By now we all should know how important life insurance is – after all, it’s Life Insurance Awareness Month! According to a recent LIMRA study, only 63% of Americans have life insurance, but a whopping 97% say that life insurance is important to them. This means that almost 40% of consumers don’t have life insurance, but recognize that they should. This is great news… but now what? How do you approach these consumers who are just chomping at the bit to buy life insurance? I’ve got you covered – read on for the Top 11 Ways to Reach New Clients and Build Your Life Insurance Sales!
11.) Sell yourself, not just a product.
Sales, by definition, is a “people” field. By first demonstrating your experience, your expertise, and your insight (without leading with a product pitch) you can set the stage properly and not be seen as “just another salesperson pitching a product”. Sell yourself, and the products can follow.
10.) Put yourself in your client’s shoes.
Many people may find it easier to identify with (and eventually buy from) someone they can empathize with, or someone who has been in the same situations and understands what they are currently facing. Empathy can build trust, which is ultimately what you are striving to do – once a client realizes they can trust you, the hard part is behind you; the rest is just details.
9.) Embrace technology and social media.
In today’s digital society, keeping up with technology is an excellent way to maintain your relevance with your clients. Although it’s an investment of both time and money, studies are starting to show it’s well worth it. And don’t forget social media; it’s quickly becoming one of the primary ways producers keep in touch with their clients AND generate new leads. Add and follow Zenith Marketing Group on social media as well!
8.) Reach out to your clients as often as possible.
As the old saying goes, “out of sight, out of mind”- it definitely pays to remain as visible to your clients as possible. This can range from a personal touch (more on this below) or for weightier reasons such as conducting policy assessments and reviews. When a question arises, or a crisis occurs, you want there to be no question as to who your clients should call for information!
7.) Network, network, network!
Being active with local fundraising, professional associations and non-profit boards, and even on social media can be an excellent way to develop both new professional connections AND potential client leads. Many local professional groups hold regular networking events as well. Don’t hesitate to take advantage of these!
6.) Cultivate a specialty or niche.
Wait a second – aren’t producers supposed to be well-versed in many different things? Although no one is encouraging you to be one-dimensional, it can certainly help to have a specialization in our industry. Whether its senior sales, Social Security strategies, or one of several dozen other niches, having a specialization can help you differentiate yourself from the crowd.
5.) You only get one shot at a good first impression.
This ties in with our first point about selling yourself instead of a product – when dealing with financial services, clients appreciate and respond to a professional; after all, that’s what we all are! It pays to act the part, and this extends to your dress code, mannerisms, how you speak, and how you conduct yourself. It may behoove you to save the jokes and kidding around with your clients until after you’ve signed them up. A professional website, business cards, office, etc. are also strongly encouraged.
4.) Referrals are your friend.
Much has been said on the topic of referrals, so I won’t belabor the point. However, it never hurts to ask your clients for referrals – and you may just surprise yourself! (Don’t forget to ask your sales representative about Zenith’s Referral Bonus too!)
3.) Listen more than you speak.
On my first day in the industry as a wet-behind-the-ears newbie, a veteran agent told me “Open your ears and close your mouth and you’ll get much farther”. Once my 24-year old self got over my righteous indignation, I realized he was right. Active listening is a vital skill in determining exactly what a client needs from you. Far too many of us (myself included sometimes) don’t listen to understand – we listen to reply. Understanding will bring in more sales than replying every time.
2.) The power of a personal touch.
The power of personal relationships cannot be understated, and clients can really respond to you if they feel that you care about them as a person, not just a commission. Such things as thank you notes, happy birthday notes, etc. can really help you develop a personal relationship with a client! You can even go as far as asking if you could have provided better service – you never know what you might learn.
Partnering with a local P&C shop, CPA, or attorney can be an excellent way to generate new client leads, as well as solidify professional relationships and uncover new sales opportunities.