By Bryce Sanders | June 17, 2020 at 02:26 AM
The cheapest leads you can get are the ones you already have.
Leads that didn’t work out. Everyone has an
online folder, desk drawer or manila folder filled with referrals and other
names that came your way. You talked to them. They weren’t interested. They
thought insurance was boring. Maybe they’ve changed their minds.
Proceed with Caution
Between the do-not-call list rules and the
pandemic, there are restrictions on cold calling and prospecting. Check this
out with your manager so you stay on the right side of the law. Some of
these names might be friends, current clients or recent prospects.
They might receive your eNewsletter. Let your
manager guide you on who you can (and can’t) contact.
5 Reasons to Recontact
If they weren’t interested in insurance
before, why contact them now? What has changed?
1. You can lose money in the stock market.
There’s an old expression: “Money talks. It
says goodbye.” Over the past few years, the stock market did well. During the
pandemic, it’s run into problems. People should diversify. They might be
interested in putting some of their money in a product where the initial
principal is protected.
2. Cake 101: Having it, eating it too
If they got their fingers burned in the stock
market, they might be interested in an insurance product where they participate
in a portion of any stock market increase, yet aren’t taking on much, if any
principal risk.
3. I might not live forever.
“I’m young. I’ll buy insurance when I’m
older.” The news reports have driven home people of all ages have died from the
Coronavirus. Better to buy now and build up cash value, knowing if the worst
happens, their family will get a lump sum payout.
4. Long-Term Care
But where? Many virus deaths have taken place
in nursing homes and senior living facilities. You client might have thought,
when the time comes, living on one level in a bucolic setting might be “country
club living.” Now they think in home care might be safer. There are providers
out there, but where will the money come from? Long Term Care insurance may
look more attractive.
5. Guaranteed Lifetime Income
After the pandemic, some people will want more
certainty in their lives. They may be more open to this discussion than before.
There are plenty of reasons now to have
another conversation with people who previously thought insurance was boring.
Bryce Sanders is president of Perceptive
Business Solutions Inc. He provides high-net-worth client
acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor,” can be found on Amazon.
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