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Call today: 720.344.0312 Recent LTC Articles Create Your Own Brand of LTC Sales! The Register July, 2006 By Wilma G. Anderson, IAR, RFC Getting recognition as an agent or advisor who sells LTC plans is tougher than ever. Besides the hundreds of other advisors in your market area, you’re also now competing against bank personnel, too. And, some of them have a lot more money to spend on marketing and advertising costs than you do. But you have a BIG advantage that none of the big companies have. You’re you! You’re not a faceless corporation but a distinct individual with a unique personality. You’re local, with roots in the community, and have been serving clients in many other areas already. You can leverage this experience to your advantage to beat the big guys. It takes creativity and a new approach for selling LTC to out-compete the others. It’s a bit more work — the bad news — but the good news is that it’s fun, exciting and profitable. What am I talking about? As an independent financial professional today, you must create a sales formula that fits for only you. That is, you must create your own brand. A brand sets you apart, so that you’ll stick out in the client’s mind as the advisor or agent of choice in your area. And even if you’re a captive agent, while you can piggyback on your company’s national brand, you’ll still need to create your own brand to distinguish yourself from the other agents in your area. Personal branding is a hot topic. The Brand Called You, by Peter Montoya, lays out the key principles of how a personal brand is crucial for all entrepreneurs and financial advisors like us. Let’s look at how to create your brand in financial services. This year, start out by picking two age groups you’d like to target for LTC sales — for instance 45 to 55, and 55-or better. Now think about how the LTC products would appeal to each group, and how you can dove-tail an LTC sale with the products you already like to sell. Ask yourself, “What’s the best way to attract more of the consumers I want for my financial practice?” First, start with the three best products that you like to sell and that your market already buys. This begins the niche marketing process that fits your personality, your marketplace and what you’re licensed to sell. Sales systems can be very helpful, but no sales system will magically do your work for you. Many times, the financial advisors that sell their best three products on a regular basis often forget to mention LTC to their clients, which could be the 2nd, 3rd, or 4th product that your client buys from you. The most successful approach to creating your Brand takes into account two key factors: 1) What product(s) will consumers buy from you as a first sale in your marketplace, and 2) Who are the clients you’re most comfortable and successful with. Put both together and communicate with your market effectively, add in LTC as another product they can buy from you and now you have a winning strategy! Studies show that a new prospect needs to receive about nine or 10 messages before he or she pays real attention to it. Furthermore, it’s best to “touch” prospects in different ways. Now that we’re in the middle of this year, plan to touch your LTC prospects three times via three different methods during the next 6 months. For instance, you might do three direct mailings, hold three seminars and send out three press releases, or perhaps send out three print or electronic newsletters, advertise in a local newspaper, or speak on a radio program that your prospective clients listen to on a regular basis. When you have a multiple contact program, it starts to create you as a recognized ‘brand’ in your market area. Put yourself in the prospect’s shoes. You receive a direct mail piece or a phone call from Advisor A, whom you’ve never heard of. Then Advisor B, whose name you recognize, sends mail or makes contact with you. Which one would you be more receptive to? Be creative; try different things. For instance, you could run a local newspaper ad three times offering a free booklet on long-term-care insurance products, annuities, or 529 plans. (If you’re securities-licensed, make sure the booklet is compliance-approved.) You can hold a seminar on US savings bonds. You can mail out large-format postcards on annuities. You can develop a classy LTC mailer. While you’ll probably have some ideas on what will work and what won’t, you won’t really know until you try out a program in your own area. There’s no magic formula for every area in the country. You HAVE to experiment, test mailings, and monitor the results. So dedicate the next few months to discovering which products and which media form will work best for you. With that information, you can fine-tune your efforts, establish your Brand consistently, and your sales results will improve dramatically. Concentrate on what works and drop whatever isn’t working. You’ll keeping filling your sales funnel with fresh prospects. Once you have your appointment book full, make sure you take the greatest advantage of each opportunity. You’ve worked very hard to get that new prospect, and you need to be sure that your sales skills are absolutely topnotch. Even if you’re a successful veteran salesperson, it’s wise to get some refresher sales training. And if you’re selling LTC products that you’ve had relatively little experience with before, it becomes crucial to fine-tune your sales presentation. Combining ongoing personal branding with topnotch sales skills will make you unbeatable! Click here to return to list

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