As a small boy my mother would often ask why I did something. Of course the answer was because my friends had done it. Her answer was always “if they jumped off the roof would you”? Now if we ask ourselves the same question about our marketing plan, does it deserve the same answer? I am doing what the home office says to do so does that mean I am jumping off their roof?
Marketing for annuity leads can be very tricky . Tricky in the sense that not knowing what is the best use of my marketing budget. If the home office says to run an ad in the newspaper, does that really work for me?
I have found that using more than one approach makes the best sense for my business. I use direct mail, the internet, seminars and radio as a multi-pronged approach makes far better sense. If you would like to know a secret about annuity lead marketing then listen closely …. you are on your own!
Keeping good records as to lead cost is essential. It may cost you $ 200 per appointment for a seminar lead but possibly the cost of lead per sale is only $ 600 to $ 800. Now compare it to mailing $ 800 worth of direct mail pieces, how many sales does that $ 800 marketing expense?
There is something about safety in numbers that we are seem to gravitate to. If one agent markets in one method then we all should market that way. Fear of the unknown and fear of not generating enough leads becomes a major concern. Copying another agents marketing plan or method without absolutely defending your own target market makes managing a marketing budget almost impossible.
Set your target market, be diverse in your lead generation options and keep records.