Marketing without skill is false advertising! Nobody knows that more than our radio host partner Brad Pistole. He prides himself in being the expert, and what better way to do that than being mentored by “America’s IRA Expert,” Ed Slott, CPA.
If you want to become a top producer, somewhere around the the 2-3 million dollar productions range you need to switch from annuity marketing budget management to annuity lead management.
What is Annuity Marketing Budget Management? Annuity marketing budget management is the process of determining how much you can spend on marketing for at least the next six months and then spending that amount regardless of sales volume.
As you get capitalized, you consistently increase your budget until you are spending somewhere around 10-15% of revenues on marketing. Your goal with this type of marketing budget is to make sure you are consistently spending money on marketing but not spending more than you can maintain. The problem with this system is that what you can afford does not always produce the number of annuity leads required to keep your calendar full.
What is Annuity Lead Management? Your #1 business goal as an annuity agent is to get capitalized enough that lead flow becomes more important than managing lead expenses. At this point, you realize that the most expensive annuity lead is the lead you don’t have and your focus changed from managing your marketing budget to identifying how many annuity leads you need every week to keep a full calendar Once you have determined the number of leads you need each week, add 10% (i.e. if you need ten leads you will manage for 11 leads).
The next step separates the men from the boys. Now you need to spend whatever is required to give you and average lead count that will keep your calendar full. When you start the process of annuity lead management your ROI might shrink and your lead expense as a percentage of revenues might increase. Don’t be alarmed! Eventually your revenues will catch up and you will get to a stage in your business where you cannot out expense your revenues. This is the point where momentum becomes as powerful as the concept of compound interest and where your confidence goes ballistic. This is also the point where you don’t need your clients, they need you, and you become a low hanging fruit picker. If you got to the point where you are selling 2 to 3 million per year you have already proven you can sell. Now all you need to do is keep your calendar full by switching your priorities from lead expense to lead flow and your production will reach levels that very few annuity agents ever experience.
In both circumstances you never turn off your annuity marketing for vacations, holidays, or anything else.
I just got off the phone with an agent (I will call him Joe) and we had the typical conversation about annuity seminar leads drying up. During the conversation he told me that he has sold 180 million in annuity premiums over the last 30 years. I won’t tell you where he is from because you wouldn’t know where it is anyway.
I just got off the phone with an agent (I will call him Joe) and we had the typical conversation about annuity seminar leads drying up. During the conversation he told me that he has sold 180 million in annuity premiums over the last 30 years. I won’t tell you where he is from because you wouldn’t know where it is anyway. Basically, he lives in the middle of nowhere. In fact, he joked that the number one product in his town is meth and that his town has the lowest income per capita in his entire state. The closest major city is over two hours away.
He said to me, “People have told me for years that I should move to a bigger city where I could get more annuity leads, and I guess they are right, but this is where my family is.More money is not worth moving away from my family.”
We chose where we live and we live with what we chose.
We all have challenges in our business; location issues, health issues, money issues, lead flow issues, and many, many more issues. The question is what are you going to do about it? Are you going to be a victim of your circumstances or are you going to work hard enough and innovate so you can live where you want to live and have the lifestyle you want to have?
I cannot help but be impressed with Joe and his success selling annuities. He has put his butt in the car over and over again to travel to his clients for over 30 years. He has spent hundreds of thousands of dollars in annuity marketing expenses so he always had someone to show his products, even when it was not easy for him to spend that money. I did not sense any complaint or regret for all those miles Joe put on the road. He has made hundreds of thousands of dollars per year helping his clients with safe annuity products and has provided his family with a lifestyle far beyond his small town roots. He takes vacation when he wants, coaches football when he wants, and he truly knows how great he has it.
Make sure your work ethic matches your dreams my friends. Dreams don’t become reality without effort, risk, and perseverance.
Annuity.com annuity leads come from the premium consumer based annuity information source. If you want an annuity lead that wants to talk to you about annuities there is no better place to start than Annuity.com. Our project manager, Kevin Dufficy, put together this Q&A on the Annuity.com annuity leads to give some guidance on how these leads are generated.
You can find out more about Annuity.com annuity leads HERE.
Annuity.com Annuity Leads Q&A:
Q ~ Do all the Annuity.com annuity leads come from Annuity.com?
A ~ No, some of the annuity leads come from other partner sites that we currently work with. All of our annuity leads are branded so that if they don’t end up on an Annuity.com landing page, we will put Annuity.com in the quote request message to the prospect. Our goal is to generate 90% of the annuity leads from the Annuity.com website but all leads are Annuity.com branded.
Q ~ If the annuity lead did not come from the Annuity.com website where did the lead come from?
A ~ Many sites, such as The Motley Fool, Forbes, etc. We are placing Annuity.com ads in strategic locations to increase lead flow.
Q ~ Are any of the annuity leads directed from another site to Annuity.com?
A ~ Not currently, but we are leaving that option open with the condition the annuity quote prospect will be familiarized with the Annuity.com brand during in the process of requesting an annuity quote.
Q ~ Are the annuity leads expecting a report or a quote?
A ~ The “Lead Type” field on your annuity lead will say if they are expecting a “Guide” or a “Rate/Quote”. So far, you’ve gotten only annuity rate/quote leads.
Q ~ Is the report “Safe Money Book” or “2012 Annuity & Investment” Report? I’ve been told “safe money” but the site leads me to believe its the 2012 Annuity & Investment Report.
A ~ Currently it is the 2012 Annuity & Investment Report.
Q ~ Is the book/report sent via email or physical delivery?
A ~ The annuity prospect can download the report immediately on the website and we also send them an email confirmation with a link to download it (and we of course say again that an advisor will be contacting them shortly). You should always use the Safe Money Book and Safe Money Kit (available for contracted partners) to increase your chances for an appointment.
Q ~ Does the annuity lead have the report when we get lead?
Hello Partners,If you are not using the Electronic Response Marketing System (ERMS), BIG MISTAKE!!!!We had a very difficult client buy an annuity from us about a year ago. In fact, she was so abrasive that we almost walked away from the sale. We have not heard from her since the purchase but started noticing from the daily reports that she was hitting our ERMS website several times over the last few weeks. We just got a call from her and she said, “Hey, I have another $20,000 I would like to move over to you guys. Can you help me with that?”
We said, “No way”!
Just kidding. We might have said “no way” but she was so nice to us. Completely different person than the one we met with a year ago.
Who knows what caused the change in attitude. Maybe she went to a Tony Robbins seminar. Maybe she just refilled her Prozac prescription? Then again maybe she has been visiting our ERMS website and decided she likes us and the guarantees we offer with our products? Maybe she saw something that made her concerned about the safety of her money?
I don’t know, maybe one of your clients might call you and ask if they can buy more annuities? What do you think?
Thanks for the biz. Thanks for more biz if you are using ERMS.