I’m concerned about some of the activity I see playing out among brokers and advisors with their online social activity. And I’d like to note that paradoxically this concern is actually a cause for celebration.
The insurance industry has two very distinct types of sales people. Back when health insurance was affordable, selling group policies was the norm for the benefits broker. As regulations and expenses have both risen to new heights, the ideas, advice, and outcomes employers need have also risen to new heights. And the way brokers and consultants work with clients must rise along with it.
LinkedIn is an amazing tool if you choose to take advantage of it in a way that can expand your network and open your mind to new ideas and educational opportunities. At Q4i, we’ve long felt that the power of LinkedIn was substantial, and as more people joined in and started to participate in a productive way, we felt that it would grow in importance and we’d all benefit from it.
Each year the insurance industry changes and shifts, sometimes incrementally and sometimes with greater intent and speed. The challenges and focus shift as needed to morph the agency business from a commoditized, product-selling relic of the past to a client-centered consulting/advisory firm of modern business.
Same as everyone, I receive a lot of emails. Many of them are unsolicited, which in itself isn’t necessarily a problem. People are trying to develop their businesses. I get that.
What is a problem though, is when senders use outright lies in the emails or become rude and harassing. I’ve been collecting examples so I can share the garbage approaches that people use to try and earn new business.
Erica Kiefer from AgencyBlocinterviewed me, asking how agency owners and agents can thrive, not just survive, in today's insurance industry and healthcare climate.A version of this article was originally published on their blog.
You hear it all the time – Change your agency! You’ll go the way of the Dodo bird if you don’t! You’ll have to sell your agency and work for someone else! You’ll lose your independence! Start making changes today to save yourself!
But is that actually good advice?
We watch insurance agencies make the craziest decisions about spending money. We see heavy spending and snap decisions regularly being made on a variety of software platforms, hiring internal marketing people, and buying client services (think value-added services).
What we also see are agencies frustrated with the lack of results from that come from this spending. It feels a bit like a money pit. And the way this spending takes place, it should!
Marketing in a New Era.
This is the subject line of an email I received from a benefits producer I correspond with occasionally. He replies to articles and brings up thoughtful questions, and then we have some back and forth exchanges. I want to share one with you that I felt was particularly relevant to our readers regarding insurance sales and marketing.
People don’t buy what you sell. They buy you and your ideas. And when all you talk about are your products, you’re losing potential buyers.