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Insurance Agents Can Update Their Prospecting Strategy with These 7 Tips

by Precise Leads

June 29, 2018

Breathing new life into your prospecting strategy can be as easy as trying out some new tips.

It’s not an exaggeration to say that prospecting is essential for insurance agents who want to succeed — now and in the future. However, seeking out new clients can be an uphill battle. Whether they’re not returning calls and emails or they’re not quite ready to purchase a new policy at the moment, bringing in new business is easier said than done.

If you’re an independent insurance agent, the good news is that you have a wealth of prospecting strategies at your disposal. Whether you decide to invest more in your digital marketing or you want to rethink your referral program, there are always steps you can take to up your game.

Whatever approach you pick, remember that it’s always a good idea to regularly review your game plan to see what’s working and what’s not. There’s no harm in making mistakes or admitting that some strategies haven’t worked, so long as you “fail fast” and chart a new course quickly.

For agents considering which tips they should give a go, consider these seven prospecting pointers.

1. Prospect Daily

Each day — preferably in the morning — set aside time to prospect. Making it an everyday task is key if you want to establish effective work habits, whether you cold call new leads, engage prospects on social media, or sign up for a local networking event. The point is, prospects aren’t going to find you unless your reach out to them first, and that means putting communication at the top of your to-do list.

2. Refresh Your Brand

If your prospecting strategies aren’t attracting the volume of leads you’d like, maybe it’s time to refresh your brand messaging. Focus on your agency’s core skills — personalized service, expertise in specific insurance products, digital offerings — and craft your brand around those strengths. Feature your changes on your website and digital channels with redesigned aesthetics that show prospects that you’re not afraid to invest in their user experience.

3. Create Mailers That’ll Get Read

Snail mail direct mailers may be old-school, but like cold-calling, they can work if you do them correctly. Remember: mailers should look professional and catch the reader’s eye, but they also need to speak directly to a prospect’s particular insurance needs. A strong call to action also increases the chances the prospect contacts your agency for more information.

4. Invest in Digital Advertising

The most successful independent insurance agents combine traditional methods — think mailers and networking events — with modern prospecting strategies that take advantage of everything that the digital revolution has to offer.

For example, you can invest in Facebook ads that target your ideal prospects based on key demographic information, or you can optimize your website and digital content for search engines with keywords that effectively target prospects who are at the bottom of the funnel.

5. Prospect Out of Your Comfort Zone

Insurance agents who position themselves as an expert in one or two types of coverage stand a better chance of attracting prospects looking for those specific policies. That doesn’t mean, however, that you can’t venture outside your target audience to pick up new prospects that need your services.

Freelancers, for example, require a different set of insurance solutions than 9-to-5 workers — everything from individual health insurance to business liability coverage. By reworking your outreach strategy, you can learn how to appeal to entirely untapped markets.

6. Expand Your Product Offerings

Review your product menu to see if you can add complementary policies that will appeal to a broader population or provide cross-selling opportunities. Many of your small business clients may be jumping on the e-commerce wave, for example, which demands a whole set of coverage options unique to that sector.

7. Rev Up Your Referral Program

If you haven’t started a formal referral program, start one now. To get the most out of yours, thank clients who help you bring in prospects with personalized cards or a small, thoughtful gift. (Although most state insurance regulations permit an occasional gift — provided its not contingent upon a sale — check with your state insurance department first.) The best part of getting referrals? Unlike paid advertising, they often cost you nothing.

By bringing diverse methods into your overall prospecting strategy — from cold calling and Internet leads to sponsoring community events and seminars — you can set yourself up for success on multiple fronts. Remember to calculate the business generated from each method so that you can make changes when needed to boost your results.

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