Did you know it’s been said that “you can’t see the future looking in the rear view mirror”?
A true statement, as is “past performance is a good predictor of future results” – that is unless you do something differently. Research shows many advisors do not have a sales plan that they develop and monitor, while successful advisors make planning and monitoring their results a habitual practice. And right now is the ideal time to do that!
While most advisors have an income goal, many have not broken that down into an income strategy and tactical plan. In fact they just don’t know how to tackle an exercise like that. Well, it is easier than you think.
A simple table like this will go a long way to adding or increasing life and living benefits insurance sales!
Number of Sales
|Life Insurance||Critical Illness||Disability Insurance||Long Term Care||Seg Funds||Annuities||Group|
Collect your data for the last twelve months.
Look at how many sales you have made in each product category for each license you hold.
Then look at the insurance opportunity. Consider how many clients you have, and what life and living benefits products you have not talked to them about!
Now what? What if you:
- place a product list or chart like the one above in each client file
- plan to have all your client meetings 8 months before their birthday
- in your meeting ask your client to put a check mark in the box of each product they own
- placed another symbol beside product recommendations not acted on
- ask and note the products on the list they bought from other advisors or institutions
- explained that these products are also available through you for them and members of their family
A multi-product sales plan needs not be any more onerous than a gap analysis supported with a strategy and tactical plan that’s doable and under your control.
Speaking of doable and under your control: take a few minutes to list what implementation steps are required to incorporate all or some of the above suggestions into your practice next year so that everyone – especially your clients – win by having the protection they need and “no blind spots”!
p.s. Stay tuned for the launch of Insurance Know-How’s Store … coming soon with lots of easy to use products and templates that will dramatically improve your insurance sales results!
p.p.s. Are you adding a family protégé to your practice? Don’t struggle with training; hire a training and succession professional! Click here to learn more about Insurance Know-How’s new Family Matters programme.