ProspectMatch Makes Prospecting Fun

“I would like to make over $1,000,000 net the next three years and that is my goal…Thus far, I am very pleased with the response I am receiving from the [ProspectMatch] prospects as I never expected it to be this enjoyable. I sincerely hope it continues so that I can increase the radius of operation. — Martin G. Port Saint Lucie, Fl

To make your business and prospecting more enjoyable, call ProspectMatch 866-452-8354

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ProspectMatch Marketing to Seniors for Retirement Financial Planners

Seniors have the bulk of money in this country and as explained in “the Millionaire Next Door” by Thomas Stanley, wealthy seniors are in your own back yard. But many retirement financial planners complain that seniors are “hard to close” and procrastinate in making decisions. That’s true when YOU do not know how to communicate to them.

Sales people can be far more effective by understanding some common traits among seniors and how they make buying decisions. Any retirement financial planner must pay attention to these tendencies:

The Sample of One
Seniors have been alive for decades and they have accumulated more experience than those who are younger have. Therefore, it’s not surprising that they place great weight on their experience as their guide. However, I have noticed this reliance on personal experience taken to extremes, and I call this psychological attribute “The Sample of One.”

For example, if the senior had a bad experience in the market and does not want equities, don’t try and convince them!

Experienced sales people who know about the “sample of one” will accept it and move on. Experienced sales people know that the best way to help your prospect is to have them take action. Even if your recommendation is the “best” one, if the prospect is uncomfortable and does not act, then nothing has been accomplished. Experienced sales people do not waste time “arguing” the facts. The marketer, Herschel Gordon Lewis, himself a senior, says,” Seniors may not have seen everything on this planet, but many of them think they’ve seen everything.”

“Don’t Give Me What’s Best; Give Me What’s Comfortable”
In general, seniors are not optimizers; they are “satisfiers.” They are not seeking the best financial solution; they are seeking the solution that feels good, the solution that satisfies their desire for comfort.

Just today, I talked with a retirement financial planner who told me about meeting a retired couple who owned an annuity. They had a comfortable estate and no intention to ever use the annuity. He showed them the advantage of converting the annuity to a life insurance policy and how their heirs could benefit. They liked the idea.

Up until this point, all of the concepts were familiar—they knew about the annuity, they had some familiarity with estate taxes, and they had owned life insurance before. He then explained that they would hold the life insurance in an “irrevocable life insurance trust” and the deal died.
He killed the deal by using four words together that were totally foreign. They had no knowledge of an “irrevocable life insurance trust.” They got uncomfortable. No comfort=No deal.

Please keep this in mind. With seniors, you won’t get a second chance. Before ever mentioning a solution, you must have completed your fact-finding one hundred percent, which includes the emotional fact-finding (like/dislikes, biases, prejudices, preconceptions, etc).
Time Frame

Return calls quickly and respond quickly. If your prospect or client is retired, their schedule is not as cramped as your schedule. You may think it’s reasonable to return all calls within twenty-four hours. Many retirees will consider anything longer than an hour too long.

If your assistant takes the call and says you are on the other line, the senior assumes that when you finish that call, you will call back—and waits for your call. He or she has no idea that: you have a proposal due later that day, your hard drive has just crashed, you just got a referral to a $5 million account, and that he bank called to say that your business account is now in overdraft position and you better get down to the bank. They expect you to call back right away.

In a study by Prince and Associates of why investors changed financial advisors, “nearly ninety-six percent were very happy with their portfolio’s performance. They were dissatisfied with the service they received and the relationship with their advisor.” I will add that in my experience, seniors are more sensitive to the service issue than any other market segment.

Keep these senior attributes in mind in making your presentations and you’ll find they procrastinate less and make decisions more easily because you are a better presenter.

More on Marketing to Seniors from ProspectMatch

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ProspectMatch How to Attract Wealthy Senior Clients

Are you ready to meet people who can fund thirty thousand dollar life premiums, buy six- figure annuities and open half million dollar fee-based accounts?  You can successfully target the affluent when you have the right methods.

There are two groups of affluent seniors:

The “Next-Door” Wealthy

Members of the first group are the affluent (investment portfolios of $1 million or more) who do not think of themselves as wealthy.  Let’s call them the “next-door” wealthy.

These are people like the dry cleaner who started and grew a low-tech business, or the fireman who purchased and fixed up rental homes in his spare time.  These are the “Millionaires Next Door” aptly described in Tom Stanley’s book of that title who live in middle-income neighborhoods and drive cars beyond 100,000 miles.  Picture Sam Walton driving around in his 1972 pickup and you’ve got the perfect example of the “next door millionaire” affluent prospect.

Since most members of this group accumulated their wealth through the ownership of small businesses or by investing in real estate, you can easily rent lists of these people. Consult Standard Research and Data at your local library to find these lists or perform an Internet search for list brokers that can provide lists of:

1.    Businesses with under 25 employees excluding professional firms (doctors, lawyers, engineers, etc).  These are likely to be successful businesses with high margins.  A business that has remained small and has preserved its capital produces a rich owner.  If an age match can also be done, look for owners over age 60 as they will have the most money.

2.    Businesses with fewer than 25 employees but with more than $2 million in their qualified plan.  This is public information from the IRS 5500 form, and can be obtained from several list brokers.

3.    People who own five or more rental homes or apartment buildings with 10 to 20 apartments.  Several firms compile lists of real estate owners.  In most counties, the home they live in has a homeowners tax exemption while rental properties do not.  Therefore, owners of multiple rental properties can be easily identified.

You also find these people by subscribing to magazines with titles like “Rock and Quarry,” “Scrap Metal Today,” and “Earth Moving Machines.”  These magazines have ads from the low-tech businesses that have not attracted competition that have very high margins and wealthy older owners.

Attracting the “Next-Door” Wealthy

Because the next-door wealthy do not think of themselves as wealthy, you can attract these folks using the same tactics that you would to attract the middle market, as these people think much like those in the middle market.  Direct mail, ads and seminars are all effective tools for prospecting.  Note that if these methods have not worked for you in the past, it’s not because these methods don’t work.  It’s because you have not used them correctly so find an expert to assist you.

The next-door wealthy purchase the same products and services as the middle market.  Working with them is just like working with other clients—they just have more money.

The next-door wealthy are typically conservative investors, and want to save taxes.  They are not big stock market investors, as they don’t like to lose money.  They feel that real estate and a business are much safer investments.

In addition to the common products (long-term care, annuities, bonds) the following products and services interest them:

1.    Charitable Trusts and Gift Annuities.  Introduce charitable trusts and charitable gift annuities to those who are real estate-rich and cash-poor which allow them to liquidate their real estate, increase their income and avoid immediate capital gains tax.

2.    Defined Benefit Plans.  Help the business owner convert from a profit sharing plan to a defined benefit plan so he can make larger contributions for retirement and save more taxes.

3.    Family Partnerships.  Demonstrate how a family business or real estate can be passed on with less tax.

Planners successful in this market are not the “three-piece suit ” types who have a Harvard attitude.  These affluent clients are attracted most to down-home simple people who sincerely want to help them.  Don’t drive up in your new Corvette.

In the next post, we will deal with the other group, the “showy wealthy.”

Want to know how agent Charles Wood found a client worth $200 million dollars?  he did it with Internet Leads.

http://www.prospectmatch10.com

 

Prospect Match on Insurance Sales Agent Success

I just reviewed several websites about being a successful insurance sales agent and little what I read is true based on my experience selling insurance and observing successful insurance agents. Insurance sales agent success stems from the ability to market and sell. Mention of issues like good client service, taking care of people, blah blah blah don’t matter if you can’t get clients and can’t get the business. Getting the business is paramount or you will have no clients to take care of. Getting the business is about insurance marketing. Insurance marketing means that you have a way to attract insurance buyers to you. There are many methods to do that such as: direct-mail Internet advertising public seminars networking advertising in the newspaper, radio or television If you begin your career as an insurance sales agent, your employer will mention none of the above. To tell you the truth would scare you off. Because the above methods take some money. If you are not willing to invest money in marketing, I suggest you think twice about becoming an insurance sales agent. Most employers will tell you to market yourself in the most inefficient way as follows. They will tell you to make a list of 100 people you know and then start calling them to sell them insurance. Whether they buy or not, ask them for referral. The theory is that doing it this way you have no investment and you can leverage 100 relationships into a successful insurance sales agent career. What they don’t tell you is that this method fails for 90% of those people who enter the career of insurance sales agent. It’s a stupid method that leaves you with nothing after you’ve spoken to the hundred people you know. If instead, you invest some money in your business as suggested above, you don’t need to know anybody and you can even be in a new town and you can be successful. Here’s a hypothetical example. Invest $300 and run an ad in the daily newspaper which advertises your free booklet, “Six Things Insurance Agents Never Tell You about Homeowners Insurance.” Some people will call they will order your booklet, thereby identifying themselves as interested motivated prospects. You will have a conversation with these people, engage them, and some of them will become buyers. This simple method of marketing, identifying motivated prospects, and then having a sales conversation is what can make you a wealthy insurance sales agent. After your marketing plan is running, you must have superior sales skills to capitalize on your marketing investment. Do not assume that you learn to sell by doing it as this is an enormous fallacy. To become a successful insurance sales agent, take professional sales training such as the Dale Carnegie sales training, the training from Sandler Institute or some other multi-week structured sales training. There is nothing natural about having a successful sales conversation. It is similar to swinging a golf club. It is a skill that must be learned and practiced because nothing you already do in your communication will lead you to be good at sales. With the following concepts in mind about marketing and sales, you now have an accurate view of achieving success as an insurance sales agent and the truth about what the profession entails. For those who follow the above outline, you can earn hundreds of thousands of dollars a year just by being judicious. Lear more about insurance sales agent success at Prospect Match. http://www.prospect-match.net

ProspectMatch Mutual Fund Prospect

These people responded to the ad for the booklet “Understanding Mutual Funds” (Click Here to see the ad.) The booklet explains to investors the common errors

that most do-it-yourself mutual fund buyers (and many advisors) make. Obviously, these are people who have been thinking about or have interest in buying or changing their mutual fund investments. They are already motivated as they requested the booklet.

All you do is send the booklet , and then follow up with the prospect by phone per the instructions we provide you.

Because these prospects will have already received your booklet, you will find the call a warm call (People tend to give credibility to items in writing and the professionals who supply them). You will be treated as an expert and not as a salesperson when you follow our instructions that you receive when you register for the ProspectMatch service.

Use our booklet at no extra cost or your own literature

                                >Register to get Mutual Fund Buyer prospects <

Prospect Match Prospects for Higher Interest

These people responded to the ad for the booklet “CD Shoppers’ Guide.” (Click Here to see the ad.) Obviously, these are people who have been thinking about or have interest in CDs and higher interest rates. They are already motivated as they requested the booklet. They are often candidates for a variety of fixed income opportunities or fixed annuities.

All you do is send the booklet and then follow up with the prospect by phone per the instructions we provide you.

Because these prospects will have already received your booklet, you will find the call a warm call. (People tend to give credibility to items in writing and the professionals who supply them). You will be treated as an expert and not as a salesperson when you follow our instructions that we provide when you register for the ProspectMatch service.

>Register to meet people seeking Higher Interest<

Prospect Match Lead Generation Video

Prospect Match lead generation. Details how Prospect Match sources leads for financial advisors and insurance agents.

 

 

http://www.prospect-match.com