Top 6 Business Intelligence Mistakes to Avoid (Part 2 of 2)

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

iStock_000008669552XSmallHere is the second part of our guide of the most common mistakes insurance sales people make when managing business intelligence.

4) Failing to Nurture a “Colder” Potential Prospect – Too many insurance salespeople only make a half-hearted attempt to nurture their potential prospects and then are surprised when even after months, very few of them pan out. The fact is that potential prospects need to be nurtured. Difficult economic times slow buying decisions, especially in the corporate world. Those decisions will be made eventually, however, and unless you have had the patience to stick around and form a relationship with your lukewarm potential prospects, you lose out to someone else when they become red hot again.

5) Chasing the Same Potential Prospects as Everyone Else All the Time – Yes, the insurance industry is a highly competitive one and there are bound to be plenty of occasions when you and a rival are chasing the same prospect. Do not let it become your only strategy. Make the investment in exclusive business intelligence and you can get on with the business of making the sale without having to worry about which of your competition your prospect is meeting with next.

6) Buying Leads from a Generalist Lead Generation Firm – In order to get the most bang for your buck, don’t waste your money on lead generation services. Only rely on voice-verified business intelligence from a company that understands and deals with your particular niche. Selling corporate insurance is very different from selling insurance to a small family down the block. The new business strategy should be very different. If an insurance lead generation company tells you that they provide leads for both individual and corporate sales, be wary – these “Jack of all Trades” brokers tend to be master of none.

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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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