Is an insurance sales career such a bad idea?
Business,Marketing There are many fields or workspaces today that utilize marketing skills. The sale and researching skill developed by marketing professionals are becoming more useful every day. This is also true for insurance category. Typically, this is an area that many tend to stray away from when pursuing jobs. This could be attributed to the 100% commission pay or the stigma of being of an insurance salesmen. Recently, John Heath, Agency Development Manager for Colonial life, spoke to our class. While he may also be selling the career, he made good points as to why we should not discount insurance sales as a viable option after school. First, the skills needed to be successful in the insurance market aligns with the skills that marketers learn or possess. It is important to set goals when setting up the plan for the week or day. The goals, while advancing the company, should also be attainable and measurable. It will take the correct research and prospecting to become efficient in projecting such goals. Moreover, the characteristics involved in selling insurance directly correlate with those held by an ethical marketer. It was said that it takes a combination of structure and relationship building when offering the product. It is important to have structure in the beginning while learning the products. This will help the customers understand more about what they are buying. This knowledge will create confidence that will make the sale easier. The relationship is also an equally important attribute. It will be easier to sale to a person when you can understand their situation and needs. According to Dr. Daryl Green, trust and likeability are attributes that consumers look for when approached by a seller. This is will be immensely helpful when cold calling or visitations of businesses, also called “drops” by Colonial. The straight commission pay model scares most away from this profession. They are two sides of this and it could be viewed as good or bad. The bad side would be that there is not a consistent flow of money. For many, A steady paycheck is a crucial part when searching for jobs. This could also be view as positive in terms of limits. When you are on commission, the you can what your pay is going to be. If you put in the work, the paycheck will reflect that determination. This aspect was considered the most valuable aspect of the job, according to John Heath. The insurance sector allowed for some freedom and flexibility. It allows the individual to set their own schedule and prioritize according their standards. The skills attained as marketing students make for a perfect candidate. It will allow any individual to excel in the industry. While it may have downfalls, it creates a pay structure that rewards you for the work you put forth. Ultimately, the job creates a flexible, gratifying experience that individuals look for in a career.
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