Fish Bowl Prospecting

Mar 30, 2008

  1. Emmanuel_Alonzo
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    Emmanuel_Alonzo New Member

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    I have not yet tried this. However, I have noticed that Ameriprise uses this approach. You set up a fish bowl in a restaurant for people to either drop their business card in or fill out an entry form for a free group lunch. The Pitch: Lunch is free in exchange for you listening to a brief presentation regarding something that everyone needs, INSURANCE (by attending you are not required to purchase anything its just food for thought). Now, would it be appropriate to set the lunch to a 6 person minimum, to maximize your investment in the lunch? Are there any other requirements that would be appropriate? Is adding requirements appropriate at all?
     
  2. djs
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    djs Super Moderator Moderator

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    I haven't done this, but I understand it works pretty well for financial services. I'm not sure it would be profitable for insurance.

    Make it a free lunch for 10, you'll have 6 or 7 show up, some husband and wife combos (not really what you want, but it's okay). Work it out with the restaurant in advance for a flat fee per person, they can limit the menu if appropriate.

    I would not make it complicated, little to no restrictions. It either works or it doesn't (you could exclude competing businesses from being the primary winner). Keep your pitch short, no more than 5 minutes. Make sure you give them an opportunity to fill out a form to request more info.

    Dan
     
    djs, Mar 30, 2008
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  3. somarco
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    somarco That Medicare Expert Guy

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    Works best with big ticket items. Financial planning, annuities, LTC. Can't say it would work for anything else. Not enough commission to offset the cost.
     
    somarco, Mar 31, 2008
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  4. Bob_The_Insurance_Guy
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    Bob_The_Insurance_Guy Guru

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    A very wise man once said, "Offer food and only the hungry will show. Offer information, and only the interested will show. Now, who would you rather talk to, someone who's eating themselves into a fog, or someone who has an interest in you?"

    :idea:
     
  5. Crabcake Johnny
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    Crabcake Johnny Guru

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    My father-in-law just got tickets to a great local seafood restaurant to listen to a reverse mortgage pitch and he gets to invite 2 other people. So the 4 of us are really looking forward to a great dinner. I think I'm gonna get the pecan crusted grouper.
     
  6. Mr. Bill
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    Mr. Bill Guru

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    Dang! Didn't know Long John Silver's was going high end!!!!

    Well, at least you might learn something...
     
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