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BSMG Blog: Protecting the Future of Families and Businesses

Financial Advisor Marketing Tips: Words that Work


Most Popular Sales Pitch...

It's amazing the amount of content that a simple query brings up in a Google search. Page after page of things you should say, things NEVER to say and prospecting phrases that are sure to bring in business. It isn't as simple as canned pitches. Our industry isn't a catch all, every client is truly unique and should be treated as such. Upon searching we stumbled upon an article from InsuranceNewsNet that discusses 10 Financial Phrases to Ban... and What to Say Instead. Below, we've shared the phrases we found most helpful, along with other powerful financial advisor marketing tips.

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5 Policy Review Resources That You Need


Are your clients' policies performing as originally designed and on track to meet their financial needs? Reviewing your clients' policies is an integral part of an advisor's business. Your clients rely on you to ensure that they have proper coverage and the most competitive pricing available.

You're likely aware of the importance of policy review. However, time is often hard to come by and perhaps policy review gets set aside due to other priorities. Now is the time. July and August are typically less busy and a perfect time to start focusing on policy reviews. Use our top 5 policy review resources to get you started and save you time.

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[Video Blog] Protect Your Clients' Retirement with QLACs


60% of Baby Boomers are More Afraid of Outliving Their Retirement Savings Than Their Death

How are you answering your clients' No. 1 fear of running out of money in retirement? BSMG's VP, Retirement Wealth Strategies, Rob Cantin, discusses how Qualifying Longevity Annuity Contracts (QLACs) can protect your clients' retirement income and increase your annuity sales. 

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Tactics & Talking Points to Introduce a Policy Review

 

DID YOU KNOW?

It is a common misconception by consumers that once a life insurance policy is purchased they can "set it and forget it."

Has your life changed in the last five years, how about the last two years? I don't need to tell you how quickly life can change. Your client's lives are also continually evolving, so shouldn't their life insurance protection be reviewed to match? Use these life insurance sales tips to keep in touch with your clients and ensure their current policy still matches their needs.

Life is busy, your clients may (or may not) be aware that they need to update their policy coverage. They also may not have the time to research new products or even to pick up the phone to call you for help. Be proactive and check in with your clients. Do they have a new career, business, child or home? The simple question of "when was the last time someone reviewed your policy?" may be all you need to open the door.

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How Successful Insurance Agents Approach Small Business Owners

Check out these tips on approaching small business owners for insurance agents & advisors.

Small business owners respond well to an approach that includes educational information and planning for their future success. They feel their business is unique. If you can teach them something new, they will be more open to meeting with and listening to you.

“Tell me what you’ve done for other small business owners and why it is right for me.”

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Calculators to Help Identify Client Needs

When you sit down with your clients are you answering key financial questions relating to their savings, taxes, insurance, education, business or retirement investments?

Your client comes to you for your expertise and depends on you to provide them with a strong plan for their future. Don't waste time by using a hand held calculator to compute complex equations or fumbling with excel, or worse a paper form. Get quick, clear cut information with automated financial calculators so you can properly and easily answer questions like these:

  • How their 401(k) or Roth IRA will affect their retirement?
  • How the inflation rate will impact their retirement income needs?
  • How taxable, tax-deferred and tax-free investments may compare?
  • How long their money will last?
  • How much they'll earn in their lifetime?
  • How much they should save for college funds?
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Increasing Your Client Retention

 
Over the last decade, we have seen a growth in financial services and life insurance retail options for clients, most notably the explosion of the robo-advisors. More options are available to consumers, meaning buyers can be more particular with whom they do business with. Some businesses are so focused on obtaining new clients, they forget about their current clientele, there is something to be said for providing that extra attention to your loyal clients.

Statistics show that customers care more about service, quality and personalization, than cost. Wouldn't you rather do business with someone who caters to you individually and gives you customized service? Your clients certainly do. So, while other advisors and firms may fall short by focusing primarily on the pursuit for new clients, take the long game by setting up a life insurance sales strategy that includes paying more attention to your current customers. Recognize your current roster and make each client feel like the MVP. This will build customer retention, brand loyalty and make your business stronger.

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Use This Strategy to Close More Life Insurance Sales

6 Steps To Building A Successful Life Insurance Sales Strategy Using the "Balanced Approach"

Most of your clients face a dilemma as they find their life insurance needs shifting. They can either: 

  • Insure their highest level of coverage needed, even though it could be years from now, or
  • Insure their lowest level, all but guaranteeing they’ll be under-insured in the future.

Whether they are clients who are considering buying insurance for the first time or ones who realize that their current policy isn’t enough, finding the right balance is an important concept. 

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Adding Marketing to Your Life Insurance Sales Strategy

The number one reason that people purchase life insurance policies is to protect the ones they love. All too often we hear horrible stories of people who unexpectedly pass away and their families are left scrambling. Life insurance can be a difficult topic to talk about but finding the time to discuss it with your clients is so important. Life Happens is a website that advocates for life insurance awareness. They create campaigns that are dedicated to educating people on the important role life insurance can play in their lives. One of these campaigns is "Insure Your Love" and it's a great way for you to start the conversation with your clients!

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Are you wasting your time with the wrong prospects?


Top 5 Financial Advisor Marketing Tips - Are you wasting your time with the wrong prospects?


When it comes to marketing, the basic principles haven't changed for financial advisors. However, the technology we use to execute them has. We've compiled a list of the top five financial advisor marketing tips.

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