Just set a huge meeting

[sbg_ben]

Hello,

I just sent an email and got a meeting with a school district that has 750 employees. This is by far the biggest opportunity I’ve been able to create for myself.

I would love to close this group. Yes I know schools are really difficult, luckily I know multiple agents with experience in dealing with them. I just need some advice on closing on a large group sale. I feel like in our past large group meetings we have been lacking in some way but I can’t figure out how.

I’m excited and nervous and just looking for any advice you all can give me

 

[rousemark]

Hello,

I just sent an email and got a meeting with a school district that has 750 employees. This is by far the biggest opportunity I’ve been able to create for myself.

I would love to close this group. Yes I know schools are really difficult, luckily I know multiple agents with experience in dealing with them. I just need some advice on closing on a large group sale. I feel like in our past large group meetings we have been lacking in some way but I can’t figure out how.

I’m excited and nervous and just looking for any advice you all can give me

How do you (or your company) differ from the other 22 agents that these folks have talked to over the past few years? Come up with an answer to that question and concentrate on it during your presentation.

 

[VolAgent]

You need to determine what their pain is. Why are they no longer with any of their previous agents? Why are they still looking and talking to agents?

Figure out what is driving them to keep doing this and solve it. Also you need to figure out who is driving the bus, the professional staff or the elected school board? You'll need to make sure you solve their problem without ignoring the other party too. Finally, sometimes these things can get very political, so check out the landscape.

 

[EugeneM]

I would try to get a good understanding of their decision making process. A lot is going to need to happen to move 750 ee.


Its September so its probably a 1-1? Have you seen their 5500? If you don’t have access to it try brightscope (linked in n outs as an example) I use it to get FEIN’s and plan info on prospects. The plan admin etc… Search under the 401k option then 5500 form data.


Check how many years they have been with their current agent. The relationship with the current broker is going to be your biggest hurdle imo.

I have seen a boker on an account for 20 years replaced by wells fargo. (decision makers private banker)


https://www.brightscope.com/#/401k


https://www.brightscope.com/form-5500/basic-info/424596/In-N-Out-Burger-Inc/430172/In-N-Out-Burger-Associates-Profit-Sharing-Plan/2016/

 

[leevena]

Try to get minutes to their meetings, usually available on line. Often times there are good bits of info.

 

[Rugby1969]

Leading up to the meeting find out as much as you can about the plans they offer, funding structure, competition, etc. This will give you confidence going in and maybe allow you to come up with a preliminary strategy. Sometimes I'll bring in good coffee and pastries for the entire office to enjoy too. Also, generally groups this size move very slowly, so don't be discouraged, this may take some time before you become their agent.

 

[ebayn001]

Question: Can the School District change agents without an RFP?

 

[leevena]

Leading up to the meeting find out as much as you can about the plans they offer, funding structure, competition, etc. This will give you confidence going in and maybe allow you to come up with a preliminary strategy. Sometimes I'll bring in good coffee and pastries for the entire office to enjoy too. Also, generally groups this size move very slowly, so don't be discouraged, this may take some time before you become their agent.

I would skip the coffee and pastries. Public groups often have restrictions against staff being given gifts.

 

[Markthebroker]

When you do the presentation, just relax and imagine you're in your underwear. Wait, wait. Imagine I am in my underwear. Hang one, hang on imagine that VolAgent is in his underwear.

Crap, I can remember how that works, but someone is in their underwear, and then you nail the presentation.

 

[somarco]

I can remember how that works, but someone is in their underwear, and then you nail the presentation.

What was in your email? What was their response? What line(s) of coverage are you hoping to take over? If this would be your largest client with 750 employees, how large is your #2 client?