Life insurance training could be described as fatal shock treatment injected into captive insurance agent training systems. Entering insurance training as a new agent you are are full of money making anticipation. See how quickly training turns to straining with the captive agent systems.
Wow can’t wait until Monday morning when you can come in about that fabulous unbelievable sales person acceptance interview. Is it fate or a golden chance that you were hired. Unknown to you, just now you fell into the life insurance training death trap.
Your sales manager seems like a wonderful guy with about 12 to 15 salespeople under his wing. Initially captive insurance agent training systems consist of working on your mind daily on how superior your products are. Heck, you begin to think they almost sell themselves. With some detective action, another new agent squeals that your sales manager’s life insurance training does not include providing leads of people to sell to. This is a big mental wound. You can dig up your own leads or dig your own grave..
From wonderful, your manager transforms to slave driver. The worst part of your life insurance training begins. Under the law of “all agents must do it”, you are handcuffed into writing out a list of 100 leads. These are names of friends, relatives and their relatives, neighbors, former work acquaintances, and your fellow church goers. That becomes the new revival plan. You should get plenty of sales opportunities. How does your manager call these 100 “sales leads”. These are only names and addresses of people you merely know or know of. As a result your “leads” you end up making more “pity sales” than sales from people wanting or needing what you sell.
Every night before you go to rest, you always see clouds of career death looming overhead. In just a year and a half, 85% of salespeople go through self termination, their career is dead. In the office you notice the seats in the office are occupied by newer agents with new phone directories. Almost like the twi-light zone,you feel spooky eerie feelings being emitted. (like a funeral parlor). It is not just you, it is like a plague sweeping across all the helpless new salespeople.
The truth stinks of rotting meat. What happened to your true life insurance training? Where are those leads you were told about in the interview? Your sales manager barks at you for not getting referrals, and for not talking to enough acquaintances. You wanted more “insurance agent training”, now you are given more. Provided for you, free of charge, is a death valley phone directory to start cold calling for leads. When unknown people object to seeing them, your sales manager crushes your ego, saying if you were more persistent you could have got a lead. You start to think your company, agency, and manager want you to sink six feet under.
It’s plain not right when your sales manager is constantly behind closed doors interviewing for new salespeople. Shouldn’t he be insurance training and working leads with you and his other salespeople?. You observe new agents are dropping quicker than a fly, but the ones that fail, pass on without a memorial service. Fresh bodies keep getting hired. You wonder how each time you come in the office it appears there are former acquaintances missing?
The hard to face facts creep into your no longer immune system.Your sales health is failing from lead deprivation. It does not matter how great a salesperson you may be, it you do not have any leads, you can not make any sales. Caught in a mine field, either you must surrender, or borrow $1,000 from a family member. If you want to make money in sales, you have to invest your own seed money to survive and prosper. You need leads to sell, not a phone directory for random prospecting. All things you were never told beforehand.
Here is how to beat the captive system.
It is actually a very easy formula to set up your lead system. A fair number of leads + decent quality = more sales presentations = more sales income. Pump quality leads into your system by looking up a list broker. He can get you a 2,500 name list of quality prospects. He can also connect you with a combo large mailer /printer. The person arranging your sales pieces is helpful in the wording of your sales piece to maximize your response. 2,500 inexpensive postcards are printed with your message.
FINALLY GETTING LEADS. Have 1,250 sales pieces mailed now. The next batch of your 1,250 sales pieces should be sent out 10 to 12 days later. Your initial response to your sales piece should produce anywhere from 12 to 20 interest reply leads. These people are eager to talk with you. 7 appointments gets 4 sales and $2,500.00 in commissions. Quickly pay off $100 on your loan, and invest another $1,000 before the second batch of leads come in. With stubborn determination you plan out how to keep from being buried alive.
First you start digging yourself out of the grave. At this point 2 sales miracles will automatically happen. You quickly get more experience leading to a higher rate of appointments. This in turn increases total sales, plus pushes up the average total amount of each sale.
The devil was your sales manager, agency, and company. They were working against you. If you leave they get all your business and future compensation.