THREE TYPES OF INSURANCE AGENT RECRUITERS
First are those who do not spend over $1,000 a year recruiting. Next are those marketing recruiters relentlessly pursuing the $100,000 Salespeople or those agents they THINK are making a six figure income. Last are wise insurance marketers who realize they can make more sales overrides ignoring the $80,000 to $100,000 salespeople.
LOOK AT THE MARKETPLACE There are considerably more $100,000 salespeople selling annuities and financial products. Now look at your competition. They want the highest income agents as much as you and maybe more. High competition means big budget spending, using not only direct approaches but very costly purchases of the magazine ads mainly for name recognition. Independent agents and brokers already making as much or more than some of the recruiters after them control there own situation. You need them more than they need you.
THE AGENT RECRUITER LOOKING TO UP SALES OVERRIDES There are many great insurance salespeople earning $40,000 to $70,000 wanting to increase their income $10,000 to &15,000 next year. Remember that $100,000 salespeople did not start out that may, and they are loyal to the marketing recruiters that propelled them to the top. To create more sales overrides you need to either stop going after big financial pros or concentrate on the overlooked agents selling other products. Numerous agents in your territory with 4 to 12 years experience fit that description. An excellent mailing list compiler can get you those names.
HOW IT WORKS You have a hot new major medical policy that agents in your territory can use and also a pretty good annuity product. Hands down, promote your new major medical product. Start with a prospect mailing list composed of agents primarily with 4 through 12 years experience currently selling at least some individual health insurance. Now mail them, and maybe follow up with a few phone calls. Those that respond will be very interested if your product makes the grade.
CHECK THE FIGURES The independent agent sells one of your policies each month, and earns $12,000 in extra commissions. He has made his $10,000 to $15,000 income increase and is very happy to continue writing more cases for you. Here’s the catch, unlike any of your competitors your start him off with 4 free high quality leads you personally produced from direct marketing sales leads. In additional after each sale you give him four more. Your investment cost for recruiting and leads averaged spending $1,500.00.
YOUR BOTTOM LINE Your goal for the next 12 months was to increase your sales overrides by $35,000. These new middle-bracket dedicated producers averaged earning you $4,000 before expenses. That translates to $2,500 after your lead and recruiting expense per producer. To be on the safe side, lets say you contract just 16 new WRITING producers like these, Certainly your $35,000 income increase was met. Investing wisely in your mailings to upgrade your income is safer and more profitable than gambling at what could be a net loss.