We are all familiar with the children’s story, The Goose That Laid the Golden Egg. We all know the moral of the story that it is better to possess the goose than the egg. The egg is just one, but if you owned the goose, you would have a supply of golden eggs. Is your business marketing plan geared to the goose or the egg? As an insurance agent do you spend your time looking for golden eggs or clients instead of looking for a goose referral source?
Many business owners, insurance agents and salespeople are focused on the golden egg. The marketing and advertising budget is geared to the end user. Even though we know we need a goose and not the golden egg. I have insurance agents in my insurance agency always wanting leads. Why I ask, do you want leads? The reply is someone in the market for my product. If that agent spent the same amount of time finding a goose (lead source) instead of a golden egg (lead), their business would explode.
For example, as a life insurance agent, we know most people are in the market for more life insurance or a change in life insurance at a life changing event. Such as a young couple getting married, birth of a child, death of a friend or family member or buying a new home. Certainly there are lots of lead companies out there that will sell an insurance agent leads based on this criteria. Problem is, you are not the only insurance agent buying that lead, so you and scores of your competitors are vying for that same prospect, usually ending badly, not to mention the cost of these insurance leads. How can I get the prospect, before they become an online lead for an insurance agent feeding frenzy?
Let’s go after the goose that lays golden eggs. If I know my four criteria, I need to pursue the lead sources. Now, I spend time building relationships with ministers performing weddings. Walking into and meeting with maternity shop owners, in order to meet pregnant clients. Building a relationship with a funeral director dealing with a grieving family member, who now realizes he or she is underinsured. Going out and making friends with some realtors and mortgage brokers in order to meet new home owners who probably need more life insurance protection. The idea is to stream a constant source of good referrals to your business to be sure it never stops growing.
Take a look at your business. Who are your best clients? What do they have in common? What would be a great referral source for you to find more of this type of client? When you answer these questions, then you have found your goose. Remember to always take good care of your Golden Goose once you find it! It is never good to have your goose cooked.
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Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger and team leader with over 25 years of experience in sales and marketing in the insurance and beverage industries.