August 04, 2016
The 3rd quarter of the year is upon us and it is now time to kick things in gear to accelerate your home and auto insurance sales. This will help you hit your end of year bonus targets and revenue plan. The following are 8 tips to help you accelerate your insurance sales in the 3rd quarter and throughout the year.
1. Contact your single policy clients to see if you can offer them additional products. These are usually easy sales. You can offer bundled policy discounts and consolidated billing to save them money and make their lives easier. The best way to contact your clients is by phone and if they are busy, you can schedule a future time to talk. This should be done at a minimum of once a year with all your clients. This is also provide an opportunity for you to deepen your relationship with your clients and will help improve your retention rates.
2. Hold weekly “lead marathon”. A lead marathon is an all-day focused day of working leads and making sales. This focus will enable you to build your sales funnel and generate sales not only on that day, but over the course of several weeks. You should purchase auto insurance and home insurance leads and calls to maximize your opportunities. The more lead marathons you can hold a month, the more sales you will make.
3.Expand your geographic target. Traditionally agents have been taught to sell insurance within 5-10 miles of their office. This paradigm is outdated and agents should be selling statewide to maximize their potential clients. Today home and auto insurance buyers are willing to work with insurance agents regardless of where they are located, as long as they receive superior service.
4. Establish sales contest for yourself and your team. Whether you have multiple producers or work alone, having a sales contest or reward will provide some extra motivation to achieve higher results. The contest should be achievable while at the same time a number that everyone would need to push to achieve. Report on your progress towards achieving these goals on a regular basis, as it will help you stay focused on the end goal.
5. Change your focus from auto to home insurance or from home to auto insurance. Some agents tend to focus on one product and limit their sales of others. Agents will do this for a number of reasons, one of the most significant being their comfort level. Agents who want to build a sustainable book, should have a portfolio of policyholders with both home and auto policies. Breaking out of your comfort zone will allow you to grow faster and have a more diverse portfolio of clients.
6. Increase lead budget. Auto and home insurance leads work! Insurance leads have been proven to provide the highest ROI compared to other marketing programs. If you are spending your limited resources on direct mail, yellow pages ads, online advertising, and other mass marketing, you should shift these dollars to leads. If you not spending money on leads, now is a good time to start, as you will obtain a positive return on your investment.
7. Contact everyone you quoted during the last year and didn’t sell. Once you purchase a lead and provide a quote to that prospect, it doesn’t cost you anything to contact that person again. To help kickstart your 3rd quarter sales, you should contact all the people you quoted during the past year to see if you can update their quote. Some agents will try to this via email, to save time, however, nothing works better than a phone call.
8. Establish daily, weekly and monthly goals for the remainder of the year. To achieve your end of year revenue and sales objectives, it is important to have a plan. You should establish monthly, weekly and daily goals, and reset those goals at the beginning of every month, if you have not achieved your goal in the previous month. Having a goal will be a regular reminder of what you need to do to finish the year strong.
Agent Ethan Kosmin Generated over $200,000 in premiums during first year in business thanks to Contact Concierge.
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