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.
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For financial professional use only. Not for use with consumers.
The information in this article is for general information only.
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