Advanced Marketers Move Sales Ideas From Birth To Rollout
Sales professionals in the field are always clamoring for new ideas to help them plan for their clients. Today, the task of developing an idea, researching it and presenting it to the field falls more than ever to advanced marketing professionals in the home office, according to presenters at this year at LIMRAs advanced sales conference.
Advanced marketing professionals say that most of the new sales ideas they get come from their own field representatives, but add that after careful examination, the newest ideas brought to their attention are often concepts that have been around for some time.
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“Theyll come to you with a brand new idea, but its not really new at all,” said Paul Samuels, vice president of advanced sales at Western Reserve Life Assurance Company, during a breakout session at the meeting.
“There have been changes in tax laws, changes in demographics, but a lot of the new ideas are not really new,” he explained.
For example, Samuels said many agents refer to 412(i) plans as a hot new idea, but in reality, “they have been around for a long time, its just the landscape thats changed.”
When an agent presents a new idea for consideration, Samuels asks: Is this a result of a new ruling? Or, is someone looking at part of the tax code in a way it was never intended? Samuels feels that about 95% of the new ideas he reviews are the latter.
This is why, as many advanced marketing attorneys say, the role of the advanced markets professional is to act as a gatekeeper and provide the first line of defense against sales ideas that abuse current tax laws.
Once an idea is brought to the table, the advanced marketing professional “is the lead person to analyze the risks–what they are and how do we mitigate them?” said Deborah ONeil, a vice president at AXA Financial, New York.
While researching a specific sales idea, ONeil recognizes that most ideas have some degree of risk. “If you go forward [on an idea], you have to think about how you want to minimize the risks,” she said.