I want to share a simple concept that will explode your business.
Many advisors and agents will read this post but a very small percentage will implement the suggestion. They just won’t be able to get their head around this concept, as simple as it is.
Here’s the concept: Sell what people want.
You probably think you already do this but you don’t. Let me share some data with you.
I have been running ads on the Internet for the last 15 years. I guess I have invested over $1 million. My target market is people age 50 and above. By testing a variety of ads and then watching which ads get the biggest response, I know what people want.
I have run ads on the following topics among others:
If I tell you which of the above topics gets three times as much response as the others, would you figure a way to utilize that information to explode your business?
Before I disclose the winning topic, let me illustrate one way that brilliant advisors generate more business than they can handle. They buy or start a tax return preparation business.
People don’t have to invest and people don’t have to buy insurance but they do have to file a tax return. So if you offer what people want (or in this case, what people need because the law requires), it becomes much easier to attract prospects.
Does this concept make sense--to offer people what they MUST HAVE or what they REALLY WANT?
Who cares if you only break-even having workers in your office preparing tax returns during tax season? You end up with a huge mountain of information about the prospects' finances and gain instant investing and insurance clients.
H&R Block did this in reverse. It was a brilliant idea. H&R Block started a broker dealer and an insurance agency and pursued selling investments and insurance.
Unfortunately, they did not have very qualified people offering investments and insurance. This is a mistake that banks and other financial companies make when they are unfamiliar with how to sell investments and insurance. They try and hire people cheaply rather than paying full commissions and the effort fails (H&R Block sold the broker dealer).
But hopefully, you get this idea of using a product or service on the front end that people really want or really need and using that as a feeder to your investment or insurance business.
The most requested topic by a margin of 3 to 1 in the above list of ads is Social Security. Just about everyone at age 62 qualifies for Social Security. And they all want to know how to get the biggest check. So if you offer that assistance as a front end offer for your business, you will also be the one to get their investing and insurance business. (Of course, you should also charge for this service).
How do you learn enough to offer that service? Pretty simple.
You study a copy of the book, ” Get What's Yours: The Secrets to Maxing Out Your Social Security.” You also get the software offered by the author at https://maximizemysocialsecurity.com/advisors.
Here you can get leads from Facebook of people looking for social security advice.
So instead of selling what you want, would it be a better idea to sell what buyers want?
As stated in the beginning of this post, I doubt that very many agents and advisers will wrap their head around this concept. I fear they are too nearsighted and will worry about how they’re going to sell their insurance or investments when they start talking about Social Security.
Unfortunately, these are the advisors and agents who still do not understand the difference between marketing and sales.