Community Based Marketing

[Denniston]

I'm a pretty new agent (7 months).

Everyone tells me that I need to develop referral partners in other industries that have senior clients. (P&C agents, senior housing, churches, community centers etc.) I'm trying to develop a process for cultivating these relationships, and seem to be a little stuck. I would love to hear about what you have found that works to develop these relationships.

• Do you start with a letter, phone call, drop in?
• Do have any print pieces you send/leave?
• What is your pitch? What is your offer?
• Where have found to be most productive?

Any help would be very much appreciated.
Thanks!

 

[kgmom219]

Join a networking group. If for no other reason than to learn how to productively network.

Understand that networking does work, but it takes a long time to see results. Minimum 6 months.

Send a Thank you for EVERY referral, whether you sell it or not.

When you join the networking group, there will be other financial planners. Ask for referrals to other planners. Same thing for the P&C person.

Remember that anyone you meet is going to have a level of skepticism until you have hit 3 years. People who have made this work know that 90% of people who start are going to be gone 3 years later.

I partner with financial planners. And my pitch is "They are going to talk to someone. Do you want them talking to me or one of the people who are mailing them a postcard? The person mailing them a postcard probably wants to roll their 401K into an annuity, too".

 

[Todd King]

To add to the above, check out Alignable.com and join that community as well.

 

[jlallgier]

Also, make sure you are referring clients to your groups. That always helps.

 

[Denniston]

Great comments throughout...thanks for the feedback!

Join a networking group. If for no other reason than to learn how to productively network.

Understand that networking does work, but it takes a long time to see results. Minimum 6 months.

I totally understand that. It's sort of a catch-22. Any ideas where to look for these networking groups?

When you join the networking group, there will be other financial planners. Ask for referrals to other planners. Same thing for the P&C person.

That's a good idea!

I partner with financial planners. And my pitch is "They are going to talk to someone. Do you want them talking to me or one of the people who are mailing them a postcard? The person mailing them a postcard probably wants to roll their 401K into an annuity, too".

I like that. That's basically what I said when I was pitching a P&C agency. My FMO is always pushing cross selling HIP, annuities, & FE. I've have moderate success selling life, but I'm seriously considering narrowing my focus to exclusively market Medicare.

Once again I feel like it's a catch-22, as a new agent you I need to bring in as much revenue as possible, but it's hard to become proficient in a half a dozen different categories all at the same time. But once you have the time and book built that you can be proficient in a wide variety of products...you have less need to.

 

[Heather]

A friend at a senior center told me they get solicitations from agents everyday of the week. She chose not to let anyone in or hand out any cards, flyers, etc anymore. She is now only working with long term established agents who live in the area. All of our senior housing has adopted this model as well.

One thing you need is one very talkative happy customer to get your foot in the door at the senior center or over at the retirement community. I had a lady like that she basically paraded me in front of all her neighbors in the senior building. Handed out my card to her girlfriends over bingo. She was great to have when I was new. Don't be afraid to give out a gift card as a thank you either.

 

[Denniston]

To add to the above, check out Alignable.com and join that community as well.

Todd, thanks for the heads up. I just signed up. Never heard of this before, but see that several of my contacts are already on there.

What’s your approach with networking on here? Exchange a few messages on the site and then invite out to coffee?

 

[kgmom219]

Denniston...google BNI

Its the most expensive (see if you can find one that doesn't require a meal purchase, that will help), its the most restrictive (show up or they throw you out) and has the best training. You will learn more networking in the training than anywhere else and get your 30 second speech down to perfection.

As far as networking on here, we don't know where you are located. Find people close to you, send them a PM. They either respond or they don't. You never know.

 

[Denniston]

Denniston...google BNI

Its the most expensive (see if you can find one that doesn't require a meal purchase, that will help), its the most restrictive (show up or they throw you out) and has the best training. You will learn more networking in the training than anywhere else and get your 30 second speech down to perfection.

I am somewhat familiar with BNI. I have shied away from it because of the cost, and distance for me.

As far as networking on here, we don't know where you are located. Find people close to you, send them a PM. They either respond or they don't. You never know.

The "on here" comment was a little vague. I was referring to how Todd networks on Alignable.

 

[Matthew King]

Networking is a long-term investment at low-cost. It's perfect for startups/startup agents. You do have to give it time. When entering a group DO NOT TRY TO SELL SERVICES. Learn the group, give advice where you can, listen to what they talk about, connect and just have a conversation to find out what they do, share what you do but don't SELL it.

If you get in a conversation that is actually interesting for both parties. I find it better to exchange phone numbers instead of business cards then to call about a day or two later for further conversation.

As far as Alignable goes, give advice for free whenever you can that is of high value for others to know. If you don't have any, learn, ask questions, then help others. Only after providing value ask if you can reach out or leave your shameless plug in the post. Again, this is a long long term goal. But keep in mind, it only costs a little bit of time and pretty much no money.