There are too many people working in the insurance industry who struggle with generating decent revenue and making the difference they want to make.
I love working with advisers and supporting them to access the untapped potential that presently lies dormant in their prospect and client databases and their other connections in life.
The challenge with selling insurance seems to come down to three things;
1. Advisers are still using inefficient techniques for lead generation; for example door to door knocking and telemarketing. These are very leaky, it takes an awful lot of activity to create results, and the quality of leads is questionable. I think that they also often focus on either new business or referrals, not both.
2. When advisers are in front of prospects, there can be a tendency to push product rather than give advice. When the conversation is more transactional than inspirational, the conversion rates are lower.
3. At worst, advisers are not connecting regularly with prospects and clients (except at renewal time), and others are simply checking in/touching base or catching up without adding any value. This is very annoying for the other person, and is wasted activity, simply because this kind of nurture strategy is not going to result in additional revenue!
“Laurel is very straight forward about our journey and she makes me commit to it which I value the most. She has pulled some great things out of me that have made me re-evaluate how I do things and it all seems to be working very well. I am feeling great after spending valuable time with her. I feel different, more confident with getting out there and not worried about being vulnerable. I started a new book (Mindset- Carol Dweck)which Laurel suggested and it's great. I have realized that I have my own hang-ups which we all do and Laurel helped me to own them and use them to my advantage.
Laurel has come into my life at a very good time, I was going through a stage of self-doubt and now after working with Laurel I have learned a lot more about myself, I have more energy and new ways to work within my business & daily life.”
Paul Brill ( Insurance Tailors)
I think the tragedy is that many good advisers are leaving before they give this profession enough of a chance, and many that are staying, are simply not enjoying what they do, primarily out of frustration.
If you look at the performance of advisers, there are three basic levels.
At the least successful level, they are not generating any new leads, and any leads that come to them are lost because of transactional and product oriented conversation.
At the middle level, they are practising leaky lead generation techniques, are having conversations that may be valuable, but not inspirational, and their nurture campaign consists of 'checking in' sporadically, with no value add.
At the top level they have crafted a unique lead generation machine, just for them (see left). They have also explored their own thought leadership, and drivers for being in this business, and any conversations focus on value and advice. when they connect with clients and prospects (the lead generation machine covers this too), they are either (1) re-emphasising the business value, (2) sharing ideas and insights or (3) continuing to educate (this strategy is based on Jill Konrath's brilliant work around selling). They are certainly accessing the potential that is usually untapped within their connections.
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