The lifeline of any sales position – insurance sales included – is the availability of high-quality, responsive leads. While many insurance agents view prospecting as a difficult portion of their job, consistently working at generating leads can be a low-cost, high-yield effort that can help you to increase your business for years to come.

The following are some tips on how to generate a low-cost sales prospecting funnel:

1. Partner With Other Professionals. Certain industries require, or strongly recommend, insurance for the products they sell. For example, new and used automobile salespeople routinely interact with individuals who have to have a policy before they can leave the showroom with their new ride. Further, apartment leasing agents regularly recommend renter’s insurance to new residents. Real estate agents will also interact with clients needing homeowner’s insurance coverage (or to purchase additional coverage). Establishing a great working relationship with individuals in these and other professions can provide you a steady stream of new clients for minimal outlay.
2. Purchase Low-Cost Ads in Electronic Newsletters or Relevant Blogs: Establishing your own blog is a terrific idea (which we will discuss in a moment); however, an established newsletter or blog with an established readership can provide you with relevant leads for not much initial cost. The advantage of utilizing a medium like this is newsletters and blogs are generally niched, and the ones with a high number of routine visitors have established a trust factor you can take advantage of. Think of it as an implied endorsement, of sorts.
3. Establishing Yourself Within Your Industry/Area: As mentioned earlier, your own blog or website gives you the opportunity to find relevant surveys, statistics or other helpful information and publish it to your readers. You can give recommendations or advice on insurance-related topics, making you likeable and credible within your marketplace. New and established customers will come to see you as a trusted figure within the industry and seek you first for their insurance needs (as well as recommending you easily to others).
4. Word Of Mouth Referrals: As overlooked as this is, word of mouth is still the best and most-effective way to get new business. The oft-used adage, Your referrals are my highest compliment, is as true today as it was when the phrase was first coined, as a satisfied customer will convey a message to those in their sphere of influence you will never, ever be able to relay as convincingly.
5. Mine Your Database. A no always means not now, so if it has been awhile since you’ve reached out to your current database, or if you have prospects who didn’t convert the first time, begin to contact them again. You might also look through to determine upsell opportunities, as those who have bought from you before (and who remain satisfied) are likely to choose you first when their needs change or increase.
6. Contribute To Relevant Seminars/Workshops: Home buying and estate planning are frequent topics which draw potential customers, so if you can contact an organizer to contribute to these and other types of seminars which would appeal to qualified customers, it can be a great use of your time. Again, opportunities like this help establish you as the go-to expert in your field.