Cold calling is one of the most predictable ways for captive or independent insurance agents to acquire new clients.
The process works by contacting leads, discovering their needs, letting them know about the insurance products that are available, and hopefully finding a good fit.
While cold calling has been tried and tested, like most things in life, the results are not guaranteed.
Every sales agent will experience rejection, hearing the person on the other end of the line say “no thanks”, “not interested”, or even hearing that dreaded clicking sound of the phone hanging up before you even finish your greeting can be pretty disheartening.
It’s even worse when you’ve gone through a long list of leads and haven’t successfully sold a single one on the products you’re selling; talk about feeling rejected!
First, it’s important to note that as an insurance agent or broker, you shouldn’t take rejections personally (as hard as that may be).
Second, by being prepared and having a lead management system and cold calling game plan in place before you start dialing, you can increase your chances of success.
Whether you’ve been using the cold calling method to sell insurance products for a while and haven’t had a lot of luck or you’re totally new to the gig, here’s a look at some handy tips that you can use to catch the attention of your contacts and hear more people say “yes” than “no”.
Table of Contents
Thoroughly Research Your Contacts
Before you even consider picking up the phone, you absolutely have to consider your contacts. What are their needs and how can you solve them?
How do you go about doing that? Easy!
Just think about the insurance products you sell and how they will be beneficial to your prospective clients.
For example, if you sell commercial general liability insurance, research the contacts on your list before you reach out to them.
- Visit their websites
- Check their social media pages
- Look into review sites to see what industry they’re in
- Research what type of products and services they offer
- Research what kind of clientele they work with
- Find out how large their operation is and how long they have been in business
- Learn what their customers have to say about working with them.
Use the information you acquire to try to determine what their goals are, how they are currently using the resources that are available to them, and how they go about running their operations.
This can help ‘warm up’ the cold call.
Develop Personalized Scripts
Once you’ve learned more about your contacts, develop personalized scripts for each one.
It doesn’t have to be very long; in fact, less than 20 seconds is ideal, as research shows that the longer you talk, the more likely it is that you will lose interest, and when contacts lose interest, they hang up.
When you’re developing your scripts, avoid talking yourself up.
Instead, your script should look something like this:
- Offer a brief introduction (who you are where you are calling from).
- Indicate the reason why you are contacting them; for instance, if you know that their business has recently expanded, let them know that your business has helped other companies acquire the additional insurance coverage they need.
- Next, offer a solid application of the services you offer; for example, how the insurance products can benefit the company.
- Lastly, ask them if you can set up an appointment for them to discuss your products and how you can meet their needs.
Make sure that this last part is smooth, not pushy. Despite what you may have heard, pushiness seldom works in the world of cold calling.
Remain Positive
Positivity is the key to success in all aspects of life, including selling products via cold calling.
Make sure you remain positive from start to finish and for each and every call you make. Contacts are far more likely to listen to what you have to say and interact with you when they can sense that you are positive.
Some tips for keeping your calls happy and upbeat include:
- Physically smile. It may sound silly, but people can actually hear you smiling through the phone.
- Set out pictures that make you feel good on your desk and/or walls; pictures of your family, your pets, vacations, and anything else that you love.
- Take breaks. While it’s tempting to push through to get more calls in, it can impact your positivity. When you work too much without taking a break, you get worn down, so treat yourself to much-needed breaks so you can recharge and reset.
Bonus Tips
Here are a few bonus tips for insurance agents cold calling leads.
- Register an insurance domain name
- Pay for an insurance website design or build an insurance website for instant credibility
- Set up an email address at your domain name
- Put your website address or URL into your email signature
After you speak to someone or leave a voicemail for someone send them a follow-up email that includes your email signature.
This will keep the conversation going while displaying professionalism and gaining credibility.
Final Thoughts
Cold calling insurance products can seem like a daunting task, but with the above-mentioned tips, you can increase your chances of success.
Following these tips on how to cold call insurance leads will have you closing more sales soon.
Remember to always do your research before you make you reach out to your contacts, prepare short, personalized scripts, and always remain as positive as you possibly can and you can make selling insurance products a lucrative career.
In addition to cold calling insurance leads, it is also wise to be marketing your services in a way that generates exclusive warm leads.
Here are a few articles that will help you learn ways you can market your services to generate leads:
