Any Luck with MYGA Newspaper ADS?

[blackandyellow]

Hey everyone, wanted to throw this question out there. Has anyone had any luck advertising MYGA rates in newspapers? I have thought about running a big preapproved 5 year MYGA ad in the newspaper, but wanted to see if anyone has had any luck with this approach or is it just a waste of money?

 

[iceco1d]

I always wanted to do this, but my b/d won't let me. I think you could do newspaper ad, or rate card mailers.

Probably cheaper exposure via newspaper, but you could be more targeted with the mailers.

 

[golfnut]

I have run MYGA ads several times in the past and currently have two ads, one in my local paper and one in a larger town, I have had mixed results in the past, usually run for 2-4 weeks in all weekly issues. I have made money overall, but never have had any big cases. I am using Liberty Bankers Life rates and approved ads.

 

[annuityseller]

I tried this last summer for a couple of months in a weekly rag but never made a dime??

 

[TheAnnuityGuru]

I have had several agents try this approach and with a few exceptions it was a complete failure at least in terms of generating leads. The first question I would ask you is this to generate leads or is a branding tool or is it both? This question will help you frame your definition of success.

Here are some other best practices from the agents that have had some success:

1. Keep it small - local community papers or HOA newsletters are both more cost effective and allow you to target your market with more precision.
2. Plan for a longer campaign - running 1 ad is not a path to success, I would plan for a 6-12 month campaign.
3. Mix it up - Plan to run 2-3 different ads with the same message formatted in different ways. Cycle the ads monthly/quarterly.

 

[Brad W.]

No its not that you didnt make a dime. Its you lost money, remember you had to pay for the ad in the newspaper.

 

[annuityseller]

I sit corrected!!!!!!!!!!!!1

 

[golfnut]

I am posting this so I can look at it at a later date..NO more newspaper ads for me, you have lost money each and every time and you have tried many times, Give the money to church and maybe the big man upstairs will reward you for sowing seeds into his kingdom.....just saying
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In case you are wondering about the total return, I looked back over 10 years and it has been a loser, I only have quickbooks for the last 5 and I forgot about those years..