The founder and CEO of We Speak Insurance™, Dave Stafford, has unique insight into the distinct needs and nuances of the Latino community. Growing up in Globe, Arizona, a small copper mining town where 60% of the population was Latino, Stafford experienced the Latino way of life, learning the culture, the values and the issues most important to this growing demographic. In addition to his upbringing and efforts serving this thriving community via We Speak Insurance™, Stafford also owns a highly successful Arizona-based insurance agency. Here, he manages a staff of several bilingual agents trained to understand the unique needs of Latinos and successfully meet their insurance requirements on a daily basis.
Here are a few of the tips Dave has picked up along the way that can help you cultivate profitable, loyal relationships with a community that represents a tremendous growth market:
1) Contact the potential client right away by telephone.
A quick call to let them know you are working on their insurance proposal can make all of the difference. Building a personal relationship is important when working with Latinos and will help set you apart from the competition. In addition, since you are competing against other insurance agents, it is important to contact your potential client right away.
2) Respond in the language requested.
It is very important to respond to a Spanish language lead in Spanish when you call. One unique aspect of We Speak Insurance is the client can fill out the quote request form in the language they prefer. It is important to respond in the same manner.
3) Verify all information provided in the lead.
Sometimes clients may not have all of their vehicle or insurance information available when they are filling out the form. This can also begin the discussion about the adequacy of their current coverage.
4) Discuss the client’s total insurance needs.
If they requested a quote for their vehicles, inquire about their home also and explain additional discounts that may be available. This will help you to determine the level of insurance protection they need for both their home and auto.
5) Follow-up, follow-up, follow-up.
It is important to work for their business!If you aren’t able to place them with your company the first time, try again in 6 months, and again in 1 year.
6) Build interpersonal relationships, and they keep coming in droves.
Latinos like face-to-face meetings when they renew or first purchase coverage. Don’t plan on an impersonal, two-minute phone call to seal the deal after some price haggling. Instead, schedule a meeting and start with a warm handshake and salutation. A little effort goes a long way. Latinos generally prefer this personal, consultative approach to buying insurance. Satisfied customers will come back and will refer friends and family. Once word starts to spread, your business will grow significantly.
7) Be prepared to help new families or new citizens understand what coverage they need.
The Latino population tends to be younger than average. While this can mean more lifetime value over the years, it also means you might need to help build a solid understanding of home and auto insurance at the outset for some of your Latino clients. But, once you gain their trust and help people understand the process, they’ll be loyal customers (meaning repeat business and referrals of new customers from their community). As above, in #6, a consultative approach is key, and removes you from price hypersensitivity and commoditization.
Frequently Asked Agent Questions
Q: As an agent, how do I sign up for leads through WeSpeakInsurance™?
A: Select agent register/login. Next, fill out the simple information forms and wait to be contacted via email for approval. Once your account has been registered and approved, you can deposit funds and begin receiving quotes. It’s that simple!
Q: How many people get the same lead?
A: We allow up to a maximum of 5 different participating agents per zip code. We do guarantee that there will never be more than one particular carrier signed up per zip code. In other words, if you are an Allstate agent, you can be sure you will be the only Allstate agent for your zip code.
Q: How much does it cost?
A: Our lead prices are some of the most competitive around. An equally well scrubbed auto lead can cost up to $16 dollars per lead with other major lead distributors. Ours cost $10 each. Homeowners leads frequently are sold for up to $20 per lead. Ours cost $10 each.
Q: How do I pay?
A: Once you’ve successfully registered with WeSpeakInsurance™ and your account has been validated, you can immediately begin receiving leads through an approved credit card deposit into your WeSpeakInsurance™ account. Simply log in to our site using your login and password, then deposit for the amount of leads you would like to receive. Once you’ve received enough leads to satisfy your initial deposit, you will be prompted for a re-deposit if you wish to continue receiving leads for your selected territory.
Q: What’s the policy on bad referrals?
A: If you received a bad phone number, or other contact information that made it impossible to contact any given lead we have sent you, we want you to be reimbursed for that lead. Simply let WeSpeakInsurance™ administration know that you’ve received an unqualified lead, and we will review it for reimbursement. Once we approved your request, we will replace the unqualified lead with one that is qualified.
Q: What makes WeSpeakInsurance™ unique?
A: Our clients make us unique. There are a multitude of other lead generation services in the insurance industry. But, none of them have made an effort to appeal to a directly targeted demographic the way we have. Spanish speaking Americans constitute nearly 1 out of every 5 drivers on the road today. We recognize the need for a consumer based network that speaks two languages, insurance and Spanish. All of our agents have at least one Spanish speaking agent available at all times. This allows our customers to better understand the process of acquiring good coverage. Our customers recognize this, and reward us with their loyalty. This is how our customers make us unique.