MATTHEWS, N.C., May 23, 2013 /PRNewswire/ -- The conventional wisdom in life insurance sales is that agents must buy leads or sell to friends and family to get their business off the ground. According to The Life Insurance Marketing Center CEO Matthew Gillogly, neither of these approaches is likely to be sustainable. Instead, Gillogly recommends an alternative strategy for lead generation and sales that he has dubbed "Heisman Selling," which involves building personal credibility and establishing expert status through calculated use of the media. With the Heisman Selling approach, agents can create a sturdier foundation for their business and avoid the trap of competing on price alone.
"Conventional wisdom is exactly that: conventional. And in the fast-paced and evolving world of insurance sales, conventionality is the breakdown lane," remarks Gillogly. "I quickly discovered that there were better ways to grow my business. Through effective use of the media, it's possible to create an aura of credibility and respect that distinguishes you from the crowd. Instead of chasing down leads, the best salespeople (those with the most credibility) have leads chasing them. That's the goal of Heisman Selling."
Lead buying and selling to friends and family both present a host of drawbacks. In Gillogly's experience, purchased leads go nowhere, either because they have no money or because a dozen other agents have already made their pitch. The downside of selling to friends and family is obvious: it just feels unsavory. Both of these strategies also share the pitfall of encouraging competition on price. In life insurance sales, competing on price alone earns an express trip to the bargain basement and eventually disillusionment with the whole enterprise.
As an antidote to these traditional but tired approaches to life insurance sales, Gillogly recommends his Heisman Selling approach. In particular, he identifies books and radio as two forms of media that can be particularly effective in building a reputation as a thought leader. Today's Internet radio has zero cost of entry and provides an unmatched opportunity to arrange a meeting with virtually anybody. Business owners who are too busy to return a phone call are suddenly responsive to the idea of appearing on the air. These on-air meetings offer an opportunity to tap into entire networks of potential prospects.
Books are similarly an effective tool to establish authority and credibility. Gillogly describes how writing a book takes a person out of the realm of mere sales and into "expert" territory. As an expert, an insurance salesperson can legitimately charge higher rates and stop battling with low-priced providers. Instead of selling commodities, experts sell knowledge, which is always at a premium.
With the splintering of modern media between Internet, print, TV and radio, Gillogly encourages life insurance salespeople to spread their net as wide as possible. A modest upfront investment is all that's required to begin laying the groundwork for a sustainable, successful life insurance sales business.
Among the free resources available on The Life Insurance Marketing Center is the 30-Minute Marketing Tune Up. To learn more, visit www.thelimarketingcenter.com.
About The Life Insurance Marketing Center
Matt Gillogly created The Life Insurance Marketing Center to share his unique insights and innovations. The site features a wealth of resources for insurance agents, which together address the essential aspects of building a sustainable business: increasing customer volume, increasing lifetime value and improving marketing efficiency.
The Life Insurance Marketing Center
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SOURCE The Life Insurance Marketing Center