Consultative Broker Briefing




	Rob Ekern's Book - "Consultative Brokerage®: A Value Strategy - Featuring TCOR" is now available from National Underwriter!

The Consultative Broker™ Briefing
Volume V, Number 3
A Free Publication of C.R. Ekern & Company
888.670.1177
www.crekern.com
Copyright, C. R. Ekern & Company, 2007

The Art of the Cold Call

The cold call is one of the most crucial skills for working brokers to master. Many of us did not have the luxury of a referral source early in our careers, so the cold call was our primary method of getting started. Cold calling allowed us to target the types of accounts we chose to work on and gave us immediate activity.

I received an email recently from one of our Briefing readers. He is a young producer who wants to know more about how to make cold calls to set appointments. I am qualified on that one, having made over 1,000 cold calls in my brokerage career. So, based upon his request, here are my thoughts:

Play a Game. Whether you are working an industry list, geographic territory, or specific program, the first call of the day is tough. However, once you get the “MO” going, it becomes much easier. So, set a goal for the number of calls, contacts, etc. Reward yourself for hitting your goals.

Lead with a Three-Paragraph Letter. This letter provides you with a follow-up document that introduces you and your firm. It should state in bullet form some of the unique resources that your firm offers to reduce a client’s Total Cost of Risk (TCOR.)

Take the Spotlight off Yourself. As soon as possible begin to talk about the resources and services of your firm. Using the firm as your backstop provides you with valuable credibility and name recognition. This is institutionalization at its finest.

Seek a Capabilities Presentation. When calling your prospects, stress again how your organization has unique resources to help your clients reduce their TCOR. You are simply setting up a meeting to introduce them to the capabilities and resources of your organization.

All Suspects are not Prospects. In the event your suspect only wants to talk about the price of insurance, you probably have a bad prospect. You must refocus this prospect or walk away. The time you spend in refocusing the prospect will come back to you ten-fold.

Do not get hung up on ex-dates. Ex-dates are fool's gold. Client issues or concerns do not revolve around expiration dates. Broker of record appointments can be obtained at any time from prospects that are not receiving the capabilities and resources that a firm like yours can offer.

I really appreciate hearing from our readers with their requests and inquiries. If any of you would like another specific topic addressed, please send us an email. Just like your favorite radio station, we will play your request (no dedications please!)

Best regards to all Consultative Brokers,

Rob Ekern
President
C.R. Ekern & Company

Consultative Broker Briefing Main Menu

Consultative Brokerage® Techniques are utilized by agents and brokers across North America in the development and retention of upper middle market revenues. The Consultative Broker Briefing is delivered electronically free of charge to selected agents, brokers, and other insurance professionals across North America. To subscribe to The Consultative Broker Briefing, please click here.