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How to Earn $1 Million in Insurance Commissions

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Learn how to achieve financial success in insurance.

Whatever the industry you’re in, it’s important to have a desire for the work. A passion will fuel any employee on any day, and that can mean the difference between success and somewhat contentment. When you think about some of the biggest names of any business – Warren Buffet, Elon Musk, Mark Zuckerberg – success and achievement are not about the money. In fact, it’s about the mission and excelling their unique ability to do more and do better.

If you are looking to do better in insurance, you have come to the right place. If you want to earn $1 million in insurance commissions, you will have to think outside the box. Getting to that figure means writing 10,000 policies at $100 commission each or 10 accounts at $100,000 commission each. There is no right or wrong answer. What many insurance agents fail to do is make a plan. Instead, they begin each day working on their existing book and taking whatever comes along. In general, this doesn’t yield astounding results.

Your commission book must net a minimum 30 percent profit in order to authenticate its value. If you don’t know your book’s profit margin, just ask your agency owner or division leader to advise you. It’s important to understand the profitability of the book you’re producing so that you know where to improve.

It takes confidence and intelligence to earn $1,000,000 in commission sales – and lots of it. You will need to connect effectively with people at any organization level. Confidence increases as we educate ourselves in insurance, technology, and all matters that will help increase the value of our client’s business. Not only that, but emotional intelligence helps us to read others and think wisely about our next move. People who think about what their client wants rather than reacting as a habit are innovate and can achieve worthy goals.

Insurance is the perfect industry for professionals who love a challenge and have a deep need for significant and contribution. Mike and our Unstoppable Profit Producer program teamwork with hundreds of Independent Insurance Agency owners all over the United States.  The focus of the program is that you will learn to grow your business,  create financial wealth and security for your family and have more freedom to enjoy life on your terms!

If you would like to learn more about the benefits of the Unstoppable Profit Producer Program and how it can help you, please schedule your Agency Profit Consultation today!

Interesting Trivia About the Insurance Industry

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Did you know these interesting facts about the insurance industry?

When most people think of insurance, they think about stale documents that are monotonous and dreary to read. However, this is simply not the case. The insurance industry can be exciting and interesting, and still has the ability to fascinate customers and independent insurance agents alike. Here are a few facts about the industry that you may not have known.

Starbucks pays more for employee health insurance than it pays for coffee.

  • The very first insurance contract was signed in 1347.
  • The Amish believed that insurance meant they had no trust in God and they saw it the same way with Social Security as well, so they would accept no Social Security benefits or any insurance policies.
  • The Netherlands happens to be the only country that has a law of health insurance being compulsory for everyone. However, the premium costs are not charged via age groups or your health status.
  • Sony sells electronics and has become well known for this, but the insurance division is their biggest source of their profits.
  • No insurance company will underwrite Jackie Chan’s productions. He personally trains his own stuntmen and pays their medical bills out of his own pocket.
  • There is a mandatory coverage that 21 states have that is specially for uninsured motorcycle drivers.
  • Make sure when you sell your car to someone that you transfer the names as soon as possible otherwise you are still responsible for the car even if the new driver was driving the car at the time.
  • American’s insurance history predates the American revolution.

We love working with the insurance industry and its professionals. Mike and our Unstoppable Profit Producer program teamwork with hundreds of Independent Insurance Agency owners all over the United States.  The focus of the program is that you will learn to grow your business,  create financial wealth and security for your family and have more freedom to enjoy life on your terms!

If you would like to learn more about the benefits of the Unstoppable Profit Producer Program and how it can help you, please schedule your Agency Profit Consultation today!

What Type of Client Experience Are You Delivering?

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Customer experience is at the pulse of every insurance agency.

Customer experience is how customers perceive their interactions with your company. In today’s society, consumer expectations are high, and word of mouth travels fast. Purchasers are empowered like never before, and great client experience drives loyalty and revenue. Neglecting customer experience is no longer an option for businesses, especially as the voice of the customer continues to get louder and louder.

It used to be that customers could communicate with companies in one of three ways: they could visit the business’s office, write a letter or call customer support. Next came faxing and email. Today, there are even more ways customers can connect with businesses – they can use Twitter, Facebook, WhatsApp, Instagram, Snapchat, web chat and more. When customers do connect with you, they expect to be known and served on demand, regardless of the channel they are using.

To retain your client base, customer service is extremely important. Remember that to the customer, your agency is one big team. They don’t care which department they talk to when they need help – they just want to get their questions answered and problems resolved. When your team can’t work together seamlessly, and the client notices this breakdown in communication, it frustrates them. It can be extremely tiresome to be passed from one department to the next and can leave a sour taste in the client’s mouth if they feel they are being neglected.

For clients, all interactions and data should be stored in one place. If they interact on a web chat with one representative, notes should be saved about the conversation. If they pick up the phone next time and call your agency, the agent on the other end should be able to see their previous concerns from a web chat. Even though the interactions came across different channels, the person currently interacting with the customer must see them as one long conversation.

Mike and our Unstoppable Profit Producer program teamwork with hundreds of Independent Insurance Agency owners all over the United States.  The focus of the program is that you will learn to grow your business,  create financial wealth and security for your family and have more freedom to enjoy life on your terms!

If you would like to learn more about the benefits of the Unstoppable Profit Producer Program and how it can help you, please schedule your Agency Profit Consultation today!

4 Habits of Highly Effective Agents

Habits of Highly Effective Agents

How these habits can make successful insurance agents.

Whether you’re new to the job or a veteran salesperson at an insurance agency, one thing is for sure: You never can have enough tools in the toolbox. Sales is a tough business. You need to know the industry, product, and audience backwards and forwards. Here are just a few habits that most effective insurance agents do on a regular basis.

They stay organized.

The most effective agents plan their days meticulously. It’s a good idea to set aside time each day for returning phone calls, prospecting, making outreach calls, and meeting with clients.

They have a follow-up process.

A well-thought-out follow-up process is key. It needs to be effective without being annoying. It may take a few trials and errors, but make sure you have a process. 

They work harder and longer than most.

They not only work harder and longer, they actually relish the fact they do. They get way more done than anyone else in their field, and this is why they succeed. They have an extreme focus on selected critical elements and have a depth of knowledge on their key subjects.

They provide exceptional service.

The most successful insurance professionals provide impeccable customer service and strive to go above and beyond for their customers. This builds value for clients and can turn them into lifelong customers.

To learn more about how to be successful, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that can help you work less, earn more, and enjoy life!

Tips to Motivate Your Team Members

Tips to Motivate Your Team Members

Build a work environment that is infused with motivation and fun. 

Most people are only driven when they are motivated. In professional sales, motivation can be the key to generating lots of sales (and revenue) for the company. Whether your team members have been in sales for one year or ten, all of them need a certain motivation to achieve their goals. To help get your insurance agency team motivated to sell more policies, check out these tips.

Reinforce the company mission and vision.

Sometimes, your team needs a jolt of motivation to boost morale and persist. Your company’s mission and values shouldn’t be overlooked in this case. Reinforce why your company does what it does and how your sales team is contributing to the good work. When your team believes in your company, they are more likely to want to see it succeed.

Create a sales contest.

A little friendly competition never hurt anyone. Get a large whiteboard for the team members to track their sales and goals. Set a designated prize such as a vacation day or a physical item. Make sure the prize is compelling enough to inspire the team to do well.

Offer flexibility.

By offering flexibility, such as the opportunity to work from home, you can motivate your team instantly. You can even let them come into the office early and leave early – whatever works well for them and your business. This flexibility and generous act enable your salespeople to perform when they’re at their best, as well as increasing the agency’s revenue and morale. This can also be a good way for management to establish trust with members of the sales team.

A lot of the time, it’s the little things you do that set you apart from your competitors. People start talking about your organization, how you treat your employees like family, how you genuinely try to help people, and how you strive to treat other people like you want to be treated.

To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.

Avoid These Mistakes That Perpetuate the Myth That All Insurance Agents Are the Same

Avoid These Mistakes That Perpetuate the Myth That All Insurance Agents Are the Same

Stand out from the crowd by avoiding these common errors.

As an insurance agent, you will know that the industry is full of hot competition. You want your services to stand out from the crowd so that you can attract more clients. But how exactly do you go about that? To get started, avoid making these mistakes that perpetuate the myth that all insurance agents are the same.

  • Not thinking outside of the box

When an insurance agent thinks of promotional material, the first thought is often to make low-budget promotional videos and plaster their agency on signs and benches. But before you make all those common marketing mishaps, think twice. We are moving towards dominant digital marketing, so consider making digital ads that are clean and concise.

  • Not highlighting your services

Do you do anything different than most insurance agents and agencies? If so, let your followers and fans know! If you have particularly good reviews and referrals, make sure to share them on your site and social media. People like to know what they’re getting out of a service so be sure to highlight that.

  • Not leveraging reviews

Most people view insurance agents as the same. However, if they see that your agency has reviews from real clients, they are more inclined to pay attention. Reviews give more depth to your agency as people see you as a person rather than just another service provider. Make sure to ask for referrals from your clients so that you have a nice accumulation of reviews.

To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.

 

Should You Use Email or Send Snail Mail?

Should You Use Email or Send Snail Mail?

Determine if your agency should consider sending messages via email or snail mail.  

It’s undeniable that technology has changed the direct marketing industry. However, it has not irreparably damaged direct mail marketing. In fact, insurance agencies who use both methods often generate surprisingly good results. In marketing, any time you can differentiate yourself, that’s a very good thing. When every other agency is sending out emails, if you send an attractive, 4-color printed piece via snail mail, something they can hold and study, that can have tremendous selling power.

Snail mail is a great way to capture clients’ and prospective clients’ attention. A physical letter or flyer is something they can put on their desk or kitchen counter and look at time and time again. This not only reinforces your brand image, but it helps to remind them to visit you online. Many of today’s emails get deleted even before they are opened, whereas a physical letter is something that you can ensure your prospect will see.

Believe it or not, but Generation X are worth pursuing, as they want to move up and have the financial power to better protect themselves and their assets. Right behind them, we suggest you go after baby boomers. More than half of the members of Generation X and nearly 60 percent of baby boomers say that direct mail influences their buying and service provider decisions. Although you may think it’s an old school marketing method, snail mail can come out on top time and time again.

To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.

Personalized Gifts to Wow Your Clients

Personalized Gifts to Wow Your Clients

Take a look at these gift ideas that will impress your clients.

They say a small gesture goes a long way. This is especially true when you work in insurance and are looking to retain the clients you have. A small token of appreciation shows that you value your client and reminds them that you offer them a great deal of value. Take a look at some of these personalized gifts that will wow your clients.

  • Terrarium or Succulent Garden
  • A Charity Donation
  • Professional Notebooks
  • Coffee or Tea Blends
  • Calendars
  • Coffee Table Book
  • Toiletry Bag
  • Gourmet Food Basket
  • Portable Phone Charger
  • K-Cup Coffee Sampler
  • Kindle
  • Custom Water Bottle
  • Online Classes
  • Bakery Delivery
  • A Handwritten Note

To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.

Insurance Producers – Check Out These Challenges to Overcome

Insurance Producers – Check Out These Challenges to Overcome

Hurdles to overcome when selling insurance.

Selling insurance is no walk in the park. Insurance companies often face difficulties when trying to attract and retain customers. One of the main reasons for this is simply because people hate researching, buying, and paying for insurance. To help you, as an insurance salesperson, understand what challenges you face and how to overcome them, read on.

Consumers don’t understand the value of insurance.

Studies have shown that consumers don’t understand even the most basic insurance language, nor do they have a clear understanding of how to choose a plan that’s right for them. Millennials are buying less insurance than any other generation, and many don’t understand the value of taking out a policy. It’s important to drive home the importance of insurance and what it can do for the consumer. Otherwise, they will be none the wiser, and saddled with the right coverage.

Consumers have different communication preferences.

It’s typical for many insurance agencies to assume that younger consumers prefer online communication, and older consumers prefer phone or in-person consultations. Unfortunately, however, it’s not that simple. Insurance companies should ensure they are communicating with clients in their preferred manner. Not only does this help your communications get seen by the client, but it shows initiative on your part to do right by them.

To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.

Tips to Hire Right for Your Culture

Tips to Hire Right for Your Culture

Looking to hire? Consider these tips to find the right match.

As a business owner, you know that your team makes your company. They drive the business, make sales, and are the heart of a business. This means that there is pressure to find the right employees to suit your business. Not only do they have to have all the qualifications on paper, but they need to mesh well with your company’s culture. Having a clear and solid culture allows your business to function better. So, how do you select the right people?

Here are some tips to help!

  • At the start of the first interview, ask the candidate what specifically draws them to your company. This is an easy way to work out which candidates haven’t done their homework. The best candidate will go as far as reflecting on your core values.
  • Look beyond why they would be a good fit. Think about potential reasons why they wouldn’t suit your company culture and how that would be managed.
  • Ask each candidate to submit a two-minute video explaining why they would be a good fit. Don’t give any more direction than that. The candidate will, hopefully, let their personality shine through with the freedom.
  • Ask the candidate to rate themselves from 0-5 and then explain their score on such traits as servant leadership, positive energy, teamwork, and a self-starter.
  • Tailor questions to suit your unique company, including core values and standard practices. This will help to narrow down if the candidate suits your

These tips can help you narrow down your search in finding someone suitable for your agency. To learn more about how to be successful in your business, contact Mike Stromsoe’s Unstoppable Profit Producer Program. We can offer guidance, helping you perfect your professional posture. We also offer a premier wealth creation program that helps you to work less, earn more, and enjoy life.