Effective Marketing Techniques?

[gradyinsurance]

As of yet, I have not contracted with a health carrier, other than UA. I'm still looking for one, and am trying to get with Golden Rule, but I haven't done it yet.

I felt like that the discount card and accident policy's low prices would help bring down the "I can't afford it" barrier, but I do know it could be considered "Unprofessional". It was just an idea I was tossing around, not necessarily set in stone.

I think you guys are on to something about the starting with closer to the end of the book. Might liven things up a bit, if nothing else. I will check on a list of the owners names with the library.

Thanks, Dave.

 

[J.R.]

As of yet, I have not contracted with a health carrier, other than UA. I'm still looking for one, and am trying to get with Golden Rule, but I haven't done it yet.

I felt like that the discount card and accident policy's low prices would help bring down the "I can't afford it" barrier, but I do know it could be considered "Unprofessional". It was just an idea I was tossing around, not necessarily set in stone.

I think you guys are on to something about the starting with closer to the end of the book. Might liven things up a bit, if nothing else. I will check on a list of the owners names with the library.

Thanks, Dave.

Deal with people who currently have health insurance or had to drop coverage because it became to affordable after they bought a Mercedes. You can't fix stupid!

Became an expert in one niche (health, life, disability, etc.) and cross sell whatever you want as time progresses.

It's not that selling discount cards is unprofessional because their are some "decent" cards available. But when compared to a major medical policy they are absolutely worthless. A GR copay saver or Assurant RightStart plan is a lot better than a discount card that nobody recognizes.

Would you rather spend the same amount of time for a discount card that retails for $40 or a health insurance plan at $300 p/month. Same amount of time, but you make money with the latter.

If somebody values health insurance they will find a way to make it work. If not, you can do what I do and tell them to speak with the local Medicaid office. Either their ego will take over and you still have a winning choice or they'll become elated, in which case you kindly let yourself go.

 

[Delta76]

Get contracted with the health carriers, it shouldn't take too much effor or time. Until then prospect life business. Call people and tell them this:

"I'm a local life insurance agent here in Anytown. The life insurance market place has changed substantially in the last couple years and rates are lower than they ever have been before. When was the last time you reviewed your coverage?" (get them talking)

If it's been a while, ask to review their coverage. Tell them if you can help them, you'll tell them, if not, you'll tell them that too. You can find replacements and peole thinking about getting coverage. I don't know what the ratios will look like, but you'll sell some policies. I use to walk into businesses and ask "is the owner available?" and then lead into the script above. It works if you ask enough people each day.

In the mean time, get appointed by the carriers for health. Then mix it up, do what suits you. If you work from 8am to 4pm doing nothing but seeing people or trying to see people, you'll make it.

 

[Delta76]

I felt like that the discount card and accident policy's low prices would help bring down the "I can't afford it" barrier, but I do know it could be considered "Unprofessional". It was just an idea I was tossing around, not necessarily set in stone.

One last thing, that "barrier" is in your head. There are plenty of people that can afford what you sell. Just because something may seem expensive to you, doesn't mean it's expensive to everyone else. A good prospect:
- has the resources to pay for your product
- has "pain" that he or she recognizes and wants to fix
- is approachable by you and willing to listen

Obviously, not everyone will fit. Find good prospects, don't try to make them.

 

[gradyinsurance]

I felt like that the discount card and accident policy's low prices would help bring down the "I can't afford it" barrier, but I do know it could be considered "Unprofessional". It was just an idea I was tossing around, not necessarily set in stone.

One last thing, that "barrier" is in your head. There are plenty of people that can afford what you sell. Just because something may seem expensive to you, doesn't mean it's expensive to everyone else. A good prospect:
- has the resources to pay for your product
- has "pain" that he or she recognizes and wants to fix
- is approachable by you and willing to listen

Obviously, not everyone will fit. Find good prospects, don't try to make them.

The reason I mention a "barrier" is because a lot of the clients I've dealt with so far are low income, so I hear the "I can't afford it" line quite a bit. I've also heard "I ain't gonna die no time soon" , and "Well, I'll just pray that I don't get sick" . Neither of which, might I add, will substitute for quality insurance coverage.

But I am trying to break into higher income markets, and as well as the calling techniques I mentioned above, I'm also going to the county register of deeds office and getting a list of recent home purchasers. If I prospect that market, at least I'm dealing with people who can't say, "That cost nearly as much as the rent."

Happy Thanksgiving,

Dave.

 

[Delta76]

Just call local business owners. Some will, most won't want to talk. It's a numbers game. I don't think it'll be hard to find the right people to call, just call. You're over thinking this.

 

[James]

The reason I mention a "barrier" is because a lot of the clients I've dealt with so far are low income, so I hear the "I can't afford it" line quite a bit. I've also heard "I ain't gonna die no time soon" , and "Well, I'll just pray that I don't get sick" . Neither of which, might I add, will substitute for quality insurance coverage.

But I am trying to break into higher income markets, and as well as the calling techniques I mentioned above, I'm also going to the county register of deeds office and getting a list of recent home purchasers. If I prospect that market, at least I'm dealing with people who can't say, "That cost nearly as much as the rent."

Happy Thanksgiving,

Dave.

Well, obviously you are prospecting to the wrong people! Been there and done that, yet if you move to new home owners, exactly what do you think you are going to hear? Same old same old, they now have a mortgage and of course buying things left and right for their new home, and rightfully so I suppose. What you're likely to hear is, "That is as much as my mortgage!", okay maybe not.

First off, you have to find people that can afford what you're peddling, which is life insurance, hopefully solid WL or UL with a Term mix. Simply can not understand why anyone would try to make a living selling term insurance only?

Second, you have to find a niche to as some would say, "Seperate Yourself from Others". Personally I like wealth preservation as in equity stripping with the use of a 1% CFA mortgage (a Interest Only loan/ARM and pay minimum). What you have to explain is how having a fully mortgage home is more safe then having one being paid down, which isn't hard to do. Most people don't spend too much as common theory goes, they simply pay too much in interest! Couple the 1% CFA mortgage with a payoff of unwise debt and savings as in WL, Bonds, Annuities or what ever you like is a very wise choice indeed.

Third, once you lower their mortgage, start debt reduction and of course have sufficient amount of insurance, they'll desire to start a "Wealth Creation Plan" will be there, if you know how to explain it. Best way to start is to use the old "Golden Rule", which is this, "He who has the Gold makes the Rules". Basically its simple, more then likely when you start prospecting you'll find most people can not make todays financial advise work, and for obvious reasons! You simply sell them on a better more secure way of wealth creation, which means they have to own what they are investing in.

Okay, let us go back to the beginning, got a little sidetracked. Okay, go out and about and find neighborhoods that you think fits the demographic of what would make good hunting grounds for peddling your wares. Then you go down to the local library and get the Polk Directory or Criss Cross Book from the reference section of the library. Look up the streets that you would like to sell. Now go back home and work up a flyer, one with Premium Rates on Term, age 35-40-45 or what have you for the amount of 100 grand, 250 grand and 500 grand, in other words you'll have a table of premiums at 5 year increments. Mail that to all the homes, I would add brochures from several different companies, as in AIG and Illinios Mutual.

Now you can add a Survey, if they send the survey back offer something fairly cheap, say a free dinner at a local eatery, not one too expensive! What you may want to do is to find some new Resturant and see if you can strike a deal, as in joint advertising. Now if you do this, make sure you are clear that the Complimentary whatever is for filling out the survey and sending it back and nothing else! Now some will say this is pushing the envelope, but I don't think so.

Now also offer a White Paper, Free Report on a subject that you know something about. I wouldn't even worry if it is directly tied to insurance or not, I do one on photography!

 

[J.R.]

Well, obviously you are prospecting to the wrong people! Been there and done that, yet if you move to new home owners, exactly what do you think you are going to hear? Same old same old, they now have a mortgage and of course buying things left and right for their new home, and rightfully so I suppose. What you're likely to hear is, "That is as much as my mortgage!", okay maybe not.

First off, you have to find people that can afford what you're peddling, which is life insurance, hopefully solid WL or UL with a Term mix. Simply can not understand why anyone would try to make a living selling term insurance only?

Second, you have to find a niche to as some would say, "Seperate Yourself from Others". Personally I like wealth preservation as in equity stripping with the use of a 1% CFA mortgage (a Interest Only loan/ARM and pay minimum). What you have to explain is how having a fully mortgage home is more safe then having one being paid down, which isn't hard to do. Most people don't spend too much as common theory goes, they simply pay too much in interest! Couple the 1% CFA mortgage with a payoff of unwise debt and savings as in WL, Bonds, Annuities or what ever you like is a very wise choice indeed.

Third, once you lower their mortgage, start debt reduction and of course have sufficient amount of insurance, they'll desire to start a "Wealth Creation Plan" will be there, if you know how to explain it. Best way to start is to use the old "Golden Rule", which is this, "He who has the Gold makes the Rules". Basically its simple, more then likely when you start prospecting you'll find most people can not make todays financial advise work, and for obvious reasons! You simply sell them on a better more secure way of wealth creation, which means they have to own what they are investing in.

Okay, let us go back to the beginning, got a little sidetracked. Okay, go out and about and find neighborhoods that you think fits the demographic of what would make good hunting grounds for peddling your wares. Then you go down to the local library and get the Polk Directory or Criss Cross Book from the reference section of the library. Look up the streets that you would like to sell. Now go back home and work up a flyer, one with Premium Rates on Term, age 35-40-45 or what have you for the amount of 100 grand, 250 grand and 500 grand, in other words you'll have a table of premiums at 5 year increments. Mail that to all the homes, I would add brochures from several different companies, as in AIG and Illinios Mutual.

Now you can add a Survey, if they send the survey back offer something fairly cheap, say a free dinner at a local eatery, not one too expensive! What you may want to do is to find some new Resturant and see if you can strike a deal, as in joint advertising. Now if you do this, make sure you are clear that the Complimentary whatever is for filling out the survey and sending it back and nothing else! Now some will say this is pushing the envelope, but I don't think so.

Now also offer a White Paper, Free Report on a subject that you know something about. I wouldn't even worry if it is directly tied to insurance or not, I do one on photography!

Where did you find out about the 1% CFA Program., I recall reading about that and other equity managements techniques here The Wealth Preservation Institute | The WPI Home Page

I'm sure there are other resources. thanks.

 

[James]

Where did you find out about the 1% CFA Program., I recall reading about that and other equity managements techniques here The Wealth Preservation Institute | The WPI Home Page

I'm sure there are other resources. thanks.

Just about any Interest Only and/or ARM will work. They truly are not 1% loans, simply deferred interest up to 5 years while other interest is still due. You'll still end up with a true interest rate (6-8%) but deferring the interest in 5 year increments is what is really being done. I'm been pushing this for some time, just so happens that the above people use the CFA Program simply as a fancy name. Plus the guys book is eye opening, remember many of said that "Missed Fortune" wasn't a bad idea just need of some refinement? Well, that is exactly what this guy does in a more upfront and honest manner. Plus he makes no bones about it!

The Wealth Preservation Institute | What’s Wrong with the New Missed Fortune 101?

 

[J.R.]

Just about any Interest Only and/or ARM will work. They truly are not 1% loans, simply deferred interest up to 5 years while other interest is still due. You'll still end up with a true interest rate (6-8%) but deferring the interest in 5 year increments is what is really being done. I'm been pushing this for some time, just so happens that the above people use the CFA Program simply as a fancy name. Plus the guys book is eye opening, remember many of said that "Missed Fortune" wasn't a bad idea just need of some refinement? Well, that is exactly what this guy does in a more upfront and honest manner. Plus he makes no bones about it!

The Wealth Preservation Institute | What’s Wrong with the New Missed Fortune 101?

I do agree with you James. The theory behind Missed Fortune is sound, it is the practicality of it that is lacking.