Tackling the world of financial planning with a more studious approach could make all the difference for a successful 2010. By learning to focus closely on building relationships with your prospects and spending more face-to-face time with clients, you’ll make more effective use of your marketing dollars.
If science hadn’t worked out so well for Mr. Pasteur, he could have had a fine career as an advisor. True, not much room for beakers, labs and bubbling chemicals in the financial services industry, but there is plenty of room for prepared minds–particularly before heading out to meet with potential customers or in crafting a killer marketing plan.
Great sales boil down to knowledge–yes, certainly knowing your products and services, but knowing your prospect. That knowledge can make all the difference between a sale and a door slamming in your face. Any rainmaker will tell you the more you know about your future customers, the better chance you’ll have of walking away with a sale. Know your prospects inside and out (tastes, likes, dislikes, boxers or briefs) and you’re on your way to standing on top of your sales goal waving a victory flag.
Here are some tips to help you sharpen your marketing strategies for 2010, based on recent surveys of seniors‘ thoughts on financial issues:
1. Add a new shine to your retirement, tax planning and investment planning products. These days seniors are interested in, and seeking advice on, retirement, tax planning and investment planning. And of the three, planning for retirement is high on their agenda.
Why? Honey Leveen, a long term care insurance specialist in Houston, Tex., believes “all the news about looming federal bankruptcy and the tanked economy may be motivating more people to act.”
So take some time to analyze these three offerings by practicing your delivery and examine ways to weave them into your advertising.
2. Focus on taxes, wills, investments and retirement preparation. The next tier of items of interest includes learning how to minimize income taxes, write a will, choose investments and prepare for retirement. Consider putting these items on the top of your agenda at your next seminar.
Curtis V. Cloke, a financial advisor and agent in Burlington, Iowa, adds that minimizing taxes is the key to showing how to position seniors’ assets so they use less of their total resources to generate the needed net income gap in retirement.
“This will leave more to grow allowing the chance of their assets lasting longer in their retirement years,” he says. “Addressing both wills and other estate planning discussions will go a long way in the effective transition of transferring their assets to the next generation.”