Annuities and Life Insurance

Demand for fixed and fixed indexed annuities have grown substantially in 2020. Any client who purchased an FIA before February 2020 from you should give strong recommendations to their friends. That said, lower long-term interest rates will put pressure on carriers to maintain caps and guaranteed income benefits. To capitalize on the market’s current opportunities, we recommend the following:

• Plan to put the vast majority of your business with carriers that can easily support remote sales.
• Consider the strategies on which you will focus. A change may require you to reassess the carriers with whom you work.
• Be prepared for rapidly changing pricing environments. Explain the market environment to your clients to avoid surprises if clients delay completing their applications.

Online Leads

We typically see our top individual agents pursue one of five business models for generating new leads: referrals, online leads, seminars, radio/television shows, or event sponsorship. In this section, we focus on online lead generation. We recognize that you may either continue to or start to purchase leads from vendors or from your Independent Marketing Organization.  For those who want to take personal control of their lead generation, we’ll cover some basics of online lead acquisition that you can run yourself. In any case, your lead strategy should be based on the clients you want to target, the marketing concepts that will work in this environment, and the products you want to sell in today’s market.

Location, location, location

Spending time researching where your prospects engage on social media will help you focus on a plan and be more effective in your lead acquisition. Be sure to consider not just audience size, but the extent of their engagement. For instance: you may find that your target audience is a sizeable one on Twitter, however their engagement is low – a telltale sign they will not be willing to accept your call to action. Conversely, you may find a highly engaged group of prospects on Facebook, sharing articles and willingly making trusted connections. This group may be an opportunity to pursue new leads.

TIP: Research regional groups on Facebook and even in your own neighborhood via platforms such as NextDoor or Patch.

TIP: Additionally, there are free social media listening tools that can help you better understand your target audience and better prepare your call to action.

Be Social, Helpful, and a Trusted Source

You wouldn’t stand in the corner and ignore the active chatter of a busy cocktail party, would you? If you’re not actively participating in the conversation via your preferred social media channel, you’re missing out on the opportunity to make new connections. Set a goal of joining the conversation and the best way to do is to offer help or advice. Saying, “How can I help?” is one of the most effective ways to encourage interaction and to listen to what your potential customer needs.

Being consistent on any social media platform with topical and accurate information will position you as the go-to resource when a prospect finds themselves in the market.

TIP: Salesforce: How to Generate Leads: Ten Strategies to Help You Generate New Leads

Partner Up

Speaking of being helpful, finding a partner who has equal or more influence via a social media platform may help introduce you to a new audience. While you wouldn’t want to partner with a direct competitor in your area, there might be other local influencers in, for instance, Real Estate or the local Chamber of Commerce who can partner with you on various topics, articles, and virtual events that could result in an increase in prospects.

TIP: Always consider being generous to your partner, they’re going to remember how you helped them and remember a good experience when the opportunity arises again.

Keep Them Warm

Bakers often use a warm oven drawer to nurture their breads, allowing them to grow. Consider the same sentiment when working with a lead list you already own. After welcoming them shortly after acquisition and offering to answer their questions or consider an appointment, take great care to consistently – and gently – keep in touch. Perhaps there’s a new article or rate information that’s interesting to share. Even once per month is enough to remind your audience that you’re here to help.

“Ad”ding to Your Strategy

Social media advertising can be very effective when you match engaging messaging with the right audience. By now, you’ve already researched your audience using social media listening tools or by engaging with them online. Take that information and create ads that inspire, inform, or entertain. Here’s a quick guide to getting started with Facebook ads, which are a great resource for generating quality leads at a low cost.