Understanding Generational Differences to Enhance Your Sales

By: Oscar Toledo, Director of Sales and Marketing, Partners Advantage Insurance Services

Our market space continues to evolve, and the better you understand that different generations have very distinct views about products, politics, religion, careers, and just about everything else, the more successful you will become. 

Sales techniques that are effective for one generation may come off as “pushy” for another. Generational differences are more significant in marketing and selling now than at any other time in our history. For one thing, there are currently more generations alive and active than ever before, as modern medicine and affluence have produced a revolution in longevity.

We need to try to understand how customers’ backgrounds affect their buying preferences. As an example, during my fact finder with a prospect, I begin with questions such as:

• Where are you from and what was it like growing up? 
• What did you learn about money growing up?
• What was the hardest lesson you’ve had regarding money?

I do this because the information they will share with me during the first half of the meeting will allow me the opportunity to better understand their buying preferences, and just as important, build rapport with them.

Contact Partners Advantage for complete training and sales assistance at 

888-251-5525, Ext. 700

Read the full article: “Better Understanding Generations to Enhance Sales” here. 

Fill out my online form.

For financial professional use only. Not for use with consumers.

Always follow your firm’s policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm’s employment process.
Partners Advantage Insurance Services and their representatives do not give tax or legal advice.  Accordingly, any tax information provided is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. Encourage your clients to consult their tax advisor or attorney.

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Don't Discount Millennials as a Sales Opportunity

By: Oscar Toledo, Director of Sales and Marketing
Partners Advantage Insurance Services

The early cusp of the Millennial generation is nearing 40 years of age! Millennials were originally known as the “Echo Boom” because they represent a surge in the number of births that came mainly as a result of the Baby Boomer generation having children of their own.  The Baby Boomer and Millennial generations are the two largest generations in American history.  Until the emergence of the Millennials, Baby Boomers were considered the most important demographic in commerce, marketing, and sales.

Millennials have lived for most of their youth in a time of broad economic and technological expansion.  Indeed, ease with technology and telecommunication is one of the hallmarks of Millennials, along with a sense of optimism and entitlement that comes from growing up in an “everybody wins” world that their very attentive parents (Baby Boomers) carefully structured and programmed.  

I encourage you to watch Simon Sinek’s video on YouTube titled: “Millennials in the Workplace.”  I believe you will gain good insight from this 15-minute video.

Selling Tips

• Tell them where to research and let them educate themselves so they can decide
• Stay in touch with and through technology
• Be a trusted resource and be yourself
• Don’t be pushy
• They’ll tell you when they’re ready to buy

Don't discount Millennials as a sales opportunity. They are the youngest and largest generation in the workforce. They have adopted an understanding that they need to save for retirement. Seventy-two percent of Millennial workers have started saving at the young median age of 22-years-old.2
 
Request the full article entitled: "Better Understanding GENERATIONS to Enhance Sales." 

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2Transamerica Center for Retirement Studies, August 23, 2016, "Retirement Insecurity: A Multi-Generational View" - http://www.prnewswire.com/news-releases/retirement-insecurity-a-multi-generational-view-300316823.html, last accessed 1/17/17.

For financial professional use only. Not for use with consumers.

The information in this article is for general information only.
Always follow your firm’s policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm’s employment process.

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Don’t Miss the Sales Opportunities with Younger Generations

By: Oscar Toledo, Director of Sales and Marketing

Partners Advantage Insurance Services

It was only a few minutes before the client seminar began, and as my team prepared to present, I noticed something I had not seen in my 18 years in the business.  I have done a number of client seminars throughout the years and have experienced strong success with them.  Because where else can you get 25 clients/prospects in one place and commit to a meeting with you at the same time?  

So, what was this new vision at my event? In the door walked a young prospect, in his early 20s. When we advertised the event, we were very specific in the age demographic we targeted; it was baby boomers. But here is a 20-something walking in and sitting down.  I asked myself if he was going to be a distraction.  The answer panned out quickly, yes, he was a distraction.  

He was actually responding to the questions being asked by the speaker and I was impressed with his answers.  It turned out he was a teacher in the local school district and he was interested in life insurance.  And not just term insurance, but it was an Indexed Universal Life policy.

Selling Across Generational Divides

Generational differences are more significant in marketing and selling now than at any other time in our history.  For one thing, there are currently more generations alive and active than ever before, as modern medicine and affluence have produced a revolution in longevity.

Of course, generational biases are not ironclad, and birth date does not dictate personality. The first step in applying generational tactics in selling is to learn about the generations by becoming familiar with each one’s characteristics, likes, and dislikes.

Once we do that, we need to understand how to sell across generational divides rather than allowing these differences to short circuit that crucial connection to provide the best service to our clients.

We need to try to understand how customers’ backgrounds affect their buying preferences.  As an example, during my fact finder with a prospect, I begin with questions such as:

• Where are you from, and what was it like growing up?
• What did you learn about money growing up?
• What was the hardest lesson you’ve had regarding money?

I do this because the information they will share with me during the first half of the meeting will allow me the opportunity to better understand their buying preferences, and just as important, build rapport with them.

Proper Fact Finding Creates Better Understanding and Results

Fact finding is similar to an MRI health scan. It helps you dive deep into your client's perceptions and financial make-up to better understand them, build rapport, help you understand their financial goals and start to identify how you can help them. Using a well-designed fact finder to understand your prospects and capture what is important to them is a key step in a successful sales process. 

Request the full article entitled: "Better Understanding GENERATIONS to Enhance Sales." 

Fill out my online form.

For financial professional use only. Not for use with consumers.

The information in this article is for general information only.

Always follow your firm’s policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm’s employment process.

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The 2-2-6 Program for Effective Business Building

By: Oscar Toledo, Director of Sales and Marketing at Partners Advantage
Insurance Services

You met with the client and made the sale. 

Congratulations! You're all done and can move on to the next potential client - right? 

You might want to reconsider that!

It's important that your practice management plans recognize that many times your very best prospects are right in your current client database. Don't leave business on the table or the opportunities to continue serving the needs of the clients you already know. Put a specific plan in place to cultivate your database, produce more sales opportunities and cultivate stronger relationships.

I use a "2-2-6 Program" to serve and cultivate my database. Here's how it works. Use your Client Relationship Management (CRM) system to trigger important follow-up reminders. You can also ensure you cover these steps by entering calendar reminders in your Outlook calendar or smart phone right after you close the sale.

2-2-6 Program:

• 2 Weeks After the Sale: Send a personal email and/or call the client to see if they have any questions that have popped up about the financial products they chose.
• 2 Months After the Sale: Follow up in two months to ask if the client has any questions concerning their new policy and how it works.  
• 6 Months Later: Follow up in six months to review coverage, ask if they have had any life changes that might require added coverage.

Annual Reviews:  It is important to schedule annual reviews with clients in order for them to understand the value in your recommendation.  Also keep in mind, most people don’t disclose all their assets to you during the first sale.  Go back to continue to cultivating the relationship.

Your client could have any number of issues suddenly appear in their lives. Here are just a few reasons the 2-2-6 program and annual reviews are so important:
- Death of a parent, spouse or child
- Receiving an inheritance
- Divorce
- New additions to the family via adoption or birth
- New marriage
- Seeing a friend/family member struggle with health and financial concerns related to long-term care needs
- Health change/issue

Most carriers are now paperless, so you don't receive clients' annual statements from carriers via postal mail anymore. These used to be good reminders to reach to your life and annuity clients. Now, you need to have your own system to trigger follow ups. 

You can gather this information by logging into the carrier websites to view your clients' annual statements each month. This is an important practice management task. Once you gather the updates, be sure to make the follow-up calls and you may very well uncover new needs with your clients.

If you don't have time to retrieve the annual statement information from carriers, you can choose to use a technology solution. These technology solutions are generally subscription based and they do the research for you! These systems locate all the policies you've written under your license number from all the carriers you choose. Information is provided such as, policy anniversary date, annuity in-force premium amount, if the term period still allows for conversion, etc. It feeds the information right to your inbox. It's a small investment to help you continue to mine your database and provide valuable service to your clients. Keep in mind, people like to do business with someone they have done business with in the past.

In addition to utilizing the 2-2-6 program and annual reviews, here are a few additional tips:

Relationship Building:  Your clients should not just be clients; they need to become part of your extended family.  Keep in touch with a friendly call or card. And if you’re placing your client in a position of success, why wouldn’t they inform fellow members of their church, bowling league, county club, etc., about the value that you bring to their household. Every sale and just a meeting with a new prospect warrants a thank you note. Even a “no sale” could possibly lead to a wider referral base of future sales. When you are confident you have helped the client and built an ongoing relationship, you can feel more comfortable asking if they have friends or family that might have similar needs (referrals).

Client Advisory Board: Creating a client advisory board provides valuable feedback about your practice from clients.  It's an effective and inexpensive way to learn how to improve customer service, the office experience and your overall practice.

We all know this is a relationship business. Be sure you are structuring your practice for success.

Contact the Partners Advantage Brokerage Team for additional information and complete sales assistance: 888-251-5525, Ext. 700

About the Author:
Oscar Toledo, Director of Sales and Marketing, Partners Advantage
Oscar Toledo has spent 18 years in the insurance industry as a business consultant and in personal production. He has helped hundreds of financial professionals and agencies grow their life, annuity and linked benefits business by providing innovative sales concepts, extensive product knowledge and superior support. He has also qualified for the Million Dollar Round Table for several years as a personal producer - CA License #0E38226. He can be reached via phone: 888-251-5525, ext. 124 or email at otoledo@partnersadvantage.com.


For financial professional use only. Not for use with consumers.

The information in this article is for general information only.

Always follow your firm’s policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm’s employment process.

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Developing Business Relationships with CPAs

By: Oscar Toledo, Director of Sales and Marketing, Partners Advantage

A common inquiry I receive from insurance professionals is the request for leads. We all look for those creative ideas that will help place us in front of the right clients. One suggestion is to partner with CPAs that have mutual business values and are willing to work together to develop prospects for both of you.

The first step in getting to know possible CPAs is to get to know their gatekeepers. You will find more success getting past gatekeepers if you treat them as decision-makers. Ask them a few questions about the business and make sure you make it clear that you don’t want to waste the accountant's time – or the gatekeeper's time. Communicate your reason for the visit/call and qualify the CPA. Do they already work with an insurance professional/advisor? Ask for a place on their calendar.

Once you are in the door, here are some key questions to ask during your first meeting with the CPA:

• Who is your target client?
• What kind of services do you offer?
• What are your strengths/challenges?
• What is your ideal working relationship?

Remember, the focus is to get to know them.  

Help them understand you are looking to establish a business relationship to benefit them, your shared clients, and you.  Provide examples of the type of services and solutions you offer. 

Formalize your relationship by discussing your roles and developing a plan. You should also walk the CPA through the process you take your clients, such as:

• How often you meet with your clients
• Fact-finding
• A discussion with the client to inquire about their current CPA relationship as well as other industry professionals such as attorneys, P&C, etc. 

Be a resource for the CPA, just as you expect them to be your resource. Offer to have their website link on your website, reference them in your client monthly newsletter, or ask if they would like to write an article for the newsletter.

Having a relationship with CPAs with mutual business values will help both of you develop your prospects and strengthen both of your businesses.  

Looking for more CPA relationship resources? Contact me at 888-251-5525, ext. 124 or by email at otoledo@partnersadvantage.com


For financial professional use only.  Not for use with the public.

This material is intended to provide general information only. It is not intended to render legal, accounting, Social Security or tax advice, and the services of those professionals should be sought. Financial professionals who utilize this material may be able to identify potential retirement income gaps and introduce products, such as fixed annuities, as potential solutions. The testimonial may not be representative of the experience of other financial professionals and is no guarantee of future success.  

Always follow your firm's policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm's employment process.

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Partnering with CPAs to Cultivate New Clients

By: Oscar Toledo, Director of Sales and Marketing, Partners Advantage

The economic times of today leave many financial professionals searching for ways to find new prospects. One way to help fill up your appointment book throughout the year is to team up with a CPA. Accountants are typically eager to become partners, as it can be a beneficial relationship for both of you. 

Here are six steps that could potentially help you establish a successful working relationship with a CPA that will benefit everyone; the client, the accounting professional, and you.

Step 1: Prepare your interview with the CPA
Before you meet with a CPA, you need to prepare. Create a bio sheet or brochure that best describes your services and added value. This, along with your business card, is the only thing you need to leave behind. If you don’t have a bio sheet or brochure but wish to create one, this is an opportunity for you to review all your marketing programs and update them as needed. Along with this, you need to perfect your elevator speech.  

Keep in mind; they need to understand how you will help the client relationship and the steps you will take to enhance their reputation.  A great question you can ask the CPA is, “Are you concerned with what’s best for your clients?”

Step 2: Develop a plan
Create a list of professionals in your area and do your homework on this list. Check their social media sites, find common bonds and interests, and determine their fit on your team. Develop a drip campaign of scheduled contacts with these industry professionals. Consider upcoming meetings you may be hosting such as an agent training for your downline agents or a client seminar and invite these professionals to attend.  

Step 3: Work your plan
Consider unscheduled in-person meetings.  Keep them short; 10 minutes or less. You can also schedule these meetings if preferred. It’s important to have a purpose such as providing client approved pieces and discussing new tax developments.  

Step 4: Do unto others
A crucial step in building and maintaining a strong network is making an effort to give quality referrals. You have to give referrals if you expect to get them. Consider coming in with a list of clients that are in need of a CPA. Taking the time to dig deep into your current and prospective client base allows you to better pinpoint the clients you are looking for and improve your success of offering a combined solution that fits their personal and financial needs.

Many clients will find a package deal of expertise very appealing and will hopefully rely upon both of you and your individual knowledge as their needs and goals change. 

Step Five: Be patient
Be realistic – relationships take time. Don’t expect referrals right away. A trusting, quality relationship is not one you create overnight, but putting forth effort will build a strong foundation. 

Step Six: Monitor results
You should monitor results over time and consider repeating steps 1-5 as needed. Keep the dialogue with the CPA office open and ongoing. Consider scheduling standing quarterly meetings to discuss industry updates and the relationship.

Putting effort into this relationship can help create a profitable referral system. When combined with deliberate planning and a strategy, you can create a solid foundation where your referral network can continue to grow. 

Fill out my online form.

For financial professional use only.  Not for use with the public.

This material is intended to provide general information only. It is not intended to render legal, accounting, Social Security or tax advice, and the services of those professionals should be sought. Financial professionals who utilize this material may be able to identify potential retirement income gaps and introduce products, such as fixed annuities, as potential solutions. The testimonial may not be representative of the experience of other financial professionals and is no guarantee of future success.  

Always follow your firm's policies and procedures regarding review and use of third-party templates, creation and distribution of client and prospect materials, hosting of client and prospect events, offering giveaways or prizes, and your firm's employment process.

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Education That Causes Sales and CE Coming to the Midwest and Southeast

The Partners Advantage Great 8 Boot Camps are coming to:
Omaha - August 23
Des Moines - August 24
Chicago - August 25
Minneapolis - August 26

These full-day workshops will focus on education to expand your knowledge and fuel your sales success, including:

• Proven strategies in selling indexed universal life insurance
• Consumer study group language that works
• Your smart solution for legacy assets
• The asset-based LTC opportunity
• Case studies and sales ideas

Then in September we are headed to:
Atlanta, GA - September 13
Charlotte, NC - September 14
Orlando, FL - September 15

Attendees will receive a WebCE® Voucher good for one complimentary CE Course!*
(Good for up to 15 hours of CE credit, depending on the course selected.)

Led by nationally recognized indexed product educator Charlie Gipple CLU®, ChFC®, the workshops focus on "Education That Causes Sales." Walk away with techniques and information you can immediately implement!

LEARN MORE HERE.

The event is open to licensed financial professionals and hosted by Partners Advantage.

For financial professional use only. Not for use with consumers.

*This voucher is good for one (1) complimentary CE course. Not available for some specialty courses or packages. This voucher includes the course material, exam, grading the exam, certificate of completion and state reporting, where required. Additional charges for paper materials, shipping, and state filing fees may apply. The course and exam must be completed within 12 months of course selection. Some states limit the number of CE hours that may be taken through self-study or correspondence. Be sure to check your state requirements before ordering.

The testimonials may not be representative of the experience of other financial professionals and are not a guarantee of future success. The financial professionals who provided these testimonials did not receive any compensation for providing these comments.

The third party information and opinions included in these presentations have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Partners Advantage. Although we may promote and/or recommend the services offered by these companies, financial professionals are ultimately responsible for the use of any materials or services and agree to comply with the compliance requirements of their broker/dealer and registered investment advisor, if applicable, and the insurance carriers they represent.

Tuition fee for each Great 8 Boot Camp attendee is $100. The fee, payable in U.S. dollars, reserves your seat. A USD $100 advance deposit per participant is fully refunded to attendees who are present for the entirety of the meeting. The tuition is payable to Partners Advantage on or before the first day of the Great 8 Boot Camp and can be made via acceptable credit cards for tuition payments (VISA, MasterCard, American Express, Discover). 24-hour notice must be given prior to event for full refund. The manner of reimbursement will generally coincide with the manner in which the tuition was paid within a reasonable amount of time following the event when attendance can be validated.

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Great 8 Road Show comes to Irvine, CA on July 12! Register Today!

Education to Fuel Your Sales Success! Be Inspired. Expand Your Knowledge. July 12 - Irvine, CA -Hilton Irvine/Orange County Airport Attendees will receive a WebCE Voucher good for one  complimentary CE Course!*  (worth up to 15 hrs!) The "Great 8 Boot Camp" is led by nationally recognized indexed product educators Charlie Gipple CLU®, ChFC® and Oscar Toledo from Partners Advantage Insurance Services. When you attend the Great 8 Indexed Boot Camp you will walk away knowing more about Life Insurance, Annuity and Linked Benefit products. Our Carrier Sponsors include: Allianz Life Insurance Company  of North America Click here to view a sample agenda of presentation topics Reviews from Financial Professionals Attending Previous Workshops >> HERE The event is open to licensed financial professionals and hosted by Partners Advantage. For a limited time only use promo code JULY100OFF  to register for July boot camp to receive $100 off the tuition fee!  Not located in Southern California? View other cities and dates below: August 23 – Omaha, NE Embassy Suites by Hilton Omaha Downtown Old Market 555 S. 10th Street, Omaha, NE 68102 August 25 – Chicago, IL Hotel TBD in Rosemont Area August 24 – Des Moines, IA Holiday Inn Hotel & Suites West Des Moines-Jordan Creek 6075 Mills Civic Parkway, West Des Moines, IA 50266 August 26 – Minneapolis, MN The Westin Edina Galleria 3201 Galleria, Edina, MN 55435 Please contact the Partners Advantage Brokerage Team at  888-251-5525, Ext. 700  For financial professional use only. Not for use with consumers. *This voucher is good for one (1) complimentary CE course. Not available for some specialty courses or packages. This voucher includes the course material, exam, grading the exam, certificate of completion and state reporting, where required. Additional charges for paper materials, shipping, and state filing fees may apply. The course and exam must be completed within 12 months of course selection. Some states limit the number of CE hours that may be taken through self-study or correspondence. Be sure to check your state requirements before ordering. The testimonials may not be representative of the experience of other financial professionals and are not a guarantee of future success. The financial professionals who provided these testimonials did not receive any compensation for providing these comments. The third party information and opinions included in these presentations have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Partners Advantage. Although we may promote and/or recommend the services offered by these companies, financial professionals are ultimately responsible for the use of any materials or services and agree to comply with the compliance requirements of their broker/dealer and registered investment advisor, if applicable, and the insurance carriers they represent. Tuition fee for each Great 8 Boot Camp attendee is $100. The fee, payable in U.S. dollars, reserves your seat. A USD $100 advance deposit per participant is fully refunded to attendees who are present for the entirety of the meeting. The tuition is payable to Partners Advantage upon registration for the Great 8 Boot Camp and can be made via acceptable credit cards for tuition payments (VISA, MasterCard, American Express, Discover). 24-hour notice must be given prior to event for full refund. The manner of reimbursement will generally coincide with the manner in which the tuition was paid within a reasonable amount of time following the event when attendance can be validated. Astro #45294 46464