Professional Sales and Marketing: A Few Additional Tips for Increasing Sales of Insurance and Financial Products

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Selling life and health insurance is not the easiest thing in the world. As a former agent licensed to write health and life insurance policies and related financial investment products, I am all too familiar with this hard reality. “No-one has endurance like the man who sells insurance,” they used to say. Today, with ever more regulations to comply with and more cynicism about salespeople (and financial matters) among the populace, life and health insurance are (arguably) more difficult to sell than ever before.

But there are ways and means of selling life and health insurance successfully even in today’s complicated market, and that’s important because life and health insurance are crucial components in the majority of people’s healthy and complete financial plans.

Many of the life and health insurance sales tips that you can uncover, by the way, can also be used to sell other products and services, for these are proven salesmanship principles and methodologies for professional success in the 21st century.

Sell Long-Term Care Insurance

Long-term care insurance was a new product just introduced when I was in the financial advisory business, but today (as was predicted back then), it has become a highly sought-after financial product. More people are living longer, and the need to adequately plan for possible long-term care in old age has become integral to a household’s total financial planning efforts these days. If you become a master of long-term care insurance, you can use the selling of it to uncover other financial needs of your clients while also getting the all-important referrals which are one of the two keys to success in a life and health insurance sales career. (The other key is repeated business from existing clients.) 

Since long term care insurance can only be sold to so-called “older” people (those 40 and older), your target market for this important product is one made up of people who have already established themselves financially and who are mature enough to tend to talk sensibly about other financial products like additional life insurance or investment products.

The important principle here for sellers of other goods besides life and health insurance: become proficient in selling one important product to a relevant target market, and you can use your knowledge to open new doorways to the sale of other products that you offer.

In Which of the Following Cases Is a Firm Employing Multichannel Marketing?

The answer is usually all of them. Multichannel marketing is an effective tool to reach more people in your target market. I saw the efficacy of this approach when I worked in the multimedia marketing world. Mix together your telephone calling, your e-mailing, your direct mailer campaigns, your networking, and whatever other marketing methods you use to get the word out about what you offer and what you can do for people. Don’t just use a singular selling method or marketing approach. Different people respond to different outreach media and methods.

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Think of How a Marketing Plan Is Developed During Which Phase of the Strategic Marketing Process

Way too many life and health insurance salesmen just go at their selling haphazardly. “Gotta spend a couple of hours on the phone tonight; I need some appointments.” “Oh, maybe I’ll send out an e-mail blast tomorrow; my sales are lacking.” No, no, no!

You need to have a marketing plan in place that you work on a daily basis, no matter if sales are up or down. You can and should revisit your marketing plan annually and make any necessary adjustments to it. But a pro-active, non-reactionary, defined plan needs to be in place in advance.

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