Let us start by defining the term Telemarketing.
So, what is Insurance telemarketing?
Telemarketing (at times also regarded to as telesales or inside sales In Ireland and the united kingdom) is a tactic of direct marketing in which the sales agent solicits potential clients to purchase their insurance products and services, either through a subsequent face-to-face conversation, over the phone or web conferencing appointments scheduled amidst the calls.
Insurance telesales can likewise comprise of recorded sales pitches automated to get played over the phone call through automatic calling.
That said, let us get to the main section of the post and discuss how insurance agents can escalate their sales with the help of telemarketing.
“The telephone is regarded outdated as a marketing approach, and social media platforms are the place to be”; and “telemarketing is long dead.” In a couple of ways, there is, to some extent, some truth in both statements.
Pure telemarketing is perhaps less efficient compared to how it used to be, as a result of the rising use of opt outs, voicemails, and layers in firms and organizations, implying that it’s getting harder to reach respective client and have meaningful conversations.
Nowadays, a more intellectual blended tactic to calling organizations is required. In the same way, the growing generation is probably less reliant on their mobile phones as a means of communication.
They were all born with mobile phones to their ears and their iPads in their hands. Even more, every single person is on Facebook and Twitter nowadays, and professionally speaking, most of us are signed up on Linked In.
So, does all this imply that telemarketing is no longer effective once it comes to Business to Business or Business to Consumer marketing? Not really.
One of the most effective mottos in insurance companies is normally “do what other companies do not want to do.” Most firms who still execute, either in house or offshore telemarketing, are generating impressive sales.
Other insurance sales agents even contact these insurance agents still making the most out of telemarketing and inquire how they are managing to stay at the top of all sales charts every week.
Once you choose to telemarketers as a portion of your main marketing campaign, then you require a little more time and effort so you can weed out a great portion of your competitors efficiently. I personally have found this notion to be true once it comes to telemarketing.
Nonetheless, let us face it, I do not think anyone really does like to make phone calls. It is not an amusing way to spend your day. But that does not imply that it does not work.
My friend’s firm constantly drove newfangled quotes through telemarketing every week for auto insurance. They tried to purchase leads from numerous telemarketing firms specialized in insurance related tasks, but they did not convert virtually as well as when they did calls in house.
Here is the reason why; the telemarketing leads they bought had way too much time delay. The telemarketing firm would do calls and then send them all the info, but my friend’s firm would not receive the information until the following day.
By the time they ran the quotes and tried to call back, almost 12 to 25 hours could’ve passed. This implied that most people were no longer even interested or just opted not to answer their mobile phones. Even more, the info they had was limited, and they had a hard time attaining full quotes from the limited information provided.
So my friend’s firm opted to recreate similar services offered by telemarketing firms using some of their staff, they were already paying.
After executing this, they would write down a simple script and promise to call in with the quote in the next 15 to 20 minutes. They even purchased a call list, and so they had a list to work with spontaneously.
Below are a couple of tips in case you opt to try in house marketing.
Call rural areas
In a published research, the outcomes exhibited that individuals in rural areas around the city you are in are more likely to answer their phones compared to individuals in urban areas.
Try and only call in the evenings
This research also has had insurance agents trying to call in the afternoons, and the outcomes just weren’t as strong. After opting to switch and only call in the evenings, the experiment yielded impressive results, unlike the first time.
Always try and stay with your team at the office late as your other workers work on call nights
That way, the workers can keep calling while one of your team members runs the quote, and calls the potential client back as soon as they can. This will also keep everyone on task.
Ensure that you track every single thing
Go ahead and write down how many quotes, how many answers, how many dials, and so much more. You will notice a pattern and decide on how many calls you ought to make and how often you’ll get the results you desire.
Always try to save some cash in your scripts
When you are cold calling, you’ve got to stick to what gets your potential client’s attention.
Telemarketing is a straightforward and affordable approach you can use to drive brand new quotes on a constant basis. In case you are in dire need of more sales as an insurance agency, initiate a “Dialing for Dollars” campaign in your firm.
That said, let us jump on to the next section of the blog post. This section of the blog is aimed at educating and informing you, the blog reader, on some of the best insurance telemarketing strategies.
Strategies to Generate insurance telemarketing leads
- What are your client’s personas? Or how do we describe them?
- How do you generate a contact list of all these persona’s?
- What CRM or lead management system do you utilize to manage the procedure?
- Are we pursuing inbound or outbound telemarketing strategies? In case it is inbound, which lead generation tactics are being used to produce inquiries?
- How will you handle sales calls?
- How do you propose or close the business?
We are going to focus on 1 item mentioned in the list above, and, i.e., How do you handle sales calls?
Without a doubt, inbound calls are way different from outbound calls. Let us explain in general terms here, and illustrate using 3 extremely different sales techniques.
1. Straight Selling
In this case, the insurance agent explains in advance that he or she is calling to advertise a product to everyone that might need it. There is no trying to manipulate, and the agent hopes that some trust can be established.
Obviously, some potential clients, who could actually benefit from the deal, might withdraw early from the call, so it is a pretty good idea to start by asking a number of qualifying questions. Let us say you are advertising car insurance products; you could start by asking;
- Do you own a vehicle?
- Are you content with your present car insurance product?
- Would you by any chance like me to run a quote?
This approach will save both parties sufficient time.
2. Object Selling
This is a selling technique based-on dealing confidently with every objection that a potential client might rise. Every objection is your opportunity to highlight the key advantages of your insurance products. Make it sound relevant to your customer’s needs, share additional information regarding your offering, and so much more.
By keenly listening to all your client’s objections and repeating them back and then responding them in full, the insurance agent moves a step closer to closing the sale.
Of course, the insurance agent needs to be meticulously familiar with all products he or she is offering to attain this.
3. Spin Selling
Once it comes to this technique, the insurance agent:
- Asks questions that highlight and identify problems.
- Discusses with the customers the undesirable consequences in case the complication is not dealt with.
- Offers solutions to the complications; for instance, taking a life insurance will follow this certain pattern.
In reality, a mish mash of all these (and perhaps other) techniques might be utilized when creating the sale-call aspect of all your telemarketing strategies for your insurance and every other industry sector.
All things considered:
Despite the fact that telemarketing might perhaps have a bad repute and is regarded to as cold calling and nothing more by some people, in reality, there are more than 10 ways you can make use of telemarketing and result in a big impact on the progress of your insurance sales and overall business.