Even with all of the insurance web marketing methods available to generate insurance leads, many brokers and agents still leverage the traditional cold call to set up appointments with prospects. While it can be challenging for many agents, cold calling can still be an effective tool to contact and validate potential insurance leads.
You can combine the old and the new by utilizing both innovative online techniques and B2B cold calling to build your book of business. Some would refer to this as “warm calls,” because the prospects are familiar with the agency, as they've been receiving information via email or social media prior to the call. But, for the purposes of this blog, let's refer to this initiative as a cold calling or appointment setting initiative.
Develop a target list or subscribe to a list service
There are many list services and specialty list providers available to agents and brokers, such as Judy Diamond for group benefits to the more generic D&B, Hoovers and InfoUSA for general agencies. The goal, however, for all agencies and brokers is to create a comprehensive suspect email list with all associated demographics, by market, region, company size and title.
Cold calling tips
Begin by determining the number of prospects you need each month to achieve the desired number of new clients. For example, if you need eight new prospects appointments each month, and you can set up an appointment every 4 hours of calling, you'll need to spend 32 hours calling each month to generate these eight appointments.
If your close ratio is 25%, you'll add two new clients each month, once the initiative is in full swing. Many agencies and brokers lack the time to do their own cold calling, in the scenario above, that would be a solid eight hours each week.
In these cases, they can outsource the initiative to an insurance agency marketing and lead generation organization. For those agencies and brokers which have time to do their own calls, here are a few tips that will help agents get the most out of their cold calling:
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Thursday is the best day for contacting and validating leads.
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Wednesday is the second best day for contacting and validating leads.
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Tuesday is the worst day for cold calling.
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On average, 8-9 a.m. is an optimum time to reach prospects.
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And 4-6 p.m. is also a good time to reach and validate prospects.
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Have a well-rehearsed script with a clear call to action for all outbound calls.
Don't underestimate the power of cold calling (or better yet “warm calling”) to generate appointments and insurance leads.
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