Marketing will save you from the povertyhouse, while compliance will keep your head above water. – Julius Caesar (100BC – 40BC)
It is certain that things will be easier and more cooperative for me and you if I tell you upfront that the quote from Julius Caesar above would have been better translated as: “All Gaul is broken into three parts.” “
When you consider Caesar was attacked in the back by home office workers who were jealous of his field experience and angrily about how he lorded over them all the time, my loose translation of the original Latin may be overlooked in some of these more agent-orientedcircles.
There is a pause in the action for me to confirm my beloved Compliance Department’s clear understanding that neither Cassius nor Brutus, nor any other Roman conspirators, should ever be considered “home office employees”. Octavius, despite being an Actuarial Department type of guy, struck me with his calculating ways. He pretended to listen to others while he was trying to get his way. To be clear, I’m not drawing any conclusions or making any statements about the fall of Rome and current events in the insurance industry.
Let me start anew.
There are no limits to the mental anguish and grief one must experience in this world to be “compliant”, that is, on terms with the Compliance Department, and to retain any quorum marketing brilliance (that’s, to actually sell something). But, dear Brutus! You must understand that it is not our fault but ourselves.
Compliance Departments have never been a problem with financial services advertising. Compliance Departments have never been and are not the problem with any financial services advertising approach. I believe that stop lights are the only reason for my infrequent attendance at Monday morning meetings at the insurance agency. The problem is that the rule makers have made it so that even the most brilliant marketing minds of the past, Compliance means that we can’t perform our printed and verbal sales magic. If you want to see more Latin, I’m using the phrase Ego sum Non Reprehendo.
Now it’s your turn. I have questions for you, as an agent or broker in insurance. In the past, did you use verbally lying or cheating to write your direct mail copy in the past? Would your mother have required you to completely alter your solicitation copy if she was watching? Important Note: This last point was only for dramatic effect. I am not making any comparison between Compliance Departments and mother’s watching. It is clear that I don’t want to get into trouble for doing something I didn’t intend. How ironic is that? Let me ask you, if compliance had no business-related meaning, how would that change the way you edit anything you present to public?
Each of these rhetorical questions has a rhetorical answer: “Ofcourse not!” That’s what you know, and that’s what I know. And that’s what almost everyone in the insurance industry knows. Or should.
So, you can ask me directly what it is that makes me so excited that I would quote Shakespeare in public and translate Latin into Latin.
Thank you for asking! I find it strange that many of my friends and associates in insurance make emotional comments about the notion that Compliance! They are unable to get in front more qualified prospects or sell more of the ones they do. My lean, hungry-looking friend, the truth is that this is something we have done to ourselves. Direct mail is no longer a viable option. No one believes that any “FREE OFFER”, if it comes with anything, will not be able to endure an unpleasant and lengthy experience with a sales representative. All self-aware Americans will be reluctant to make an appointment for insurance with anyone they haven’t met. The last five times they tried, it was a frustrating experience with a sales representative that left them feeling uneasy. Internet sales may still be a viable option, as people prefer to buy insurance online and not have to meet in person to obtain coverage. You’ll soon feel both good and sad when you consider the implications of this statement. Professionally, that’s what I mean.
My friend, who is trying to manage an honest and open insurance lead generation business in a world that doesn’t necessarily have all those words in the same sentence together, told me recently: “Agents don’t realize how difficult it is to even get them in their doors these days.” After hearing this thought out loud, I moaned for three days.
This profession of selling insurance is very difficult. Let’s face facts. Over the years, I’ve seen the most difficult salespeople from other industries enter the insurance industry with an arrogant attitude and high expectations. But they quickly left the profession with their heads down and tears in their eyes. All because most Americans hate insurance and don’t understand how it works.
Here’s my super-duper sales tip to help you end on a positive note. (Note the positive increase in my finish. Tell everyone you meet, prospects, clients, and centers of influence, that you don’t like what has happened in the insurance industry. Tell them that you appreciate their purchase because so many people view insurance agents poorly. Tell them that you are sorry if they don’t buy from you because many people think poorly of insurance agents. If they don’t give you a referral, explain that you are grateful for the opportunity to refer an agent.
What does this mean for agents? It’s unlikely. Prospects and clients may at least start to see us as fellow human beings. This is something prospects and clients have been trying to do for a while. Although it isn’t a monumental achievement, it is something. Let me end by asking you your thoughts about the subject and my bold marketing plan. You surely knew that this phrase was coming: Et Tu, Brute?
