Direct to Consumer Success Triggers

Direct to Consumer (D2C) models are all the rage these days. The irony is that Direct Marketing of Life Insurance has been flourishing for 30+ years.

It should be noted that having a website and quote engine do not qualify every licensed rep to become a successful Direct Marketer. It’s a tad more involved than simply having a digital presence. In fact, the margins are tighter today than ever. Marketing costs are prohibitive and closing as well as placement rates continue to plunge. You need expertise.

Based upon experience growing SelectQuote into the largest DM and building 3 successful start-up’s, I’ve included a primer (broad check-list) for developing a world class D2C sales operation:

  • Capital investment and commitment to the sales model
  • Leadership and expertise in the Direct Marketing channel
  • Strong management team in Sales, Marketing and Service
  • Competitive products, including Non-Med
  • Ability to successfully cross-sell ancillary products
  • Excellent Insurance Carrier partnerships and commission structure
  • Several underwriting niches
  • Establish numerous marketing sources
  • Outsource or develop in-house Direct Response creatives
  • Build a marketing “tracker” to measure advertising success
  • Constant testing, measuring and A/B comparisons
  • Ability to generate quality leads at affordable prices
  • Dynamic customer-facing website
  • Lead distribution system and customer follow-up tools
  • Lead segmentation program
  • Best Quoting , Agency Management System and CRM tools
  • Deploy E-signature and E-Delivery capabilities
  • Lease a dynamic telephony, dialer and call router system
  • Use recorded calls and WAV files for ongoing training
  • Build reporting tools to capture all key sales metrics
  • Develop a comprehensive customer touch-points strategy
  • Design compelling “creatives” that distinguish offering (No copy-cats)
  • Develop a recruiting and hiring program for best talent
  • Create World-class training programs for agents
  • Produce documents for agent and case manager role and duties
  • Design a “Minimum Standards” document for agent production
  • Design all agent scripting and messaging
  • Produce agent score-carding and formal evaluation program
  • Develop “Rookie” team and “agent’s to be” structure
  • Hold monthly “Graduation” ceremonies for new hired agents
  • Build a Mentor program for Agents and “Jr. Managers”
  • Create a “win/win” and motivating compensation plan
  • Develop coaching modules to convert highest percentage of leads
  • Build a competitive, open culture that rewards company success
  • Outsource an “after hours” call center for lead capture
  • Generate weekly/monthly contests to motivate performance
  • Foresight with market conditions/economic/seasonal factors
  • Design a “Success Board” (Ticker) displaying agent results
  • Resourcefulness to create extra business during slow times
  • Consult with an industry D2C expert to avoid land-mines and cash-flow traps, and build it right, with scale and sustainable success

As they say, the devil’s in the details. Expertise, experience and Execution are critical.

Contact InsuranceMined to build and transform your D2C empire.

Click Here to watch my web class replay of, “Learn the Sales Secrets of Top Direct Marketers that will Produce Hundreds of New Policies for You this Year!”