeads.com to find out what companies offer the best Internet Insurance Leads

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Insurance Agent Tip #1: The Early Bird Gets The Commission

Posted by The "Insurance Lead Guru" – August 9, 2010

The most important advice we can offer Insurance agents is to ACT FAST! Once you get a lead, its crucial that you make contact immediately!

  • Because most insurance leads are delivered in real-time, aggressive agents can speak with comsumers while they’re still sitting in front of their computers.
  • We’re talking just a matter of minutes, not hours like in the past. 2 hours = way too long! A delayed response means a consumer may have gotten impatient and filled out other insurance quote forms, become busy with another task, or already begun speaking with another agent.
  • According to popular lead managent system, leads convert 22 times more often when contacted within 5 minutes and 78% of prospects convert with the company that contacts them first.
  • Ask to receive leads via e-mail and text message. Many insurance agents dont opt-in to text message notification of leads, but by doing so you’ll gain the ability to make fast contact while away from your desk – at lunch, in meetings, during off hours, and while visiting other customers. Best of all, its 100% free!
  • If you receive a lead when you arent able to provide a quote send an e-mail or place a quick call to introduce youself in a timely manner and request a mutually-beneficial time to speak further. The consumer will associate you with prompt customer service and will be less likely to make a purchase until they have recieved all of their options.
  • Have the ability to email from your cell phone? If so – Keep an introductory email draft on your phone for quick customer acknowledgement while your’re on the go. Here’s an example email to use when you want to make initial contact but don’t have time for a full conversation.

Dear (Name),

Thank you for your online quote request for (type) insurance. I appreciate the opportunity to find a policy that’s right for you. I will be in touch shortly to discuss your insurance needs.

Sincerely,
Agent Name
Agency Name
Contact Phone Number
Contact E-Mail

  • Use technology to automatically respond for you! Even the most diligent agent can’t be everywhere at all times. We share more information about using technology to make first contact in Tip #5: Taking it to the next level with technology.

Simply click on the following link to get more information about purchasing  insurance leads.

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Prospecting Insurance Leads? Then Visit TopPickLeads.com

Posted by The "Insurance Lead Guru" – May 17, 2010

http://www.toppickleads.com/insurance_leads.html Dont Prospecting Insurance Leads? We Reviewed the Top Insurance Sales leads Providers. Find out whos best & Try their Insurance Leads for FREE! More…

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Dont Buy Live Transfer Insurance Leads Yet!

Posted by The "Insurance Lead Guru" – May 14, 2010

http://www.toppickleads.com Dont Buy Live Transfer Insurance Leads Yet! We Reviewed the Top Live Transfer insurance leads Providers, find out who’s best, & Try their Live Transfer Leads for FREE! More…

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Dont Buy Live Transfer Insurance Leads Yet!

Posted by The "Insurance Lead Guru" – May 14, 2010

http://www.toppickleads.com Dont Buy Live Transfer Insurance Leads Yet! We Reviewed the Top Live Transfer insurance leads Providers, find out who’s best, & Try their Live Transfer Leads for FREE! More…

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