Let’s be honest! Most life insurance agents fail, within the first few years. Making good money selling life insurance can be a real struggle! Especially, if you are new and just starting out!
To attract clients and make money selling life insurance, you must focus on the business part of insurance sales. It is no longer enough to “have great products” or “a great idea!” You must be business-wise and learn HOW to increase your PROFITS.
With new insurance agents starting every day, increasing the competition in your area, it’s essential to think outside the box and differentiate yourself from your competition.
If you are struggling to make money selling life insurance, then you will most likely recognize yourself in one or more of the following:
- Are you WAITING for people to contact you? (you post product ads on Facebook or in the newspaper and wait for the phone to ring – nothing happens).
- You pay to get new followers on Facebook in the hope of getting new potential clients to find you. (Your likes increase, but no one calls you).
- You offer low cost mortgage and final expense products. (nothing happens or perhaps you get a few annoying clients?)
- You set up a blog and a website to showcase your products. (but it doesn’t get the phone to ring either…)
- You offer a free report on your web site or Facebook. A few people call you for your free report, but no one calls you or agrees to an appointment.
- You heard that newsletters are the key to increasing your income, so you set it up. (but hardly any one calls you.)
- You buy mortgage and/or final expense leads, you struggle to set a few appointments and close a few small sales.
- You feel like giving up, and you begin to think that you are not cut out for selling life insurance, so you get even less active and become even less known to potential clients.
It’s time to roll up your business sleeves and do the work.
If you recognize yourself in the above – do NOT feel like a failure! Going through this is NORMAL. I’ve been there, and I have coached plenty of life insurance agents who have been there. The fact is, if you have never run a business before in your life, how on earth would you know how to do it effectively?
Instead of beating yourself up, it’s time to roll up your sleeves and get to work. Now all the fun begins – evolving your creative business mind. It’s time to learn new strategies and gain new powerful knowledge!
Are you ready?
With over 22 years of experience as an insurance agent and business owner and over 22 years of insurance marketing and sales training, with some of the best in the world, I will give you my top 4 tips to making money selling life insurance.
#1 Stop chasing people who don’t know you!!!
I know this might sound scary – especially if you are an introverted person. Nevertheless, if you are not willing to talk to the people you know, you will not succeed! Those who do not ask for the sale, with the people they know, are the ones that close their business soon after they get started.
But don’t worry, you do not have to be a sleazy sales person! There’s no need for a sales pitch! Instead, have a conversation with the people you know, about the financial problems they are facing, and what will happen if they keep doing what they are currently doing. Talk about the benefits they will get from working with you. Ask them how it will make them FEEL. Help them to understand ALL the benefits of your service. Explain the process of working with you and show your passion for what you do. Nothing sells better than passion and excitement!
TIP: Shift your thinking from believing that you are an annoying salesperson, to thinking that you are a helper. Think of ways you can HELP and serve your clients and make their life better. From that state of mind, it is easier to sell from the heart.
# 2 Do one thing every day to promote yourself!
That’s right! Do ONE thing every day – no less, no more. Make it your number one priority – the first thing you do every morning. Use different platforms for this – online and in your local area.
Do a brainstorm exercise and write down at least 50 ideas (small and big) on ways to promote yourself in your community! Use this list every day!
Design a flyer, booklet, or brochure that tells them about how you are helping people solve their financial concerns and problems. NOT about your products! Have it in your briefcase and hand it out to everyone you meet when you are out and about.
TIP: People prefer to work with people they know or at least have heard of. The more people know about you and how you can help them, the easier it will be to set an appointment and make a sale.
#3 Collaborate with like-minded Businesses!
Create your own active and supportive network with other business owners in your area and help promote each other.
Make a list of local shops, hairdressers, spas, nail salons, yoga studios, coffee shops, tax preparers, and independent P&C agencies – think of places where your dream client will typically show up.
TIP: When networking ask yourself what you can do for your network, not what they can do for you. Be a giver, a supporter and you will benefit from this in the end. Networking is a long-term investment. When trust has been established, your revenue will increase.
#4 Learn from the best
Okay, I’m a business geek. I love to investigate and experiment and find new effective ways to make my business flourish. During my time as a insurance agent and business owner, I’ve been lucky to learn from some of the best insurance sales people and experts in the world. It is crucial to have a mentor or a support system to help you succeed when you work on your own.
I hope you enjoyed this article and feel inspired to go out there and actively do something to meet new amazing clients.
Yours In Success,