December 04, 2023

Throwback: The Quality of Your Prospect List

32 minutes

One of the biggest reasons insurance agents don't achieve success as a producer is due to the QUANTITY of accounts on their prospect list. But the biggest reason overall is no doubt the QUALITY of the accounts on their prospect list.

In this throwback episode of the Millionaire Insurance Producer podcast, host Charles Specht will teach you how to increase the QUALITY of the accounts you are prospecting in order to close more deals and make more money!

Episode Highlights:

Charles explains that most insurance brokers are inexperienced and have a large number of accounts to call. (3:57)

According to Charles, insurance brokers might have 1000 different prospects on their database. However, if none of them are truly qualified to the point that they are likely to conduct business with you, calling them to set up appointments would be the largest waste of your time. (4:35)

Charles discusses the three most important things that insurance agents should have in terms of their database quantity. (9:21)

According to Charles, the quality of the prospect list is the difference between being a millionaire insurance producer and always spinning your wheels and not achieving the results you want. (10:51)

Charles believes that the reason people are not achieving the financial status and the results they desire, is that they have a deficient prospect list. (14:00)

Charles explains that if you contact customers that are coming up in the buying window, the number of set appointments you have will significantly increase. (18:27)

Charles mentions that your database should include the most profitable micro-niches. (19:37)

Charles discusses that there are lots of different ways in which to find lists of prospects. (22:21)

Charles explains that when your book of business and profession develops, you may not need the quantity as much since the quality will be there. (29:37)

Key Quotes:

“The quality of your prospect list is the difference between you becoming a millionaire insurance producer versus you continually spinning your wheels and not getting the results that you want.” - Charles Specht

“The reason that you are not achieving the financial status, the results that you want the amount of commission money in your own bank account right now, the reason why you're not winning as many clients gathering enough broker record letters and so forth is because you likely have a deficient prospect list.” - Charles Specht

“As you're maturing in your book of business, as you're maturing in your career, you might not need the quantity any longer because the quality will be there. But, as of right now if you don't have either, it must be very difficult for you to actually keep going and to have the success that you want.” - Charles Specht

Resources Mentioned:

Reach out to Charles Specht

Permission Network Insurance Agency, Inc.

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By Charles Specht

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