According to the Bureau of Labor statistics, there are over 385,000 insurance sales agents in the US, with a mean average income of just over $ 67K. Of course it's not perfectly linear but if we simply divided the 385,000 by 50 we would have a mean average of 7700 agents per state, but that is not how it works. In some states like Florida, California and Texas there are in excess of 30,000 agents.
As the numbers display there is a myriad of competition in the industry. That is evidenced by a massive amount of white noise. So, what do prospects really hear? Can they patiently through the white noise and find the answers they need?
No and No they can not, and so they take the simplest default position which is tuning out. It is far easier to totally ignore the issues than battle through the white noise and confusion. Sadly, this is our fault. The public needs the financial solutions we provide and it is imperative that we find a way to communicate these issues in order to provide the proper solutions.
We live in the richest nation is the world, many say the wealthiest nation in the history of human civilization. And yet we suffer the highest rate of financial illiteracy in the world. This difficult paradox leads to such results as 95% of all those who reach age 65 and older are either dead, dead broke or financially dependent and worse yet totally financially dependent on the government. Only 5% reach 65 and older in a state of financial independence. We are the gatekeepers who are responsible for helping people attain financial independence. Forget about retirement and all the other catch phrases mired in the white noise. It is and always has been about simply helping people create financial independence, all else is fluff.
How then will you step outside the bloating crowd promoting all the white noise? What makes you different? How evident is that difference and does it connect, inform, resonate and motivate?
I submit to you the most effective and efficient differentiation is the perception of authority. People seek out entities, they trust authority. When I mention authority I'm not discussing some level of bureaucratic power, I'm discussing the sense of thought leadership. You become the recognized authority in your local community. By proper positioning you can then take your essence of authority across the nation.
If this has opened your mind to this strategy look for the next article in this series, when I will layout a strategic plan on how to create a thought leadership branding position.