What Do The Top Life Producers Know That You Don’t…
Finding The Best Life Insurance Sales Leads Isn’t Hard!
Are you looking for more and better, qualified life insurance sales leads?
Have you tried purchasing Internet leads, or telemarketing leads?
Were you disappointed with the overall results?
How many appointments were you able to set, out of every 10 sales leads you bought?
How many of those appointments actually turned into a sale?
How many of those sales actually resulted in an issued life insurance policy?
Even the most successful agents who buy life insurance leads are only converting around 3% to 10% of their leads into a sale. Even at only $10.00 per lead, it means that each sale is roughly costing you $100 to $333. If you buy 100 leads at $10 each that’s a $1,000. If you only make 3 sales, in means it cost you $333 per sale. Buying leads is one of the most expensive ways to grow your business, and should only be used during slow times as a supplement to your other lead generation methods. They should never be used as a primary source of life insurance leads.
Let’s take a step back and look at what you are actually doing when you are buying life insurance leads. You are going to a third party that is contacting people who have no idea who you are. That third party is now telling you, that person is interested in your services. Unfortunately, when you call them, they are very apprehensive about setting an appointment with a total stranger. You are at a great disadvantage, because you have no credibility with that prospect. The good news is there are much better, easier and more cost effective ways to get the life insurance leads you need and want.
Who Are YOUR Best Life Insurance Prospects?
Before we get into ‘Finding The Best Life Insurance Sales Leads‘ it is crucial to determine who is a good, qualified prospect for your products and services. The main concern is making sure you are spending your time communicating with the people who are the ‘Ideal Prospects’ for whatever you are offering. There is nothing more frustrating than making a 100 phone calls and not setting a single appointment. This can, and does happen, when agents think they can call just anyone, because they think everyone needs to be concerned about whatever they are offering.
Just because someone should to be concerned about something, doesn’t mean they are. It doesn’t mean they will see you or buy whatever you’re offering.
Don’t they, at a minimum, need to have the ability to pay - and be able to be seen on a favorable basis?
So the questions are:
Who are the Ideal Prospects to be contacting for whatever you are offering?
Who do you have the best chance of setting an appointment with?
Who has the need, the ability to pay and can be seen on a favorable basis?
As you read the following, remember I’m not saying that some of the other people aren’t good prospects. I’m saying you want to be contacting the people who you have the best chance of setting an appointment with and making a sale.
Let’s use Tax-Free Retirement, using life insurance as an example.
Is your best prospect someone who owns a home? Probably, Yes. Doesn’t it tell us they have been able to save in the past, and probably have the money to put away for retirement, if they can see a need to do it now? Plus, doesn’t it tell us they are willing to look long-term? Our ideal prospects are people who own a home.
Is someone who owns a $300,000 or larger home our best prospects? Probably No. Aren’t these the people who are have family incomes of over $125,000 and are inundated with calls from financial planners, advisors etc? Aren’t these people going to be harder to see? Our ideal prospects are probably people who have homes worth $300,000 or less, and income of less than $125,000.
Is there a minimum income requirement? – A minimum family income of around $50,000.
What else makes someone your best prospect for a Tax-Free Retirement, involving life insurance? If we are going to use life insurance, then don’t they need to have someone to protect, a family that is dependent on their income? Our ideal prospects are people who are married and have children living at home.
Cash value life insurance builds best when you have 15 years or longer to contribute. So, your ideal prospects are people who are under age 50.
Finally, your best prospects are people that already know you, or at least have heard of you!
Finding YOUR Best Life Insurance Sales Leads
Now that we have identified the ideal prospects to contact for retirement planning, with life insurance, where do we find them?
The best prospects are always going to be the people you already know, or at the very least have heard of you. They could be your family, friends, neighbors, members of your church, or members of your associations. They could be parents of the children on your child’s baseball team, or in your son’s Boy Scout Troop. Plus, the people you do business with, your barber, mechanic, doctor, lawyer, etc..
The next best prospects, are the people who live in your neighborhood. You can identify these local neighborhoods by contacting your local real-estate broker, or by just driving around. All you need to do is to find the streets they live on and then go to your local library or the Internet.
In the library or on the Internet, look for ‘Criss Cross’ (Or Reverse) directories. Three common ones are the Hill Donnelly, Coles and Polk Directories. They have every street listed, with everyone on the street, and their telephone numbers. Plus, they provide lots of other valuable information.
Make a list of everyone you know and your neighbors with their names, addresses and telephone numbers. You now have a LIST of your best prospects for a tax-free retirement plan, involving life insurance…
Setting An Appointment With YOUR Life Insurance Sales Leads
Unfortunately, the old standby of cold calling consumers isn’t a good, viable option any more, because consumers are fed up with getting calls from salespeople who won’t take no for an answer. Many of these people have registered on the ‘Do Not Call Directory‘, and just about everyone today screens their calls.
Since you really can’t cold call consumers anymore, one way to get this list of people to call you is to send out a sequence of letters, but they better be really good insurance prospecting letters with a powerful ‘grabber’, a great headline and a call to action.
You’ll want to use a powerful grabber on your insurance marketing letters, like money… Maybe a $1 bill, a $2 bill, a million dollar bill or even foreign currency. Or maybe, wooden nickels, band aids, watches, magnifying glasses, shredded money, phony diamonds, etc. etc.
I know it may sound ‘gimmicky’, but test results from millions of mailing pieces over the last half century prove that, without a doubt, grabbers, with well written headlines and a call to action significantly increase responses by leaps and bounds.
In your letter, you’ll want to offer a free financial audit, or your free report. And, then follow-up with your monthly newsletter. The idea is to get them to call you, so you legitimately can follow-up with a phone call and set an appointment. Or, you can invite them to your free education workshop.
By sending out well crafted sales letters and following up with your monthly newsletters, to the right people, in your local area, you are now building your image, brand and credibility. The more you keep your name and services in front of these people, the easier it’s going to be to get them to respond to your offers. This doesn’t happen if you are buying leads, or using a telemarketing service from a third party.
This is just the first step to establishing yourself as the trusted advisor in your local community, and becoming the advisor people want to see.
Marketing and Sales Coach
‘The 9 Out Of 10 Guys’
P.S. Here is what just a few of the experienced agents, advisors and planners we work with have said about our systems, training and personal coaching…
“Dear Lew and Jeremy, I want you to know that you are right on track with your advice and training methods. No one else even comes close. The techniques you’ve taught, when applied in the field, have produced great results for me in my business.” Harmon Pye III, RFC (23 years)
“Many ‘experts’ claim to have the answers on how to grow your insurance business… It is nice to actually meet someone who really has the tools and strategies needed to succeed. Lew Nason is the person who truly delivers.” Kevin Davis, (18 years)
“You guys are the most honest and truthful people I have met. From now on I will discard all the other so-called “systems” out there and just follow your system and ingrain it into me so that it becomes a part of who I am and what I represent…”helping people to live debt free and truly wealthy”. C.C. Koo, (7 years)
“Lew and Jeremy Nason are very committed to helping agents succeed by providing real ideas and methods that are proven to work. You will walk away with more than you expected!”
Carol P., (1 year)