I believe this holds true for about anything a person is trying to market or sell. If you believe in the “10/3/1” formula, then you know what I am talking about. You know, you get 10 leads, make 3 appointments and it typically results in one sale. Now, I agree that the formula is for the average salesperson. Many of you do much better than that. Once the first sale is made, we all work for referrals and additional business from the new client. Wait, I think I should back up for a second. We all seem to use the term “client” a lot when describing the first sale. I believe that the first sale makes them a customer. Our future actions will determine as to whether or not they become a client. Let’s investigate: Most experts believe that the first sale means that the consumer is trusting you with part of their assets, not all of them. They will then observe how you keep the promises that were made and the additional value that you bring to them. That is where we think we can help. We provide ample services designed to retain clients and help you provide the best services to them. We provide content that you can drip on your clients and prospects on a regular basis. We assist you in helping clients and prospects go to your website, and if you don't have one, we can develop and manage the website for you. In summary, we assist you in your efforts to be the “go to” person when considering additional purchases. This also helps you get the referrals that you desperately want. So, let’s think about it. We have the digital marketing program to generate and provide you with bona fide leads at one of the best costs in the industry. Ladies and gentlemen, the cost to obtain the second sale and referred leads is very low. In summary, if you want to increase your sales, lower your acquisition costs, and be the go to person in your area, you need to speak with one of our marketing consultants. Territories are still available. My wife and I took a one night trip to a great city. Went to dinner and a show and explored the next day. We checked out of our hotel and went to the historic district to tour. But first, we needed to find a place to park. We pulled into a spot on the street that had numbered spots. Of course, we were supposed to put in a credit card, our spot number, and then pay for the amount of time that we would need. I had to make a decision. Do I pay for more time than I think I need to play it safe? Or risk a shorter time and save a couple of bucks. But it got me thinking about our lives, our clients’ timelines, and the parking meters of life. Please read on… What if our lives had a meter and we knew exactly when life would end? I guess that would make it easier for lifetime income needs. I don’t know about you, but I don’t want to know that date. I think our clients and prospects feel the same way. But most don’t want to take chances and they need their “income meter” to keep going and protect them for as long as they live. Isn’t that what we provide? An income that they can’t outlive? For as long as they live? With no losses to principal and previous gains? Isn’t it wonderful that we can ask our clients, “How much do you need and when do you need it?” We are then able to give them a number to place in their fixed index annuity, and guarantee that that amount of money will be there for as long as they live, even if the meter says… time expired. Make sure that your clients don’t outlive the amount of money that they have in their retirement meter. I just thought that now would be a good time to remind ourselves as to what keeps our clients up at night. I am confident that most of your clients have at least one of these worries: Loss of Income...As we get older, the size of the "pile of our money" is less important when compared to the income it will produce and the length of time it will continue. Sometimes with age we regress. Early on, we wanted to know what the monthly payment for that car, house, etc. was. Now we want to know what the monthly income I can derive from my nest egg is. Loss of Life...Yep, really important. We all know that in the case of a married couple, the smaller social security check will go away at the death of a spouse. That will probably cause a problem. Maybe a life insurance policy will help ease the pain. And what about additional life coverage to pay for the final expenses? We can ease the financial burden if we play the cards right. Loss In The Portfolio...Sure, when we were all young and dollar cost averaging, a market downturn could be viewed as an opportunity. But what about if you are nearing or in retirement? I don't think so. The stakes are much higher, and a significant loss could severely impact your standard of living. Loss of Independence...The inability to do the activities of daily living is a big one. An assisted living community is expensive. Could it be time to present a long-term care solution? Maybe a life policy or annuity that has accelerated or enhanced benefits if your client is not able to perform 2 of the 6 activities of daily living? That may help... Legacy PlanningSure, we want to pass on what we have learned, and maybe a little bit of what we have earned. Remember, life insurance goes directly to the named beneficiary, bypasses probate and is free of federal income tax. Maybe it’s time to rollover unneeded assets for income into a Single Premium Life policy with enhanced benefits. I know that you are all aware of the big "L" issues. But, is your client? It is our duty to help. How can we help you, help them? To be successful, hard work is probably one of the biggest factors. I had two great parents who instilled a work ethic. I started mowing yards at 10 years of age, earned an allowance by doing chores, and learned many skills in the home. Bottom line, even though I played sports all year long, I managed to find time for part time jobs. So, maybe the lessons I learned early in life prepared me for what was to come. You see, I have tried to pass down what I have learned. Those listeners know that, in our world, the most important people are the advisors that do business with us. We also realize that each Ohlson Group associate is as important as the associate working next to them. I also think that passing down what I have learned to the agent in the field could reap rewards for our agents. Why? Because I have truly walked a mile in your shoes. But passing down what you have learned will be far more important to the current and future generations. Not learning just about the successes, but also of the failed attempts at things. Teaching others that failure is the greatest recipe for success. In our business, we need to pass down what we have learned to our clients and prospects… and to their kids. What about volunteering to teach a personal finance class at a high school? Maybe coaching a little league team? Or sitting down with younger people urging them to reach deep and become someone special? Advise them that time is the one thing you can’t get back. Each time you do that, you have an opportunity to change and enhance someone’s future. Bottom line, we all have the opportunity to make a difference in people’s lives, no matter who you are: parents, grandparents, teachers, police, financial services professionals, etc. So, if you are looking for another reason to do what we do, pass along what you have learned and enrich people’s lives one person at a time. And, in closing, maybe Ohlson Group has learned a few things that can help you. I am confident that there are things you have learned that can help us. Because at the end of the day, when your last press release is the obituary, people will continue to speak about you for passing down what you learned, not just what you have earned. I recently read this line in a publication and it really hits home, as time does go by so quickly. It made me think of our most valuable assets at Ohlson Group. That would be you… the independent advisor and insurance specialist that does business with our firm! Our business, and I'll even go as far to say life in general, is changing every day. Sometimes it might feel tough to hang in there while trying to implement new tools and strategies. I had an agent tell me, “I am just too old to change my way of doing business.” I wish I would have read the title of this commentary prior to speaking with him. Had I read the line, I would have told him that, “You will never be younger than you are today.” Look, like you, I can get challenged by technology. I need the kids to help me with my TV when I start screwing up the channels etc. But seriously, I, along with the staff, have been knee deep in what technology can do for you. It is not a case where we throw out what you are already doing. On the contrary, we embrace what you are doing and add another arrow into your quiver. Why not take a look at the tools we are providing to our associates in the field? Together, we can make this, sometimes daunting, leap into technology less stressful and highly profitable. No time to wait... as you will never be younger than you are today. Ask us about the digital lead program that we are now using with a select group of advisors. So, even though my hair is turning gray and my hairline continues to recede, I know that I will never be younger than I am today. Isn't this the time for all of us? Wow! Did we read that correctly? $107,146... that is the median annual cost in 2024 to receive services in a semi-private room. So as long as everyone has a couple hundred thousand dollars hanging around, they should be okay. But what if there is a spouse at home? Will they have enough cash to stay in the world that they have become accustomed to? Or even if they decide to stick to a tighter budget, what can they truly afford? Read on... I once attended a meeting where an elder law attorney talked about long-term care costs and Medicaid. He pointed out that many people don't have enough money to cover these costs. That's when Medicaid steps in, but only after you are impoverished. He also mentioned that fewer insurance companies are offering long-term care insurance. He spoke highly of asset based products and life and annuity products with accelerated benefits. As I sat there listening, I was perplexed as to why more advisors are not offering these products. Ladies and gentlemen, I am very convinced that these products are the "hot sellers" of the industry. Look, you pledge to give the best service to your clients. Are you doing them a disservice when you don't research, discuss, and present certain solutions? If you want to talk to someone who knows all about the potential products you could pitch your clients, give us a call at 1-877-844-0900, or click the button below to book an appointment with one of our knowledgeable marketing consultants. We have all heard the saying, "Life is short." We all know what that means. Time flies by, and the years seem to sail by as we age. When we focus on that, we usually think of things we want to do or accomplish and decide that we had better get on it. But life can also be very long, and for some, that could become a problem. Longevity is one of the greatest challenges people face when looking at their retirement income plans. We might just live longer than the actuarial tables predicted. According to many surveys, this is a leading concern for financial professionals when planning for their clients' retirement. For those in the investment arena, they try to have a good balance of conservative investment while keeping some equity stocks in the portfolio to preserve capital growth. Some pros will use bonds to take care of essential expenses. You know… the home, the loans, the utilities, etc. But sometimes life gets in the way, and there are some circumstances beyond our control that can derail the plan. A good example could be geopolitical events that shatter or upset financial markets. So, what about the client who does not want to take any chances? The one who just wants the guarantee? Well, the answer is obvious. Annuities with income options can provide clients with an income they can never outlive and peace of mind knowing that they can plan for their lives, no matter how long they live. There can be other factors, like a chronic illness or a long-term care event. And of course, we have those products and riders as well! What you can do is say to your client, "Tell me what you need and when you need it. I will give you the exact amount of money you should deploy in this annuity, and I will make it happen." Keep it simple, explain our products, and let people sleep at night. Because remember, life could be very long. Too many advisors today just try some new "Digital Marketing Silver Bullet" that they saw in a promotional newsletter. But they don't have a strategy. And without a digital strategy, you don't know if you are getting the attention of the right target market, at the right time, and with the right message. So, I want to ask you these questions:
The successful financial professional has a digital marketing strategy and they try to take the "guessing" out of what they do, focus on getting ahead of the competition, and increase the bottom line... while having fun. I once hear that the difference between strategy and tactics is, "Strategy is the what, why, where and when.” Tactics are, "How you are going to achieve the strategy?” Have I confused you? Do you feel like the digital wave is rushing over you and you are caught in the undertow? Many of your competitors are finding this profession to be a lot more fun and a lot more profitable after getting a digital marketing strategy down. If that's too much... let us help you! We integrate our proven digital marketing strategy into your overall marketing plan and continue to treasure and utilize traditional marketing tactics and skills. Call us today at 1-877-844-0900 or schedule an appointment and let us prove it to you. Isn’t it amazing how we look at the 10 day weather forecasts and plan so much around it? I'm unsure of the scientific proof as to the accuracy of these predictions, but I do know that we pay attention to those predictions. Whether it be heat waves, blizzards, or storm warnings, many life events can be altered to plan around said weather.
Take many hurricanes for example. They can really pack a punch and most have no idea the potential severity when looking at the forecasts. It is only after the storm passes that we see the true damage. Not only is this true with weather and storms, but also our lives and our clients' lives. We work in one of the most fascinating industries in my eyes. We get to help weather the financial storms and help those who got caught in the rain. We need to tell our clients that there will be financial storms on the horizon, and we don't know what the true effects will be until after this storm passes. And, unlike the younger generation, we “mature” Americans don’t have the time to rebuild. So, are you talking to your prospects and clients about the “10 day forecasts?” If not, maybe you should be. Tell them to imagine a product that allows them to share in the upside, never take a loss, and have an income that is guaranteed for the rest of their lives, regardless of any 10 day forecast. Need additional selling tips? Call us today at 1-877-844-0900 and we will help. "Life is too long..." Nope, that is not a typo. I know that you have heard the expression, "Life is too short...” Yes, we all know the meaning behind that saying. I ran into one of my son's Nick's friends this weekend and we were speaking about a myriad of topics. He said while talking about my future, "Ray, life is too long. You could be around for another 30 years. Have fun and be happy." Well, I am doing both, but his statement made me think about what we do for a living. We help people retire with dignity, without risk of losing principal or gains, and create an income that our clients can't outlive. Yes, we address the issue that, "Life is too long.” I just read an article once that had the title, "Claiming Social Security Early Could Lead to Poverty Later in Life.” The article went on to say that you can get the reduced amount early, but if you died early, you would beat the system. Problem is, prices go up and most are sorry that they took Social Security as early as age 62. Try this one on. In 2015, 33% of men and 40% of women took Social Security at age 62. Why? Simple, they needed the money to get by. Let me propose a different solution. If your client needs income now, take some of his cash and buy a short SPIA that will provide income until your client is age 66 plus for full benefits (maybe even age 70). Then, if possible, have him purchase an FIA with an income rider that will begin payout when the SPIA ends and tie the amount into the Social Security check the client will receive at age 70. Remember that the Social security payout grows by 8% compound interest all the way to age 70 (that is from age 66). Plus, by waiting, the surviving spouse would get a much larger survivors check if the spouse dies. The bottom line is, we have the tools, the presentation, the script for the "Personal Pension Plan". Why don't you set an appointment with us a call and we will give you a "Personal Pension tour." Who knows, this might increase your retirement income! Until next time... good selling |
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