Marketing 101Article added by Antoine (Tony) Orr, Financial Consultant on February 3, 2012
Antoine Orr

Antoine (Tony) Orr, Financial Consultant

Baltimore , MD

Joined: July 13, 2011

My Company

To be successful in this business, producers need a hook to attract new clients. So, what are some of the successful and yet inexpensive marketing strategies (hooks) that are currently being used by top producers?

The number one challenge that every producer faces is the ability to get in front of new prospects. To accomplish this goal, producers will spend a ton of money on worthless leads or unproductive plate-licker seminars, while others may use print, radio or television to generate new business. Unfortunately, this type of marketing strategy is too cost prohibitive for the average producer, leaving him or her to rely on cold calls or to beg for referrals to attract new clients.

To be successful in this business, producers need a hook to attract new clients. So, what are some of the successful and yet inexpensive marketing strategies (hooks) that are currently being used by top producers?
  • Guaranteed income for life
  • Free financial college tips
  • Tax free retirement planning
  • Risk free retirement planning
  • Private pension plans
  • Asset protection strategies
  • Bank certificates of depreciation alternatives
  • Dump your 401(k)
These are just some of the many hooks being used. I use the word hooks because even the music industry knows that in order for a song to go platinum, it must have an awesome hook. It does not matter who the artist is. If they do not have an incredible hook, the consumer will not buy the CD.

The same is true for hunters and fishermen; if they do not have the right bait to attract their game, it will be a long day of doing nothing but sipping on a Bud Light while holed up in a tree stand or sitting on the shoreline of a creek. While this may be relaxing, it does not put food on the table.

Solution

So what can you do to attract new clients on a consistent basis? I suggest that you offer services that address the prospects’ immediate needs.

This does not mean that you sell them what you think they need, but that you ask the important question — how can I help you? For most Americans, this means showing them how to bring home more money, and how to have that extra money show up in their next paycheck. For others, it may be that they want to buy a house or a car, but they have credit issues. You need to be able to help them clean up their credit.

In short, consumers want their financial salesperson to be their financial solutions person. This means that producers need to meet prospects where they are and not where you want them to be. This simple, yet effective hook will generate activity and, by extension, increase a producer’s sought-after revenues.
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