Insurance Marketing Challenge and Success

Insurance professionals tell us that insurance marketing, acquiring new business, is their #1 problem. But it's silly as each day, thousands of people send checks to large companies such as Franklin Funds, to Vanguard, to Nationwide, Prudential, NY Life, as well as other financial services companies that do not even have a sales force. So there is not any lack of prospective buyers; it's that life insurance agents, annuity sellers, financial advisors, stockbrokers--they mostly run after prospective buyers rather than pull them in, as the big financial services businesses do.

Significant companies use an extremely basic financial marketing strategy. They throw out bait such as an offer for a brochure "How to Rollover Your IRA" by running a full-page ad in USA Today. Over the next forty-eight hours, they likely obtain a couple thousand responses. Now they have the couple thousand people who are truly interested in what they offer. Individual financial sales professionals, on the other hand, search for after folks, folks they have no idea if interested in their products and services. They do everything from cold calling to networking to begging for referrals. But, the individual financial professional can instead use the same very effective insurance marketing methods of these significant organizations.

You don't need a big budget for efficient insurance marketing. You simply want to provide informational reports like the large players do. For example, check out the Sunday newspaper. You will likely see some huge ads providing booklets such as "Three Ways to Have a Stressless Retirement" or 5 Mistakes to Avoid When Moving Your Ira." Fidelity, Merrill Lynch and others get a large number of calls from motivated and interested prospects. Why do you run after potential clients rather than have the identical approach of having prospects call you?

You don't need to have thousands of dollars to advertise within the Sunday newspaper. You can use the web for incredibly low-cost. You'll be able to use Adwords pay-per-click advertising or run text ads on particular Internet sites that target your market. For example, doing a search on "Columbus Ohio senior" uncovered 6 web websites that appeal to older persons in that city. Seems like a great place to run an ad for your pamphlet "Benefits of Retirement Annuities" and have a very low-cost insurance marketing campaign, doesn't it? The rates for these ads ranged from $20 to 50 dollars per month-- very cost-effective. I started by own practice precisely this way with a $52 ad in a senior periodical marketing such a guide. I was then talking to the curious people instead of making use of a shot-gun approach trying to get in touch with anyone that would listen.

The prospect calls for your brochure. You send it. You follow-up in 2 days with a non-threatening phone call inquiring on the benefit of the guide to your prospect. You find out and have the prospective client reveal their interest or concern, what motivated them to obtain the brochure. Should you have sales abilities or talent, you'll be able to convert a significant portion of these inquiries into appointments. By the way, when I invited these people today who ordered the booklet to my seminars, 33% attended. Now you know how to conduct inexpensive insurance marketing and come across responsive prospective customers for a modest outlay.

Hopefully, you are great at probing and to some degree, friendly, and are able to convert a noticeable number of these inquires into appointments and appointments into revenue. Now that's not a hard method to do insurance marketing, is it?