Cold calling is an intimidating concept for many insurance agents. However, it’s important not to ignore this crucial sales technique. While it may seem awkward–even rude–to call people you don’t know out of the blue, it can lead to new contacts, sales prospects and, ultimately, customers for insurance or mortgage business.
How Does This Relate to My Industry?
Cold calling is a great way to gain new customers, no matter the industry but especially insurance. What you’re effectively doing is attempting to expand your market share while also alerting potential clients to products and services your insurance agency offers. The real goal of the cold call is to set up a meeting with anyone who has the authority to make a deal with you.
How to Execute a Powerful Cold Call
It cannot be stressed enough: the cold call is designed simply to get your foot in the door. Most executives and decision-makers at any given company are busy people with a lot to do. You don’t want to keep them on the phone all day while you pitch the details of your product. In fact, you may not be able to get a decision maker on the phone at all. The key is to be concise, persistent and, as the saying goes, ‘don’t take no for an answer’. Once you get that face-to-face meeting, it’s much easier to truly reach that person and convince them to see your side of things.
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Always Deal in Specifics—Not Generalities
When you cold call, don’t ask to schedule a meeting for “next week”. Make sure you schedule a meeting for “next Wednesday at 9 in the morning”. Be precise! Nail it down! Keep in mind: the best times for meetings are Tuesday, Wednesday and Thursday mornings. Mondays are usually time for team planning meetings and such; on Fridays, most folks are thinking about the weekend. And it’s always nice to send some kind of a ‘thank you’ to keep you fresh in the mind of the decision-maker. Exactly what doesn’t necessarily matter, be it a gift basket or if you’ve got a friend who does Shiatsu massage—the point is to appear properly considerate and respectful of others…and their valuable time.
Cold Calling is an Art—Master It
You may start a cold call feeling like there’s a chunk of concrete in your gut—but keep in mind, practice makes perfect, and mastering this art will allow your insurance agency to survive…and thrive. Make sure you’re taking proper advantage of this often overlooked (sometimes, purposefully overlooked!) sales technique. It can add customers and increase the bottom line. The main reason the technique gets a bad rap from those who use it is because it can be daunting—but those who learn how to cold call well reap big benefits. Become one of these people—and you’ll learn to love it.