The Importance of the Long Term

Filed in Articles, Blog by on February 10, 2013 0 Comments

When it comes to insurance business intelligence reports, most busy brokers and insurance salespeople prefer quick returns. Ideally, they want the business intelligence reports they are purchasing and pursuing to connect them to ready and willing prospects. All that a broker then needs to do is walk into the prospect’s office, give their pitch and close the deal. End of story, move on to the next one.

These short-term potential prospects are beneficial, but overlooking the potential of long-term prospects, and failing to nurture them to the best of your abilities is a huge and costly mistake.

The fact is, that while some insurance sales professionals concentrate their efforts on chasing those prospects who want to buy now; the best insurance sales professionals concentrate on those who will have a need in the future, just not yet.

For example, a human resources manager begins researching her options for a new employee health plan a full six months before she will be in position to buy a new one. As a part of her research, she submits her contact details in several different places. When her details are shared as a business intelligence report, she is still a potential prospect but not a quick-sale. She will be making the decision on a new health plan, she will have the funds to do so available to her, and she is not just quite ready yet.

At this point, some insurance salespeople may leave her with a brochure or two and tell her to contact them when she is ready. They walk away, a little miffed because the sale didn’t pan out after all. A savvier insurance sales professional will do things a little differently.

These “long-term leads” often produce the best business. By occasionally reminding prospects (like this HR manager) to keep the company in mind, is a function of sustained pipeline generation. Relationship nurturing is the mark of a good insurance salesperson. If an insurance salesperson can master this art, they often find that these long-term potential prospects become some of their best, and most loyal, clients of all. This is thanks to a relationship that was forged long before any deal was struck.

About the Author ()

John is the VP of Business Development at The PT Services Group. He researches new types of business and manages and initiates strategic, corporate-level relationships to expand exposure for The PT Services Group. John came to The PT Services Group in 2011. Before that, he owned and operated an Ameriprise Financial Services franchise for 16 years.

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