Welcome to another episode of the playbook, this time the dynamic duo dives deep into 5 quintessential reasons why insurance leads often fall short!
Shedding light on the common pitfalls and strategic challenges that insurance agents face, the hosts emphasize on the persistent follow-ups and maintenance of a real and emotional connection with clients.
Also covering the critical role that CRM systems play, the Idudes encourage insursnce agents to let go of the common misconception of "bothering" leads and encourage daily follow-ups for consistent engagement.
📻 Tune in for some actionable advice and strategies to overcome challenges you may be facing in your agency.
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The Insurance Dudes are on a mission to find the best insurance agentsaround the country to find out how they are creating some of the top agencies. But they do not stop there, they also bring professionals from other industries for insights that can help agents take their agencies to the next level.
The Insurance Dudes focus on your agency’s four pillars: Hiring, Training, Marketing and Motivation! We have to keep the sword sharp if we want our agencies to thrive.
Insurance Dudes are leaders in their home, at their office and in their community. This podcast will keep you on track with like minded high performing agents while keeping entertained!
About Jason and Craig:
Both agents themselves, they both have scaled to around $10 million in premium. After searching for years for a system to create predictability in their agencies, they developed the Telefunnel after their interviews with so many agents and business leaders.
Taking several years, tons of trial and error, and hundreds of thousands of dollars on lead spend, they’ve optimized their agencies and teams to write tons of premium, consistently, and nearly on autopilot!
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But I You don't I got Greg. I have five reasons why insurance leads just don't work. Insurance dudesCraig Pretzinger:
are on a mission to escape being hit by our agencies how?Jason Feltman:
by uncovering the secrets to creating a predictable, consistent and profitable agency Sales Machine.Craig Pretzinger:
I am Craig Pretzinger.Jason Feltman:
I am Jason Feldman.Craig Pretzinger:
We are agents.Jason Feltman:
We are insurances.Craig Pretzinger:
Five Quint quintessential,Jason Feltman:
they suck, don't they? Yeah. Because leads are not the way to get clients, are they?Craig Pretzinger:
No. And you know what, especially, especially when they're bad leads.Jason Feltman:
Yeah. For all you haters out there, it's like, oh, internet leads this mailers that's the bottom line is we have to have leads, we need people. You have to be a hater. If you you're into mailers, I mean, it's still leads, even though you want to you know, tear down the entire force to get one sale. You can do it that way.Craig Pretzinger:
Yeah, I remember when well, I barely remember back when I was young. But over at Merrill Lynch, you know, same same type of thing. It's a funnel, right? You got to make dials, you got to make contacts from contacts, you gotta make set the appointment and that whole thing, right, same same situation. And it was very difficult, especially whilst young to focus on the activity, and not the result right with that, when you're younger, you have that that need for immediate gratification. So it's really hard to go, oh, man, I have to make 100 dials today so that I book an appointment in a week, that's going to lead to a sale in a month. Right, was really challenging. And that's where I think even some discussions we've had in some of the groups online is around that. Right? Like, right, but we know at the end of the day to what you just said, you have to have quotes, right? Like, and the only way to get quotes is to have people, right,Jason Feltman:
and you already have that you're already paying for the people. So the best use of the person that you're paying, let's say 100 and something dollars for for the day, to put as many people in front of them as they can, because then you're getting a better value. Yep. And soCraig Pretzinger:
that you pay him $100 A day, how much did you pay to get that one quote from that person?Jason Feltman:
What if they did? 10?Jason Feltman:
There you go. 10 bucks. Oh, wow, thatCraig Pretzinger:
seems better.Jason Feltman:
That does seem better. So and I'd like to say like the emotional part of the you talked about for Merrill Lynch is what they're feeling every day and us as the business owner, we have to be cognizant of that. And know that. So like, like, what can we do to help? So here's five reasons why they don't work. Let's dive into number one. Yes. Yeah, this person doesn't make enough calls. If you're not making enough calls on your leads, then guess what? Leads ain't gonna work? No, I'm talking about mailers. I'm talking about even if they walk into the office, like you got to call him back. Right?Craig Pretzinger:
Yeah. Well, I would argue that there is not a single producer in this country who makes enough dials to make leads work.Jason Feltman:
Hmm. There's not one.Craig Pretzinger:
No. And you know why? Because we know how many dials it takes to make contact, and then how many contacts it takes to get to the quote. So just by default, there's there's not enough time in the day for that producer to make enough dials, at least from on those internet leads repetitively, right? We did it and they would happen. They left. Yep. So now that we got a little catch, catch 22. Hmm. They don't make enough dials. But they need to make the dials but they can't.Jason Feltman:
Right. And even so let's go further down the funnel and just talk about like the quote and the follow up to the quote and everything. Yes, I would say that there's still never enough like your sales agents. And so many times, I would ask sales agents before it was automated in the agency. How many? How many times did you call that lead back? And it was always like, Oh, 678 times and we go to find out it's like three times. It's like,Craig Pretzinger:
usually Max cap out at three, right? Yeah. It'sJason Feltman:
like, dude, call them back. text them, email them, like, Don't you know what? They don't do it because they feel like they're bugging them. But like, yes, bug them. And when they say you're bugging me say, Well, this is very important to me. I think it's very important to you. And I'm passionate about what I do. That's the only reason if you don't want me to call you tell me you don't want good coverage. And I will never call you again.Craig Pretzinger:
Yeah, I remember. I remember talking to so many producers and getting them to move past the thing in their head where they say, Well, I'm not going to call this one because they just never answer. Well, none of them ever answer until they do.Jason Feltman:
Yep. Okay, so So number two the reasons why insurance leads don't work. The team objects from the phone call. Does If not stay on the phone.Craig Pretzinger:
Yeah, it's like the it's like the old saying Never trust a skinny chef, I think you never trust a quiet salesperson.Jason Feltman:
That beginning of that phone call conversation for anybody it for any leads that you're buying. Nobody wants to quote, nobody wants to talk to you. Nobody wants to talk to you. Right? You're the unwanted guests at that at that point. So it's like, unwanted pest. Yes. Unwanted pest. At that point. Just stay on the phone. Just keep talking to them. It's so unnatural to do that most people don't do it. But like that's the skill that needs to happen. Otherwise, those leads are wastesCraig Pretzinger:
got to flip them from that unwanted past. To the Welcome to guestJason Feltman:
that's it. That's it. All right, number three, does not connect with the prospects.Craig Pretzinger:
First one, I read that I thought you meant, like doesn't like the the call doesn't ever happen. But that's number one doesn't make enough phone call. I know what you mean with this? It's like the one with the with our with our wives? Yeah, we don't connect enough. So you're gonna sleep on your side of the bed? Right?Jason Feltman:
Yeah, in the thing is, is that like going through a quote, there's so many like pieces of information that you need that it can turn very robotic quickly. So it's like, when you're talking about insurance, don't talk about insurance, like, connect with the person and and if somebody's doing in your agency, and they're doing a lot of quotes and stuff like that. They're going to try to get through quickly, they're going to default back to not connecting as much. But that connection is everything.Craig Pretzinger:
Yeah. And they need to be at the height of their emotional game on every call, right? Yeah, what happens at the end of the day? Well, you know, they're a little drained or a little tired. And this is the tough part is you do not want to be drained at the end of the day, because this is the time of the day where the most action happens to the phone more, we're getting some more transfer, all that stuff happens. So they need they need to be focused.Jason Feltman:
Yep. Okay, so number four, this is this is all true. This is the top five reasons that that leads do not work in all agencies like these are the top five and number four is the agent talks them out of getting the policy.Craig Pretzinger:
Don't you have a an example of this happening in my office? Yeah, back when you heard it while we were on a call?Jason Feltman:
Yeah. It was like, did you hear that?Craig Pretzinger:
What did he say? I thinkJason Feltman:
literally, he said like, or you could it was like at the end of the conversation. And he gave like he like said something. And then he said, or you could or I could just call you back tomorrow. And think about it. And it was like, wait a minute,Craig Pretzinger:
why literally closed up? He said, so all I need to do get this started as bubbling up. And I can you know, she said it. And then he waited. And then he said or I can honor all of your excuses that you have right now. And we'll just talk tomorrow.Jason Feltman:
But then not only did he honor it, he kept like, Are you sure about it? So then I'll just call back tomorrow and then figure it out. And then you can just like, like, like he kept unraveling what he just did. And but I thought it was funny because that's, I mean, that's what you hear every year buddy in the office do because they don't realize what they're doing. Right? They think that they're like, Oh, this is going to help them out. And even more. No, it's not right. If we all spent 100 hours a day making decisions on insurance and like, like, you know what colors to wear, it's like we would never be making important decisions. Like,Craig Pretzinger:
there's been a lot of time on colors to wear. Oh, yeah,Jason Feltman:
I do. So I mean, it's just like it's more empathetic to save everybody's time. Time isCraig Pretzinger:
money. Well, you know, they sometimes they I remember somebody here saying like shopping with their wallet. Like you do not want the producer to shop or the sales agent to shop with their own wallet. Right? The AB somebody you know, a 22 year old sales producer is going to have a different perspective on a$2,000 premium than a 50 year old.Jason Feltman:
Yep. So I'm gonna give you the number one thing out of these five things, right? We're up to the point where we've done the quotes. So agent Sam has enough quotes now. So what is the number one reason why insurance leads suck? Even if you get enough quotes, here it is. Because the agent doesn't follow up enough after the quote and fast enough. This is 100% Dude the difference in close rate on this one thing, I guarantee you, if you follow these five things, your agents will dominate. But like this one did.Craig Pretzinger:
Well, this one you can everybody on this everybody listening can can think back to this happening. Right? Yeah, like where where their person goes out of town because they their sales agent goes out of town to take vacation whatever what happens when they get back dead right? Yeah, all of a sudden their pipelines dead because all those people who they needed to follow up with during the time that they were gone now didn't get followed up with enough or fast enough. And they're all gone. They're all they all got Geico. Yep. So what whatJason Feltman:
do you mean by this? Well, this is the number one thing that you're going to hit for your salespeople. Well, they don't get paid till Friday, next Friday, they're getting paid, then they put the task out to that day. And guess what happens? Craig's agency closes them why? Because in this is the number one thing, write this down right now, I will today change my CRM to follow up with every single day will it's gonna annoy them, they told me to follow up next week, I don't care, we beta tested this, you have like so many 10s of 1000s of times, like they need to follow up every single day 80% of a conversation will be lost within 24 hours. That is like science right there. I don't have the scientific reference for it. But I know I've read that somewhere, that somebody will lose 80% of a conversation within 24 hours. So they're not gonna remember,Craig Pretzinger:
the next the next 48 hours is gone. So theyJason Feltman:
and for us, it might be a lot. So five minutes for me. So that's it, dude. Have your agents follow up every single day? Well, what am I going to talk about? Talk about the talk about the stuff that you connected with? It doesn't matter. They're not going to answer anyway. Yeah, that that is the truth. Call them every single day. That's it.Craig Pretzinger:
Well think of it, like think of just numbers wise to beat a dead horse. If you had 100 people, and you didn't call them because you don't want to bother them and may end call them too many times. How many of those people are you going to close? None. Right? None of them are going to call back when they said they're going to call back if you bothered. Right quote unquote, bothered them by calling them every single day. How many of that 100 are going to close? Some amount? Yep. Right. And if we continue forever to call once a day forever, until they say either buy Don't ever call me I hate you. I mean, eventually, they are going to buyJason Feltman:
so now you know the top five reasons of why leads don't work. flip those around, actually do those five things and now leads work now you just need to put a lot of those leads in front of your agents. And then guess what happens? The magic later. You're selling a lot of policies.Craig Pretzinger:
Yep. You get through the dip. And then it justJason Feltman:
That's it. So if you like this, please subscribe and we will see you soon.Craig Pretzinger:
Hey, don't we have a web page? You can't end toJason Feltman:
end the thing quickly. Can I everyone?