Are you planning on selling annuities to your potential customers? Well, so are 1.2 million other professionals in the insurance industry. And when you sell these products, you need to do it consistently to become successful.
While you might get a small salary to get you started, you have to make decent commissions to earn a living from selling insurance. The median income of an insurance sales agent is about $39,000. But some people make $65,000 or more. If you want to be ahead of the competition, you need to sell more.
Here are strategies you can use to sell annuities successfully:
1. Understand the product that you are selling
Today’s customers are smart. And they have plenty of online research tools at their disposal to find out information about the insurance products that they want. If you are an insurance agent intent on selling annuities on a large scale, you must know every aspect of your insurance product.
When their customers talk to you, they must feel that they are talking to an expert. You need to be able to answer all the questions that they ask you. Your knowledge will determine whether the people you are selling to feel assured enough to buy from you. So you must impress them with your expertise.
2. Network with other insurance agents
It seems counterproductive to network with other insurance agents within your sector, but it isn’t. While you can sell annuities, other professionals you network with might sell something else. For example, they could be selling health insurance. Networking enables you to form business relationships that will be useful to your career in the future.
If you impress other agents that you meet in networking events, they might think of you when they encounter potential clients who want annuities. And you could refer potential clients who want the kind of insurance that they sell. This kind of mutual referral system can boost your business. It enables you to widen your client base and sell your annuities to people you might have never met on your own.
So don’t be afraid of working with people in your industry. If you trust your product because it is good, then your passion will help you sell it.
3. Position yourself as an authority in your locale
You need to position yourself as an insurance agent who is an authority on the subject of annuities. Doing so creates more awareness of who you are and what your product is. There are many ways to enhance your standing in the industry.
You could choose to write a book on the subject of annuities as a guide for potential clients. An agent who is an author is more reputable than one who isn’t. You can also contribute to local radio and podcast programs on insurance subjects. If a reporter in your locale asks for quotes from professionals in your industry, don’t hesitate to volunteer some of your expertise.
Any media appearances and mentions improve people’s perception of you as an authority. That makes you more famous and trustworthy. So when people are thinking of buying annuities, yours will be the first name that comes to mind.
Overall, selling annuities does not have to be complicated. With the right strategies, you can increase your customer base, sell more insurance products, and raise your income. So, use all the research and marketing tools at your disposal to start building an insurance business empire.
