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So I've had a lot of luck leading with one product then cross-selling with individuals. For parents, 529 plans have been a good way to get myself into the household. No one else seems to be going for them as the pay is almost non-existent and it's a great product for a lot of families so it's an easy introduction. Older clients, medicare supplements are great, etc. You get the idea.
I really want to break into the group market more. I have access to a great 401k platform, group life, group DI, several great options for Simple IRAs and group health, etc. I'm life, health, p&c, and securities licensed in MD, VA, and NC. I'd like to focus on middle-market local businesses, not massive multi-state/nationwide firms. I'm thinking shops 100-500 people.
I know group takes longer and is harder to get started in, but is my old approach of using a loss-leader to get in the door then cross sell feasible? Is one of these products slightly easier to market for? Should I just keep my marketing efforts geared towards individuals and keep my eyes open for business owners? Smaller startups seem largely overlooked. Would I be better off focusing on them and growing from there? Would my 529 plan work well for employer-sponsored 529 plans then cross selling from there?
Any advice would be appreciated.
I really want to break into the group market more. I have access to a great 401k platform, group life, group DI, several great options for Simple IRAs and group health, etc. I'm life, health, p&c, and securities licensed in MD, VA, and NC. I'd like to focus on middle-market local businesses, not massive multi-state/nationwide firms. I'm thinking shops 100-500 people.
I know group takes longer and is harder to get started in, but is my old approach of using a loss-leader to get in the door then cross sell feasible? Is one of these products slightly easier to market for? Should I just keep my marketing efforts geared towards individuals and keep my eyes open for business owners? Smaller startups seem largely overlooked. Would I be better off focusing on them and growing from there? Would my 529 plan work well for employer-sponsored 529 plans then cross selling from there?
Any advice would be appreciated.