Prospecting is your biggest challenge. You tell us that time and again -- and now, we're bringing you 52 of the best prospecting tips that agents and other industry experts have shared to help you improve your efforts to drum up new business. Implement just one of these prospecting tips every week for the next year, and see if your efforts don't improve!
WHO TO PROSPECT TO
WHAT TO USE
7. Your own mailbox: When I had a team of 15 sales reps working for me, we would respond to every piece of local junk mail. We'd send a note saying, "You probably never know who opens your mail. Well, we did. And while we don't need your help at this time, should you need ours, this is what we do (adding a small pitch)." Within a few months, our office gained $12,000 in commissions from prospects who sent us junk mail.
Dan Seidman, Barrington, IL
WHEN TO DO IT
20. On their birthdays: The best prospecting technique I have used is to contact people on their birthday. I have picked up more business by contacting people on their birthday to wish them well than any other prospecting technique. By simply picking up the phone to pass along my best wishes, one thing leads to another. This is such a simple idea, but unfortunately not a lot of people really utilize this idea.
Mark A. Silverman, Miami, FL
WHERE TO PROSPECT
22. Where your target market is: You can earn an unlimited number of qualified prospects by networking with those people and organizations connected to the type of client you are looking for. For example, if you work in the senior market and your specialty includes helping applicants qualify for veterans benefits or Medicaid, then networking with assisted living facilities, home health care agencies, and nursing homes will allow you to create a stream of referrals that have been pre-qualified by those who know what you do and what a prospect looks like to you. Networking is probably one of the easiest methods of prospecting to initiate. You are talking to people for whom your services may make their job easier, and it does not cost them anything (other than time) to provide a referral service for you.
Kevin Wedmore, Indianapolis, IN
HOW TO PROSPECT
28. Narrow it down and follow through: Identify clients who fit within the target demographic for a life settlement (age 65+, life expectancy between 25 months and 17 years, no terminal illness or chronic/catastrophic conditions, owns life insurance policy with at least $250,000 face value -- most commonly a universal life policy). Conduct a planning meeting with your client to determine their current insurance needs and review their existing life insurance coverage. Determine if their current coverage amount and the policies continue to meet the needs for which they were intended and if those policies are performing in accordance with the needs and expectations of the insured. If it is determined that any or all of their coverage is not meeting the performance expectations, then a life settlement transaction may be suitable for consideration, and you can recommend that a settlement should be further explored.
Larry Simon, San Diego, CA
KNOW WHAT YOU'RE DOING:
35. Focus on the five senses: First impressions are everything. Be sure that you are consciously aware of what your clients will see, smell, touch, taste, and hear when they meet with you.
TAKE IT STEP BY STEP:
42. Ask your current clients for referrals: Your clients are your best source of new business -- but you must ask. Tell them who you are looking for, and then ask them to make the introduction.