Presented by John Schraut
Most producers are constantly looking for a new, unbeatable, inexhaustible source of prospects. What they may not realize is that they already have this prospecting source. There is an often overlooked source of new business right at the producer’s fingertips that doesn’t depend on magic spells and hocus-pocus. It promises an endless chain of new business, repeat business and referrals from prospects already on a first name basis with the producer.
The best source of business is repeat business. Translation: get out and see your existing clientele every year whether there is an obvious need or not. Statistics tell us that the average American will buy life insurance 7 or 8 times in a lifetime. That doesn’t consider other products like disability income, long term care, and annuities. The producer who postpones a call on a client for more than twelve months may find another producer’s business card stuck on the client’s refrigerator when he finally does call back.
This is how I got started in the insurance business. I started finding that many clients didn’t have contingency beneficiaries, and so I made appointments to see them. We solved the problem and built rapport. This made customers feel like I was a friend not a salesman. In turn, this resulted in referrals.