B2B Marketing: Share your idea for various industries

[James]

I'm not a fan of a multi-product pitch and I don't think you'll do to well with it. I had an agent once think he could triple his potential leads if he went in with a flyer touting health, life and dental quotes. He did far worst them me because people think they're gonna get hit up for everything and don't want to bother.

If I happen to be looking for life and a life agent contacts me I'll want a quote. If I'm looking for life and someone contacts me who wants to quote me on life, disablity, homeowners and auto I probably won't deal with him since I'm not interested in all those products and know he's gonna want to discuss and run quotes for all of them. I'm also gonna think he doesn't specialize in life.

Listen, a pediatrician doesn't increase his business by also being a podiatrist. Most professionals specialize. You don't expect the same attorney who's handling a divorce to also handle a serious criminal charge.

I'm sure you think you're increasing your odds by pitching a variety of products. I think that reaction you'll actually get is the owner thinking "I don't have time for all that."

Choose a product you like the best and market that directly. Then cross-sell to existing clients.

That is the amazing thing of the 5 Way, you get away from product and offer an Exit Theme that most business minded people know all too well. So I suggest the 5 way is very specific, just not relying on any certain product as you are a specific Need.

 

[somarco]

If your head hurts, do you go to a butt doctor? Of course not, you go to someone who deals only with butts

Given some of the prospects I have talked to lately, I am beginning to feel like a proctologist . . .

 

[Crabcake Johnny]

Thats a good point, John. I use it in my rebuttal when they tell me that they want to use their auto insurance agent for their life insurance, since they know he is trustworthy.

Prospect: I think I will get Statefarm to give me a quote, they did a very good job on my Auto and homeowners.

Me: If your head hurts, do you go to a butt doctor? Of course not, you go to someone who deals only with butts.

State Farm is a great example. You might have your State Farm agent do a great job with your auto or home, but you might not what them doing your health. They are all captive to Assurant and you NEVER want to deal with a captive health agent. It's just another example that one personal cannot handle all insurance needs.

 

[Crabcake Johnny]

I'm not a fan of a multi-product pitch and I don't think you'll do to well with it. I had an agent once think he could triple his potential leads if he went in with a flyer touting health, life and dental quotes. He did far worst them me because people think they're gonna get hit up for everything and don't want to bother.

If I happen to be looking for life and a life agent contacts me I'll want a quote. If I'm looking for life and someone contacts me who wants to quote me on life, disablity, homeowners and auto I probably won't deal with him since I'm not interested in all those products and know he's gonna want to discuss and run quotes for all of them. I'm also gonna think he doesn't specialize in life.

Listen, a pediatrician doesn't increase his business by also being a podiatrist. Most professionals specialize. You don't expect the same attorney who's handling a divorce to also handle a serious criminal charge.

I'm sure you think you're increasing your odds by pitching a variety of products. I think that reaction you'll actually get is the owner thinking "I don't have time for all that."

Choose a product you like the best and market that directly. Then cross-sell to existing clients.

That is the amazing thing of the 5 Way, you get away from product and offer an Exit Theme that most business minded people know all too well. So I suggest the 5 way is very specific, just not relying on any certain product as you are a specific Need.

All of these suggestions are great but it's food in the dinner table that counts. It doesn't matter what you pull off this board. All that matters is what you're actually making by using any particular marketing method. I think you'll also come to find that what works for some people doesn't work for others.

I have no idea what forces in the universe are at work, but an agent friend of mine does great off postcard mailers. He consistently mails out about 1,000 a week and consistently writes a lot of business. I tried them and consitently go my ass handed to me. And it wasn't like I didn't stick with it. I got hammered week after week. I live in a different state them him and obviously I have a different environment then he does.

I had a friend of mine to BtoB. I tear up BtoB and do great. He got destroyed trying to do it some town in Arizona. He said all he hit was foriegners and very old business owners. He stuck with B to B about 3 hours a day for weeks before he threw in the towel.

You'll have to see what works in your area and the markets technique that fits your personality.

 

[NHB_MMA]

I'm not a fan of a multi-product pitch and I don't think you'll do to well with it. I had an agent once think he could triple his potential leads if he went in with a flyer touting health, life and dental quotes. He did far worst them me because people think they're gonna get hit up for everything and don't want to bother.

Choose a product you like the best and market that directly. Then cross-sell to existing clients.

I guess I have to find a way to incorporate life products into my pitch. I am of the mindset that WL and perhaps VUL can be very useful products for business owners. With these products, there is cash value that can be used to expand business down the road by using this asset to get a bank loan. What cash value is in the life insurance is safe from judgments and creditors. Obviously, it does not mean anyone should put their entire retirement planning into life insurance, as we've all been through that debate. But the features or benefits I've mentioned have some appeal to business owners at it would be wise to consider putting a portion of their funding into life products.

 

[NHB_MMA]

Prospect: I think I will get Statefarm to give me a quote, they did a very good job on my Auto and homeowners.

Me: If your head hurts, do you go to a butt doctor? Of course not, you go to someone who deals only with butts.

I like that. :wink:

 

[NHB_MMA]

All of these suggestions are great but it's food in the dinner table that counts. It doesn't matter what you pull off this board. All that matters is what you're actually making by using any particular marketing method. I think you'll also come to find that what works for some people doesn't work for others.

I have no idea what forces in the universe are at work, but an agent friend of mine does great off postcard mailers. He consistently mails out about 1,000 a week and consistently writes a lot of business. I tried them and consitently go my ass handed to me. And it wasn't like I didn't stick with it. I got hammered week after week. I live in a different state them him and obviously I have a different environment then he does.

I had a friend of mine to BtoB. I tear up BtoB and do great. He got destroyed trying to do it some town in Arizona. He said all he hit was foriegners and very old business owners. He stuck with B to B about 3 hours a day for weeks before he threw in the towel.

You'll have to see what works in your area and the markets technique that fits your personality.

Yeah, I know some people just don't make it at some particular things. I hope B2B works out well. If not, I'm not sure where I go. I will do personal networking to a certain point, as I have my list of people to talk to about life an annuities, but I just feel I need more. I might eventually have to go R2R in my local area. I think with R2R, you have to go real soft---set an appointment if possible, but just basically introduce yourself and get permission to talk to them down the road. When you try to overcome objections you can't let it go on too long or ever lose the easy-going, friendly smile. Get a reputation of high-pressure, and bold enough to knock on someone's door, and you'll not stay in business.

 

[Sam]

I'll bet you would be a LOT more successful going b2b pushing health and cross-selling life than you would pushing life and cross-selling health.

 

[Crabcake Johnny]

Life insurance agents have given a bad reputation by the media - mainly movies that portray them as pushy losers. I can think of many movies - Groundhog Day comes to mind, where life insurance agents are presented as jokes - to be laughed at. In a social circle or at a party people who find out that you're a life agent will shy away from you.

Life agents got a very bad rep back in the 50's and 60's when they went cold-call door to door. The reputation of becoming pushy and unethical was established.

Health isurance doesn't have the same stigma. It's a national crisis and a top concern of most Americans so you don't bring up the same emotions as a health agent as you would as a life agent.

At a party:

Bob: "So what do you do?"

Me: "I sell health insurance."

Bob: "Cool. How long have you been doing that, and......"


At a party:

Bob: "So what do you do?"

Me: "I sell life insurance."

Bob: "Great - hey, I think my wife is calling me. Nice to meet you."

 

[NHB_MMA]

I'll bet you would be a LOT more successful going b2b pushing health and cross-selling life than you would pushing life and cross-selling health.

I bet your right. However, when it came time to make a decision, I went the other direction, for better or worse.