(Related: 4 Secret Steps to Making More New Insurance Sales)
There are a lot of huge mistakes that agents make today. And one of the worst mistakes that you can make is to rely on someone else to help you to find your best leads for life Insurance.
Today, most advisors will use what they believe is the easiest way for them to find the best leads for life insurance.
They will either buy Internet leads; buy a lead program; or buy a list and use a phone dialer! Or they will take a cut in their commissions to get leads from their IMO or agency.
Why Most Lead Programs Are A Problem
1. Those leads programs are very, very expensive.
Whether you pay for your leads; take a cut in commissions to get leads; use a phone dialer, or use some other a lead program; the average lead will cost you about $20. So, if you are lucky enough, or good enough to set sales appointments with one-third of those sales leads, then you will spend about $60 for a sales appointment? If you need and want to have 10 sales appointments per week, then it will cost you $600 per week. Which is over $30,000 per year.
2. Many of those leads are generated through use of deceptive marketing tactics.
Example: People are given a free gift, as an incentive for them to fill out an online form. Accordingly, the people who fill out a form do not realize that their information will be used as a sales lead for an insurance agent or telemarketer to get them to buy annuities and insurance. So, when you contact them, they are unhappy. Because they did not request anything from you! As a result, there is an immediate lack of trust by the prospect. Which makes it hard to set an appointment, let alone close a sale.
3. Most of those leads are given to multiple agents.
Most lead companies will sell their leads from five to ten times (as aged leads). So, you are in direct competition with all the other insurance agents, P&C agencies, banks, attorneys, accountants, tax preparers, and others that will buy or use those same leads?
4. These lead generation tactics do nothing to enhance your personal credibility in your local community.
Buying leads doesn’t help you to attract people to you. So, most agents who start out buying leads are forced to rely on those lead sources for their entire careers — because they never learned how to market their services.
There Is A Much Better Way…
What if instead of you spending $600 or more per week for sales leads, there was an easier and much less expensive way for you to attract the best leads for life insurance to you! So that over time they will contact you and ask you for your help?
This is exactly what most of the ‘top agents’ in our industry are doing. And, you can do it too… it’s called attraction marketing.
The first thing you will need to do is to stop promoting your company and products, because that has the exact opposite effect of being attractive to your best leads for life insurance. It’s said that only 2% of the population likes to be sold. So why would you make yourself unattractive and your life so difficult by pushing your products?