What is the fifth huge mistake advisors are making today?
By Lew Nason
Insurance Pro Shop
So far, we have covered four huge mistakes that are keeping most advisors from reaching their full potential in this business. These huge mistakes are keeping most advisors from consistently earning a significant six-figure annual income.
Have you really looked at what you are doing in your practice? Are you making any or all of these huge mistakes? What are you doing about fixing these problems?
Mistake #1: Believing that your IMO, insurance company, organization, manager, recruiter or broker-dealer is going to provide you with the tools, tips, training and coaching to be successful in this business.
Solution: If you really want to succeed today, then it is up to you to get the life insurance and annuity systems, tools and training that you need.
Mistake #2: Relying on someone else for your sales leads.
Solution: Learn and practice the basics of attraction marketing. It's as simple as working to become well-known and respected by the people in your local community for the work you do.
Mistake #3: Not staying in constant contact with your current clients, friends, neighbors, family, prospects and everyone you know.
Solution: One of the easiest, most affordable and effective ways to stay in constant contact with the people you already know is to send them a monthly newsletter. By sending them a monthly newsletter, you're demonstrating your expertise in the best possible way, building more trust, confidence and credibility.
Mistake #4: Jumping into providing the solution before the client recognizes and truly understands the problems they are facing both now and in the future.
Solution: You must learn to ask questions and have a real conversation to get your prospects to tell themselves that they have a problem. The more your prospects talk about their problems, the more of a priority it becomes to solve those problems.
Are you ready to unlock your true potential by learning mistake number five? The fifth huge mistake advisors are making today is believing that hot, new sales ideas and programs are going to make you an overnight success.
These ideas and programs will help you present and sell your life insurance products once you're in front of the right prospect. However, besides their incredibly high cost of $3,000 or more up front (with ongoing annual fees), the problem is that they are missing one, two or all three of the following critical pieces.
1. They don't provide you with the superior marketing tools and techniques, with the essential tips and training you need to consistently attract the ideal prospects to you.
2. They don't provide you with the advanced questioning and fact-finding techniques you need to get your prospect emotionally involved enough to set better priorities and take immediate action based on your recommendations.
3. They don't help you "find the money" to fund those concepts.
Think about it. If this business were really about having the best products and sales ideas like people keep telling you, then why are 90 percent of new advisors still failing? And why is the average income for experienced advisors still only $40,000-60,000 each year?
If you want to acquire more of your ideal prospects than you can possibly handle, then you'll want to attract the people you have the best chance of setting an appointment with and selling. And, it's actually incredibly easy, if you follow three critical steps, learn one simple truth, and avoid these five huge mistakes.
The simple truth is: People don't care how much you know until they know how much you care.
Attracting people to you, setting appointments and closing sales is not about you, your credentials, your products or your hot, new sales ideas. It’s about them, the clients. It’s about showing them that you understand their situation and that you can and will help them to solve their financial problems.
5 life insurance selling lessons from fantasy football
3 insurance selling mistakes and what can be learned from them
What "Breaking Bad" can teach you about insurance sales