Rarely is insurance brokerage marketing sales tips or advice given. Target market the best brokerage brokers only is a sales advice tip. Exposing how to use brokerage marketing for targeting these insurance brokers is detailed here. Not just tips, but the actually steps that insurance brokerage marketing firms must take to ensure targeting the best brokers in this market are properly followed.
About 1,000,000 health and life agents do not broker. Of the remainder, around 480,000 could be considered brokers. Too many insurance brokerage operations focus their sales marketing on any agent, as they do not investigate the few sources that can inform them who the brokers are. The rare firms that can do this sorting are titled insurance mailing list compilers. They have researched and individually put together a listing derived from a multitude of sources. The problems exists for you the marketer in wanting to target market exclusively the best brokers. Well you can, and you will see how.
In compiling the vast agent and broker data market information, a major concern goes far beyond normal. By normal, we refer to the multitude of sources that can provide you name, address, and some phone numbers on the combination of agents and brokers. These by themselves are initially cheap sources that will financially bite you when it comes to getting results. Look at the following information to see how this is costly and not wise.
Say you are a state, regional, or national insurance brokerage marketing firm looking to recruit the best brokers for your new annuity product. The normal list broker or list informs you that there are 28,500 agents and sales brokers in the target state. The researched list compiler determines there are 8,200 annuity brokers. Your budget will allow enough money to target only 4,000 to 5,000 brokers and of course, a smart sales tip would be that these are the best annuity brokers for your product.
Now you can target market the best brokers only.
If fact you will see how you have two different optional ways to do this. If your insurance list compiler has a long experienced background with records going back many years, this feat can be accomplished. The list compiler may know what companies this broker is appointed with. Along with this comes a skill in matching companies’ appointments only when possible to an insurance company specializing in selling certain product like annuities. Additionally by scanning through the broker files it can be determined often how many carriers they represent selling a certain product.
Look at an insurance brokerage marketing sales project, like the one mentioned above. Of 8,200 annuity brokers, only 4,000 to 5,000 are wanted, and only the best of the best. Only an insurance list compiler with the proper programming and skills could manage this challenge honestly and efficiently. You will be given sales tips on requesting either of two options, both of which we will look at.
Option 1 – Company Representation
There may be say 10 hot annuity insurance competitors and you want to target market the brokers that are appointed with those carriers. Usually for ethical reasons, a minimum of five insurers are required. An internal program is then run selecting out only those people representing one of the 10 providers requested. Then it makes sure each agent name is only shown once, as it is possible to represent more than one company. Result = 4,023 annuity producers. Mission accomplished.
Option 2 – The Responders
Imagine if you were promoting a $19.99 TV product, and your target list was only of people who had bought a similar product at least three times. Envision how many more sales you would get targeting them, than by just mailing to the general public. Take this concept and now apply it to limited amount of the annuity brokers requested above. The insurance list compiler does a little internal magic. First, the annuity brokers in the state are separated from all the other broker and agent names. Next, a selection is done to only pick out those currently representing three or more annuity carriers. It is the same concept as the list of people deciding to purchase a similar product they bought three times before. Result = 4,985 best of the best annuity responders. Mission accomplished.
Final comments & sales tips
To insurance brokerage marketing sales, a list of top quality similar product producers should be compared to willing, ready, and able insurance leads for agents. If you want to be the best, work just with the best.
Well published author, Don Yerke likes to concentrate on what you don’t know or what no one else dares to print. Tell it like it is.
Watch for his new paperback book debuting on Amazon this summer. It is loaded with great insurance marketing, brokerage, sales, and recruiting information.