DETERMINE YOUR INSURANCE SPECIALTY Examine and assess thoroughly your entire product line of available products. Next establish by looking at your past sales the one product you are most successful at. In addition clarify that this insurance plan is the one you are most comfortable selling. For example say your product chosen was major medical insurance. That in turn establishes you client base would be individuals single and divorced, self employed workers, families without coverage, college students, etc. You now become a major medical health insurance specialist.
HOW LONG HAVE YOU BEEN SELLING INSURANCE? If you started December 28th 2004 and now it is 2008, your would finger count the calendar years. That makes you a 5 year major medical insurance specialist. Focus 90% of your efforts on only this one product. That way you will not only be a specialist but an expert, which is an unbeatable combination.
PUT YOURSELF IN THE RIGHT DIRECTION Realize that being a specialist is financial rewarding only if your have designed a plan with goal. No matter how good an insurance specialist you really are, with prospects to sell your can not move forward. First you must find a total of 3 companies that sell your specialty product. Of these two should have top rate plans, and the third a lower cost alternative. Then comes the decision making on how much you are willing to spend to make say $5,000 a month.
GET OUT THE CALCULATOR Specialists can not be afraid to spend money if they are certain they can turn that into a much higher profit. Start out planning to spend $2,500 up front if you are serious. The renting of the prospect list is the maker of breaker of your future. Expect to spend up to $500.00 on the 5,000 prospect list. A good consumer list would be homeowners, ages 35 to 50, working in a self employed job, and living within zip codes of many middle class neighborhoods. Now get in touch with a printing/mailing shop who can take your carefully worded oversize postcard and send it out on four different drop rates for $2,000.
PROSPECTS TO SEE Your replies on a poorly written postcard sent to too wide a diverse group of people on a standard size card could be as low as 40. It the list selections were super and the large postcard covered the major points with an enticing flair, it might mean 100 responses. If you closed one in 4 on 100 leads, with commissions of $650 each, that would be $16,250. minus your $2,500 on lead acquisition and $1,750 on gas, meals etc. Your initial $2,500 netted you a clear $12,000. To reach your $60,000 annual income goal, your insurance specialist skills must make 125 sales. Not bad, try making that as a jack of all policies.
NO PROSPECTING Insurance Specialists should spend almost all their time selling and virtually none try to find willing people to talk with. Prospecting is a minimum wage to $10.00 a hour job that many people could do better than you. What caliber are you pushing for? Always to just squeeze by or consistently build your income? Too avoid prospecting you must pay out at least $12,500, but bringing in $72,5000 and netting $60,000 will also get you some nice additional same client sales and respectable renewals.