All insurance prospecting mailing lists are not the same. A plain vanilla prospect mailing list may resemble a residential state directory or even a telephone book. Every insurance representative is currently listed.Each year you pitch the old one into the garbage. The old one in the garbage makes way for its almost twin replacement. Maybe the new replacement list also belongs in the trash. This kind of directory used as a prospect list is often the kiss of death.
Are you tempted to use this a free directory or cheap list for your insurance prospecting? After all there are lots of phones. Of the phones listed, 55% are currently also listed on the National, State, or Direct Marketing Association DO NOT CALL LIST. This means people get angered when pestered with your intruding sales message. Plus if they report you, your fine could exceed all the gas costs your car will incur for the next 18 months.As a salesperson your goal is to convince new prospects to favorably respond to your offer. Lots and lots of responsive it not a dream but a requirement..
Direct marketing experts agree that the single most important element to insurance success is the list you end up using to prospect from. The list is such an important ingredient in insurance prospecting that it holds a relative ratio of importance of 60%. A properly written sales piece holds up to 30% of the total value. 10% remains for the looks and creativity, plus timing in presenting your offer. The list is also the part that is least well understood by direct marketers and so its importance is commonly often over-looked or way under rated.
Compare the value of a target compiled mailing list. This type of mailing list is directed solely at a certain group of people sharing similar attributes. A list compiler uses a wide spectrum of sources to produce a targeted mailing list containing multiple similarities. The people on the list are checked for specialized work abilities, plus geographic, demographic, and census data. With your “qualified” list your are rewarded with benefits in return. The benefits are that the quantity of prospects increases, and since better prospects are easier to present your offer to, your total sales, and sales ratio increase.
Some list compilers can also supply you lists of responders. Prospects who have been proven to respond more than once to accepting offers presented to them. When you combine the responder aspect with targeting, you have a dynamite prospect list.
The absolute shinning crown jewel is finding responders who previous were sold a product similar to yours.
Targeting and identifying the right group of recipients is what makes targeted mailing lists work. A targeted mailing list is more cost-effective than other ways of advertising. By contacting a specific group of people directly, an insurance representative may avoid the cost of sending the ad to many people who will ignore it. It also helps direct marketers tailor their message to a specific group of people, making the ad more relevant and perhaps more likely to be read. A properly written sales piece, with the right list, often returns 10 dollars for every dollar invested.
Direct mail is the recognized as being the most powerful advertising medium available. Still more powerful than the internet and email. Put the correct direct mail sales piece in front of the right prospects and you will get results. That is if you are willing to spend an extra $100 to make $1,000 in additional profits.
If you think you are any good, spending a little the right way will quickly prove it. Otherwise, like so many agents, so will make the mistake that will end you insurance selling career.