For an insurance sales marketing company to fail in the competitive marketing arena occurs 150 times monthly. The problem is putting marketing objectives of cost in front of increasing sales marketing company performance. See how the culprit cheap destroys competitive marketing.
Every insurance sales marketing company would like to save money on their agent recruiting budget. Looking at competitive marketing firms, an insurance sales marketing company often makes the mistake of confusing cheap with lowering unneeded costs. Their marketing objectives requires obtaining insurance brokers than write a sufficient quantity of business. A cheapness attitude is destined to fail. It starts by cutting costs in the lowest expense category. That area is the list of potential broker prospects.
A typical insurance agent has a reason to be cheap. If they spend money unwisely, there will not be groceries to put on the table and bills will not be paid. This is of course, the reason so many agents are economically forced to quit insurance selling. You would think an insurance sales marketing company could start offering products and expect to survive on overrides if they were in financial peril starting out. Few start in this position. Insurance marketing requires facing competitive marketing firms. This of course requires an investment of money.
How can you reach marketing objectives of obtaining quality brokers, when you cannot see the spotlight warning? The warning is one of simple economics, you have to invest spending money first on competitive marketing for brokers. The brokers, if quality material, then provide the overrides by writing your insurance products. Like a well, it needs to be primed before meeting your marketing objectives. However countless insurance sales marketing company leaders try to put the cart before the horse. They want to make lots of money without spending first.
Insurance’s competitive marketing requires the proper frame of mind. Quit thinking of spending money, but investing in to reach marketing objectives. Never ever has a successful marketer proclaimed cheap as king. Yet numerous, unfortunately the majority of insurance sales marketing companies do exactly list. Marketing starts with prospecting. If your prospecting techniques are below par you are certain to fail.
Insurance sales marketing prospecting starts with a decisions about what agents and brokers or are going to target your product to. Yes you do need to target, quality brokers are not going to flock to you. Unqualified agents are not suddenly going to become qualified brokers. So in reality it all starts with the list of agents or brokers you select. Right away you select cheap as king. Get the cheapest prospective broker list you can find. Seek and ye shall find. Sure there are quality broker lists available, but hey you saved a little money.
Being unwilling to start with the most important investment heads to a marketing grave with the word cheap sprawled on it to remind you into eternity of the mistake you made. Will someone’s phone be ringing asking for directions? If not, I will be looking for your insurance sales marketing company name shortly in the marketing obituaries.
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 early this summer. It is loaded with great insurance marketing and recruiting information.