My favorite agent quote is common. It goes like this: “I just want to sell.”
Most agents can’t wait to tell you about the features of their “hottest” annuity product.
The reality is that most annuity agents aren’t marketing at the level they should be.
Selling is the result of marketing: Focusing more on marketing and great service will bring sales.
Set a marketing budget first, keep the clients you do get happy, and money for all the other expenses will follow.
1. Freshness
Ruts from the Oregon Trail are still visible in many locations.
Too many agents in the annuity business use strategies that are about as old.
Numerous tax, demographic, and investment changes each year allow for new selling opportunities.
If you do not keep up with the industry and with changes, then you risk the possibility that your clients will move beyond you.
2. Lead Generation
One thing that goes stale is how agents get the names of potential prospects.
For many agents, outsourcing lead generation to a professional marketing system could be a smart move.
3. Drip System
One place to seek leads is your client list.
Communicating regularly with existing clients is essential to gleaning additional business and quality referrals.
Many outside companies can help you accomplish this by putting out a monthly newsletter, making annual phone calls and sending out email announcements.
And make sure you have a way to follow up with clients who are interested in hearing more.
4. Attitude
Many agents play the blame game and, in doing, so move from an aggressive marketing attitude to one where the atmosphere is negative.
These situations will expand to other agents, employees, and families.
Things happen, and positively dealing with those things will work wonders for your bottom line.
The most significant negative is using market conditions as an excuse for poor sales.
People are always worried about what the market has done, or will do.
If the stock market is down, the right annuities will provide safety and security.
5. Value
Failing to provide value to your client base and to your new prospects is a huge mistake.
Giving value, such as information without strings attached, is a solid way of building relationships based on value.
Value provides the basis for beginning relationships.
6. Transparency
Be transparent; you have nothing to hide.
Clients don’t want a know-it-all; they want someone who takes the time to find out how they feel.
If you don’t have the exact answer to a question, just admit it and turn that into a next appointment.
7. Fact Finder
Lastly, make sure your business is fact finder-based because, if you don’t ask the correct questions and expand your conversation, you will never know how they feel.
Remember, it isn’t about facts; it is about how they feel about the facts.
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(Image: bnenin/Adobe Stock)