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Magnetic marketing brings prospects to you

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I believe marketing must have “magnetic” qualities. The producer must use strategies and systems that attract people to his front door.

Many available systems can help the producer attract qualified prospects. He should be selective, however, because many are more beneficial to the promoter than the end user.

Seminar selling systems seem to be popular, but they also have drawbacks. They might make the producer sound and look like everyone else. The promoter will usually want an override on the producer’s production. And they are expensive and time consuming.

Two of the best ways I’ve found to draw in prospects:

? Partner with an association

Association marketing programs might give the producer another avenue to promote his services. There are thousands of associations with which to work. They all seem to have members who are looking for benefits. Associations and clubs can range in size from a few members to tens of thousands.

Contracting to supply financial services to association members brings several advantages:

1. Validation by the association leadership will give the producer credibility.

2. Clubs and organizations often will pay for internal promotion.

3. A captive, loyal target audience is assured.

4. All prospects are pre-qualified and most will call for appointments.

? Position yourself as a local expert.

In my opinion, there is no better way to reach more people for less money than through the media. I am not talking running ads in the local newspaper, on television or on radio. These can be effective tools but they are costly.

What if the producer could reach thousands of people by writing articles for his local newspaper?

I attended a conference recently, and no one to whom I spoke was writing for his or her local paper. It’s not easy to get in the door, and the producer must deal with an array of obstacles — the most challenging of which might be his own compliance department. The results, however, can be worth every barrier he faces.

For the past several years, I have published locally, with outstanding results. The producer who does this can:

- Become the go-to person in his area for financial and insurance services.

- Meet high quality prospects.

- Get interviews that are short and to the point.

- See a steady stream of prospects.

- Achieve a closing ratio of above 95%.

- Get highly pre-qualified prospects to call him.

The producer’s goal should be to help as many people as possible, and it won’t always be profitable. Not everyone who comes in the door will be an A client. If the producer treats everyone fairly, though, the good word will spread and qualified prospects will call.

Editor’s note: The preceding is an excerpt from “Magnetic Marketing to Attract Prospects,” by Fred Hackney, which originally appeared in the July 2003 issue of Life Insurance Selling. To read the full article, click here.

To read last week’s Words from the Wise, click here.

For more marketing tips, see:

How to market like a top producer

The art of target market prospecting

The power of permission marketing