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Perhaps one of the biggest challenges to a life insurance agent is to obtain a constant flow of life insurance leads with good potential. Without prospective customers, the life insurance agents are almost out of business. However, by taking advantage of different types of lead generation techniques consistently, an agent can ensure to maintain the sales figure of his agency. Some lead generation methods don’t need any outlay of money, but they need a bit of thoughtful research and networking.
Here is a list of different techniques that life insurance agents can use to generate good quality leads without breaking the bank.
Create a list of acquaintances – At the outset, making a list of all family, friends and corporate acquaintances is very much needed. Once the list is created, an agent should start contacting them. Whether you’re a veteran or a novice insurance agent, you can certainly make use of this method. People you know are very good source of potential customers and thus good life leads. All of them may not have an immediate requirement for buying life insurance, but contacting them ensures that they would contact you while they need it. Making contact with them also ensures that they would refer someone they know if that individual is in immediate need of buying life insurance.
Join community business groups – You can join local business groups like local Chamber of Commerce to build connection with other business people in your locality and build a reciprocal business relationship. Like a local real estate broker can steer you towards people who have recently purchased a home and thus in need of buying life insurance. In return, you can refer your customers to that broker when they are in need of buying or selling a home.
Check local newspapers – Check the local newspapers regularly and create a list of people who recently have gone through a life-changing event like birth of a child or marriage. These are threshold events of life when people start to think about and evaluate their insurance need and thus they often look for some additional coverage, especially life insurance coverage. You may also visit local courthouse to get a list of people who have recently purchased or sold a home.
Sign up with an insurance leads service provider – You may sign up with a sales lead service provider to find quality life insurance leads. There are several websites that allow its users to search the databases for a specific fee per month. Make sure you use filters to find out potential customers by criteria like age, sex, income or home value. Also make sure you use the filter that eliminates people who don’t want to be called in case you want to contact the prospects by phone.
Get referrals – Ask your new and existing clients for referrals. If your customers are satisfied with your services and products, then they can be the best source of quality insurance leads. A satisfied customer is very likely to contact his acquaintances for you. Building a robust referral pipeline may reduce the need of making cold calls and thus give you more time to concentrate on selling.
These are just a few of many effective lead generation techniques. However, it would be always better not to use all the techniques at a time. Rather use a combination of different techniques for the best results.