3 Ways to Grow Your Annuity Or Insurance Business

For years, I have been telling businessmen that you need to use a variety of marketing channels to generate steady annuity leads and insurance leads. You will not be able to fill the pipeline with clients prospects if you don’t have a varied marketing strategy. (Sorry, that didn’t offend.

It is often said that the key to becoming a top producer is to work hard. For serious advisors, the fact that so many agents are lazy can be a problem. Top producers need to work smart!

Many agents have had to reduce their marketing budgets due to the current economic chaos. Smart isn’t about fearing the current economic environment, but rather using it to your advantage. You don’t need to spend all your marketing dollars right now and just stay in the locker-room. It is time to capitalize on the market’s downturn and the risks it presents and tell clients and prospects about the safety and benefits of annuities. Get involved in the “Super Bowl of Commissions” and pursue the IRA Rollover Market.

This concept is complete with me adding that if you don’t do any direct response marketing on an ongoing basis, you could lose up to 80% of your future income. This is about sending out flyers, postcards and direct mail on a weekly basis. It’s a win-win situation to be persistent with your mailings It’s costing you thousands in missed commissions if you don’t mail on a monthly basis to CD Holders, IRA Holders, and affluent widows around your area.

Let me show you how you can build an Annuity and Insurance company in 2009. Your marketing efforts should all fall within at least one of these three areas to ensure your business grows. When you market, it is important to understand which of these three goals you are trying to achieve. If you want to be successful in insurance, then you must work all three.

1. You can increase the frequency of transactions with each client by the following:

For future sales, repeat business
Marketing by word of mouth
Referrals are earned through building relationships with clients or people you know.
You can cross-sell annuity and LTC presentations to make additional sales.

2. Increase your number of clients: This is often the only way 98% of the insurance industry looks for ways to grow their businesses. It results in only about a 20th of the potential revenue you could be producing.

3. Increase the volume of transactions: If you want to increase your transaction volume, market to people who have more money for an annuity or another type of insurance plan. Target any size buyer that you wish and get them to contact you. You just need to take the time and find out what they are doing.

Agents who wish to sell annuity products to wealthy prospects should purchase a list that includes CD Holders, IRA Holders, and Affluent Widows.

Agents often don’t realise the high cost of acquiring new clients. It is not worth the cost to sell them more frequently or sell them less often.