Seminars Cost Etc

How many of you are currently doing or have done
Annuity seminars? What did it cost per semiar?
How much production did you average?

Right now I'm looking at spending a little over $5000
Per seminar. 10,000 piece mailer plus food.
My fmo says they have averaged above a .50% conversion ratio with their mailers and an average of $800,000 per seminar in production.
 
Haven't done any annuity ones but I've done some social security seminars. Cost is usually around $7,000 but I used an outside company to handle the mailers/reservations which was a big part of it. The rest was venue and food.
 
5 to 7K is correct. As far as conversion it depends which part of the country you're in. As far as production you're building a client base. You're not rolling 50 to 100 K on the first appointment. You build trust them work from there. You'll need a 30K bankroll at least or forget it.
 
Agreed, the sales process is SLOW from seminars. It's more about building trust/image. I used it as a client appreciation event then filled the rest of the seats with strangers that fit criteria recommended by the people booking it.

That guy you sold a term policy to a year ago and wouldn't listen about investments/permanent insurance, just wanted the cheapest term you could find, etc comes out for the free dinner and brings his wife and his neighbors, hears what you say and starts wondering why the hell the guy he's been using hasn't mentioned any of this (or even better, starts thinking he should stop doing this on his own and talk to someone). Now he's already a client from that term policy, trusts you a bit more, may have brought you another lead, and you've hopefully piqued his interest enough that he may sit down with you to talk about his investments instead of his old guy. Just don't expect it to happen over night.
 
5 to 7K is correct. As far as conversion it depends which part of the country you're in. As far as production you're building a client base. You're not rolling 50 to 100 K on the first appointment. You build trust them work from there. You'll need a 30K bankroll at least or forget it.

I don't know why anyone would invest time and money on a direct mail or seminar campaign and not attempt to close early and often and claim it's profits. Plenty of other free avenues to network and 'build' 'relationships' over time.

-king
 
I don't know why anyone would invest time and money on a direct mail or seminar campaign and not attempt to close early and often and claim it's profits. Plenty of other free avenues to network and 'build' 'relationships' over time.

-king

Some take that approach and honestly admit they are going for quantity and maybe even just staying satisfied going after the low hanging fruit on the tree. The guy I have in mind with this attitude operates out of Chicago so he can afford to go for quantity. If he can't close on the first visit (sometimes he will have a second, but rarely only if things look very promising), he moves on.

Many of us are in smaller populations where you have to nurture what you are lucky enough to get in the door. I go along more with the idea that you need to convert your leads into clients more than convert your leads into an early close.

I'm more into the idea lately of doing lots of seminars for a year, close all I reasonably can, then spend the following year with referrals and building up the base. I did no seminars at all this year. I think I'll start up again in January. There's lots of new stuff to talk about and new approaches that you don't really have time to see if you're doing a seminar every month.

A friend has been doing a seminar every month for around 15 years. Now he's changed to every 3 weeks since his total income has been dropping. Is doing the same thing more frequently the right move -or should he be stepping back to see what he's doing wrong?

Personality and style play a big role here also. I'm not someone who is comfortable rushing things and doing the hard sale. The guy in Chicago I mentioned has no problem at all standing up 10 minutes into a first visit and telling someone "Sorry, it looks like there isn't anything I can do for you, but thanks for coming in." He brings the next couple in, rinse and repeat.
 
5 to 7K is correct. As far as conversion it depends which part of the country you're in. As far as production you're building a client base. You're not rolling 50 to 100 K on the first appointment. You build trust them work from there. You'll need a 30K bankroll at least or forget it.

The first appointment is the seminar...the second is the fact find/interview and the next is the close.

Everyone else goes to the drip/do you know list (depending on their status).

If you're focusing on people with 50-100k and doing seminars you're likely going to go broke....
 
I don't know why anyone would invest time and money on a direct mail or seminar campaign and not attempt to close early and often and claim it's profits. Plenty of other free avenues to network and 'build' 'relationships' over time.

-king

The first appointment is the seminar...the second is the fact find/interview and the next is the close.

Everyone else goes to the drip/do you know list (depending on their status).

If you're focusing on people with 50-100k and doing seminars you're likely going to go broke....

The reason this is not the case for our guys is because they don't do annuity seminars. They do planning and educational seminars. I'd say about 90% of our guys are securities licensed and looking for a client to plan for long term not just sell an annuity to. I'd say 3-4 appointments till a transaction is done.
 
Selling an annuity is a long term plan. It just needs to be done right..
Source:.Me Former securities licensed financial advisor.

Most of My Clients aren't in the accumulation phase they're in the preserve and keep pace with inflation phase/income phase.
 

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