Ryan J. Pinney Pinney Insurance Roseville, CA

3 Key Themes for Insurance Sales in the 21st Century:

Pricing, underwriting, products, and service don’t matter

What I “do” doesn’t matter until it’s about the client

Sales funnel based on conversion, up-sell, cross-sell, referrals

A Changing Industry

Fierce competition+ Producers & agencies are

seen as commodities

+ Lost the “personal touch” that made our industry great

+ Consumers shop and buy differently now

= Pricing, underwriting, products, and service don’t matter

Customer 2.0Unlimited access to

knowledge

Seeks advice online from mega distributors (Amazon)

Uses social media to get recommendations

Doesn’t see the typical salesperson as providing value

How do you turn Customer 2.0 into a client?

Sales 2.0

1. Interact w/clients on social media to gain real-life insight about their needs

2. Prove your service has value: “I will help you with your personal financial goals” NOT “I have a great insurance product for you.”

3. What I “do” doesn’t matter until it’s about the client

TIP: Agency managers, encourage your producers to focus on value

The 21st Century Sales Funnel

Generate Leads with Your Sales Funnel

Do: Focus on existing clientele and centers of influence to find your best leads.

Don’t: Spend all your time trying to generate new leads or internet leads .

Spend time in the top and bottom of the funnel, not just the middle.

The Opportunity Cycle

Suspects: Communicate effectively with them; 84% will buy from you or a competitor within 24 months.

The Opportunity Cycle

Prospects: Create a lead nurturing process to take them from interested to ready to buy.

The Opportunity Cycle

Buyers: Turn customers into clients and advocates; they represent 80% of profits and less than 20% of expenses.

Up Sell, Cross Sell, Referrals

Upsell: add value for your client with riders, policy options

Cross-sell: add additional products and services with these marketing tips:

Customize

Use memorable visuals

Create an emotional connection

Solve their problem

Explain subjects clearly with visuals

Referrals: Use social media to ask for the referrals you want

Tools of a 21st Century Producer

1. CRM: track prospects, leads, and clients; set up automated marketing

2. Web communication: email, texting, blogging, social media, website

3. Analysis & data tracking: learn how and when your marketing is effective

Standardize, Systematize, Automate

Standardize: Perform tasks the same way every time

Systematize: Schedule tasks you’ve systematized, like fact finding and annual reviews

Automate: Technology completes your tasks for you.

Rinse & Repeat: Never stop reviewing & improving process.

Stand-Up, Stand-Out, & Be Different!

Decide to change

Find a niche

DifferentiateIf you’re saying

and doing the same things as your competitors – you’re just a commodity!

Thank you!