Empower your insurance business to convert to sales for Insurance Industry
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Convert to sales for Insurance Industry
Convert to sales for Insurance Industry
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FAQs online signature
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What is the average conversion rate for the insurance industry?
The average website conversion rate in the insurance industry is 9%. The Google Adwords conversion rates for both search and display networks are 7.19% and 1.75%, respectively. About 30% of traffic to insurance websites come from search.
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What is the formula for conversion rate in insurance?
After the ad duration, you sell one policy to 10 individuals. In this case, you can calculate the conversion rate like this: Conversion Rate = (Sales Frequency / Number of Leads) *100. Conversion Rate = (10/10000) *100.
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What is the conversion ratio in insurance?
Quote conversion rate is a metric used in the insurance industry to measure the effectiveness of turning insurance quotes into actual policies. It quantifies the percentage of quotes issued by an insurance company that results in a successful conversion and the purchase of a policy by the prospective customer.
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What is the turnover rate for insurance salesman?
ing to some estimates, approximately 30% of new insurance agents quit within three months. By the three-year mark, 87% of agents have either moved on to another company or left the industry altogether. Retaining skilled, experienced agents is a challenge all its own.
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What is the average conversion rate for insurance sales?
Standalone insurance conversion rates are at 1-3%. Embedded insurance product conversion is between 10 - 20%. Embedded also opens up whole new customer segments to carriers.
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What is the quote conversion rate for insurance?
Quote conversion rate is a metric used in the insurance industry to measure the effectiveness of turning insurance quotes into actual policies. It quantifies the percentage of quotes issued by an insurance company that results in a successful conversion and the purchase of a policy by the prospective customer.
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Is it hard to make money in insurance sales?
It is not easy to make a living in insurance, but it is not as hard as you might think. As with any type of sales, becoming an insurance agent can be one of the best paying hard jobs or a terrible paying easy job. Dedicated agents will become successful at insurance sales, just like at any other job.
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What is a good sales conversion rate?
Research also concludes that around 10% is a good sales conversion rate with the average conversion rate across industries being 2.5%.
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so what is going on guys welcome to the channel if we have not yet met my name is Peter Roberts and in today's video I want to share with you and break down with you my exact strategy on how I make ten thousand dollars minimum every week selling life insurance over the phone staying at home I want to share with you exactly all the things that have worked for me how weekend and week out I'm able to close over ten thousand dollars worth of business and I want to share with you exactly how I'm doing it then before we jump into this video before we jump into the strategies the marketing break down my actual ads that I use I am going to be giving you everything that is using that has worked for me to hopefully help you get to where you want because I want more insurance agents like you to one in this industry and most importantly I'm going to write down everything that will work for you if you do this step by step but most importantly I do not want to recruit you I'm not going to DM you and ask you to join my team I simply just want you to make more money and before we jump into this video I want to give you real evidence real proof on why should you even be listening to me this week so this month so far I've submitted fifty five thousand and one hundred and twenty six dollars and premiums selling only final expense all tell us sales over the phone and I want to show you exactly how I'm doing it and what you can do to more importantly start making money selling life insurance whatever life insurance product that will help you get to where you want to be financially in your life but the first thing I want to jump into when you're selling life insurance is one of the biggest things that I struggle with if you want to start making 10 000 or how I started to make ten thousand dollars every week selling life insurance is number one picking the product that you're going to sell now for me particularly I sell final expense life insurance yes I sell burial coverage basically to people who are looking for information on how can I have my burial Arrangements paid for funded by the insurance company because I don't have money in my saving account so the insurance company will pay for my burial so that my family does not have to I don't want to start a GoFundMe account I want my barrier to be paid for so what problem are you actually solving so there's two different three different products that you can sell no matter if you're selling term you know mortgage protection uh iuls or you're selling Barrel insurance no matter what product that you pick you need to First understand how are you going to become the best person in this field that's selling this and secondly how are you going to eventually find the people to sell to so the one thing I'm gonna share with you is I simply picked I wanted to sell life insurance burial protection insurance so that's what I found now the Second Step that I had to focus on the second thing that you want to focus on is how can you actually acquire your customer now here I'm going to break down the exact ads that I'm using you know ad templates things of that is actually working for me so I acquire so most people have to find a way to acquire their customer they can either buy leads from you know vendors like Smart Financial nectar go to like you know companies lead Source built in-house or you can go out to all these different and vendors happy agent you can go online and search through all those different vendors now all those vendors work I've used them I've gotten great results but I want to share with you kind of my strategy on how I'm trying to acquire the customer at the lowest cost my acquisition costs right now around 60 to 65 dollars to acquire a customer that's going to pay me around seven to eight hundred dollars in commissions and the way that I was able to do that was really focus and generate my own personal leads so the one thing that I want to share with you here we're going to jump into my computer when sharing what is your main acquisition Channel how are you getting clients and what are you doing to actually get people to you know put their information on get the lead put the first thing their last name the beneficiary name what are you actually doing because in order for you to scale to grow you can either go two ways you can either start knocking on doors you can go out there and start referring friends and family you can start you know cold calling random people or you can just literally build out an acquisition Channel or go to a lead vendor that has your target audience and you just basically have to find them call them and close them now everything that I'm doing is sitting in this chair using my cell phone I get my leads I come in and I just call them which I'll talk about here in a second but first thing I want to jump into is my screen here and share with you a little bit about how I am actually generating leads as well as getting clients on Facebook one of the biggest things that took me a while to understand but once you can understand no matter like whatever your acquisition channel is if you want to control your marketing then you can use Facebook it's a simple way that you can start you know generating your own leads so let's jump into my Facebook dashboard here and as you can see I'm going to just try to go into my dashboard here now okay we're going to refresh and as you can see right here live inside of my campaign ads managers so for today my campaign is running it's a final expense lead ad basically Dynamic creative is what I'm running and my ad is currently active now the results for today you can see I've generated 11 leads I've reached about 1200 people so far and I'm getting my leads right now for 2.81 cents now what type of leads are you getting so literally the copy that I'm running and an ad that you're going to be seeing here is there's two types of leads that I'm running number one is an ad they're all the same images all the same copy but there's two different forms that I'm acquiring number one is this a basic lead form where they're giving me the beneficiary name you know the amount of coverage they want the first name their last name the email as well as the state and address that they're living in so that's another one lady that I'm getting as well as a medium funnel so basically it's a way for me to have the same images the same copy without putting a lot of you know steps in to acquire the customer at a cheaper rate for example I'm actually generating the higher funnel or high higher ticket lead right now at a dollar and 59 cents with a daily ad budget of the thirty dollars and my other funnel the higher intent which is running at 50 right now per day so about eighty dollars right now has been well what have I spent so far I've spent thirty dollars so far to acquire 11 on Facebook leads now the most important is how do you actually work decently so the Facebook stuff has been working for me I simply picked one Avenue one channel that I focus on spending a lot of my dollars as well as I'm using YouTube ads as well but it's a little bit more complex but basically all my self-generation if you want to make ten thousand dollars a month it's just find one way to acquire the customer whether it's the lead vendor or self-generating on Facebook no matter what it is just pick and run with it now the second thing I want to share with you is you know what do I actually do the system that I Implement in my business that allow me to extract value allow me to you know connect with these clients both they don't to the phone is Then I then run them through a CRM the one thing I want to share with you too is that I'm also getting clients that actually book on my calendar so as we'll see I'll jump to the let's say the 20th here we had all these clients that actually reached out to me went through my funnel clicked on my ad and then booked an appointment with me now with final expense or if you're doing any type of marketing you'll understand that appointments are not always the best way to get really qualified leads they'll help go through different steps to understand that they are qualified but it does not mean that that's going to show up especially if you're doing telesale so just another little game strategy that I use is have the ad running and then take them to a landing page and then push them over to your Google calendar where you can actually start getting more higher intent because they want to meet with you and most importantly if they're in their area you can door knock them but I'm running multiple different states so that's what the lead generation side but the second thing is building out campaigns on the CRM that I use as a CRM called ringy no matter what you're doing if you're personally buying leads or you're personally you know calling leads does it have a way to keep track your release but most importantly how can you extract the most amount of value out of your leads so when the leads come in they come into my CRM and then I send them an initial text message the text message might say something like you know hey Peter just so that you recently fill out the form on Facebook or YouTube Just wanted to verify that you were the correct person you know that we were speaking to um and then they'll say like yes and then you'll start messaging them but if they don't hear from you here's a little tip on how I'm able to sell an extra three to five thousand dollars a premium every week is simply using a drip campaign now I never really knew what that was but there's follow-up drip messages that actually can go to your clients for example if you don't hear from them in two days here it's gonna send them a message and then if they don't respond to that message uh three days later they're gonna get another message and then five days later up to seven nine thirteen and then lastly 15 days in the line after becoming your initial lead they are going to hear from you until that person tells you stop contacting me I already I don't need life insurance and this is going to be a great way for you to retarget and re-continue to engage with these clients because they filled out the form they put their beneficiary name they want the life insurance you just gotta catch them at the right time so through that strategy I generally personally number one is understand what your product that you actually are selling your selling term you know who are you selling that term to nurses doctors are you selling mortgage protection to a specific Niche and then for me I'm selling you know basically Elders older people at age 50 to 75 burial coverage or whole life coverage which allows them basically all the same product they want to make sure that at the end of the day something happens to them that their family um will be protected and doesn't have to pay for their burial so that's the first way the second one the Third Way and the fourth thing that I'll jump into is actually how to sell the map behind how to hit ten thousand dollars per month basically my strategy and simply that I know that I can acquire a customer at 700 to 800 per client so what I need to do is I need to spend anywhere from fifty to a hundred dollars every day on Facebook to acquire one to three clients if I can do two clients every day which will bring my premium around 1600 and I work six days a week so I work 1600 times six days I come around nine thousand six hundred dollars in submitted business and you're always gonna have less or more but it's a simple metrics if I'm working six days I just need to sell two clients every day then I'm able to hit the metric of closing ten thousand dollars of business every week with my funnel with my drip with my consistency model I've been able to do that every day you know for the past you know 20 so weeks and always been able to close over ten thousand dollars worth of business so what I want to share with you is the last closing steps of if you want to sell from home if you want to sell here you have to understand how to become the best insurance agent on the phone what people don't want is they don't want someone who's going to scam them people are very scared that you might not be helping them and they don't want to be speaking to someone that does not know what they're talking about so the question that I ask you and that you must understand is that you're not making the money that you want to be making doing sell sales or selling life insurance you just need to ask yourself are you you know at a skill level both with your communication your art of persuasion your influence to help move people past the purchase and when you can influence people through the right you know tonalities the right communication skills and you can ask the right questions you can start closing a lot more business but a lot of people struggle with the insurance business because they get the leads you know they have the system but they don't know how to close when it comes to closing you have to ask yourself would you buy insurance from you and if the answer is no then why would someone want to buy insurance from you so in order to change your bank account or to change your wallet you must develop the skills that will allow you to have the ability to communicate persuade influence a market to make ten fifteen twenty thousand dollars every month so that is step by step the exact thing that I focus on is buying enough leads number one having 10 to 25 minimum leads every day hitting my daily marketing budget acquiring from one type of source if it's either out either from you know buying from a lead vendor or generating yourself it does not matter and then third is learn learning the skill of sales and then using systems in your business where they can actually drip as well as text automate where you're getting more engagements more pickup rates and then presentations the last thing I want to share with you is that if you want to hit your sales goals you must need to be presented presenting to an x amount of people understand if I present to seven people every day I'll close two clients if I present the three clients every day I'll close one client no matter what your acquisition strategy is you have to be very in tune with your metrics so you can sit back and say hey all I need to do today is call file you know 20 people and I'm going to get five presentations or a call this amount of people I need to make 300 calls my biggest goal is I need presentations because I know that my numbers will work out in the law of numbers and I'll close two to three people every day where I can make ten thousand dollars every week so I'm not here to sit back and say hey if you want to make money insurance it's going to be easy you have to do the work you have to learn systems and you most importantly have to get really good at sales and that's what I've been able to develop that's what I want to help you develop so if you need anything reach out but most importantly that's how I do it week in week out and how I've been able to submit over 265 000 of business in the last you know five months so if you want to learn feel free to reach me out I'm I'm more importantly don't want to recruit you so I just want to help you win guide you and hopefully be a resource to help you change your bank account and when in whatever Insurance business you're doing you don't need to go out to people's house you don't need to start knocking on doors if you get good with your phone and your word you can start closing a ton of business all from your office or from your desk all from your bed wherever you work and I know it'll work but love you guys so much hope this video brought some value if you want more comment below and I hope you go out there and crush it selling life insurance whether it's any type of a product become the best in your field become that person that everyone wants to buy live insurance from and become the person who serves your clients the best to get referrals to grow your business naturally and win in the end love you guys I'll see in the next one take care cheers
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