In our last blog, we outlined insurance sales strategies to help you dominate at every step of the sales cycle. In this one, we’re going to focus more specifically on the first step: cold calling. Many find this the toughest part of the sales cycle, because it can be difficult to get a prospect’s attention via a cold call or mass mailing. We’ll share insurance sales strategies in this blog for effective cold calling of all types in this blog.
Make cold calling a purposeful activity
Because many agents dislike or even dread making cold calls, it can be easy to approach them with a lackluster attitude. However, doing so perpetuates a cycle of ineffective cold calling, making the task even less fun when it doesn’t produce results. Instead, approach cold calling with purpose, using these tips:
- Dedicate a certain amount of time per day or week to making cold calls, and set a goal for how many calls you want to make. During this time, don’t check email or your cell phone, and block out any other distractions.
- Practice your cold calling skills. This may seem even more tedious than making the calls themselves, but practicing with a trusted colleague or mentor will provide you with useful feedback to help you improve this skill.
- Plan for your cold calls. Especially for larger prospects, do some research first, have at least a loose script prepared, and know what angle you will take for the prospect. Perhaps you will focus on ACA compliance, or increasing rates. Don’t just make calls on the fly. Prepare for each one.
- Focus on your attitude. Making dozens of cold calls (and dealing with dozens of hang-ups and “nos”) can be a slog. Make a point to keep your voice enthusiastic, keep a smile on your face, sit up straight or stand, and generally focus on being positive. If your energy starts to wane, take a break and come back when you’re reinvigorated.
Cold calling goes beyond the phone
Many think of cold calling as sitting at a desk and calling on a list of names, or sending out a mass mailing to a list of prospects. While that is the traditional form of cold calling, there are other ways that you can build relationships and prospect.
- Get involved in your community: Joining community organizations or volunteering at local events can be a great way to meet people in your community and build relationships. Often, you will meet other business owners who will have a need for your services.
- Get involved through your kids: Volunteer at your children’s school or day care, and you’ll likely meet many other parents. Chances are, some of them (or their spouse) own a business that needs insurance.
The typical mass mailing is pretty similar: a packet, brochure or letter promoting the agency. Your prospects probably get dozens of these mailers every month from vendors, including many competing insurance agents. How do you make yours stand out?
In addition to strategies we’ve talked about before, such as segmenting your market and targeting the incumbent, get creative with your mailings. For instance, send a package that speaks to your local market, whether it be a popular sports team, a local event, or a timely occasion. These mailings will be more expensive to put together and send, so only send to your top prospects. But the cost will be worth it when you grab someone’s attention instead of getting your mailing dumped right into the recycling bin.
If you found this beneficial and are interested in more insurance sales strategies, be sure to check out our newest infographic, Winning Sales Strategies Throughout the Sales Cycle.