Advisor Today - September/October 2015 - (Page 56)

sales & marketiNg SALES IDEAS By David Alarid and Michael Ross Ideas to Help You Sell More Use these two great ideas to help rev up your sales numbers. S uccessful agents always have great ideas for converting their prospects into clients or getting their existing clients to help them sell more. In this article, two industry heavyweights share some of the techniques they use to keep their sales numbers up, year after year. * Give your clients a lesson in life expectancy. Throughout my 27 years in the financial business, I've delivered 64 death claims. Only two of those were from term policies- the other 62 came from permanent policies. While term insurance has its benefits, permanent insurance ensures that your clients will always have protection available. To help clients better understand the importance of life insurance, it's helpful to give them a lesson in life expectancy. Ask your clients for their definition of life expectancy. By far, the Number One answer will be: "It is how long the statistics say I'm going to live." At that point, show them how it works. For example, if you have a client who is 45 years old, his life expectancy is 84, according to the actuarial table. But what does that really mean? If there is a pool of 1,000 male, non-smokers age 45, half of them will die before age 84, and the other half will beat that mark. It's important to note that the majority of people will die within five years, plus or minus their life expectancy. I have used this sales idea for the last 15 years. Whenever I share it with my clients and prospects, I always draw a bell curve to show that the majority of lives will end within five years of life expectancy (and plug in the client's specific life expectancy numbers). When drawing the bell curve, I mark a few "Xs" on the front and back ends to show that few people will die immediately, and few will live to be 100-plus. My follow-up question to clients is if they know how many centenarians (people 100 years or older) are living in the United States. According to the U.S. Census Bureau, in 1950, there were 2,300; in 2010, it was 79,000 people, and it is expected to grow to more than 600,000 by 2050. This reinforces my point that people are working and living longer, and it's important to protect yourself with life insurance. * Forge deep relationships with your clients. Several years ago, I had a new prospect referred to me who was working with several advisors at the time. I spent months talking with her and learning about her love for travel, art, restaurants, music and family. She mentioned to me that no other advisor had tried to really get to know her as a person. We ended up forming a strong client-advisor relationship, and I became her sole trusted advisor. Now she is one of my "A" clients. The majority of time at our meetings is now spent discussing non-financial topics because we have forged a relationship. Once we have finished sharing stories, we dedicate the remainder of the meeting to reviewing her portfolio. Over the years, I've done small things, like take her out for lunch or send a card or small gift on special occasions. I do these things not because they bring me new business, David Alarid is a career agent with the Securian Financial Group. He is a 27-year MDRT member, with one Court of the Table qualification. cont'd on page 58 56 ADVISOR TODAY | September/October 2015

Table of Contents for the Digital Edition of Advisor Today - September/October 2015

Why You Need a Mentor
The Key Attributes of Top Performers
Success Tips from a Golden Gloves Boxer
How I Use Social Media to Build my Practice
Getting Started on LinkedIn
Discussing Your Client’s LTC Needs in Retirement
How to Boost Your LTCI Production
¿Habla Español?
Providing a Retirement Safety Net
Ongoing Challenges, New Solutions
Four Under Forty
NAIFA’s 125th Anniversary
Demystifying CPA Alliances
Building Your Natural Audience
Holding Workshops?
Ideas to Help You Sell More
Special-Needs Planning
Planning for Divorced or Widowed Women

Advisor Today - September/October 2015