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Has anyone had experience using a system like booklet prospecting ? The annuity IMO PBS has a similar system they call pospects direct.
Basically you ...
Has anyone had experience using a system like booklet prospecting ? The annuity IMO PBS has a similar system they call pospects direct.
Basically you run ads offering a free booklet on how to avoid mistakes with annuities. People call a special voice mail line, leave their name, address and phone and you follow up.
Seems like a good way to reach prospects who would never attend a seminar or ones who did but chose not to do business at that time.
Has anyone had experience using a system like booklet prospecting ? The annuity IMO PBS has a similar system they call pospects direct.
Basically you run ads offering a free booklet on how to avoid mistakes with annuities. People call a special voice mail line, leave their name, address and phone and you follow up.
Seems like a good way to reach prospects who would never attend a seminar or ones who did but chose not to do business at that time.
The trick is to find out where to run ads. I have copies of ads run in my local daily newspaper (circulation 50,000) and I don't see them anymore. This tells me the ads were not successful.
A senior publication would be the place to run ads but, there aren't that many around my area that I'm aware of and, I'm sure, they're loaded with ads for annuities.
However, the best prospects for annuities are annuity owners. They've bought into the idea. It's just that they have an older version that needs to be "traded in" for a new one to get more bells and whistles.
How do we solicit currenty annuity owners? I have several good marketing pieces for this very thing. Depending on your location I may be able to set you up with someone near your area, who is already working with the system. Let me know.
Insuranceexec, I think you have a great idea here. Thanks for sharing it with the rest of us.
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Mark Rosenthal aka markingriffin
IMO/Ins Agent/Agent Trainer/Free Advice markcrosenthal@aol.comwww.realfastservice.com
Please visit mywebsite to learn more about me.
Email me for my Free Prospecting MP3 Tapes.
How do we solicit currenty annuity owners? I have several good marketing pieces for this very thing. Depending on your location I may be able to set you up with someone near your area, who is already working with the system. Let me know.
Absolutely finding prospects who are already annuity buyers is the key!
I would like to know more about your method of finding these prospects. Please post the details here if you can, or PM me.
insuranceexec, I think you have a great idea here. Thanks for sharing it with the rest of us.
You are very Welcome Mark. The downside to the marketing piece that I am referencing is that there are many moving parts. An individual needs to be trained in order to write annuities through this. That is the reason that I noted:
"depending on where you are located I may be able to set you up with someone who is already running the piece."
The booklet is pretty much vanilla information, but seems to be well-produced. I don't think you would have a FINRA problem unless you led people to believe that you authored the material.
It's interesting to read the posts about how to get leads for annuities. My group seems to have the opposite problem. I have plenty of leads, but not enough pros that are willing to sit down and sell them.
I have never liked marketing to the general public. In the last 2 businesses I have always chose a smaller niche and then tried to own it. Always takes more training and knowledge to get in, but once you are in you don't have to use "ads in papers" anymore.
In the Fed market I sell primarily Life. Now we are running into people who are looking for places to rollover their Thrift Savings Plan and our organization is not experienced on how to present that product.
Another nice thing I found out about working with the Feds is when you request the rollover from the TSP, transfers in 2 weeks and there is NO RETENTION DEPARTMENT TRYING TO SAVE THE DEAL!
It's interesting to read the posts about how to get leads for annuities. My group seems to have the opposite problem. I have plenty of leads, but not enough pros that are willing to sit down and sell them.
I have never liked marketing to the general public. In the last 2 businesses I have always chose a smaller niche and then tried to own it. Always takes more training and knowledge to get in, but once you are in you don't have to use "ads in papers" anymore.
In the Fed market I sell primarily Life. Now we are running into people who are looking for places to rollover their Thrift Savings Plan and our organization is not experienced on how to present that product.
Another nice thing I found out about working with the Feds is when you request the rollover from the TSP, transfers in 2 weeks and there is NO RETENTION DEPARTMENT TRYING TO SAVE THE DEAL!
Where in Missouri are you located? It sounds like you may have a nice niche, and I think that we may be able to mutually help one another. Give me a call.
This booklet annuity prospecting is virtually identical to the program that Larry Klein used to sell about 7-10 years ago through his now bankrupt NF Communications. The booklet (His was called Annuity Owner Mistakes) the cover letter sent with the booklet and the ads are strikingly similar.
Another guy, Hans Jenau, had the same type of system. I remember them suing each other over it. I used Larry Klein's system for a couple of years and it worked - sort of.
I am in California, so the ads in senior newspapers were more like $700 - not $75, or whatever is quoted in this guys web site. The ads would get about 30 responses, so they were about $23 per lead. Ads in a regular local newspaper would get very few responses.
Folks would call our 800 number and order the booklet. The responses were similar to direct mail leads.
I did make money from the program, but along the lines of a 2 or 3 to 1 return. It was borderline worth it. I would spend $2,000 a month to make $6,000, but it was a lot of follow up and running around.
I have been in the business for 30 years and sell a lot of annuities. I got some good clients from this type of marketing but nothing remotely like his testimonials.
This booklet annuity prospecting is virtually identical to the program that Larry Klein used to sell about 7-10 years ago through his now bankrupt NF Communications. The booklet (His was called Annuity Owner Mistakes) the cover letter sent with the booklet and the ads are strikingly similar.
Another guy, Hans Jenau, had the same type of system. I remember them suing each other over it. I used Larry Klein's system for a couple of years and it worked - sort of.
I am in California, so the ads in senior newspapers were more like $700 - not $75, or whatever is quoted in this guys web site. The ads would get about 30 responses, so they were about $23 per lead. Ads in a regular local newspaper would get very few responses.
Folks would call our 800 number and order the booklet. The responses were similar to direct mail leads.
I did make money from the program, but along the lines of a 2 or 3 to 1 return. It was borderline worth it. I would spend $2,000 a month to make $6,000, but it was a lot of follow up and running around.
I have been in the business for 30 years and sell a lot of annuities. I got some good clients from this type of marketing but nothing remotely like his testimonials.
I offer most of the usual suspects to my clients - OM Financial, ING, Allianz, Equitrust etc. I have looked at American Equity and may start using them again.
I am not a huge producer - most years about 1.5 to 2 million of annuity premium with some life insurance sprinkled in.
Last edited by NPCOACH : 02-25-2009 at 11:36 AM.
Reason: make post more clear. When I wrote "offer" it may have been misinterpreted that I recruit agents. I don't.
It looks like several people are looking for annuity marketing systems and I feel compelled to explain more about what we do in hopes of connecting some good agents with prospects in need.
We work with Postal employees (recession proof). This market is untouched by financial advisors but the largest sector within the federal government (800,000 employees).
Our company is certifed on their benefit and retirement systems (we can provide training) and we use that knowledge to build credibility with the client and then encourage them to rollout their gov't 401k.
Here's the part that blew me away. I turned in rollover paperwork on a deal Jan 25, and I got my check yesterday. The government 401k transfers money in 2 weeks and there is no one inside trying to "save the deal". I had one client last week that had an insurance agent that they really liked, but he knew nothing about the Federal Benefit plan. I got the rollover, he didn't.
We also use a seminar marketing system. No meals to pay for- just set up a room and they will come. I am averaging 1-2 rollovers per seminar and average balance has been 100k. There are some $200k plus deals out there in the rural areas where the client has lower cost of living and other assets as well.
If anybody thinks they would like to look into this more- please let me know what city and state you live in. Must have $1,000,000 E&O.
KEY POINT: if you are looking for the highest contracts don't bother calling. This system is about a niche lead system where you can experience a 70% close ratio on a one call close. If you are more interested in your 1099 than your contract percentage- this can be fore you.
We work with Postal employees (recession proof). This market is untouched by financial advisors but the largest sector within the federal government (800,000 employees).
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Really! If I recall the USPS just announced it's first layoffs since its inception.
Annuity Prospecting System
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