Creative Marketing

Jul 12, 2007

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  1. salpro22
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    salpro22 Guru

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    I'm in the process of putting together a new marketing campaign focusing on various trade associations in some of the areas I target.

    As it stands now I have a general plan of attack, but I'm up in the air as to how I approach compensation regarding incentives for the board of directors, referrals, etc.

    I imagine that any organizations (e.g., Chamber of Commerce, Small Business Association, etc.) gets specific amount per application or commission percentage, but I'm not sure what is legal and/or the general norm.

    If anybody has experience pitching associations on becoming the insurance guru for the members of the association I'd appreciate your input.
     
    salpro22, Jul 12, 2007
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  2. somarco
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    somarco GA Medicare Expert

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    Most associations & chambers are looking for non dues revenue. For the right price they will endorse almost anything.

    You cannot pay them a commission unless they are a licensed agent. If they are a licensed agent then why do they need you?

    I have worked with associations in the past where the E.D. was licensed and demanded payment under the table. I didn't have a problem since he would be given a 1099 and the 5500 would reflect monies paid to him.

    The non dues revenue needs to be structured as a per app fee or something not directly related to premium.
     
    somarco, Jul 13, 2007
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  3. salpro22
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    salpro22 Guru

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    Thanks for the info.

    What is an E.D.?
     
    salpro22, Jul 13, 2007
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  4. slushhhpuppie
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    slushhhpuppie Super Genius

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    Not exactly.

    This varies from state to state. California & Florida allow commission rebating to unlicensed individuals only on life products, not variable contracts. Pennsylvania allows commission sharing with unlicensed consumers & to professionals as a referral fee, as long as there is a written agreement and detailed documentation is kept for at least 5 years.

    If this is the direction that you want to go, check with your state.


    IMHO.... I can't imagine ever offering a client a rebate on my commission. I give objective advice and provide my clients access to the best products from the best companies, individually tailored to their situation.

    My business card says "Licensed Insurance Adviser". Offering a kickback for doing business with me would be counter-productive to my ultimate goal of creating a trusted, professional image in the eyes of my clients.
     
  5. somarco
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    somarco GA Medicare Expert

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    ED = executive director

    Of course it also refers to a condition that can be rectified by a little blue pill.

    Or so I hear . . .
     
    somarco, Jul 13, 2007
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  6. salpro22
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    salpro22 Guru

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    HaHa, insert joke here......
     
    salpro22, Jul 13, 2007
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