Business in the Crawlspace


Lessons from Your Insurance Agent by Dave Park "The Maverick Builder"

Geico is a MaveickSelling insurance is not easy. It's a highly competitive business filled with a confusing array of products. Consumers don't like to think about insurance, and they usually believe the price is too high. Many people believe that they don't need it, or they're simply willing to put off purchasing a policy until they have more time and/or money. Additionally, buying a policy can be confusing for the uninitiated consumer.


You've rustled up five leads from a topnotch online service. Ready to sell each and every one of them. At least, you think you're ready. Here are some tips to help you prepare to go 5 for 5.


1) Be Organized


Prior to calling anyone, you must be organized. Being organized refers to both the product you're selling and the method by which you sell it. First, you must know your product inside out and be able to talk about it easily. If a potential client has a question about term life insurance and his or her choices regarding length and amount of coverage, you need to be able to give them an accurate answer. When calling leads, be sure you have everything you need with you. It's preferable to call with your computer in front of you, enabling you to easily access any information you might require. You won't lose a sale if you're asked a question and you say, "Let me just double-check my computer," but you may lose it if you say, "I don't have that information right now, I'll have to get back to you on that."


You must also be prepared in the manner in which you go about pursuing your leads. It will take numerous phone calls before you connect with a lead. You'll need a system for tracking calls, taking notes after you speak with the lead and for determining the next action to be taken regarding that lead. It's very important that you take time to keep careful notes regarding a lead. Missing a follow-up call, forgetting to send requested materials or losing information essential to that lead will all have the same result-no sale.


2) Be Educated


Being educated means that you understand the marketplace, your products as well as your potential and existing clients. How do you know if you're properly educated? Ask yourself this simple question-what makes my service and product more valuable than any of the other services and products that crowd the insurance market? What is the value of what you are trying to sell and what separates it from all of the rest? Is it your commitment to service? Are you a full service agency, offering a broad range of products? Do your products carry great value-are they priced competitively but does the consumer get more for their money than from any other company? Perhaps you provide additional services free of charge-a monthly newsletter, portfolio planning or a yearly insurance review?


To define what gives your service and product value, you'll need to know what your competitors offer, understand what consumers want and determine the significant attributes of your products.


3) Be Quick


When you receive a fresh lead, you must act quickly. If someone has requested information, there's a small window of opportunity for you to make contact. Working against you is the fact that people are busy and it will usually take 5 calls or more for you to connect with a lead. If you have the opportunity to leave a message, do so each time you're given the chance. Hanging up on someone's voicemail is equivalent to never having made the call at all.


4) Be Polite and Professional


When contacting someone via the phone always remember that you are, in essence, in his or her home or territory. In other words, you're talking to someone because they are willing to listen to you. Always be polite and professional, even if the lead's behavior is not reciprocal. Ask if you've called at a good time and, if not, if there is a better time to call. Don't try to keep someone on the telephone if they've said they're busy. Always offer to contact the lead at another time or to send them information via e-mail or the post office. Try to keep the contact alive, and if they say they are not interested, ask if you might call them again in three months to see if they may be interested in your product. Even if you sell that lead nothing, you may still realize a sale due to your phone decorum. That lead that does not work out may know someone who's looking for insurance and your professional behavior may have impressed him or her enough to mention your company. One thing is for certain, if you're rude or non-professional, that person will definitely talk about your company to friends and family, and those conversations won't help you one bit.


5) Be Willing to Go the Extra Mile


Consumers constantly complain about bad service. Remember, you're working to earn the business of that lead and once you've done that; you're working to keep their business and possibly expand upon it. If you develop a reputation for good service and for going beyond the norm when it comes to service, your enterprise will be held in high regard and good word-of-mouth will provide you with more clients.


Leads do not sell themselves. Yes, there will be those rare times when you get that easy sale, but more often than not it will take persistence, effort, and knowledge for you to convert a real estate lead into a client. 


These 5 simple lessons from your insurance agent read in 15 minutes or less can save you hundreds of dollars in lost leads.




Dave Park is the Maverick BuilderAdvantage Inspection Raleigh

. . .  performs the Nation's Best Home Inspection and provides the Nation's Only "No Denied Claims Warranty" available in the industry. For the last 18 years, Advantage Inspection has been the deciding factor for the people we serve:  Buyers, Sellers, Real Estate Agents and Home Inspectors.  Advantage Inspection Raleigh serves Raleigh, Durham and the Triangle area.

Dave Park
Advantage Home Inspection Raleigh
"more than just an inspection company!"

Comment balloon 2 commentsDave Park • March 07 2010 07:56PM
Lessons from Your Insurance Agent by Dave Park "The Maverick…
Selling insurance is not easy. It's a highly competitive business filled with a confusing array of products. Consumers don't like to think about insurance, and they usually believe the price is too high. Many people believe that they don't need it,… more
Smith Barney Selling by Dave Park "The Maverick Builder"
How often do people try to sell us something before we have expressed an interest, have a desire, or are in the market for what they have? It seems the standard for many salespeople is to try to sell to anyone and everyone regardless of the… more
"Swipe" My Dirty Little Secrets by Dave Park "The…
"When people hire me to write marketing copy, they always ask, "Where do you come up with all those ideas? " I just smile and say thank you. Leaving them wanting more. But, there is no "more ". (That is TOP SECRET) &… more
Business Conflicted - Very Nice by Dave Park "The Maverick…
I had a fight this morning with the newspaper guy! We don't fight often, but sometimes it happens What can I say? "Was I the only one who noticed it was raining outside? " We're human… more
My Case Against Perfection by Dave Park "The Maverick Builder…
In OZ, after Dorothy's house is relocated to unsuitable soil, she was asked by the Lady in the Bubble, "Are you a good witch or a bad witch? " The same question goes for mother-in-laws and the answer is not a coin toss! … more
"Jack London: Writer or Marketing Genius" by Dave Park..
"Jack London: Writer and Marketing Genius" The Call of the Wild, Mr. London's most famous book is one that you may remember from your high school days. Mr. London wrote over 50 books in his short lifetime. Some of them non-fiction… more
"Toot Sweets" by Dave Park "The Maverick Builder"
"Imitation Sugar is Sweet, Too! " Imitation isn't only the sincerest form of flattery; it's also a power way to learn new business skills. Mark Twain learned how to write by imitating other writers. As a youth he set newspaper… more
Fall Down 7 Times, Get Up 8 by Dave Park "The Maverick Builder…
When I am invited to speak at events I always prepare myself for the same questions. What is tht formula for Success? I smile and they frown. "It's quite simple" I say, really. "Double your rate of failure. " I then pause… more
A Shareparian Prose "To Hire or Not To Hire" by Dave Park..
Many people read "do-it-yourself" books and think they now know everything about construction, home improvement, and even home inspections. But that's not really the case. With his firm Advantage Inspection based in Raleigh, Dave Park… more
Love - Hate Copy. by Dave Park "The Maverick Builder"
And I'm reminded of the days, many years ago, when I volunteered as a Pet Adoption Counselor with the SPCA. Looking back, I must have been training for what I do now. I had lots of enthusiasm. People often teased, "You're selling cats! "… more