Contacting prospects is a lot harder than it used to be.
It took 3.7 calls to reach a buyer in 2007, but as many as 8 in 2014
Whilst this isn't specific to insurance brokers, this means to generate new business commercial insurance brokers must explore using multiple channels to find leads. One of the most effective ways to do this is via social selling.
78% of sales people using social media outsell their peers
Social media such as LinkedIn has become a critical tool in developing a sales pipeline. We are all spending more time online and that includes customers for insurance products. If used effectively, social media can boost your personal brand and create well-qualified sales leads, without having to pitch for business. This is known as social selling.
Below are three tips to kickstart your social selling campaign.
Social selling leaders have 45% more sales opportunities
Research online data to understand customers’ businesses and motivations, then use it to deliver content and tips to help their businesses succeed. This is known as thought leadership. It allows you to generate and engage with leads online using an entirely new avenue that is currently untapped in the insurance industry.
LinkedIn has created an index to rank users on social selling. This is known as a Social Selling Index (or “SSI”), the SSI is provided at no cost and is updated daily. It allows you to compare yourself against your peers and your industry.
The Social Selling Index is based on 4 main tenets:
This data is a great motivational tool and helps you focus on the actions which will support your sales goals.
Creating your professional brand means having a smart, high quality image and a compelling headline (think about what your clients would search for in Google and try and work this into your profile).
A bad one would be: Matt Smith, Insurance Broker
A good one would be: Matt Smith, Insurance broker specialised in Marine and Property Risk services, Cert CII
Finding the right people is not a numbers game. Identify decision makers within your prospect companies and connect with them via InMails. The more senior the connection, the higher your SSI score will be.
Engaging with insights gives you the opportunity to warm up your leads. A comment on a new piece of regulation in the relevant groups, liking a change of a job, or sharing an important piece of content, all increase the likelihood of your lead engaging with you.
Building strong relationships means connecting with people on LinkedIn after you meet them, connecting internally and engaging with senior leaders.
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