What nonsense, right?
Are You Thinking: Thats Right Brian, But What
Does It Have To Do With Me?
This is what its got to do with you.
We are now in one of the most exciting and difficult economic times in history.
Things change faster than you can think. Every day, new technologies come online, new business methods are being used, new investing methods invented, etc. If you dont stay one step ahead of the curve, your business simply wont survive.
Businesses that sit back and wait for things to happen wont be in business for long. Just take the Internet for example.
Have you ever seriously considered the effect that the Internet can have on your insurance or financial services business?
You should!
Because theres one big, ugly secret that the insurance companies and brokerage firms hope you never discover:
Theyre using the Internet to market to new clients
Without a Sales Force!
Lets face it, most large insurance and financial services hate using sales reps. They cost millions to recruit and train, only a tiny fraction of them actually make any money and the rest leave, lounge around or give the companies a bad name and big legal problems by using illegal or unethical selling methods.
Theres no question that if the companies could get rid of their sales force and market directly to potential clients without the hassle and expense of hiring a sales team, theyd do it in a flash.
You know what? Now they can.
How long do you think it will be before the number of households with a computer matches the number of households with a TV? And how long do you think it will be before many of those households end up buying or at least shopping for most or all of their insurance and investments over the Internet?
Worried? You should be.
And if youre thinking: Thats not going to happen to me, Brian. My clients dont want to talk to a computer; they want to talk to a real human being, someone they trust and know! then think again.
Sure, your clients like you and they trust you. But lets be honest. If your clients could go online, compare the best quotes at dozens of different companies, order across the Web and get helpful service and support from a well-trained customer service rep without having to come to your office or wait for you to come over to them then
Wheres Your Unique Competitive Advantage?
The fact is, youre in the same position now that doctors found themselves in ten to fifteen years ago. Doctors who didnt have the sense to sign up with the HMOs doctors who believed the relationship they had with their patients was enough are either out of practice today or are earning half their previous income.
And its not just the Internet. Under the Glass-Steagall Act, banks can now offer insurance and financial services to your prospective clients. And CPA firms are offering more and more financial planning services in addition to tax planning.
What Effect Do You Think These Changes Will Have On
Most Insurance And Financial Services Businesses?
Let me give you a clue:
Whoever Controls The Money Controls The Relationship!
And who controls most of the money in America? Right, the banks. And now the banks have the legal right to sell insurance and other financial services to their customers.
The worst thing though is that people tend to trust their banks and CPAs more than they trust insurance agents and financial advisors. What can I say? Its sad, but true.
That doesnt mean that your business is doomed, or that youll soon be pushing a broom for a living.
But it does mean that if you want to stay in business, you need to take action right now so that your clients can see that theres a clear difference between you and other insurance agents, financial planners, banks, and CPAs.
Okay, that was the bad news. Heres the good news:
You Could Be Far Better Prepared Than All Of Your Industry Peers!
Why?
Because if you already offer financial services along with college funding services, you already have a great "door opener" in addition to everything else!
Anyone can offer stocks, bonds, mutual funds, life insurance, health insurance, disability insurance and tax preparation. In my personal opinion
They're All Commodities!
Commodities can easily be bought and sold, and by anyone. Even a machine. Thats why its so easy for the banks, insurance companies and brokerage houses to cut out the sales force.
Let me put it this way. If your prospects and clients see you as nothing more than a commodity seller, theyre always going to be looking for a better price. You simply become one quote provider amongst many.
But if your prospects have a relationship with you, if you offer them unique solutions to their biggest financial problems, when they want to purchase other financial products and services, who do you think theyll listen to?
Thats rightYOU!
Thats why using college funding services as a "door opener" is a great way to develop new relationships with prospects and clients.
It's a service that banks simply dont offer. They are too busy trying to sell their clients insurance, investments, and all sorts of other products (like student loans). It does, however, create an opportunity for you to offer your local banks a joint venture. You could provide college funding services as a value-added service to their banking clients, and they would get the student loans when they come in. You could even use college funding services to become their in-house insurance agent or financial advisor
But what about that Internet threat? Dont banks and other companies provide college funding services across the Web?
In a word: No!
Why?
Because the college funding process is so personal. It requires full financial disclosure. You have to understand each familys goals and personal finances. Most importantly, it requires the family to trust and have a solid relationship with a living, breathing human being.
Yes, a family can go online and get a list of scholarships. Maybe they can also find some general application information. They might even be able to electronically file financial aid forms.
But they wont have
The Human Element!
The fact is, most families find the whole process utterly confusing. They want someone to do it for them. No website is going to help them only you can...
If you would like more information on insurance marketing ideas and how to get more leads, sales, and referrals for your business, CLICK HERE to get a copy of our FREE Business Building Report which reveals "How Any Insurance Agent OR Financial Advisor Can Add An Extra $5,000 - $25,000 Per Month To Their Existing Business With No Cold-Call Prospecting!"
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