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September 29, 2023 16 mins

As An Insurance Producer, Is Cold Calling Still A Viable Strategy To Grow My Book Of Business?

In this episode of The Preeminent Producer Podcast, we tackle this topic of cold calling and dealing with the fear of cold calling.

...

Are you a commercial insurance producer struggling to stand out from the competition? Do you find it challenging to grow your book of business and create a fulfilling career?

Then welcome to The Preeminent Producer Podcast! Each week, we'll be tackling important topics, sharing proven strategies and insights from successful producers that are in the trenches and have traveled the journey to becoming a Preeminent Producer.

You'll discover what it really takes to become Preeminent & build your book of business, in a way that isn’t being taught anywhere else. Our hosts are experts in the field and have built thriving businesses by becoming the most trusted adviser to their clients. Welcome to your journey to becoming a Preeminent Producer.

Let’s dive in!

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Is cold calling still a viable strategy in growing
your book of business as aninsurance producer?
That is the topic we are divinginto in this episode of the
Preeminent Producer Podcast.

Speaker 2 (00:13):
Are you a commercial insurance producer struggling to
stand out from the competition?
Do you find it challenging togrow your book of business and
create a fulfilling career?
If so, then welcome to thePreeminent Producer Podcast.
Each week, we'll be tacklingimportant topics, sharing proven
strategies and insights fromsuccessful producers that are in
the trenches and have traveledthe journey to becoming a

(00:35):
Preeminent Producer.
You'll discover what it reallytakes to become Preeminent and
build your book of business in away that isn't being taught
anywhere else.
Our hosts are experts in thefield and have built thriving
businesses by becoming the mosttrusted advisor to their clients
.
Welcome to your journey tobecoming a Preeminent Producer.
Let's dive in.

Speaker 3 (00:56):
You know, there are a lot of ways that producers
market themselves and there'snetworking and there's all kinds
of things that you do with yourcenters of influence and
getting to be known in yourcommunity as the insurance
expert, those kind of things.
But it seems like the industryalways reverts back to cold
calling and I read some reportsrecently that cold calling

(01:21):
really is a very, very viableway to reach out to the
community very quickly.
We've had some folks in ourcompany that have been doing
drops, where we drop by aninteresting little trinket and
then you to get somebody'sinterest and you follow it up
with a phone call and that hasbeen very successful for some of

(01:41):
our folks but is very timeconsuming and basically, when
it's all said and done, it turnsout to be a cold call.
Hey, did you get the thing thatI dropped off?
Well, it's a cold call.
So I think we have to know thatit really is a very viable way
to get yourself quickly in frontof a whole lot of people.
And the quality of your coldcall really is a couple of

(02:04):
things.
It's the script, it's what yousay, and if you join us we can
help you with that.
We can help you craft what yousay and how you say that.
But the mystery is to all of usis the fear of making cold calls
, and I've had it.
I mean, you can tell by thegray in my beer that I've been
around here for a little timeand I've also made my share of

(02:26):
cold calls and certainly in thebeginning it was very fearsome,
and I don't know why.
I really don't, because theydon't see me like this, they
just hear me.
And I had my share of peoplehang up on me.
I thought, well, really itdidn't hurt me, I'm okay, and I
think I would bet you whatChristian's going to talk about

(02:49):
is practicing those things andpreparing yourself to make phone
calls.
But stop and think about whatthe fear really is, how you can
conquer that fear.
We can help you do that withour coaching and make it.
We can turn it into a game.
Actually we can turn it intofun and we can really help you

(03:09):
get over what really is aharmless fear and remember fear
is an acronym for it's falseevidence.
That appears real.
I think is what I remember FEAR.
And so there's no harm.
You're not going to get hurtdoing this, christian.
You ever been hurt making acold call?

Speaker 4 (03:27):
Ah, not, yet I was listening to what you were
saying and you know, rick, Ithink it's one of those things
that, by the pure name it kindof makes my palm sweat, makes
the hair stand up.
Oh my gosh, I got a cold callsomeone and you know, I think

(03:49):
successful producers look at itas there isn't really any such
thing as an absolute cold callif you're doing what you should
be doing before you pick up thephone and call someone.
Okay, and what I mean by thatis, you know, you should have
done some homework on who you'recalling, to know something
about them.
And as we talk and hopefullythe listeners join us we talk

(04:13):
about ways to get through thefear of it, but also doing your
homework and making sure thatyou're calling someone with a
reason, with an intent, and youshould have a solution in your
mind because, quite honestly, ifnot, then you're nothing more
than a telemarketer and clientand businesses are used to

(04:34):
getting hundreds and hundreds oftelemarketers and that's not an
exaggeration, I mean and theyhang up on them and they don't
get through.
So the only way you're going tobe successful at calling
someone is doing your homeworkyes, being different, which we
talk about all the time and howto do that.
But really look at it as it'snot cold calling.
There isn't really something ascold calling.

(04:58):
If you're going to be asuccessful producer, okay, now
that may sound like arrogant orpompous and saying that, but
that's the truth.
If you just pick up the phoneand call someone, sure that's a
cold call.
Why would they answer?
Why would they take your calland chances are they're going to
hang up on you.
But your question, rick, Ithink, is very valid.
I've never, never, been hurtcold calling, other than hurting

(05:21):
myself out of the fear.
You know the fake fear that Ikind of it generates inside of
me.
But it is something that Ithink is absolutely viable.
And you know me, I'm all aboutbeing different and I think in
this age of everything being atext or an email, people are

(05:44):
becoming numb to personal touch,and personal touch through
voice is just one more way toget to that customer.
That is different.
So if you can master callingand not necessarily cold calling
, but calling someone, knowingwhy you're calling, knowing what
your proposition is, knowingthat they're going to probably

(06:06):
want it, the fear subsides.
And I think the fear subsidesbecause you have success.
At least that's how it is withme.

Speaker 3 (06:13):
I think you brought something up that's really
simple and good, and that is weall know the word cold call and
I think you're right.
There's shock value to it asopposed to I'm going to go make
some introductory calls, I'mgoing to go do some marketing
calls.
I mean, it's the same thing,but sometimes when you change
that first word, it has lessenergy and it has less fear it

(06:37):
has.
So maybe that's one of thethings that could help.
You know, one of the otherthings that to our folks, that
we're doing the pre, that we'redoing the drops and then
following up with calls thatstill are a cold call, think
about a pre-approach letter.
Now, we used to do that.
That's really old school stuff,and it's no surprise I'm an old

(07:01):
school guy.
How many letters do we getanymore?
We got almost none.
I mean, really, if I get aletter, I open that side of the
gun up and I'd look at it.
It goes oh my God, it's aletter.
It's like a carrier pigeon justbrought me a note or something.
So how about an old fashionedpre-approach letter?
Hey, paul, this is Rick.

(07:22):
Blah, blah, blah.
That letter has to be specific.
It can't be too long.
What's in it for Paul to talkwith me and then I call it up.
It's not quite as cold, it's aintroduction call, a marketing
call.
Paul, this is Rick sent you aletter the other day.
You remember getting it and wecan help you with that as well.
And I think it might warm it upa little bit and especially if

(07:45):
you put something a little bitunique in the letter.
And let's let, for whatever theprice of the first class stamp
is now I buy the forever stampsand I don't even know what it is
but let's let Uncle Sam deliverthat first call for us for less
than a buck, and that's a deal.
I mean, if I send something toAlaska for less than a buck and

(08:08):
they get it a couple of dayslater, I'm all over that kind of
thing.
So we can do it right here inour community and deliver it,
put it right in their mailbox.
The man or the woman's going toopen it up.

Speaker 4 (08:17):
Oh my God, a letter, yeah, what do you think, yeah,
you know, rick, some of thoseold school tactics or ways of
approaching people really havein today's world a value that's
being lost and you know that'sfine for others but that's not
fine for somebody.

(08:38):
Wants to be that preeminentproducer.
It's about connecting to thatprospect and getting that
connection.
We talk about all the time waysto really enhance that putting
your arms around your client, soto speak, and keeping the
competitors away.
So, you know, kind of likeWarren Buffett, you know his

(08:58):
thing is, you know he does whatpeople, the opposite of what a
lot of people do.
And what you're talking aboutis something that a lot of
people used to do and they usedto get inundated with mail and
get, oh, blah, blah, it ends upin the circular, can You're?
Right?
Now you just get a few piecesof mail and I find myself being
more intrigued about it andopening it up.
And if someone did that andthen called and said, hey, yeah,

(09:20):
I dropped you off that letter,that's an icebreaker too, you
know.
Again, you know it's funny,cold calling and ice breaking,
like it's some like oh my gosh,I got a fear, I got to be away.
You know, stay away from theother person.
But yeah, I mean calling peopledoing the drop buys, sending a

(09:41):
letter, being careful that ifyou're sending emails they're
getting inundated with emails.
It's a reverse of what happened20, 30 years ago.
But you know, calling.
I will say this, rick, and Itell my new producers this all
the time.
You know they can't get throughthe phone right so they can't

(10:02):
reach out and grab you.
The worst they can do is hangup on you.
But really make yourselfcomfortable and have fun, fun
with it.
And I know that sounds maysound trite, but I remember some
of my greatest successes beforethe use of email and computers.
I was making the calls rightand paper and pen.
We didn't have carrier pigeonslike maybe you had, but we had

(10:24):
paper.
And you know I take off myshoes, I do the trick with
putting a mirror in front of me.
You know I'd roll up my sleeves, I'd shoot hoops in my office
which I still have, you know andI would have fun with it and
just figure how many can I getin today.
But when I look back on that, Ithink you know I could have

(10:46):
done it a lot better, or what Icould have done better.
And I could do it better nowbecause of the internet and
things.
No more about my prospect.
Before I call them, take thetime because I think they can
really sense that when someonecalls, is this a salesperson
just calling?
You know, like good Lord, don'tget their name wrong.

(11:09):
Don't get their name wrong,don't call them.
You know, rack, when their nameis Rick, you know?
I mean, it's just that kind ofthing.
And if you don't know how topronounce their name, you can
always call.
I did this and I wouldintentionally mess it up when I
talked to the receptionist tosay I just I don't want to make
a fool of myself how this nameand I would like fumble over it,

(11:32):
and then inevitably they wouldtell me the name if you can get
a receptionist.
But anyway, I digress.
I mean, I think that itdefinitely has that spot.
There are ways to get over it.
You got to do it.
You got to have fun at it.
Do your homework and absolutely, rick, practice it, absolutely
practice it.
That's why I like having themirror in front of me when I

(11:52):
started, because I couldpractice.
I could practice my own facial.
You know how was I?
Was I?
Was I smiling?
Was I just angry?
My gosh, people can hear thatthrough your voice.
So practice, practice, practiceand then go.

Speaker 3 (12:07):
Yeah, I received a cold call from a guy a couple of
years ago.
I don't even know what he waspitching and whatever it was
pitching, we weren't a marketfor it, we weren't a buyer for
it, but at the end there wasjust a lot of silence.
He asked me a question and myresponse was Dan, you are good
at this.
And he laughed.
He said I am really good atthis.

(12:30):
It sounded like somebody I hadknown for five years and I said
and it was not it, he was not ayoung guy.
And he said not only am I goodat this, I have fun at this.
And I said we are darn good.
I know, the first time I did apodcast I had, I was podcasting
to this guy right here.
He was what's that?
What is that?

(12:51):
That is a Fox.
And I had a very large clientwith a similar name and so I set
him down in front of me and Iwas I was podcasting Mr Fox.
I guess I got this because Iwent into a radio station back
when we had a radio stations andI was a young kid and I was

(13:13):
taking a tour of the radiostation.
And here's the disc John Yonthere telling about the doobie
brothers and and I see thislittle guy, this little figurine
in front of the guy.
And so when the song went on,we were allowed to go into the
DJ booth and there it was, and Isaid what is that?
He said that's who I'm talkingto, cause I can't see who's Out
there listening to me.

(13:34):
So I've created a little guy,this little figurine, and every
day I talk to him.
So the first I don't do thisanymore but the first podcast
there was Mr Fox.
Mr Fox, oh, I love it.
Yeah, anyway, sophisticatedstuff.
But there's an expressioneverything old is new again.

(13:55):
And you talk to making coldcalls or marketing calls or an
induction calls, free approachletters, having fun doing it
with some sort of animal orwhatever, or taking your shoes
off or I know we're in your bellbottoms.

Speaker 4 (14:10):
They're probably back in, aren't they?

Speaker 3 (14:12):
Yeah, let's hope not.
How about?
How about a lime green leisuresuit?
There you go, I love it.
Anyway, I think that's part ofwhat you're seeing here and I
hope, if you join us, thatyou'll see that these, these
calls, can be very fun.
And I think the final thing Iwas like to say, just you being

(14:33):
on this, just you watching this,means you must have a desire to
get better.
You must have anuncomfortableness maybe in your
career, that you like yourcareer I hope you do, because
it's a fabulous career butyou're not happy where you are
and you're looking for ways toget better.
And that's what we're trying todo.
Try to help you get better.
And you've already taken thefirst step by just watching a

(14:55):
couple of us Yahoo's.
They have a lot on about how Ihope we can help you.

Speaker 1 (15:00):
All right, I hope you enjoyed this episode talking
about cold calling andovercoming fears of actually
cold calling.
A big part of this is acquiringthe proper skill sets and
getting over ourselves in orderto implement the strategies that
we know need to be done.
If you find yourself strugglingwith whether it's fear of cold
calling or fear of rejection, orjust even feeling like I don't

(15:23):
have the proper scripts in placeto be able to effectively cold
call, and I could really usesome coaching on this.
If that is you, I reallyencourage you to check us out at
thepreeminentproducercom to getpersonal coaching from the
coaches that you just heard inthis episode.
So check us out atthepreeminentproducercom and we
will see you in the next episodeof the Preeminent Producer

(15:46):
podcast.

Speaker 2 (15:49):
Thanks so much for joining us on this episode of
the Preeminent Producer podcast.
If you're enjoying the show,please feel free to subscribe,
rate and leave a review whereveryou listen to your podcast.
That helps others find the showand we greatly appreciate it.
Once again, thanks for joiningus and we'll catch you in the
next episode of the PreeminentProducer podcast.
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