Happy Wife, Happy Life - Develop An Annuity Selling System
My wife and I have different roles in our marriage; she volunteers, cares for our home and our daughter and more especially takes care of me.
I run the business, mow the lawn and await further instructions. Like most of us living in husband land.
How do I do my job so it does not overflow into her life as a negative? I remember when I couldn't make enough money to make everything work. I would come home to an unhappy situation and one where worry had overflowed into our home life. How could I do it?
I wrote a business plan and I decided that work was work and play was play.
I finally was able to figure out who my target market really was. Instead of anyone who would talk to me I decided on the only people I would talk to and wrote it down. My annuity prospect market:
Seniors over age 65
Daytime appointments and accessible
Available assets of $400,000 or less
People who would benefit from my simple annuity products
I needed a prospecting method to round out my annuity selling system -- to reach these people and one which would be affordable. There were lots of options, seminars, direct mail and referrals. I decided to use a combination of these and I also decided keep my marketing budget within reason.
Use this as a comparison for your planning. If you invest $1,000 a month in annuity marketing using a direct mail campaign you should expect about 120 annuity leads a month. With normal lead conversion ratio of 1/3 you should be able to get in front of 40 prospects a month. After a few weeks you would also add to this the closes from the previous weeks along with deliveries. Now you are busy, I was.
By outsourcing the marketing on a real commitment (direct mail) I was able to put more focus on the other portions of the business like appointments and selling annuities. I also outsourced the telephoning because I am uncomfortable on the phone.
The result of this was I was able to remove the business negatives from our home and only share with her the benefits we were now enjoying. I had myself an efficient annuity selling system that worked.
Here are some additional points.
Write a business plan
Write down your target market prospect
Decide on how you will reach them
Outsource the marketing
Outsource everything you are not good at (I outsourced the telephone)
Simplify your product line (I do not sell LTC or life insurance) I only sell annuities
Schedule work weeks, if it is a work week, work all week. If it is a play week, no work is done (I schedule 40 weeks a year as work weeks)
If you work at home, have a place to go to work in your home, when you are in your office you are working and nothing else. (take solitaire off your computer)
Do not overanalyze anything, keep things simple (repeat: keep it simple)
Buy an annuity and be proud of it
Do not call yourself a financial planner or estate planning specialist etc. Call yourself an annuity salesman! That is what we are!
If you do not enjoy selling and you do not own annuities yourself, do not sell them. And always remember
A Happy Wife is a Happy Life
Related Tags: marketing, selling, sales, leads, sell, system, prospects, lead, annuity
Bill Broich is a 30 year annuity salesman who helps agents ramp up their annuity marketing efforts. Visit his website to learn more. Annuity.com
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