The Free Consultation Strategy

I refer to this marketing strategy as the “let me see if I can help you” offer. You may meet people downtown on the street, at a restaurant, at a party, etc., and they may ask you how to take advantage of your services or your expertise. They may question whether or not they need or should utilize you/your services/products. What is the best way to handle this?

I find that most insurance agents immediately start “selling” these people on their services/products and try to convince them to come into their office right away. There is a better, more strategic way to handle this. Instead of jumping right into a sales pitch, try incorporating this “let me see if I can even help you” offer into your dialogue. Let me explain.

For example, if someone approaches you about your services, your first instinct may be to start trying to sell them on how and why you can help them. Don’t do that. Instead, offer them an opportunity to come into your office to talk to you so that you can determine (after closer evaluation) whether or not you are able to even help them with their particular problem. It’s a free initial consultation, free evaluation. (As always, make sure you’re legal and compliant)

Don’t try too hard to sell them on why they should use you. Instead, offer them your advice, and encourage them to come in for one reason – to see if you can help them. Here’s the dialogue:

“Mary, I understand that you’ve had insurance for several years. I don’t even know if I can help you, so I’d like to invite you into my office so I can evaluate your insurance policy coverages, learn a little bit more about your risk tolerance and then I can determine whether I can help you. There’s no charge for this, but if I can help you, I’ll tell you what I can do, and if I can’t, I’ll tell you what you should do.”

They will most likely take advantage of this opportunity because there is no obligation and it costs them nothing. Then you have a chance to really show them your expertise, share your knowledge and experience and explain what you can or cannot do for them. This also stimulates fantastic word of mouth.

Utilize this “let me see if I can help you” offer and watch how much easier it is to get people to walk in your door.

To Your Success,

 

 

Capital Needed to Replace Earning Power

Of all the assets we own, our earning power -- our ability to earn an income -- is the most valuable!

How much capital would it take to replace your annual earning power?

This is the amount of capital required to provide that monthly income, assuming your capital earns an annual interest rate of:

For each year that you need this much monthly income:	4%	6%	8%	10%
$2,000	$600,000	$400,000	$300,000	$240,000
$4,000	1,200,000	800,000	600,000	480,000
$6,000	1,800,000	1,200,000	900,000	720,000
$8,000	2,400,000	1,600,000	1,200,000	960,000
$10,000	3,000,000	2,000,000	1,500,000	1,200,000

For example, $1.2 million of capital earning 6% annually will produce $72,000 of income, or enough to replace the income of someone earning $6,000 per month.

This example is based on the capital retention method, which uses interest return only to provide income. Principal is not liquidated and remains available.

This is a hypothetical illustration only and is not indicative of any particular investment or investment performance. It does not reflect the fees and expenses associated with any particular investment, which would reduce the performance shown in this hypothetical illustration if they were included. In addition, rates of return will vary over time, particularly for long-term investments.

Will you have sufficient capital available to replace your earning power in the event of death, disability or retirement?

Looking for a NO-COST Social Security Analyzer?

Many of you have asked for “such an animal” There are a number out there. Here are two that are free. One from AARP and one is from the Official Social Security Website.

You can use these links; we will continue to research and give additional options... both ones that cost and ones that are free.

The Official Social Security Website's Analyzer:
Click here for their calculator

AARP's Analyzer:
Click here for their calculator