What is your most valuable resource? If you said products and services, you are incorrect.
The most valuable resource that you have as an insurance agent is your time.
Time can be an amorphous thing, here now, gone in a blink of an eye. The thing about your time that you need to realize is that once you have used it, there is no way of getting it back. So, if you want to make $75,000 a year that means your time is worth $40 an hour. Effective, efficient time management is crucial to make your agency grow.
Use your time wisely. Get completely organized with everything you need to speak to customers right at your fingertips. Do not pile it in a heap on your desk and expect to find it right away if you are asking a question. Murphy’s Law of never being able to find what you need when you need it is generally operative when you are on the phone and trying to impress a potential customer.
If you have what you need right at hand, your credibility and prompt responses to questions is noticed. It’s all a part of offering good customer service. Know your products. Know your strengths and weakness. Know how to manage your valuable time effectively.
Part of managing time involves how and when you work the leads you bought. It also depends on the kind of leads you purchased. There are different kinds of leads ranging in cost from cheap to more expensive. While cheap leads may sound good and be easy on your marketing budget, in truth, you get what you pay for, cheap leads.
Cheap leads are usually shared with multiple agents and if you do not jump on them the minute they arrive in your mailbox, you may be on the receiving end of an irate potential customer who has already received six or more calls from other insurance agents. You’ve heard that old axiom: “To make money, you need to spend money.” It is true. Spend good dollars on pre-screened, pre-vetted exclusive to you only leads and you come out the winner.
Spend less on cheap leads, and you’ll find out how tough the competition is out there when jockeying for with other agents. Figure out the time spent on the phone chasing leads that do not convert and you’ll see clearly what is really hurting your income. It’s your time. It’s your income. Manage both well.