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For those of you that offer other products besides medsupp/MAPD, at what point in the relationship with the client do you have the most success in upselling? I realize answers may differ depending on if you're offering final expense, retirement financial planning, etc. Do any of you have a repeatable process that yields somewhat consistent upselling results over time to folks whose only reason you met with them in the first place was to help them with their Medicare insurance?
I've been selling Medicare products for just over 3 years now, but my passion is retirement income planning. I've put in hundreds of hours studying and developing tools that can show clients how to create the largest sustainable income stream possible in retirement using the least amount of assets to do so, all while minimizing the chance they'll outlive their money. I know I can do a better job than almost every advisor out there specifically for folks nearing and already in retirement because I'm a specialist in "decumulation" as opposed to "accumulation". The 2 stages of financial planning are as different as night and day and each have completely different risks involved. Very few advisors are trained in decumulation planning. However, it seems next to impossible to transition from being the "Medicare guy" to their financial planner too. Everyone seems to fall in the categories of: no money, already have an advisor they're happy with, or want to do it themselves.
For anyone who upsells other products on a regular basis, do you do it at the same time (or within a short time) of selling the medsupp, or do you find more success several months or maybe a couple years after initial contact as your relationship grows and now they trust you? If you get more sales at the outset, what strategy do you think gives you your edge: quality of fact finding, asking the right questions, other? If you have more success later, what marketing method generates the most sales: newsletters, specific letters to targeted clients letting them know a specific product you're offering, other?
I've been selling Medicare products for just over 3 years now, but my passion is retirement income planning. I've put in hundreds of hours studying and developing tools that can show clients how to create the largest sustainable income stream possible in retirement using the least amount of assets to do so, all while minimizing the chance they'll outlive their money. I know I can do a better job than almost every advisor out there specifically for folks nearing and already in retirement because I'm a specialist in "decumulation" as opposed to "accumulation". The 2 stages of financial planning are as different as night and day and each have completely different risks involved. Very few advisors are trained in decumulation planning. However, it seems next to impossible to transition from being the "Medicare guy" to their financial planner too. Everyone seems to fall in the categories of: no money, already have an advisor they're happy with, or want to do it themselves.
For anyone who upsells other products on a regular basis, do you do it at the same time (or within a short time) of selling the medsupp, or do you find more success several months or maybe a couple years after initial contact as your relationship grows and now they trust you? If you get more sales at the outset, what strategy do you think gives you your edge: quality of fact finding, asking the right questions, other? If you have more success later, what marketing method generates the most sales: newsletters, specific letters to targeted clients letting them know a specific product you're offering, other?
