Lead Closing Strategies Blog

If you’re still dependent on field sales to build your book, you’ve probably got a wish list that goes something like this:

I wish I didn’t have to waste so much time driving to appointments.
I wish I wasn’t limited to just my local area.
I wish my agency didn’t grind to a halt when I’m on the road.

The list goes on and on. Good news for insurance agents: You can eliminate appointments entirely; you can increase your market and your sales volume and you can put an end to unproductive time.

How?

By using technology to switch over 100% from field sales to phone and Internet sales.

It’s a move many insurance agents are making to get their time back for selling, marketing and being with their families. And by increasing their market to include multiple states, they are also increasing the number of policies written.

Here’s how they do it:

1. Adopt the necessary technology. You may already have your marketing dollars earmarked for 2006, but if you want to increase your efficiency and save yourself a lot of headache, agency automation tools are worth a look right now.

Most agents start out with tools that automate the repetitive, manual tasks that bog down office work. Their ace in the hole: a quote engine that reduces quoting time to seconds and creates email-ready proposals.

Also important is a lead management system that allows you to automatically import leads and track them. When buying compatible Internet leads, the lead pops up in the management system as soon as the prospect submitted their request for a quote online. Now you don’t have to waste time entering in prospect information into a contact management system and can get your proposal into a prospect’s hands in just a minute.

Adding a website that integrates the quote engine gives you and your prospect 24/7 access to carrier applications, rates and information. Some carriers even have e-applications that a prospect can complete and submit entirely online. Your prospect will be able to get quotes from not just one of your carriers, but all of them, and they only have to submit their information once.

Forget unproductive call backs. When you phone, you can direct your prospect to open your proposal and you can review rates and plans together. Emailing an application is just as easy as passing it over the kitchen table. No appointment necessary.

These tools allow you to communicate directly and quickly with your prospect, and the availability of information eliminates meetings and costly mailings.

2. Choose the carriers and states you want to work. After automating your office operations and increasing your accessibility with a website, you are ready to expand your market. Choose the carriers and states you want to include on your quote engine and get appointed with them. Remember, you can only quote the carriers and states your quoting company is partnered with, so make sure ahead of time they have a selection that works for your agency.

3. Buy Internet leads for your expanded market. Begin buying Internet leads for the extra states you are authorized to quote. It doesn’t matter how far away the leads live; they all have access to rates, applications and information on your website. If they have reservations about working with an agent outside of their state, all you have to do is let them know that you are just a phone call or email away. Prove how accessible you are by purchasing a 1-800 number and display it prominently on your site.

The bottom line: When you’re on the road you can’t work leads as they come in, and you’re not there to answer your customers’ questions.

When you can run quotes, email proposals and send applications all from your desk, you are more available to your prospective and current customers. And you’re free to market to more states and handle them all with equal speed and efficiency.

Do-Not-Call Numbers Going Up

When you’re prospecting keep these latest numbers* in mind:

1. 76% of all adults have registered for the Do-Not-Call list, up from 57% in 2004
2. 61% have received some telemarketing calls since signing up
3. 18% have received no telemarketing calls

*According to a recent survey conducted by Harris Interactive

Who You Can Call. According to the FTC, if you have an existing business relationship with a consumer, you’re permitted to call. The leads you buy from ProspectZone have agreed to receive your phone call by submitting their application for a quote.

Take It Seriously. All it takes is one phone call to land you in hot water: If you are charged with placing a call to someone on the registry, you can be fined up to $11,000 – and that’s possible per violation!

Make sure when you’re working referrals you take the time to get either written permission for a phone call or check them against the registry. You can access the FTC registry for up to five area codes for free.

Remember when people would open any email that popped up in their inboxes?

Today’s spam-weary consumers aren’t as trusting. And you can bet they’re sending a majority of their emails straight to the delete bin. You’ve got to convince them your email is open-worthy, and you’ve got seconds to do it.

And by taking a strategic approach, it’s not as impossible as you think.

5 Secrets For Excellent Open Rates

1. Make sure your agency’s name is in the “from” line. The “from” line is how your recipients identify who has sent them the email. To get the best open rates, your “from” name and address should identify your agency. Example:

Rob Robertson [rrobertson@abcinsurance.com]

If you’re purchasing Internet leads, you don’t already have name-recognition with your prospect, so it’s even more of a challenge to get them to open your emails. But by careful branding, your email appears professional, and gains legitimacy. If you’re following up with an existing customer, branding reduces the chance they will fail to connect the email with you and delete it.

2. Keep the preview pane in mind. Preview panes are becoming increasingly popular for email users. Often these recipients will only see the portion of your email that appears in their preview pane – and they won’t bother to scroll through the rest of your email. That makes it crucial to put your logo and your most important content (your offer or your call to action) at the top of your email. Remember: Don’t overload the top of your email, but design every one with the preview pane in mind.

3. The subject line matters. The subject line, often written as an afterthought, is actually one of the most important components of a successful email. A bad one can be read as spam, while a solid subject line can seriously improve your opens. Try these ideas:

1. Keep it short and sweet. Tests reveal shorter subject lines pull in a larger share of opens. The going recommendation is no more than six words. Long subject lines risk being cut off: stay on the safe side and limit yours to 50 characters max (and that includes spaces.)

2. Add your agency name for added legitimacy. A subject line with your name reinforces the credibility built by your branded “from” line. Example:  “ABC Insurance: Your Updated Proposal”

3. The subject line should reflect the purpose and/or content of the email. Whether you’ve got a new product, updates, or a quote to send, make sure that’s clear from the subject line.

4. Avoid the run-on. Instead of one long sentence, try several sections. Example: “ABC Insurance: Your New Quote (Updated Rates)

5. Don’t lie. Adding a “FW” or “RE” is not only misleading, it violates the CAN-SPAM Act.

4. Skip the unnecessary graphics. You might have a favorite graphic that you like to dress up your emails with, but if it doesn’t serve to direct action or inform your recipients, leave it out. A good use of a picture is your own head shot above your agency’s contact information. Your face builds trust and credibility, so it is appropriate for your email.

5. Smart logo placement. If you are adding your logo to the email, make sure it’s right where your recipient will look first: the top left corner. This again reinforces the branding work you’ve done in the subject and from lines.

Whether you’re customizing your email autoresponders or creating follow up emails and new campaigns from scratch, you’ll enjoy higher open rates by following these practices.

Every agent has their own formula for working leads – and not all of them make the grade. Take our 3-minute challenge and find out if yours needs a little love.

3-Minute Challenge

1. How do you handle the first phone call?

I run through a list of questions to further qualify them Ok.

I read off plan rates and details from my proposal. Better.

I walk them through my email proposal so they can see how different plans and rates compare side-by-side. Best.

To get the most productive phone calls on the first try, you need to get the most information from and to your prospect.

That means you have to have all the necessary information ready to take the prospect as far as they want to go on that first call. There’s a right way and wrong way to do that. Rattling off rates and plan details over the phone either confuses prospects or starts their minds wandering. The easiest way to present your information is to use a quote engine to instantly create a proposal for them to view online, complete with carrier brochures and applications.

Your goal: Have your proposal handy, and make your presentation as engaging as possible.

2. How easy do you make it for prospects to take the next step?

I tell them to call me if they have any questions. Ok.

…And I ask if I can mail them plan information. Better.

I tell them they can apply for a plan right now with the online application I’ve sent them…or they can take their time reading carrier brochures and apply from my website later. Best.

Getting the lead on the phone and actually discussing insurance is the first step to closing them…but what do you do next? Do you leave them hanging or do you have a system in place to move them smoothly through to the next step?

Your goal: When they hang up, your prospect should know exactly how to take action.

3. What actions do you take after the first phone call?

If they were noncommittal I’ll call them back in a few days – if I have time. Ok.

I mail them the carrier information and call them in a few days to see if they’ve got it – if I have time. Better.

They are automatically subscribed to my email campaign that sends them a series of emails with new health insurance quotes and calls to action. Best.

If your lead isn’t chomping at the bit to apply, the timing and style of your next follow-up becomes crucial.

You don’t want to risk calling your lead too soon or you’ll seem desperate, but you don’t want to sit around waiting for a packet of carrier information to make it to their mailboxes either.

But the worst thing you can do? Not following up the lead at all because you’re too busy.

The solution to both these problems is a simple email autoresponder program. You’ll always follow up no matter how busy you are; the personalized emails are sent out automatically. Plus, your email includes an updated health insurance quote to re-engage the prospect’s interest.

Your goal: Following up with every lead.

4. What’s your lead attitude?

The more information I have about a lead the more
qualified they are. Nope.

I should be able to count on a certain number of leads converting to sales. Not really.

A lead is someone who is interested in insurance. You got it.

When it comes to purchased leads you should not expect anything more than a conversation (at best) with someone who was at the most interested enough in insurance to request information. Your role is to provide them that information, not sound like you’re squeezing a sale out of them.

You’ll get much better results by treating every lead as an opportunity to educate your prospect, not as a given sales opportunity.

Your goal: Having the right attitude towards purchased leads saves you frustration and helps you direct your sales pitch in the right direction.