NO PLAGIARISM PLEASE

I NEED 15-20 NEW IDEAS. BELOW ARE WHAT HAVE ALREADY BEEN TRIED. THIS IS THE
RESEARCH FOR MY DISERTATION.

WE ARE TRYING TO MARKET TO THE INSURANCE AGENTS SO THEY WRITE MORE LOANS
FOR THEIR EXISTING CLIENTS AND NEW CLIENTS. THE POINT OF THIS RESEARCH IS
FINDING HOW WE CAN GET THE AGENTS TO WRITE MORE LOANS (MOST OF THESE
AGENTS ARE ALREADY WEALTHY)

For this project we are writing it from the standpoint of the Mortgage lender who is trying to get the
agents from the insurance company we are partnered with to write more mortgages for us the
mortgage lender. (We need to market and appeal to the agent so, they write more loans)

If you are a loan company that has a partnership with a major insurance company how to you
motivate the insurance agents to make writing loans a priority when it is only 1 of 110 different
services, they offer. They offer auto insurance, life insurance, rental dwellings, homeowners and
investment services.

Even though they make more money when they write a home loan considering it only takes 15-
20min and it pays a lot in one lump sum. Their argument is that when they write insurance it pays
them for as long as they have insurance.

They are also nervous about hurting a relationship they have with someone in their book of
business. The insurance companies even know the more services they enroll a client in the stickier
they become and the less likely they are to cancel any of the services.

How do we motivate a huge corporation to build a different companies’ products into their own?

Another problem we have is motivating the insurance agents since most of the agents are already
rich. They are business owners who have multiple staff members.

Another problem is getting their team members to ask loan questions during insurance opportunities
since they cannot get paid it is against the law. It is hard to motivate someone to do something extra
if they are not getting paid. How do you keep someone engaged for no pay?

Even though we have a contract with the insurance company, only agents who want to get licensed
to write mortgages are in the program. We don't know what they took all the time to pass a test and
get licensed if they don't want to write a lot of loans.

Here are the problems and challenges:

One problem: They have over 100 products they try to sell for their own insurance company and
ours is simply 1 product which is a small piece of their business.

Another problem: Even though the mortgage pays them more than any of their other products they
need to hit sales quotas for the insurance companies. We can never put a quota on them per the
contract.

Another problem: The other products they sell don't pay a big commission like our mortgages, but
they pay them a small commission for as long as their clients use their insurance company. The
same as royalties.
Another HUGE problem and probably the largest is appealing to the individual insurance agents
since they all have different goals. These insurance agents are already successful business owners
who own a business with multiple employees. Most of these agents are already millionaires. How to
you appeal to someone who doesn't really need the money.

We have tried sharing mortgage leads with them for no cost and they still do not have the ambition
to call them. They still get all the commission and they still do not do it.
I think we need to find a new way to appeal to them. We have tried giving them a pay raise and that
does not do it either.

We have tried running contests,

We have created leader boards to create friendly competitions.

We have tried running flash sales with additional discounts and nothing is moving the needle.

We are both client centered companies who are out to help their clients first and foremost.

We are literally the one product the insurance agents sell that put money back in the client’s pocket.
All the other products have costs. We told them if they save them money monthly by lowering their
payment, they could sell more insurance products and even this is not enough to get them to drive
more production and try writing more loans.

ASSUME US THE MORTGAGE LENDER HAVE ALREADY WON THE CLIENT SATISFACTION
AWARD FOR 10YRS IN A ROW, WE ARE THE NUMBER 1 LENDER ALREADY.

OUR PROCESS IS LITERALLY THE FASTEST IN THE INDUSTRY. WHAT MORE COULD WE
DO?

WE HAVE AN AMAZING MARKETING DEPARTMENT (We need to appeal to the insurance agent,
so they write more loans.

WE HAVE EVEN RAN A CONTEST GIVING AWAY A $85,000 CAR

A BIG PROBLEM IS THE SALES QUOTA THE INSURANCE COMPANIES PUT ON THEIR
AGENTS SO THEY ALWAYS SAY THEY DO NOT HAVE TIME TO WRITE MORGAGES
BECAUSE THEY HAVE TO MEET QUOTA WITH THEIR EXISTING BUSINESS. IF WE CAN
FIGURE OUT HOW TO APPEAL TO THEM, WE CAN MAKE IT WORK.

We have found ways they can build mortgage questions into their insurance business and the
customers would not even realize they asked an extra question.

THE PROBLEM IS NOT MARKETING MORTGAGES. Everyone knows who we are and our
partnership is all over the place. We have so much social media presence it is not even funny. We
run an advertisement every 10 seconds.

We tried enacting effective sales enablement strategies and approaches can help insurance
agents write more mortgage loans to their clients.

Working overtime should be dedicated mainly to selling mortgage policies to clients after
meeting daily targets. Most insurance agents would prefer mortgage companies to arrange get-
go targets that allow agents to go home once they have achieved the targets for the day and
work a full day during the weekend

lenders can also increase sales among insurance agents by avoiding micromanaging the team
and allowing each team member to write loans at a time they all feel is appropriate based on
their other commitments

The fear of selling loans is based on the possibility of failing to appeal and respond
comprehensively to questions from clients. Inability to respond to all questions destroys the
trust that takes a long to develop between an agent and a client.

Customer personas can help mortgage lenders to serve customers better

Other strategies that can help coerce insurance agents to write more loans give agents who
agree to work overtime to write loans preferential treatment

Having a leader that constantly looks to get that best performance out of the team mortgage
lenders management can help lure more insurance agents into writing more mortgage loans to
their clients based on the inward motivation and the motivation they see in the leadership of
the mortgage lenders

Self-assessment of each insurance agent is essential in their ability to handle some activities
and responsibilities

Most agents are reluctant to sell mortgage loans to clients based on the belief that they may
underperform in new duties

Self-efficacy is vital in the motivation of an agent and realization of their actual capabilities

Evidence shows that workplace trust and relationships encourage social interactions and
cooperation between the same teams and the management.

Dynamic leadership style helped to improve team motivation.

Sales agents require assurance from mortgage lenders that the products they are introducing to
their existing clients are not flawed

Fear for the unknown outcomes in insurance agents is an emotion that intrinsically links to
avoidance and unwillingness to sell mortgage loans to established clients. The mortgage lender
must address all information gaps preventing agents from writing mortgage loans to eliminate
fear among agents and sell loans to the customers

Employees and contracted sales agents remain firmly and effectively committed because of the
relevant social target like their employing or contracting organization. Employees and sales
agents are likely to share the values and beliefs of the organization and its commitment to
satisfy their consumer’s needs

Some agents may not share the values and the organizational culture of the mortgage lenders,
which demotivates them from pushing through to market the mortgage loans to their
established clients

Sales agents may be excessively attached to their established clients and need to maintain
strong customer relations. Commitment to customer relationships and practices may be the
most significant barrier that agents fail to market mortgage policies among the clients

Low self-efficacy is the self-assessment of an individual in the ability to handle certain activities.
Employees are likely to be reluctant to try out new products if they have low self-efficacy. Self-
efficacy entails estimating capabilities to mobilize the motivation, energy and cognitive
resources required to meet the demands of selling new products to their existing client

consider diversifying their products and services to cover a wider area of needs to make the
marketing of their products more accessible

Insurance agents like working with companies that do not prolong the application process.

most companies have moved their activities online, including the most critical aspect of
marketing

Marketing channels have evolved dramatically since the invention of and advances made in
mobile technology

The improvement of the skill set of the team is an objective process that many organizations
consider. Motivation is the hardest part, especially motivating insurance agents who work for a
different company and have a target to meet.

When salespeople remain unmotivated, the organization cannot inspire them to advance their
sales unless there is an open and honest conversation

Asking for direct reports from the agents and how they like to be managed can inspire more
agents to write more loans for the mortgage lender

Understanding the personal and professional goals of an agent. Motivating insurance agents is
an uphill task that requires an individual to understand the vision of each agent in their
personal and professional lives as insurance agents

Agents and salespersons are motivated in different ways. While some are motivated by
company-wide sales contests, others are motivated by sales quota achievements. Some agents
will similarly be motivated by their contribution to the overall organizational achievements
Insurance agents should choose prizes and rewards. Mortgage lenders could be choosing the
wrong rewards for insurance agents, demoralizing efforts to market their plans to clients

Sales agents need to find a deeper meaning for their jobs than working for money and rewards.

Empowerment and making people valued can also help mortgage lenders appeal to insurance
agents to write more loans

Emphasis should also be made on collaboration before the competition; sales agents, especially
insurance agents, are competitive

Flexibility in management is key to motivating agents and the sales team to write loans on
behalf of the mortgage lender

fueling agents could also motivate them to write a loan for the organization. Insurance agents
have hectic jobs and lives, traveling around to convince people to buy policies and now adding
them an extra task to sell mortgages will require an extra effort

advancing online activities

Reducing multiple emails sent to prospective customers and existing customers can create a
rapport with customers and prospective customers

providing customers with freedom of choice with their services is important.

Customer centricity helps a company to build loyalty and trust with its customers and a solid
reputation

company must have a strong presence on digital platforms.

Insurance agents thrive in companies that have simple and streamlined transaction process

Human involvements in a loan application and approval process enable clients to build trust
with agents.

Insurance companies have divided their customers into demographic, geographic, behavioral,
and psychographic lines and offer services based on each market segment’s preferences
(Camilleri, 2018). Market segmentation is an organizational strategy used to break down
consumers into smaller and manageable groups whose preferences in terms of loan features
can be addressed easily.
Cold calling is a marketing technique in which a sales representative in a company contacts
individuals randomly who have not expressed any interest in the company’s available products
or services

Companies should invest their time in understanding their customers and study how consumers
interact with their products

Call to action is effective when used as an actual conversion on a landing page and product
description

The best way to develop a competitive mortgage business, generate more mortgage leads, and
close more mortgage loans is by making the loan process more personal and making
relationships with the insurance agents a core business practice

mortgages have a single product that should be marketed. The possibility of convincing a target
market to buy one product in the market is low. The mortgage company has to diversify its
products and services to appeal to the market to make insurance agents write more mortgage
loans.

enhancing loan processing efficiency for clients who choose to buy mortgage loans from the
company.

Enhancing sales channels for the insurance agencies may be a game-changer for the sales of
mortgage loans

Prices hinder a product from selling in a certain market. Insurance agents may be unwilling to
write loans because of the unappealing prices set by the mortgage lenders.

Marketing products and services of a company with sufficient community presence and
relations are easier because of the company’s exposure in the community. Increasing
community presence and visibility can take many forms

Marketing activities in a company affect the ability of the company to make sales. Creating a
robust marketing campaign is the core strategy that can make mortgage lenders convince
insurance agents to write more loans on their behalf

Expanding to new domestic markets can help increase sales in a company. Expansion into new
markets is costly but increases a company's client base

A high-level understanding of the client base and the marketers enables mortgage companies
to qualify clients. Qualifying clients helps the company understand if investing time and
resources in a given client base is advantageous
The insurance agents can appeal to the customers by explaining the significant benefits of the
mortgages. One significant benefit of borrowing today for the wealthy is the likelihood that
rates could eventually rise, allowing them to lock in cheap borrowing costs for decades.

The agents can explain to the clients that borrowing is cheap. There have been times in the past
when mortgage rates have soared. However

The agents will explain the tax benefits that these mortgages offer.

The agents should implement new communication strategies to target and focus on
effectiveness

The firm should build a database from its existing leads as this gives them a powerful marketing
tool