Insurance professionals and financial advisors tell us that insurance marketing and finding investors, obtaining new business, is their #1 challenge. However it is silly as every day, a large number of people send checks to Fidelity, to Vanguard, to USAA, Prudential, Hancock, as well as other financial services companies that don’t even have a sales staff. So there is not any lack of potential customers; it’s that life insurance agents, annuity agents, financial planners, stockbrokers–they mainly run after prospective buyers rather than pull them in, as the large businesses do.
Big corporations use a really easy marketing and advertising technique. They toss out bait like an offer for a booklet “How to Rollover Your IRA” by running a full page ad in the NY Times. Within the next forty eight hours, they likely get a couple thousand responses. And now they have the couple thousand men and women who are really interested in what they offer. Individual financial sales professionals, on the other hand, hunt after individuals they have no concept are interested. They do everything from cold calling to networking to begging for referrals. Most of these methods are not productive as these sales professionals still report an inadequate flow of new business. But, the individual financial professional can instead use the exact same effective methods of the large firms (at a tiny fraction of the cost)
How to Replicate the Techniques of Large Financial Services Firms
You don’t require a huge budget for efficient insurance marketing using the info-document method. You simply need an offer informational documents like the big players do. For instance, check out the Sunday newspaper. You will likely see some large advertisements presenting booklets such as “Three Ways to Have a Stressless Retirement” or “5 Mistakes to Miss When Moving Your IRA.” Fidelity, Merrill Lynch and others get thousands of calls from motivated and engaged potential customers. How come you run after potential clients rather than have the exact same approach of having prospects call you?
You don’t to have thousands of dollars to advertise in the Sunday newspaper. You are able to use the Internet for a really low cost. You may use Google Adwords pay-per-click advertising or run text ads on certain web sites. For example, doing a look-up on “Columbus Ohio senior” disclosed 6 Internet sites that cater to older persons in that city. Seems like an excellent place to run an ad for your pamphlet “The Good and Bad of Annuities.” The prices for these ads ranged from $20 to 50 dollars per month when I last checked– really affordable. I started my own business precisely this way with a $52 ad in a senior citizen newspaper advertising such a brochure. I was then talking to the curious people instead of making use of a shot-gun method trying to get in touch with anyone that would listen.
Here’s what happens using the info-document method. The prospect calls for your brochure. You send it. You follow-up in 2 days having a non-threatening phone call inquiring on the benefits of the booklet. You inquire and have the prospect reveal their interest or problem, what motivated them to obtain the brochure. When you have sales skills or talent, it is possible to convert a significant fraction of these inquiries into appointments. By the way, when I invited these men and women that ordered the pamphlet to my seminars, 33% attended. Now you realize the way to discover responsive potential customers for a tiny investment.
Now that’s not a challenging strategy to do insurance marketing, is it?