100 best sales & marketing ideas: 61-70

65. Don’t make charitable bequests in your will.

Why give stepped up basis assets to charity and retirement ordinary income assets to your children? Instead, separate the amount you want to give to charity from your retirement accounts into a separate IRA, with charity as the beneficiary. Suppose a client couple, aged 60, has an estate of $3.5M with $1M in an IRA. Their will provided $250k to a local cancer treatment hospital upon the death of the surviving spouse. That’s almost tithing. Instead, we carved out $250k to separate the IRA, with the spouse as the primary and the charity as the contingent beneficiary. We then put the $250k into a guaranteed minimum income benefit variable annuity that kicked out $12,500 taxable. They then contributed the $12,500 to a charitable trust, deductible up to AGI limits, and funded a $1M survivorship life policy. Now the  charity gets $1.25M at the death of the surviving spouse (5-fold increase) with no additional cost to the clients.

— Herbert K. Daroff, J.D., CFP, Advanced Markets Director, Financial Services Representative, Financial Advisor, Baystate Financial Planning

64. Become a contact in your prospect’s phone

Despite the exponential growth of smartphones, most people use their device to talk on the phone only 7 percent of the time. That means it’s harder for you to reach your prospects and clients.  Becoming a contact in a prospect’s phone increases your chance of actually speaking to them.

You can do this in two ways: When you meet someone you are interested in continuing a conversation with, pull out your phone and immediately ask them for their contact information.  As you create the contact, say “Here’s my information,” thereby encouraging them to follow your lead. The next time you call, you come up as a name. It makes all the difference!

For referrals, ask your client to text their referral. Have them compliment your work and add your contact info. Notice I’m assuming you’re a contact in your client’s phone. When you call the new person, they’re more likely to pick up.

Have you told your clients to put you into their smartphone? If not, they may not pick up when you call unless they’ve memorized your phone number. (Hint: They haven’t!)

This little suggestion may improve your ability to speak to more people per week.

 — Gail Goodman, The PhoneTeacher

63. Build trust with righteous reviews.

Studies show that, in general, people like to do what others are doing, especially in situations where they feel insecure. That fact can be emphasized by another fairly understandable statistic: Customers are more likely to make a purchase from an entity that can produce favorable reviews about their product, service or company. In fact, according to a new survey conducted by Dimensional Research, an overwhelming 90 percent of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86 percent said buying decisions were influenced by negative online reviews. Prospects want to know that the person who wrote the review really exists, so be sure to list real names and the date of the review (with permission of course).

— Brian Greenberg, CEO/Founder, True Blue Life Insurance

62. Put family first to grow and retain business.

Advisors looking for a fresh approach to growing and retaining business should start with current clients and their families. Clients who are in their mid-60s and beyond who have children and grandchildren are a prime source of business. The strategy for selling to this dynamic relies on the emotional connection among these generations, especially the fierce bond between grandparents and grandchildren. Advisors who talk with clients about creating a financial plan that satisfies their needs but also provides for grandchildren is a win. Variable annuities are a perfect tool for this model. As a complement to a smart investment strategy, the variable annuity with Guaranteed Income Benefits and an optional living benefit rider at additional costs offers a tax-efficient income stream that can be passed to children and grandchildren – keeping it in the family and the advisor’s book.

–Michael Harris, head of the Advanced Solutions Group at Lincoln Financial Distributors

 61. Ask clients critical questions. Client conversations about retirement planning and annuities should start with the four basic planning needs in retirement: accumulation strategies, income sources and needs, healthcare expenses and leaving a legacy for heirs. Choosing the right approach means asking the right questions that will uncover your client’s most pressing needs: Are they worried about outliving their retirement nest egg? Are they concerned about a possible future health issue? What are their existing sources of retirement income? What percentage of their existing retirement income is protected from market volatility? Your client’s answers will help you identify the protection gaps that cause them the most worry. With this information, you can match your client with the product that will best fill those gaps.

– Mark Fitzgerald, National Sales Manager, Saybrus Partners

Editor’s Note: This is the fourth in a ten-part series identifying the best sales techniques for 2015. To view the rest of the series, click here.