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5 Tips to Get Out of an Insurance Sales Slump

Mar 26, 2012 2 Minute Read

Just like in any other market, life insurance sales go up and down. As an insurance salesperson, you of course aim for more ups than downs, regardless of what the market is doing. So how can you increase your life insurance sales if you are in a bit of a slump? Follow these five insurance sales tips to get out of your slump and boost profits.

  1. Set realistic goals – If you don’t know what sales targets you need to hit, the ability or motivation to get there can be challenging. Set one or two long-term goals and define the short-term objectives you need to achieve them. It may seem like a simple step, but creating an achievable goal can mean the difference between floundering and focusing.
  2. Use an effective system – How many new sales calls do you make each day? How many calls do you make to follow up with leads? How much time do you dedicate to finding new prospects? Creating an effective system can help you stay on track so no part of the sales process will fall through the cracks. You can either create a new system that makes the most sense for you, or use one of the countless sales tools available. It doesn’t matter what system you use as long as it is effective for reaching your insurance sales goals.
  3. Buy life insurance leads – This is perhaps one of the most useful insurance sales tips. Purchasing insurance leads can save you a lot of time and money. You get all the information you need about a prospect that has already expressed an interest in life insurance. All you need to do is follow up and work your sales magic.
  4. Ask for referrals from existing clients – Nothing is more powerful than a satisfied customer. Asking your clients to recommend you to their friends and colleagues can help you get more than just a foot in the door; it may give you the bump you need to get out of your sales slump. Offering incentives for referrals can help you generate even more qualified leads.
  5. Improve your product line – If you have a proven record of sales success and are looking for an even bigger boost it may be time to explore additional products to sell. If you have sales experience and the motivation to succeed, you’ll have no trouble finding a good life insurance company with a quality product to sell.

Following these insurance sales tips can not only help you get out of a slump, they can help you dramatically increase your revenues, even in a slower market. Looking for more sales tips to get you out of a slump? Check out related articles right here on our blog!