We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Better Prospecting: Navigating the sea of annuity marketing methods

    February 23, 2010 by Kim Magdalein

    Published 2/2/2010 

    If you have an insurance license and have inquired about annuities from any marketing organizations, you have, no doubt, been deluged with annuity marketing methods. It is easy to get caught up by the “idea of the week” from various marketing organizations. Beware, not everything you see or hear is valid.

    A few years ago, I went to an annual event that featured dozens of marketing organizations, insurance companies and support programs. All of them were the “very best.” Each one was “all you needed to be successful.” While most were legitimate, some were not. Unfortunately, when you try something new, as I’ve stated before, you’ll spend time, resources and money going through a learning curve. This learning curve can be very discouraging to an enterprising agent, especially if the process leads to a dead end. While I was at the conference, I was invited to a roundtable discussion with half a dozen proven and highly successful producers. We convened for several hours. While some of the discussion was productive, I found it to be a fishing expedition to find “secrets to success.” One of the “top producers” offered a marketing approval that he claimed worked well for him. When I questioned him on the details of his program, he stumbled through his explanation. His idea sounded good, but in practical application, it was doomed to failure.

    Evaluating programs

    Because there are numerous annuity prospecting programs, proper due diligence is essential. Here are a few criteria to study:

    1) Have you heard of it before? You don’t want to be the guinea pig experiment. You also don’t want to be used to sell a few annuities until the next sucker comes along. The proper prospecting method should have a proven track record.

    2) Can you speak to one or more uninterested, non-participating users of the prospecting method? They will give you the good and bad about the program. Since there are no magic bullets, hard work will follow. What are the procedures that may be difficult to implement?

    3) Have you been referred to the method by a practitioner? Excellent!

    4) What is the promoter of the program getting out of your participation? The promoter’s deal may be perfectly acceptable, but they may be getting something for nothing.

    Prospecting procedures

    The methods that have been most successful with consistent results are: 1) Seminars; 2) Referrals; 3) Direct Mail; and 4) Drip Mail, including newsletters, both print and electronic.
    Prospecting procedures will also include other steps:

    1) Initial Contact. The initial contact to make an appointment may be successful. If you are able to make an appointment initially and get sale right away, the follow-up procedures (e.g., annual reviews) will gain additional sales.

    2) No appointment/no sale follow-up prospecting. After you have established a personal contact with a prospect and have identified him or her as a qualified (has money) prospect, then follow-up procedures may renew the appointment for further sales efforts. Just because you don’t get the sale the first time doesn’t mean you won’t get it later if you keep the door open. A good one-card system can help with this or a contact management system.

    3) Cross-selling other products is, of course, another way of staying with a client over the years. Whatever procedures are used must be consistent and persistent. The law of large numbers still plays a huge role in the success cycle of prospecting for annuity sales. The scope of your prospecting should include some type of large number effort initially to get the ball rolling with real momentum.

    Kim L. Magdalein is a producer and owner of PresentYourPractice.com. He entered the industry in 1985, and went into private practice in 2001 serving the Jacksonville, Fla., retirement community. He has personally presented hundreds of seminars and created a thriving practice. He created Present Your Practice in 2004 to serve producers with seminar productions and methods for optimizing seminar attendance with qualified prospects. He can be reached at (800)909-9894.

    Originally Posted at Life Insurance Selling on February 2, 2010 by Kim Magdalein.

    Categories: Industry Articles
    currency