The hardest part about selling life insurance over the phone is finding a good lead source. 6 years ago, you could make a great profit off of most lead sources out there. Now a good lead source is rare and if it really is THAT good, a deep pockets call center will buy them up with a quickness.
You may be a great agent with the knowledge and social skills to make a fantastic living selling life insurance over the phone, but if you’re not talking to interested people – then those skills are going to waste.
An agent I’ve been helping out was working aged life insurance leads profitably, but not doing well enough to get where he wanted to be. There was great weeks and very slow weeks, but this guy kept hitting the dialer hard. Most agents would have given up after a couple slow sales weeks, but this guy had a positive attitude and a great work ethic. Which is why I gave him the opportunity to work some of my self-generated leads and MAN what a difference some good leads make!
Form 5/8 – 5/31, he submitted $49k. Here’s a small screenshot of a spreadsheet we kept to track sales.
Why am I showing you this screenshot?
To show you the difference a good lead source makes.
Over 18 working days (not even a full month!), this agent submitted 34 applications for $49k in premium. Close to averaging 2 applications per day at an average premium of $1448.
All this agent needed was a good lead source and systems in place. And that’s where most agents fall short when it comes to breaking through with online life insurance sales.
You need to learn how to market…period.
Purchasing leads is a temporary solution to make an income. You should buy leads to build your database of prospects, extract referral sources, work on your sales delivery and get your sales systems working fluidly. And you HAVE to buy leads when you start in the business unless you inherited a great lead source. Beyond that it’s your marketing that will catapult you to the income you desire.
If you don’t know how to market for life insurance over the phone, explore the “inbound marketing” category of this website, but first sign up for my e-mail newsletter. I’ll have a marketing section on here soon and will be releasing tons of how-to content. I’ll shoot you an email when that portion of the site goes live.