Selling Insurance Today

Review 2008 Insurance Marketing Strategies

As 2008 comes to a close, this is an appropriate time to review the results of my marketing strategies, production numbers, and income for the year.

Every year this time, I evaluate which marketing strategies were productive, and which were duds. This weeding out process will determine which ones I will continue to work with improvements, and which I will drop completely.

Here is a list of marketing strategies that I implemented during 2008.

1. Purchase shared internet life insurance leads
2. Generate my own final expense insurance leads
3. Solicit referrals from existing clients
4. Upgrade & sell new products to existing clients

Update Insurance Marketing Strategies for 2009

Purchasing shared internet life insurance leads was somewhat of a disappointment. Even though I earned approximately double what I invested, I expected to earn 4 to 5 times my investment. Unfortunately, there were more agents purchasing the identical leads that I received than I expected. In 2009, I will replace shared leads with exclusive life insurance leads to reduce my competition.

I plan to continue to generating my own final expense insurance leads and perhaps increase my investment and time with these leads. As expected, my earnings from working these leads is about 3 times my investment. By tweaking this marketing approach, I believe I can even increase my return on investment.

Referral leads from my existing clients to their friends, co-workers and relatives is the most cost effective lead that I can get. Usually, clients will recommend leads for me to contact in assisting them with insurance, annuities, or mutual funds. In 2009, I will actively solicit referral leads from my A-List clients.

Another cost effective sales lead is to approach existing clients about upgrading their current insurance or savings program. I will continue to systematically schedule appointments for client reviews to identify potential upgrades and new product sales opportunities.

I also plan to add a new marketing strategy which has a proven success record with other businesses. More and more businesses are implementing direct response advertising as a strategy of adding prospects into a sales funnel. The sales funnel approach usually includes an up-front giveaway item that is relevant and interesting to prospective clients looking to review their current insurance and/or savings program. The funnel then leads the prospects along a path of offering additional products and services at the backend.

I’m excited about designing a profitable sales funnel that can be implemented inexpensively by leveraging the benefits of the internet.

That’s my 2008 review, and simple plan for increasing my earnings in 2009 using my updated insurance marketing strategies.