Insurance Agent "gun-shy" [his words] after many failed advertising attempts

6 replies
Yesterday I hopped on a call with an insurance agent
who was seeking help to get clients.

I won't go into the media he was using because there is a bigger lesson here.

That being said, he could use mass media,
meaning get his message out to a large audience
and take anyone who walks through the door
[btw I did show him how he can do it and for free]

Or...

Proven big spenders.

In his case owners of 3+cars
own home
rv owner
truck owner
boat owner.

He now has a clear choice, allow anyone including low premium
pain-in-the-ass customers walk through his door...

or only big spenders.

.

Even though I showed him to use a shared mailer,
having 2 other advertisers cover the cost of the mailing
going out to an audience you know very little about
or invest in getting his message in front of big spenders.

He agreed that you can hardly make any money
out of those low premiums
and they are high maintenance.

Same reason why Dan Kennedy waivered
his speaking fee at a Gary Halbertevent,
attendees paid $3,000 for the ticket.

Gary Halbert would call them players with money.

Best,
Ewen
#advertising #agent #attempts #failed #gunshy #insurance #words
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  • Profile picture of the author Claude Whitacre
    Originally Posted by ewenmack View Post

    Yesterday I hopped on a call with an insurance agent
    who was seeking help to get clients.

    I won't go into the media he was using because there is a bigger lesson here.

    That being said, he could use mass media,
    meaning get his message out to a large audience
    and take anyone who walks through the door
    [btw I did show him how he can do it and for free]

    Or...

    Proven big spenders.

    In his case owners of 3+cars
    own home
    rv owner
    truck owner
    boat owner.

    He now has a clear choice, allow anyone including low premium
    pain-in-the-ass customers walk through his door...

    or only big spenders.

    .

    Even though I showed him to use a shared mailer,
    having 2 other advertisers cover the cost of the mailing
    going out to an audience you know very little about
    or invest in getting his message in front of big spenders.

    He agreed that you can hardly make any money
    out of those low premiums
    and they are high maintenance.

    Same reason why Dan Kennedy waivered
    his speaking fee at a Gary Halbertevent,
    attendees paid $3,000 for the ticket.

    Gary Halbert would call them players with money.

    Best,
    Ewen
    Whales...The Dream 100. The 10% of the buyers that create 90% of the income for a salesperson

    Sooooo what happened?
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    • Profile picture of the author ewenmack
      Originally Posted by Claude Whitacre View Post

      .
      Sooooo what happened?
      Cliffhanger?
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  • Profile picture of the author Claude Whitacre
    Originally Posted by ewenmack View Post


    Same reason why Dan Kennedy waivered
    his speaking fee at a Gary Halbertevent,
    attendees paid $3,000 for the ticket.

    Gary Halbert would call them players with money.

    Best,
    Ewen

    Yup. High end seminar attendees are the cream of the crop as far as prospects for any offer to improve their business.

    My guess is that 10% of the paid attendees are sharks there for the sole reason of prospecting for business. I have two friends that do decent 6 figure businesses, that do no other prospecting than attending 2 to 4 events like this a year.
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    • Profile picture of the author ewenmack
      Originally Posted by Claude Whitacre View Post

      Yup. High end seminar attendees are the cream of the crop as far as prospects for any offer to improve their business.

      My guess is that 10% of the paid attendees are sharks there for the sole reason of prospecting for business. I have two friends that do decent 6 figure businesses, that do no other prospecting than attending 2 to 4 events like this a year.
      Yep.

      In the copywriting world, some of the trainers tell their students
      to attend those events.

      Harder for the newer ones if they don't want to part with their scarce money.

      So they attend free and low-cost events,
      then wonder why they don't work.

      One of today's A-league copywriters got his break
      from attending a mid-price event where
      there were a few big mailers in attendance.

      Back to the insurance guy...
      all I wanted to do is open him up to another world
      of possibility with the selection of his ideal clients.
      .
      It was only a 10-minute call.

      Best,
      Ewen
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      • Profile picture of the author StevenTylerPjs
        Ewen,

        I'm not in the insurance biz, but I guess it's the same for any. The guy with the cars, boat, big house - he's already got an insurance guy. And he probably gets loyalty discounts for being a member for so long and for bundling everything.

        How do you get him as your client? Do you just hope that his current guy has been slipping in customer service? If you're competing on price it will be tough since he's getting the discounts. (I get discounts for having the same company for so long, that's why I mention that.)

        What additional value do you offer? Was that part of the conversation or were you just giving him different targets to aim for?
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        • Profile picture of the author Claude Whitacre
          Originally Posted by StevenTylerPjs View Post

          Ewen,

          I'm not in the insurance biz, but I guess it's the same for any. The guy with the cars, boat, big house - he's already got an insurance guy.
          Everyone has an insurance guy.
          I question the wisdom of spending much time trying to flip insurance coverage of several cars, a home, and a boat. The entire commission may be less than $500 a year.

          But clients have varying levels of loyalty to their current agent. And the client may be slightly unhappy with his agent, for whatever reason.

          You would be looking for people with lots of insurance coverage, that are feeling abandoned by their agent. The agent may have died, quit, or semi-retired.

          Personally, I would spend my time buying lists of clients from agents that are ready to retire, or just quit the business. Those clients are ripe for the picking. And you could keep very busy with just a few of those lists a year.
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