A smart agent should be willing to listen to how others market insurance, but be aware that what works for others may not work for everyone. Listening to one’s own intuition is a winning strategy for any agency.
A savvy insurance agent knows that cold calling is dead, long live telemarketing leads? Right? While that is certainly an accurate observation, it is also one to be closely examined. Buying leads is a good idea. Buying shared leads, not so much.
Shared leads are what the term implies – leads shared with up to seven or more other agents. A buyer of such leads has to wonder who is going to get the customer on the line first and make a sale, and who is going to make money on shared leads? It’s usually not the frustrated agent who finds hostile people on the end of the phone, because those six other agents have likely already called them.
But many mentors have said shared leads were less expensive and if worked correctly could pay off. Indeed, they are less expensive, and if worked correctly, they could pay off. The reality, however, is that other agents often work shared leads before a new buyer ever receives them. This amounts to so many wasted marketing dollars on leads that have already been chewed up. Many agents do not find that to be a smart way to make money, and they are correct.
A marketing plan needs to have a viable way to make money. Working shared leads is not a viable way to make money. Working exclusive leads is. Exclusive really does mean exclusive to one buyer. It is important to ask the relevant lead generation companywhat their definition of exclusive leads happens to be. In order to make money, it needs to be defined as exclusive to one person, and not exclusive to all those on a shared lead list.
Much marketing hype speaks of how customers should come to an agent because they want something and set out to find their great products. It is advisable to go for guaranteed gold and get leads from a reputable lead generation company. Those leads do pay off, if well worked.
Cold calling is a fair preference, if worked. However, it generally does not suit a busy insurance agent who is trying to grow business and customer base. Listening to personal instincts and intuitions about what works for one’s own situation yields better outcomes. Just because Johnny Smith down the street at ABD Agencies likes shared leads and they seem to work for him, does not mean they will work for anyone else.
An approach to marketing needs to be as unique as the agent. Marketing is a reflection of those who produce it. Owning it and making it work for customers is a crucial aspect of business.