Selling Insurance: Photo Images

  

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by Dan Viñal

Display Ads / Seminar Slides / Websites / Social Networks

Do you use photos in your marketing materials? You should. Psychologically, your prospects will draw inferences from the photos and imagery they associate with you and your business.

That's why the choice of photos and imagery is much more important to communicating effectively and getting results with your clients and prospects than you might think.

And that's because the human mind (both conscious and subconscious) is highly influenced by these elements. It's the basis for the often used adage: "a picture is worth a thousand words".

However, I would alter that by saying that "a picture CAN be worth a thousand words" . . . because many pictures – just like many thousand word brochures – actually "say" very little.

And worse, many pictures can elicit the wrong impression. Especially "staged" photos, like those that portray very good looking people - happy, smiling or laughing.

These are the type of photos that advertisers like to use, because the average person is attracted to good looking people, and to situations where people are enjoying themselves.

And this is absolutely true.

Because advertising is mostly about "attracting" someone's attention, and much less about engaging their interest or actually communicating useable or viable information.

However, most marketing material (websites, brochures, slide presentations, etc.) are not intended to "attract" people - but to engage, inform and compel them to take action.

And that requires "believability" or credibility – especially when the topic is serious (like money) and you're selling insurance or annuities.

People don't "buy" the carefree retirees in the golf cart anymore.

Phony models, smiling and laughing, or posing for the camera are not real. And people see right through those images. They know they're "staged" and they don't trust them.

Of course you should use photos in all your marketing material – including any advertising you do. But the type of photos you use should be much different than what I see in display ads, websites and sales videos.

For example, use photos that show you working with clients – in your office or in the client's home. Show yourself in your environment, doing what you do.

This looks real and believable, simply because it's true.

Don't pose for the camera, or look directly into the camera. Have your photos taken candidly, while you are working with a client, talking to an office assistant, or presenting a seminar.

If you have a staff of people in your office, don't put up a picture of the whole company standing together out in front of your offices. Have photos taken of your people in their offices or cubicles, talking on the phone.

Definitely use photos.  They can be very effective.

But always portray yourself and your company as real people in real situations, and your prospects will subconsciously find you and your proposition more credible and trustworthy.

Dan Vinal is a sales communication expert and the president of WebPrez Videos for insurance agents and financial advisors. He can be contacted at dvinal@webprez.com.

Selling Insurance: Database Prospecting

  

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by Dan Viñal

Prospecting should not be a problem for anyone selling insurance. It should be a process.

However, prospecting IS a problem for most of us, simply because a process can take some time and effort to set up - and even more time and effort before it begins to produce results.

And if you cannot sustain yourself financially while the process is working for you – then you cannot afford to permanently resolve your prospecting problem.

A Prospecting Process Requires A Financial Investment

Studies have proven that the number one cause of business failure (even a one person business) is undercapitalization – not enough money.

To succeed in any business, you need enough money to buy yourself time and enough money to invest in your own marketing.  And if you don't have it, your business will probably fail.

So What's the Best Prospecting System for Selling Insurance?

If you can sustain yourself financially while your process ramps up, Database Marketing is the solution. Database Marketing is also refereed to as "Drip" or Passive Marketing.

It's used by almost every type of business. And it's been proven to work – every time.  Yes, every time. It is not one of those methods or practices that works for some people, but not others. And not just for some products, but all.

Database Marketing has been proven over and over again, to work for every sales professional or business enterprise. And it is NOT expensive. It can be done quite readily on a very minimal budget.

Database Marketing Defined

Essentially, database marketing is simply delivering valuable information or interesting ideas (including innovative products or services) on a regular and continuous basis to a list of people (your database) who meet your target market criteria.

That's it. That's the basic definition of database marketing.

Of course it can be done successfully in various ways. But the most common, easiest and cheapest for insurance agents and financial advisors, is to:

1. collect or purchase the names and email addresses of people who meet your target market criteria;

2. enter that information into an email database system like Constant Contact, iContact, MailChimp or aWeber;

3. and send them valuable information or interesting ideas once or twice a month.

Invite Questions – Be the Answer Man (or Woman)

Two things will happen: 1) the people in your database will begin to trust you, because you are sending them interesting and valuable information; and 2) when people are ready to buy, they will let you know.

And if you invite questions, and NOT requests for more information, you'll begin to get questions from qualified prospects - usually within a month or two.

Remember, research has show that people buy for their reasons – not ours; and when they're ready – not when we want them to.

What's more, their reasons can change from day to day, and be "influenced" by occurrences beyond our control.  That's why buyer motivation is a moving target.

So instead of trying to hit the target, let the target hit you!  You've often heard the adage "right time, right place"?  Well, that's how database marketing works.

By keeping your name (and the solutions you offer) in the minds of the people in your database, they will most likely think of you when something in their life causes them to think about insurance or annuities.

After all, isn't it easier to work with people who contact us when they are ready to make a buying decision – than to try to persuade or convince someone to make a buying decision when they aren't ready?

IMPORTANT: If you need interesting ideas and valuable information to send out to the people in your database, try WebPrez videos. Click Here to Learn More

Selling Insurance with "Implicit" Referrals

  

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The psychology behind selling insurance through referrals is all about trust and credibility.

So not only are referrals an excellent way to prospect for new clients, but referrals should also be used in your sales presentation.

In fact, every major company trains their sales people to use what I call "implicit" referrals, in all their business to business solicitations.

And every agent or advisor selling insurance can be using the same technique just as effectively.

The Psychology of "Implicit" Referrals

You see, every big company publishes a list of their clients or customers – especially those with brand name recognition.

Accenture, for example (formerly Arthur Andersen). Click here to see how they do it on their website: http://www.accenture.com/us-en/client-successes/Pages/index.aspx

And their sales people are taught to leverage this list by impressing their prospects with the other companies who are doing business with them.

This has a very subtle, but substantial effect on decision makers.

Psychologically they judge the company and its sales reps by the quality or quantity of their client or customer list.

It's as if the people or companies listed have made an "implicit" referral – effectively saying:

"We've already checked this company out, and have decided to buy from them or engage their services."

"And if they were not a valuable resource to us, we would not be using them. So you can trust them too."

When a prospect sees who else has "vetted" you or your company, they feel confident in doing business with you, simply because other buyers have already chosen to buy from you.

And this can be done successfully by anyone - regardless of how long they've been selling insurance or how many clients they have.

Here's How You Do It:

Make up a list of ALL your clients.

And I mean ALL your clients – even if you haven't seen them in years.

List only their names, ages (if relevant to your target market), their city or town of residence, and the number of years they've been with you, or the policies they have with you.

And if you have their permission, you can also include an email address or phone number - which is validating and adds even more credibility to your reputation.

If you do business in both the personal and business markets, be sure to create separate lists.

If you're relatively new to the business, and only have 20 or 30 people who have bought from you – title the list something like "My Top 20 Clients" (which of course they are).

If you've been in business for many years and can boast a long list of people who have bought something from you – include them ALL.

It's the quantity of the list that lends credibility to you.

Now This Is Important:

Put your client list in their hands BEFORE you meet with them, or prior to calling them to schedule an appointment. 

Because research has proven that people will form an opinion of you, before they actually meet you.

And that's because their real first impression of you is in their minds, and is biased by previous experiences and stereotypical expectations.

In fact, many decisions to buy or to not buy, are often made subconsciously - before your prospects actually meet with you.

Which is why you need to influence their preconception of you, and precondition your prospects to trust you - even before they meet with you.

The psychological impact of this tactic has been proven, so please try it yourself, and let me know how you think it effects your sales results.

Producing Your Own Annuity or Insurance Sales Videos

  

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by Dan Viñal

With video quickly becoming the most popular and effective form of insurance and annuity sales communication, agents need to understand what constitutes an effective video.

Jerry Bader is Senior Partner at MRPwebmedia, a website design and marketing firm that specializes in Web Video Marketing and Video Websites.

From an article he recently wrote on developing your own business videos:

". . . your image and message are far too important to leave up to amateurs who don't understand how to develop and present a marketing message using the web video medium."

"For those who think that professional web video is too expensive, I would advise the real cost of "do it yourself" amateurism is lost sales and reputation."

Jerry's point is that anyone can make a video - just as anyone can cook a meal.

And the difference between a video done correctly (as well as professionally) and a video done incorrectly or amateurishly, is little different than a good meal prepared by a professional chef and a meal you prepare for yourself. They just don't come out the same.

In addition to the "do it yourself" amateur video productions, there are also hundreds of video production companies that are quite capable of the technical production (filming, graphics and animation) but very, very few are as professionally competent at message development and script composition as well.

And that's where a video can do you more harm than good.

Because the quality of the message composition (the script) used to produce a video, is crucially important to both the results you get and the image you portray.

And not only the message composition - but how that message is conveyed visually, audibly and psychologically.

"The truth is" says Jerry, "you can get away with a lot of technical stuff on the web, but you can't ever get away with inferior messaging - both in concept and performance."

He goes on to say that ". . . web video is an exercise in psychological persuasion - not a display of technical wizardry."

Jerry concludes by saying: "Everybody likes to save money . . . but saving money at the cost of your company's reputation and identity can be a costly mistake."

"If you don't understand how to convert your message into a meaningful story, it is best you find someone who does."

Click Here to Read the Entire Article 

Click Here to Sample Our WebPrez Insurance & Annuity Videos

How To Sell Insurance Effectively: Key Man Coverage

  

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by Dan Viñal

Want to know how to sell Key Man insurance effectively?

Sell the Need! Sell the Need! Sell the Need!

It's been proven in study after study.  When you focus on selling the need, you necessarily focus the prospect's attention on a problem -which motivates them to avoid the "pain".

So when you Sell the Need, your Prospects will Buy the Coverage.

For example, here's how to sell the need for Key Man insurance:

Let's say that you're talking with Mark, a small business owner.

Here's what you would say:

Mark, did you know that more than 2 million employees, between the ages of 35 and 55, die - every year?  And did you know that more than 2 million others are permanently disabled - every year?  Traffic accidents, cancer, stroke, heart disease - it happens every day Mark. 

But when one of these 2 million is a “key” person in your business - one of the people who gives your business its competitive advantage in the market . . . the effects on your business can be costly, as well as disruptive.

Because when your business loses one of its best people - you also lose sales, lose revenue, and lose customers to your competitors. Or you lose the ability to produce or deliver efficiently.

It might be your best programmer, your top sales person, or the project manager everyone relies on.

And losing them can affect your company's profitability, Mark.  It can affect your customer relationships, your market position, your employee morale - even your credit lines and your investor confidence.

But these people cannot simply be replaced, like other employees Mark.

Because these people have unique talents, special proficiencies, technical knowledge, influential connections, and years of experience . . . which is what makes them so valuable to your business.

So who are these key people in your company Mark?

And how difficult would it be to replace one of them?

How long would it take, and what effect would it have on your business?

How to Sell Insurance Effectively?  Sell the Need!

When you sell your prospects or clients on the NEED, and keep them focused on their risk of loss, the product sale becomes a matter of choosing the best solution – not deciding on whether or not to buy.

Insurance Sales Tips: Make Them Read What They Hear

  

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by Dan Viñal

Clinical research has shown that our brains process, understand and retain words that we read (on average) twice as effectively as words that we hear.

So when talking with your prospects or clients, it is important that whatever you tell them (whatever they hear) is also reinforced by what they read - text or graphics (charts, diagrams, illustrations).

What's more, if the words are read and heard simultaneously, the result is even better.

That's why children are taught to read by listening to the teacher's narration while following along as they look at the words the teacher is reading in the same book – word for word.

But as adults who can read for ourselves, the benefit of reading what we're hearing is improved clarity and focus – so that our brain's are not as likely to misinterpret the meaning of the words we hear.

The reason for this is that we all have a cognitive predisposition to hear what we want or expect to hear, so we filter out or conveniently ignore information that doesn't automatically resonate with us.

Our brains even hear words that are not actually said - only because we expect them to be said or because we heard them before, within a similar context.

For example, the words "insurance" or "annuities" are often subconsciously interpreted negatively (even though the words themselves are neither negative nor positive) simply because the media has made these words "controversial" – if not adversarial.

That's why a prospect might argue or disagree with you – even though you are presenting indisputable facts. It's not that they don't accept the facts.  It's that they've not actually heard what you've told them – at least not word for word.

So to be sure that your clients or prospects actually understand what you're telling them, direct their attention to a slide or sheet of paper with the same words you are saying. And then ask them to tell you the meaning of what you've told them.

For example: "Bob, I just shared with you the advantages of Fixed Index Annuities over both Mutual Funds and Bank CDs. But would you please tell me what this means to you?"

Bob's explanation will tell you right away if he really did "hear" you, or if he did not processing the information in the same way that you intended it.

So this Insurance Sales Tip is to have your prospects read the same words that you speak to them, and then ask them to explain the implications of what you tell them in their own words.

This technique will substantially improve your insurance sales results, because it will virtually eliminate confusion or miscommunication between you and your prospects.

Selling Insurance: Cash Value Banking

  

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Selling Cash Value Life Insurance for Private Equity Banking

When selling insurance, people always respond best to real life examples, stories or anecdotes that describe and explain the benefits or advantages of the insurance solution you propose.

For example, when it comes to selling insurance based on the Infinite Banking or Be Your Own Banker concept (what we at WebPrez refer to as Private Equity or Cash Value Banking) many agents "lose" their prospects in detailed, complex and confusing explanations.

And the longer it takes you to describe and explain this concept, the less likely you are to sell it.

Short Story Effectively Explains How It Works

A much more effective way to introduce the concept in a way that makes it much easier for your prospects to understand, is to tell a story or give an example of how it works in a real life situation – like this short explanation featured in our Private Equity Banking video.

Here's how it goes:  Greg's father taught him the Private Equity Banking concept right out of college in the early 70s.

And Greg began funding his own “bank” with a $5,000 graduation gift he had gotten from his grandmother, and continued funding it with 10% of his monthly income - earned as an accountant.

Greg bought his first new car in 1975 for $3100 . . . with a loan from his personal "bank" - which he paid back to himself over three years at an interest rate of 10%.

Greg continued to deposit 5% of his earnings, as well as half of his annual bonuses, which has grown and compounded without taxation into a sizable asset.

Adding to his account value over the past 35 years, Greg has paid himself interest on the purchase of 14 more cars . . . 6 for himself, 5 for his wife, and one for each of his 3 children.

In fact, Greg has paid himself more than $300,000 of principal and interest on his own loans.

And with the money he's saved from all his regular deposits, plus interest earnings, he now has more than $1,000,000 in his Private Equity Bank - from which he will withdraw a tax free monthly income when he's ready to retire.

Examples are More Effective Than Analogies or Metaphors

This little story takes no more than 90 seconds to share with someone, but it invariably results in them asking you questions and wanting you to provide them with more information.

Of course, if you want an even easier way of selling insurance using the Private Equity Banking concept, simply ask people to watch the short five minute WebPrez video.

Click Here to Watch it Now

Insurance Sales: Weiss McGrath Retention Study

  

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by Dan Viñal

Part of the underlying mechanics of what makes video so powerful as an insurance sales tool, is that it can significantly improve both the comprehension and retention of your message.

Weiss McGrath Retention Study

According to the Weiss-McGrath Retention study, audio/video alone can increase message retention (after 72 hours) by more than 600% over verbal or auditory communication, and more than 300% over written or visual communication.

This study shows that your clients and prospects forget 90% of what you said or told them within 72 hours.

Which means that after 3 days, they only recall 10% of what you said to them! No wonder they don't seem to "get it".

They've forgotten all the reasons you gave them for buying!

Video Improves Sales Communication

But if you use a video, they will remember 65% of what you "show and tell" them.

That's a critically important difference for two reasons:

1) very, very few people make purchase decisions right away; and

2) it's often impossible for you to talk with a prospect again – within hours or even days.

"Kinetic Typography" is Even Better

But not all video is equally effective at improving the comprehension and retention of your insurance sales message.

A relatively new technique, known as "Kinetic Typography", can make another significant difference.

Kinetic Typography means that the text of the narrative is displayed on the screen along with the narrator's voice, so that the text and the narrative are synchronized.

In other words, the viewer is reading and listening to the same words at the same time.

So the brain is processing the same information (through the eyes and the ears) at the exact same time.

This technique can improve both comprehension and retention of your message by another 15 to 25% - raising your prospect's recall to as high as 90%.

WebPrez Videos Feature "Kinetic Typography"

And now you can take advantage of Kinetic Typography to improve your own insurance sales communication. 

Because it's one of the more than 40 scientifically proven communication techniques used in the composition and production of all WebPrez insurance and annuity sales videos.

Click Here to Preview the Videos Now and See for Yourself.

Selling Insurance: Seven Sales "Sins"

  

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by Dan Viñal 

What Insurance Buyers Would Tell You

A recent survey revealed that the single biggest complaint people have about "sales" people (all sales people - not just insurance agents or financial advisors) is that they talk too much.

Second biggest complaint? Talking too fast. Third biggest complaint? Not listening.

Other studies have confirmed this, and have also revealed four other critical impediments to sales success:

• using words or terms they don't understand – especially acronyms, jargon, and technical terms
• physical affects that distract or disturb – especially clothing, ornamentation, and hygiene
• professional demeanor, style or personality – especially a lack of empathy or "connection"
• focusing on the product or service -especially before the need or want is established

Even Minor "Infractions" Can Cost You Sales

Any one of these breaches can (and usually do) compromise your sales success, which means that they result in fewer sales - so you earn less money than you should.

Fix Your Faults and Reap Your Rewards

Research has also shown that insurance agents and advisors who conscientiously resolve their own failures or mistakes in all seven "sins" experience a substantial improvement in their sales results.

And that diligently correcting or improving yourself in these seven areas will have a greater effect on your career success than anything else you can do.

Two Types of Insurance Sales People

People who are successful selling insurance typically fall into two categories.

They are either gregarious types whose dominant strength is the ease with which they engage people and develop personal relationships.

Or they are the professionally competent types whose strength is in their knowledge, skill, experience and expertise. 

Of course many insurance agents and financial advisors are combination of both. But invariably one or the other will dominate their nature.

And both types can and often are guilty of all seven sales "sins" – at least to some degree.

Learn to Create a Favorable Impression Every Time

So over the next seven weeks, we will address each of these seven separately, and provide you with specific ways to improve the way you impress your clients and prospects - every day, in every way.

And the result will make selling insurance easier, more enjoyable, more productive, and more profitable.

How To Sell Insurance in "412e3" Pension Plans

  

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by Dan Viñal

Big Dollar Tax Deductible Life Insurance Sales

Want a fast, easy way to start a productive dialogue with successful professionals, small business owners and independent contractors . . . a discussion that leads to a big dollar tax deductible life insurance sale?

According to a Gallup Small Business Index survey (sponsored by Wells Fargo in 2007), 6 out of 10 small business owners and professionals intend to delay their retirement, because they haven't saved enough money.

Many of them are already in their 50s or 60s, approaching retirement, earning more than ever, and paying more in taxes too.

But like most professionals and small business owners they couldn't afford to save much money when they were younger, because all of their profits went to paying off debts, or were put back into developing their practice or building their business.

And now that they have the profitability to save more, their high tax rates and short time frames make it almost impossible to save enough for 20 or 30 years of retirement.

The Second Chance "Late Start" Pension Plan

So what's the solution?  Internal Revenue Code Section "412e3" (formerly IRC 412i)

The IRS created the 412e3 pension plan exclusively for small business owners (like most franchisees) and self employed professionals (like physicians, engineers, accountants or attorneys) and 1099 independent contractors (like sales agents or manufacturers reps) . . . ideally with fewer than five much younger employees.

412e3 plans enable self employed individuals in their 50s and 60s to make tax deductible contributions as high as $100,000, $200,000 or even $300,000 each year - until they retire.

And these plans must be “insured” - which means that they can ONLY be funded with Life Insurance and Annuities . . . Equity Investments or Securities are NOT allowed.

Learn How to Sell Insurance within 412e3 Pension Plans

Maybe the best way to quickly introduce the benefits and advantages of the 412e3 pension plan is to simply ask your prospects to watch the five minute WebPrez video.

Click Here to Preview the “412e3” Video Now. It's the fifth one down in the second column under Business Insurance.