How the Internet Changed My Business for the Better

I have been a life insurance agent for over 25 years, well before terms like "social media marketing" and "online marketing" ever existed.

To fully understand the major changes that have occurred in the sale of life insurance it's helpful to understand how salespeople used to train to market insurance. Briefly, make a list of the people you know, call them and ask them if they need insurance, or if they can refer anyone they know that might be interested in the purchase of coverage. End of story.

Agents that already had some business experience or who had access to a "warm" audience did better than most, and those inexperienced left with other agents taking over whatever policies had been written by people leaving the business.

My marketing plan consisted of buying leads from a company that had compiled lists of people buying or refinancing their home. The leads arrived about six weeks after homeowners mailed their card in for more information. By the time I received the card, they couldn’t even remember sending it.

So, what has changed since our connection to the "tubes"?

Plenty. And it's not necessarily what you think. Remember what I said about contacting those friends and relatives? Not anymore.

Today the internet has made prospects more knowledgeable about many purchases. In fact, someone interested in life insurance goes online for information, not for a list of local agents.

The most obvious change is that marketing to prospects is no longer the province of large companies with big advertising budgets.

The Internet not only expands my market dramatically, but it has other benefits not obvious to either an agent or a potential buyer of life insurance. Before the Internet, an agent would usually be a "jack or all trades." An appointment with a prospect usually occurred at home in the early evening which suited neither the agent nor his potential client, and usually left the client confused and afraid of being taken advantage of in his home. If the agent was successful in "selling" his prospect, the agent walked away with a signed application while the client had a feeling of relief at ending an uncomfortable meeting.

My particular niche is selling to seniors and baby boomers. Because I fit into both categories, I can identify with prospects and clients and establish rapport more easily than dealing with people without shared experience. For example, I specialize or senior life insurance over 80. The list goes on and I can use other websites to get a clear idea of what interests my niche, aside from life insurance and market to them in other ways.

Takeaway #1Because the pool of potential clients is so large today, the agent can specialize in a niche and become an expert in that area, which benefits both parties.

Takeaway #2Clients no longer have to make decisions without fully understanding what they purchase. In fact, almost every niche that exists has countless articles and information that can help them understand what questions to ask and how to make an intelligent decision without the need to be "sold."

Takeaway #3Insurance Agents, in general, become more educated about their market and make decisions based on the type of client they want to attract instead of using a shotgun approach.

As an agent, the Internet has turned me into a marketer. At its’ best, the Internet provides education and communication for both parties. Consumers now can judge the experience, knowledge and service an agent provides using numerous recommendation sites. They can compare prices in many instances, and tune into educational "webinars" with the click of a mouse