In search of the silver bullet?

By JHLynch

Sales First Aid


In search of the silver bullet — an exercise carried out by 70 percent to 80 percent of the insurance industry on a daily basis.

The criteria for a concept or program to qualify as a silver bullet it must possess several elements. First, it must either be free or so low cost that it doesn't even create a blip on the marketing budget radar. The cost of doing business concept has been discarded so anything that resembles a tool or resource should be free. Besides, why would one want to pay for something that they will just toss to the side in about 2 to 4 weeks because the hunt for the next free silver bullet will most likely be under way?

Second it must be have instant success. It must go from 0 to 100 in 1.5 seconds. It must start generating leads before it ever gets out of the box. In fact it should just come with 50 hot, lay down leads from the start. Essentially, it must create hundreds and hundreds of leads in hours if not minutes.

Last but not least it must produce tens of millions of dollars in annuity and life insurance premium within the first two days of its launch for anyone and everyone that has ever used the concept or program.

Sound ridiculous? It shouldn't. It's basically what I hear day in and day out speaking to advisors about marketing resources that will grow their business.

Here is the news flash ... there are no silver bullets or at least there aren't any free ones out there — no program that will generate hundreds of leads in a very short period of time. You aren't going to write millions in premium the first week. So recall the search party, call in the hounds and start focusing on solid, blue ocean marketing strategies that are combined with proven, non-traditional sales techniques and tactics.

Start focusing on ideal client profiles, target markets, lifestyle profile data, etc. Here is the bottom line ... Silver bullets are for killing werewolfs, not growing a business.