Selling To Seniors: Gauranteed Methods To Increase Your Annuity Production

You've heard it many of times. You have seen countless commercials advertising to them. You may have even seen the staggering statistics. They own over 70% of the wealth in America. Look Out. It’s a bird.... It’s a plane..... No. It’s those SENIORS. Companies all across the country have launched their campaigns, spent millions of dollars, but can’t seem to gain this wealthy market. They just simply scratch the surface. Are Seniors not purchasing Indexed Annuites? Is this market fading out? Why are most of the conventional methods of marketing simply not working? I will be more than happy to answer these questions. YES, seniors are STILL purchasing Indexed Annuites. NO, the senior market is growing at an alarming rate. No my answer to the last question is going to take a little more explaining but here is my response. Conventional methods don’t work because you CANNOT market a Product to Seniors, you have to market the BENEFIT and become a PROBLEM SOLVER. Here is what I mean.

If your providing Indexed Annuities, or any financial service to the senior market. There is one simple formula involved. If you do not address the needs and common concerns of seniors, you WILL NOT make the sale. I don’t care how much money you’ve spent on sales software, your fancy presentations and your cliché sales scripts. Seniors react to PROBLEM SOLVING. Too many agents and companies focus on their hot new product. It has all the bells and whistles. It also may be very good for seniors to have but there’s one major problem. You can have the best new indexed annuity in the world, but if you don’t uncover the need of your prospect it’s pointless. You MUST reveal their HOT BUTTON. Every individual is different. Asking the right questions is an important phase of getting closer to the sale. For example, you may want to ask them a question such as what is your biggest concern facing retirement? Allow them to communicate with you. Alot of sales are lost because the agent does not take the time to actually listening. It is important to become a good listener.

Having great products, presentations, and software goes without saying. However, you have to show Seniors that you actually care about them. They are buying YOU, not your company, your product or your hour long sales pitch. Take an interest to them. Listen to their story and where they come from. You learn more about how you can help them just by using your ears. LISTEN! The worst thing you can do is be a salesman. A salesman sells products to a consumer. For Example, let’s analyze the role and characteristics of a doctor. A doctor sits with his patient. He asks them a series of questions. The patient replies with all of the symptoms they are having. Obviously at this point, the patient is unhappy and wants a solution to the problem. The doctor sits and writes as the patient speaks. After the doctor is finished taking notes, he has a precise idea of how to handle his patient's problem. The Diagnosis is made, the medicine is prescribed and the problem is SOLVED.

In the senior market you are a money doctor. You sit with your prospect. You ask questions and your prospect begins to reveal concerns, aspirations and gives you a road map to becoming a problem solver. After you have gathered all your information, you have a diagnosis. Problems have been exposed and you know just how to help your prospect. If you apply this mentality, you will dramatically increase your production.

Your mindset can be the difference in being an average producer, to having a million dollar annuity practice. Try thinking like a doctor for 30 days. When you sit down with your prospects. When you call them or they contact you. You will definitely be surprised at how this way of thinking can change your practice. Remember my fellow agents; Seniors are human beings so have compassion, respect, and don’t forget to always LISTEN!!!

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