What do Barney and IMOs have in common?Article added by Paul Mallett on April 29, 2013
Joined: September 27, 2012
Ranked: #19 (2,365 pts)
Some marketing organizations will most certainly go the way of Barney and the rest of the dinosaurs, but some will adapt to their environment and not just survive, but thrive.
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change."
More often than not, that quote is attributed to Charles Darwin, the English naturalist whose theory of evolution by natural selection became the foundation of modern evolutionary theory. As it turns out, it wasn’t actually Darwin that said it. The quote came from professor
Leon C. Megginson of Louisiana State University. Megginson did such a great job paraphrasing Darwin that most people to this day still believe it was Darwin that said it.
In spite of all that, I just like the quote. It applies as well to business as it does nature and, I believe, quite nicely to all the recent talk about the pending extinction of marketing organizations. Some marketing organizations will most certainly go the way of the dinosaurs, but some will adapt to their environment and not just survive, but thrive.
It’s all about value. It’s not about cool tools. It’s not about an extra quarter-point on this product or that. It’s about your marketing organization standing behind you, the agent, and providing you with the support you need to put you in the best position to succeed. That might be a tool, but it might not be. A tool is useless if you don’t know how to use it, or if it’s not the right tool for your unique challenge.
Today’s advisors demand more from their marketing organizations. They want a support team that will be there, on-demand, when that unusual case shows up. They want solutions that are specific to their unique challenges. They want
an “expert in their pocket” who will not only provide them with the best products available, but will also commit to whatever it takes to develop them into the best advisor they can be. That could be the latest mobile tools, but it could also be one-on-one sales coaching, personalized training programs, affordable and effective leads, or a host of things still on the drawing board.
They want help doubling or tripling their business, not making an extra couple hundred bucks. They want to know how to effectively help more clients achieve financial independence, not just which products pay the highest commission.
Some believe the insurance companies themselves will kill off the marketing organizations. Maybe, but I doubt it. Marketing organizations that have the capabilities and resources to thrive in this new millennium will also be innovative, disciplined and efficient enough to provide these value-added services for a much lower cost than the companies can. Insurance companies didn’t get where they are by making bad business decisions. They know good value when they see it, too.
I agree there will most likely be a thinning of the IMO herd, and there probably should be. After all, it was Rabbi Hillel who said, “He who refuses to learn deserves extinction.” At least, I’m pretty sure it was him.
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