If you’re a manager, what are you doing to recruit new agents? Are you going after seasoned veterans with sales history, or are you looking to attract young talent that will be a part of the industry for years, even decades to come?
Continue Leave a Comment November 22, 2011
Some of you may be aware of a learning methodology called Bloom’s Taxonomy. It analyzes the process individuals must undergo to learn and retain knowledge most effectively. With the onset of the digital age, Bloom’s Taxonomy got a facelift in 2001, when the methodology was adjusted to account for the manner in which individuals learn via technology.
So what does this have to do with marketing? Well, I think the same principals of Bloom’s Digital Taxonomy can be applied to your content-generation process (that is to say, how you come up with and refine your web content). So what are the principles of BDT? Not only will I tell you, but I will explain exactly what I mean in a reader-friendly manner:
So there you have it: A different way to think about how you say what you say, custom-tailored for the Digital Agent.
Leave a Comment November 4, 2011
Many business professionals just getting their feet wet with online marketing tend to struggle with this question a lot. To fully understand the pros and cons of organic and paid search engine optimization, you need to know the difference between the two. So, let’s take a look at my very detailed, complex definitions for these critical aspects of SEO:
Organic: Use of keywords and a strong web presence to improve search result ranking.
Paid: Purchase pay-per-click ads on Google.
I hope I didn’t make anyone’s head spin with those. Now, let’s go back to our original question: Which is better? Well, like many things in life, that just depends on what your particular situation is. As you start out building your web presence, you will need to invest in pay-per-click ads if you want a guaranteed presence on search results. The more you build up your website with content, blog posts, etc…, the more you’ll improve your organic search ranking.
If you’re providing quality content in a variety of outlets (yes, this includes social media, which Google now uses in calculating search ranking), you can begin to wean yourself off of PPC ads. Obviously, organic search is ideal because it’s free and gives you a good gauge on how well you are marketing yourself online, but PPC ads do serve a purpose in your marketing mix.
Leave a Comment October 14, 2011
It’s no secret America isn’t getting any younger. The aging baby boomer population is upping the median age significantly with each passing Census, so naturally you’re going to want to look to seniors if you want to remain viable in the health insurance business. If you’re a numbers person (and who isn’t?), here are some stats from the 2010 Census that really, at least in my opinion, drive home my point:
I’m not great at math, but that’s 39% of the U.S. population when you get out the abbicus. So we’ve established a need to penetrate the market, but how? As always, a great way to establish yourself with any new market is to be an informational resource for your target audience. Don’t go all salesy in your e-mail campaigns. Instead, provide senior health tips, the latest news in senior health insurance products, and perhaps the latest in medical news that may impact them. Provide them with the information they need/want to read, then, in a non-in-your-face-way, let them know if they have questions about insurance, they can contact you and you’ll be glad to help.
Have you had a great deal of success working with the senior market? If so, we’d love to hear about it!
Leave a Comment September 29, 2011
It’s easy to get caught up in lead generation and marketing strategies to drive potential prospects to your business, but what’s the substance of your sales pitch once you actually get the lead’s attention? According to a DemandGen Report, about 44% of buyers say they are taking more time to research their purchases. And, since prospects are doing a lot of that research online without a sales person on the phone, you need to make sure your web presence provides both of the following:
An abundance of rich, meaningful content. You need to provide a variety of content that will serve different prospects in a different ways. For example, someone who is actively seeking insurance doesn’t need to be sold on a need for insurance. They need a break-down of benefits for certain plans, comparisons, etc… Go through your website and make sure you have something for everyone at all levels of the sales cycle.
Easy access to content. This one is simple. The content needs to be easy to find. A well-organized website should put the content your prospects are looking for only a couple of clicks away. Also, don’t be afraid to share your content and marketing collateral. Post links to Facebook and Twitter. The more places your content can be found, the more likely it is to be found (seems obvious enough), but remember not to spam your clients with links to your own site on social media forums. Chances are you’ll end up getting blocked from appearing in news feeds (discretion is always the better part of valor when it comes to social media).
So take some time and put yourself in your prospect’s shoes. Could you find everything you would want to see on your site?
Leave a Comment September 15, 2011
By Tyler Munn
It’s almost the end of 2010, and what a year it was for the iBoomerang Agent Blog. Our rookie year on the blogosphere went so well, in fact, I figured I’d share a recap of our top 5 posts of 2010 with you, the loyal reader, just in case you missed one of these potentially life-changing posts. Now, like many Americans and VH-1 programming directors, I only like to remember the years-gone-by in digestible sound-bytes interspersed with commentary from B-list celebrities and comedians. Unfortunately, Hal Sparks, Scott Ian and Bill Dwyer never returned my calls for this particular project. So, with the humbling realization that I am a C-list celebrity at best, I’ve pieced together this list, based on number of views per post, for you to wax nostalgia over. Enjoy!
1. Socializing at Work? The Benefits of Social Media
In the year’s most popular post, we examined why you should at least consider implementing social media strategies and what exactly social media can do for you, the insurance agent, by way of image, client retention and metrics.
2. A Client Retention Intervention
2010’s second most popular post is a stat-riddled look at not only the importance of client retention, but effective strategies for increasing client retention as well.
3. Texting to the Top? Not so LOL…
This response to a post on www.insuremeblog.com had legs of its own to stand on, making it the third biggest thing on the iBoomerang Agent Blog in 2010. We examined the potential value of text message marketing in the insurance industry based on a hearty helping of research and statistics in this eye-opening post.
4. Watering the Seeds of Sales with Drip Marketing
How many ad exposures does it take to get a prospect’s attention? Why should you use drip marketing? What are some things to keep in mind when preparing a drip marketing campaign? If you found yourself asking these questions in 2010, then you must have missed this post. That’s why 9 out of 10* agents recommend you check this blog versus the leading competitors twice a day every day. *Stat may or may not be true.
5. Mysteries of the E-Newsletter Revealed (Part 1 of 2)
This post takes a quick look at how e-newsletters can help your business before diving head-first into how to actually write your own newsletter. While the sequel didn’t live up to the hype of the original (and let’s be honest, it rarely does), I’d still recommend taking a look at it as well for content tips and marketing strategy.
Reading through that list certainly was a trip down short-term memory lane! Thanks to everyone for reading, posting comments and making the blog’s first year a resounding success. Here’s to a strong finish to 2010 and great new beginnings in 2011!
Leave a Comment December 21, 2010
By Tyler Munn
While it’s true that time equals money, that trite little phrase doesn’t actually tell us anything about how to spend our time to maximize the amount of money we bring in. Thankfully, we have an abundance of researchers and research firms to provide enlightening answers to questions most of us don’t have the means to answer. This week, Agent Media released their 2010 Independent Brokerage Study- a survey of 1,300 independent producers regarding their business practices- and it offers some interesting insight into how top sales people are using their time to turn a profit.
The study asked producers earning over $100,000 in annual commission how much time they invest each week on certain online activities. Here are a couple points that I found interesting:
67% of agents said that prospecting for new business was one of their biggest challenges, yet very few top-selling agents spent time utilizing the Internet to bring in new business. Online prospecting activities were pretty much limited to e-mailing (38%) and social networking (9%). This suggests that either prospecting online isn’t very necessary, or the Internet is still being under-utilized as a prospecting tool. Since other studies we’ve looked at on this blog tend to say the Internet is an increasingly vital tool for the insurance-seeking consumer, I tend to lean towards the latter of these two conclusions.
Another stat that struck me as interesting was that only 4% of top-producing agents spent time creating content for sites other than their own (this would be writing blogs, submitting articles to 3rd party sites, contributing to streaming content, etc.). While it would be interesting to see if that 4% averaged more in annualized volume than the other 96%, this stat does indicate that there is room to separate yourself from your competition by establishing yourself as an industry authority.
Those were just a couple of thoughts that crossed my mind when I looked at the study. Take a look at it for yourself and let us know what you think!
Leave a Comment November 15, 2010
By Tyler Munn
To say there is a lot going on in the insurance industry right now would be an understatement. Health care reform has brought with it a host of issues that must be confronted by agents and clients alike. From changes within the industry to scams and fraud, mixed with political punditry and misinformation, if you thought it was hard to keep up with the reality of the situation, imagine how your clients, leads and prospects feel!
First, insurance scams and fraud were already on the rise in 2008 and 2009, before the PPACA was even voted into law. Preying on the fear and uncertainty that have come with the bill’s passage, some unscrupulous individuals are naturally trying to take advantage of unsuspecting insurance seekers and carriers. According to a statement made to US News & World Report, bogus health plans are the biggest consumer insurance fraud to emerge from the recession. Missouri alone has issued over $1 million in fines for bogus health plans.
Second, this is a period of intense transition for carriers and other industry giants. Some have dropped out of the industry completely, while others are modifying their business practices in an attempt to compensate for the predicted ramifications of some of the law’s provisions.
What does all of this mean for you? It means you have to not only sell insurance, but the industry as a whole. Clients need to know that A) you are legitimate B) the policy you’re selling is legitimate, and C) the company you’re writing for is stable enough that they won’t have to go through this same process a year from now.
As I’ve said in previous articles, your credibility is your most valuable asset. From your website to the way you present yourself over the phone, right down to the style, content and grammatical accuracy of your e-mails, you cannot afford to miss a beat. When you’re discussing options with your clients, direct them to press releases or statements from the carriers (which can usually be found on their websites) that offer reassurance to the client that they’re going to successfully adapt to the post-reform environment.
Remember, you’re not just selling policies anymore. You’re selling faith in the industry.
Leave a Comment October 14, 2010
By Tyler Munn
Medical News Today gave a rundown of pretty much every public opinion poll that has been released in the past week regarding health care reform. As a sales professional, it’s always important to get a pulse on your audience, and Medical News Today hits the issue from all sides.
Leave a Comment September 28, 2010
By Tyler Munn
It’s almost that time! PPACA provisions officially take effect next week (Sept. 23, to be specific), and while some carriers and companies have already began implementing certain provisions, this will be the first time we’ll see many of the bill’s new measures in effect.
So what does this mean to you? It means you get a great opportunity to score some bonus client relations points by keeping your clients up to date on which changes will be taking effect on the 23rd. If you really want to go the extra mile and you really know your clients well, highlight and explain to them which provisions may impact them the most and if there are any new opportunities they may be able to benefit from.
Agent’s Sales Journal (who does a great job keeping up with reform rollout), posted a list yesterday of all of the provisions scheduled to take effect on the 23rd. I highly recommend checking it out, getting in touch with your clients, and doing that little something extra to help boost client retention.
Leave a Comment September 17, 2010
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