Insurance Prospect Scorecard & Marketing Books

Prospect Scorecard & Marketing Books

The Prospect Scorecard offers insurance agencies and producers a simple and easy way to qualify, track and rank their best prospects. Agency owners, principals, producers, and sales managers often refer to prospects in vague terms such as: warm, hot, cold, likely, qualified, etc.

These terms are vague and do not help stakeholders understand their sales pipeline or convey the likelihood of purchase. The Prospect Scorecard resolves this issue, simply, quickly and easily for any producer or agency.
  • Helps you create ideal attributes to form your buyer personas

  • Showcase your professionalism and expertise

  • Assigns numeric values to rank your best prospects

  • Create a simple qualification acronym to determine likelihood to close

  • Rank your prospects alphabetically, by Prospect Score and Quality Score

Best of all, you can get your complementary template here:
Prospect Scorecard
Buyer Persona – What does your perfect client look like? Create a Prospect Scorecard and Buyer Persona to quantify your approach to pipeline building. Some attributes of your ideal client might include revenue, growth rate, client type (business or consumer) and market niche. For example, are you targeting companies with $5m to $10m in revenue? Are your best prospects fast-growing firms (Inc. 500 list)? Are you selling to consumers?

A buyer persona is a composite representation of your ideal customer based upon existing client profiles, preferred prospect profiles and market research. The profile should include demographics, personal and business attributes, and behaviors that are typical of your ideal prospect. Your buyer personas should be a one or two paragraph written description of your ideal buyer. For example:
“Jerry Jones is a CEO, CFO, COO or Risk Manager who works at a distribution company between $15 million and $150 million dollars. He has at least a decade of experience and has been in his current position at least one year. His goal is to improve efficiency and refine processes within his company, which will contribute to bottom line savings. He is a consensus builder, but knows how to drive change, and has the credibility within his organization to implement a new initiative or allocate budget.”
“Gina Martinez is a CHRO, Vice President or Direct of Human Resources, with a manufacturer, distributor, technology company or restaurant group. Revenues can range from $5 million to $150 million dollars depending on industry. She has at least a decade of experience and has been in her current position at least one year. Her goal is to improve employee morale, increase wellness programs, ensure compliance and maintain competitive benefits programs. She is open to change, and will consider innovative approaches to this including captives, gap programs, leading edge tools and PBM alternatives.”

Creating an insurance agency buyer persona will help improve producer prospecting and closing, resulting in a leaner pipeline and improved close ratio. And buyer personas are also helpful when agencies outsource their appointment setting initiatives. If your agency has not yet created buyer personas, or if you haven’t updated them for a few years, take the time to revisit this important exercise.
StartUpSelling Books
Sell More & Work Less Excerpt – Web Selling Techniques Everyone Should Use:Tip 29 Use the 1/10th of 1 Percent Sales Price Rule or Create Your Own: Let’s say you’re selling a survey research service costing $10,000. Does the dollar amount represent a small or large investment for your prospects? One way to answer the question is to use the 1/10th of 1 percent rule. I created this metric for many of the solutions I represented over the years and it was both simple and helpful. If your company is trying to sell a $10,000 solution to a prospect which has $1 million in annual revenues, your solution would cost them 1 percent of their revenues. That’s a fairly significant number to them, one which is likely to require scrutiny, perhaps requiring the CEO to sign off on the purchase.
Your Virtual Success Excerpt – I Brushed the Sand Off My Suit My days began abruptly at 5:45am with a loud blast of music from the clock radio on the dresser. I would shower, shave, and put on a suit, shirt and requisite tie. If there was time, I’d eat a bowl of cereal, pour some coffee in my travel mug and head out the door at 6:45am. If I was lucky, 45 minutes later I would pull into the parking lot at 7:30am. Assuming I had the customary and usual reports, meetings, conference calls and email threads, I would get back in my car around 6:30pm, and arrive home around 7:15pm. I would repeat this routine five days a week, except on travel days when I’d get up at 4:30am to make a 7am flight. These were extended hour days which often exceeded 16 hours before settling down at my non-descript business hotel. Now let’s fast forward to a better, more recent workday.

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