How do you “brand” yourself?

[Igoturmuffins]

I know the last post is a month old at this point and while I'm just getting my feet wet in the senior market I do have something I can add to the discussion.

As a quick background. I started my own niche natural health business 14 years ago and am raising a family on only that income and working 4 days a week most weeks. The insurance gig for me is extra but that's another story for another time.

As far as branding I found out very quickly that all the advertising and logos and stuff is secondary. While you need name recognition I would say it's earned not bought/manufactured.

What worked for me was doing what I did for the right reasons. Money was important but again a secondary thing to me. My main concern was for my clients. I listened to them, I talked through things with them (with being the key word), and treated everyone who came in my office like an old friend the first time I met them. I did the best job I could do for them and went the extra mile to do late night research or fit them in when it wasn't the most convenient of times for me. I made housecalls sometimes late at night. The reputation you earn will be your brand, which should just be an extension of yourself. My business is pretty much exclusively referral. It's taken me from having no real education and living in a depressed area to 3 locations and working on tour buses for artists. The business name and logo and website and all that came eventually but was more to stay connected to people in convenient ways and to be found when my name gets dropped in the coffee shop. I started as myself and my "brand" more or less kind of grew around me.

All that to say: if you treat people well, and do your best and put in the time then branding won't be anything to worry about as you'll have a reputation that will precede you. Don't be afraid to do things differently, just do what you do well.

 

[somarco]

I get more referrals because of what I do for the community rather than the brand

And for your clients . . .

Talk is cheap. Flashy cards, signage, etc is great but the one thing that makes an impression more than anything else is what you do that does not generate an immediate payback.

I run PDP reports for all my clients during AEP and make recommendations. In almost every case they can save some money, even if only $30/month. Last year I made suggestions that will save two clients over $5,000 this year.

Running several hundred drug reports is time consuming and makes my AEP start a month earlier. But the referrals from that effort generated 23 new sales last year.

Nothing wrong with branding, but acts of kindness go a long way.

 

[goillini52]

And for your clients . . .

Talk is cheap. Flashy cards, signage, etc is great but the one thing that makes an impression more than anything else is what you do that does not generate an immediate payback.

I run PDP reports for all my clients during AEP and make recommendations. In almost every case they can save some money, even if only $30/month. Last year I made suggestions that will save two clients over $5,000 this year.

Running several hundred drug reports is time consuming and makes my AEP start a month earlier. But the referrals from that effort generated 23 new sales last year.

Nothing wrong with branding, but acts of kindness go a long way.

Bob, you forgot to mention that you don't even sell PDP's.

 

[somarco]

Bob, you forgot to mention that you don't even sell PDP's.

True.

I give them away

 

[mafrumkin]

Some time ago I learned to PROPERLY ask for referrals. I am almost 100% referral now. They are free, and have an extremely high close rate.

There is no business name, logo, gimmick, tune, photo etc. that you can have that will be anywhere near as positive as someone hearing from someone they trust "use so and so. He took good good care of me, and knows his stuff" You could have the worst name and logo, and smell like actual cat poo, and you'd still run circles around your competition. Many of my clients don't know or remember or even care what the name of my company is. They sure as hell know who I am, and that I'll take care of them, though. I'm here on a Saturday trying to keep up with all the business. I don't even have time to worry about stuff like that.

Just wondering Mark, do you sell some sort of referral generating method? Because every post you put up where someone asks for sales help your response is "just get referrals and your life will be sunshine and roses." Did you even read the OP? He wasn't asking for help getting referrals. You've never gone to one of your golden referrals and had them say words to the effect, "I really like my Prudential agent, why should I switch?"

 

[mafrumkin]

I am an independent agent and as many of you I am affiliated with many different companies on the life, annuity and P&C side. The issue I run into is I don't want to seem "small" to my clients and prospects. An agent from NY Life, Mass, Etc use their main company as the brand which can help or hurt them but they have a corporation. How or what does everyone do to stand apart? Do you use your name "John Smith Insurance Planning" or do you have a DBA? From my understanding you can use your name without having to register it with the DOBI but I have kicked around creating a DBA but then I feel I lose myself. Any suggestions?

Every appointment I go on I let the prospect know that I do not work for any one company like MASS, Pru, etc. I work for them, the client. I will always work for them the client. And I will never work for just one company. Doesn't mean I may not have access to the big companies, just means I'm not captive.

I would not put anything on my card other than (Last Name) Insurance Services.

 

[DHK]

Every appointment I go on I let the prospect know that I do not work for any one company like MASS, Pru, etc. I work for them, the client. I will always work for them the client. And I will never work for just one company. Doesn't mean I may not have access to the big companies, just means I'm not captive.

I would not put anything on my card other than (Last Name) Insurance Services.

I completely agree with your post, but I'm going to nitpick on that last recommendation. I would do (First and Last Name) Insurance Services. Otherwise, with last name only, you'd have to file a DBA and get approval from the state DOI.

Business Entity Application Procedures - Name Approval Criteria

But each state is different, but this is a good guideline to follow.

 

[Markthebroker]

Just wondering Mark, do you sell some sort of referral generating method? Because every post you put up where someone asks for sales help your response is "just get referrals and your life will be sunshine and roses." Did you even read the OP? He wasn't asking for help getting referrals. You've never gone to one of your golden referrals and had them say words to the effect, "I really like my Prudential agent, why should I switch?"

Well, that does happen, sort of. I qualify first, so I rarely go on an appointment unless there is a good chance of them buying. I use a very specific system to ask for referrals, so I get an average of 3 right off the bat per sale. 60% buy, so every 10 sales turns to 30 referrals, turns to 20 sales to 60 referrals to 40 sales and so on. Of course some people are already happy with their agent so that's why it's 60%.

 

[DHK]

Just wondering Mark, do you sell some sort of referral generating method? Because every post you put up where someone asks for sales help your response is "just get referrals and your life will be sunshine and roses." Did you even read the OP? He wasn't asking for help getting referrals. You've never gone to one of your golden referrals and had them say words to the effect, "I really like my Prudential agent, why should I switch?"

Whether Mark has something or not... I'll answer anyway because I could tell with your quote of "I really like my Prudential agent"... is improper positioning.

My favorite coach for learning how to obtain referrals is Sandy Schussel. He has his referral training for $37. (And no, I don't get anything for posting the link.)

Products

The key to asking for referrals is to not make it about you, your need, or your 'greed'. Needy is creepy. But you make it about the experience you give to your clients and how you help them to make educated financial decisions that feel right to them.

I admit - it does depend on the premise for why you're meeting and if you deliver a different and unique experience than they would otherwise have had with another advisor. If you have both of those things (or at least believe you do), then integrating Sandy's method is a piece of cake.

If you're only doing a features/benefits/price presentation with a mild suitability check... you'll have a harder time asking for referrals using his method.

 

[somarco]

The key to asking for referrals is to not make it about you, your need, or your 'greed'.

THIS ^^^^^^^^^