I have always been a firm believer in educating your prospects
. When I started in the business, we didn't have any educational materials to hand out to clients concerning their insurance and investment needs. So when I started my own agency, I decided that we would have
an abundance of educational pieces for prospects to use to educate themselves, and then they could come to us for help.
Fast forward to today. My colleagues and I now host educational workshops
to help our diverse team of agents succeed. We base these workshops on correcting mistakes we've seen so many advisors and clients make on their beneficiary designations. The mistakes include everything from not being listed properly in the beginning to not being updated during life changes. I have to admit, I am floored at how many people are concerned with this topic. Workshop attendance has been through the roof, and we are keeping it simple. We give them education materials, do a short presentation, hold a question and answer session, and stick around afterwards for additional conversations.
See also: Five common mistakes advisors make with their client appreciation and educational events and how to avoid them
Simply put, prospects appreciate that we educate them on all of the strategies they should be using in the planning process, rather than just trying to sell them a product. In turn, it has positively impacted the amount of business that comes our way. So if you are on the fence about choosing to give out free educational materials or offering educational workshops, go for it. You won't regret it. My experience in the insurance business shows that it is the number one way to prospect, outside of referrals, of course.