Lead Closing Strategies Blog

When the state you’re licensed in isn’t Guaranteed Issue, you know who can and can’t be underwritten for legitimate reasons.

But that doesn’t mean you should scrap a lead that doesn’t meet your companies’ criteria without calling them first.

Here are 2 good reasons to check in with your lead before returning it:

1. They may have entered their information incorrectly.

A lead comes in that lists the age as 73, but also says they’re not on any medications and have no pre-existing conditions.

There are two reasons why this lead demands a quick phone call before you dismiss it as uninsurable. First, how many 70-year olds do you know that can claim to be medication-free with no existing conditions?

Second, the older senior citizens are, the less likely they are to have ever gone online. Seniors 75 and older only make up 1.3 – 1.6% of all internet users.

And just 4% of all seniors 65 and up have looked up health insurance information online (Kaiser Family Foundation, 2005).

Call up your lead and verify their age. Mistakes can happen! You don’t want to junk a lead that’s actually a healthy 37-year old who mistyped their date of birth. Statistically, there aren’t a lot of people over 70 online…and even less are requesting health insurance quotes.

The same goes for height and weight. A lead may appear to have an un-ratable build, but they could easily have ticked off the wrong number by mistake.

2. They may be HIPAA eligible.

In some cases a lead is eligible for coverage, even if their medical conditions or build would normally make them uninsurable.

You can quickly determine if someone is HIPAA eligible and has guaranteed access to health insurance under the law. Find out if they meet the following conditions:

* The person has had at least 18 months of continuous coverage without any breaks longer than 63 days
* They got their most recent coverage through a group, governmental or church plan
* Their most recent health coverage wasn’t cancelled because they failed to pay their premium, or due to fraud
* They were offered and accepted COBRA or state continuation coverage and the coverage has been exhausted

An applicant may not fall under HIPAA if they:

* Can get coverage under another group plan
* Qualify for Medicare Part A or B
* They had a break in coverage greater than 63 days

Important: HIPAA eligibility for individual plans varies from state to state, so check with yours.

Sometimes leads check off that they’re currently insured. Remember, they could actually have COBRA coverage that’s about to expire and they’re looking to replace it.

If you’re too quick to toss leads in the trash you could be missing out on sales.  You’ll never know if you don’t call.

About the Author: Scott Sullivan is Vice President of Broker Sales at Norvax, where he uses his 4 years of industry experience and impressive knowledge of how insurance agents sell to forge strong relationships with successful agencies and insurance carriers nationwide. His team works with agents across the country and educates them on how to implement technology and lead generation into their daily routines. He welcomes feedback at ssullivan@norvax.com

If you want to be people’s go-to agent, you need to stay visible. When people think “insurance,” you want their next thought to be “you.”

There are many ways to get your name into your prospects’ minds. But one of the most taken-for-granted strategies is also one of the most effective: promotional products.

An Effective Way To Make Your Mark

You’ve probably got them all over your office: pens, mugs, hats, maybe a calendar or two. They’ve got business names, phone numbers, and web addresses printed on them. Every time you use one of these branded products, you get a little more familiar with the name on it.

Promotional products are useful marketing tools because people hold on to them. Your typical ad gets seen once or twice. But a product can get used again and again. The more someone uses the product, the better the chances of them becoming a customer.

How effective are promotional products? A recent MarketingSherpa report found that:

* 73% of the people given a promotional product used it once a week
* 45% used it once a day
* 52% did business with the advertiser after getting the product

It’s hard to argue with numbers like those. Promotional products don’t just increase awareness of your business; they get more customers in the door.

What’s The Best Thing To Give People? Something Useful

You can get your information printed on almost any product you can think of, from rubber ducks to yo-yos. But that doesn’t mean you should.

Cute, funny, or quirky products might make a strong initial impression with your prospect. But then what? More than likely, it ends up gathering dust on a shelf or in the trash.

On one hand, you want the product to be memorable and make a strong impression. On the other hand, you want the product to be useful and make repeat impressions. Striking the balance is key to a successful promotion.

Promotional products are effective, but they’re also expensive. To get the most mileage out of your promotion, follow these rules:

* Give people something useful. Things like pens, pads of paper, and coffee mugs are almost guaranteed to be used repeatedly.
* Choose products that give a good impression of your business. Items that are obviously cheap, poor quality, or in bad taste will work against you. When the choice is between a shoddy promotional product or none, your money is almost always better invested somewhere else.
* Make you sales message clear and concise. Your promo should tell people who you are, how to reach you, and how you can help them. Printing your website is a great invitation for people to learn more about you.

Staying in your prospects’ minds keeps your business growing. Using promotional products is a great way to keep people thinking of you.

Resources:

http://www.branders.com/
Offers printing services for a variety of products. Features an easy-to-use preview system that lets you see products with your logo before ordering.

http://www.epromos.com/
ePromos has a great selection of promotional products.

http://www.garrettspecialties.com/
Another site with a wide selection.

http://www.ppa.org/
The Promotional Products Association International is a great information resource.

3 Options That Beat The Socks Off Hanging Up Empty Handed

“I really don’t have the time right now!”

How often have your prospects blurted this out? You try to quote a lead, but the conversation ends abruptly, and you’re left with nothing but a dial-tone.

You’ve invested the time – whether it’s working up a quick proposal or following up by phone – but time is the one thing many prospects don’t have.

So how come some agents never hang up empty handed?

1. One-click quoting.

The trick to getting your proposal into your client’s hands is to keep it simple. That means these words can NEVER come out of your mouth:

“Ok, looks like I have all the information I need. I’ll call you back before the end of the day with a proposal.”

Unless they’re really bored and lonely, few of your prospects want to have a bunch of unproductive conversations with you. Your proposal better be in their hands before you hang up the first time.

Solution: When you buy leads from companies like ProspectZone that integrate with online quoting technologies, you can eliminate the ‘I need to get your information’ call. Your lead information is automatically stored, so all you have to do to pull up a multi-carrier quote is point and click.

You can have your quote ready before you dial, or you can create a full proposal while you’re talking to your lead. Email it out and you can either have the prospect look over it with you on the spot or they can hang onto it for later.

Now try replying to “I don’t have enough time” with:

“If you have just one minute to spare right now, I’ll email you a proposal with 3 plans I think are a good fit. Look them over whenever you have a minute.”

2. Automatic follow up.

Some busy prospects only have time to tell you they “don’t have the time” before they hang up. You don’t get to quote them and you have to move on to the next lead.

Solution: When you use an autoresponder program like LeadMiner, each lead is sent an email and your health insurance quote the instant they submit their request online.

Now it doesn’t matter if a prospect is too busy to talk to you. With autoresponders they’ll have your quote in front of them next time they check their email.

3. Put it all online.

Often a sale will stall when it’s up to the prospect to fill out the application. Mailing means it takes days between your last conversation and when your lead gets the app.

Solution: Don’t let the paperwork tie them up. When your prospect has access to everything online, applying is as easy as possible.

A quote engine lets you send applications with your proposal that can be downloaded and printed. Some carriers even have e-applications that can be completed and submitted entirely online.

Now you can offer to send the app and walk your busy prospect through the entire process on the same phone call. They appreciate the convenience. And you don’t have to sit around waiting for them to fill it out and send it in.

Don’t Give Prospects The Opportunity To Put You Off

Don’t let a prospect’s busy schedule determine whether you make the sale or not. If you deliver proposals quickly and make applying effortless, you’ll be a more successful agent.

When you buy shared leads, your message HAS to be more compelling than the other agents’. Think about the typical message you leave. When prospects play it back, are you making a case so convincing that they won’t even think about responding to anyone but you?

What Makes A Message Ordinary And Absolutely Forgettable

Your prospect hits “Play” on her answering machine:

“Hi, this is a message for Nancy Scott. I’m Rob Robertson, an agent with ABC Insurance. I’ve been selling insurance in Handsome Falls for 14 years. I represent six national carriers, including Major Insurance Company, for which I am a Top Ranked Producer in the state. I understand you’re interested in purchasing a policy and I’d love to work with you to find the most affordable one to fit your needs. I do need you to provide me with a little more information so I can start looking up plans, so give me a call back when you have the time. You can reach me at 555-1234. Again, that’s Rob Robertson and I’m with ABC Insurance. Have a great day.”

Now why doesn’t she call you over other agents? Because it’s a bad message. Didn’t you notice? It’s:

* Boring. You drop your credentials right away to build trust. But that makes a BORING message. Instead of getting your lead’s attention, you’ve made her tune out.

* Long. A message this wordy demands at least 20 seconds of attention. And if it starts out dull, your lead will only give you about 8… or less.

* Deleted. What reason does the prospect have to save your message, let alone call you back? Her only “incentive” is the vague promise that you can find the “affordable plan that fits her needs.” And that’s what every other agent is saying.

Even worse, you told her she’s going to have to “provide” information and “work” with you. It sounds like talking to you is going to take some time…the one thing she doesn’t have! That’s why she went on the internet to research insurance in the first place …for convenience.

What’s more, you close by suggesting she call you back…when she has time. You’re inviting her to put your message out of mind!

How To Create A Stand Out Message That Is Absolutely Persuasive

An effective message needs to be:

* Interesting. Which messages do you listen to start to finish? Probably the one from a person ready to buy a family policy. You even take notes, because this message is highly relevant and interesting to you. Your message has to be the same for your prospect.

* To the point. Get their interest and then get right to the point. Trim out all the words that don’t entice your lead to take action. The best messages are more like teasers…they promise the listener they’ll solve a problem or gain something valuable if they return the call.

* Memorable AND persuasive. When you share leads, your message is NOT the only one on your prospect’s machine. Give your prospect a real incentive to call you, not fluff. Don’t use any words that make talking to you sound like work. And don’t wimp out at the end: always tell the lead to call you back.

Take all that and roll it into one compelling message:

“Hi Nancy, Rob Robertson, ABC Insurance here. I understand you need health insurance coverage. I just helped a family of four like yours find a plan that fell $89 a month below what they had budgeted for. I’m seeing at least 3 plans that look like they’ll be a perfect fit for you. Let’s go over them real quick; call me at 555-1234, and again it’s Rob Robertson.”

Tip: If you’re using an autoresponder program to automatically email quotes to your leads you can add this compelling line to your message:

“I just shot you an email with some plans that look like they’ll be a perfect fit. Call me and we’ll talk about them real quick: 555-1234…”

A PERSUASIVE message isn’t weak and is never vague; it gives your prospect reasons to pick up the phone and choose you.

About the Author: As Director of Marketing & Creative at Norvax, Jeremiah Desmarais works to build results-driven marketing strategies that create more sales. His team executes the B2B and B2C marketing initiatives that touch Norvax’ client base and carrier relationships on a daily basis. He is author of several white papers, and has been a contributor to the Agent Sales Journal, Health Insurance Underwriter as well as a guest speaker at various carrier events and workshops. He welcomes feedback at jdesmarais@norvax.com