When you look at the number one reason why 92% of insurance agents fail, the root cause usually ends up being prospecting.
In Springfield, Missouri, where Secure Agent Mentor and Secure Agent Leads is based, a local agent asked to go to lunch with Cody Askins, Owner of SAM and SAL.
He said he was contemplating leaving his insurance agency because he isn’t making money.
Over seven weeks he made $152 dollars.
Guess what Cody found out? He was sitting with very few people each week.
This isn’t a rare phenomenon. We get asked about prospecting more than anything else.
On a poll posted in an insurance forum, an agent asked what the hardest thing about selling insurance is.
80% of voters selected “Finding Enough People.”
According to a survey done by Marc Wayshak, a Sales Strategist, nearly 67% of salespeople reached out to 250 or fewer leads in 2018.
That is woefully low.
How can you improve prospecting?
Buying leads is easy, it’s quick, and takes no effort on your part to acquire them.
However, if you don’t have the money to do this, you can get creative with prospecting to keep cost low or free.
Cody did “Call Nights” in his first year as an agent because he didn’t even know about buying leads.
During the call nights, Cody would:
- Give them scripts and data lists (scrubbed against DNC list)
- Get them a phone and place to sit
- Called with them
- Had pizza nights
- Had gift card giveaways
He would pay $10 for the first two appointments set and $20 for each thereafter.
Then, for whoever sold the most that day, he’d give out another $20.
Through “Call Nights” he would generate 10-15 appointments per week!
Also, Cody would go cold door knocking after his college classes on Fridays when he first got started
On one evening he:
- Knocked on 125 doors
- Was invited into 20 homes
- Made six sales
Point is, you need to get out there and put in the work 92% of people won’t to become a part of the 8% of insurance agents who create long-term wealth for themselves.
Have a visual component
This will allow you to find your strengths and weaknesses.
It will also show you which days you are crushing it and which days you falling short.
Then you can do some investigative work and find out why.
You can write down your activity (calls/door knocks/etc.), how many appointments set and sit with, and how much premium you make.
Eventually, you’ll find out what works for you so you can focus on the correct efforts.
If you can afford to invest in leads, it’s fast, efficient, and you know for a fact they’re interested in your product. Secure Agent Leads is trusted by over 10,000 agents.