The Hot Lead Fallacy

There’s a huge fallacy that creates much of the frustration and shattered expectations of advisors in this industry.

That fallacy is that there is — ’somewhere out there’ — a group of highly qualified people hiding in some cramped corner of the universe who are ready and wanting to buy what you sell. And all you have to do is “get in front of them” and you’ll close deals easier than selling water to parched desert travelers.

The truth is that no such ‘group of golden prospects’ exists.

The problem lies in people pitching pipe dreams of ‘hot qualified leads’ begging you to sell them something.

Now I’m not saying that you can’t get people to come to you, who are exclusive, and who are better prospects than the jokers who go online and fill out 13 quotes and have their information sold to 79 different agents.

If that’s the type of lead you are working…THAT IS miserable. Of course it may not be as bad as having no leads at all, but just barely.

But what I am saying is that usually there is a PROCESS required to take someone from merrily enjoying their day, to getting interrupted by you, to reading your message, to realizing they might possibly be interested, to wanting what you sell, to trusting you, and ultimately realizing that they need your product worse than they need their own money.

Does that sound like something that happens within 30 seconds of receiving a postcard in the mail, or seeing an ad in a magazine?

Nope.

In some cases you’ll use the internet to capture people who’ve already gone through maybe 30-50% of that process, but usually they don’t have their credit card on the desk anxiously waiting to buy insurance, it just doesn’t happen that way.

So how do you get someone to the point where they ARE ready and willing to buy?

Here’s a sales formula that we’ve followed for years that has proven effective over and over again. This is how you turn a perfectly happy person and make them understand they have a HUGE problem staring them in the face, and then help them come to the conclusion that they need to resolve it.

Capture attention
Develop problem
Aggravate the problem
Promise to resolve it
Establish Credibility
Show Features and Benefits
Make an Offer
Call to action
Guarantee
Call to action

Now let me explain the way we’re using this formula to make some realize they need a whole life insurance policy or other product where just minutes before it had never even crossed their minds.

It all starts with getting attention with an interesting concept.

I’m amazed at how uncreative this industry is when it comes to solving financial problems for consumers.

Everyone is out there pushing products, talking about annuities, whole life, IUL, LTC, etc, etc.

NEWS FLASH to the Insurance Industry…NO ONE wants to buy a product, (ESPECIALLY insurance products) they want to buy the BENEFIT IN THEIR LIVES.

To be really effective in marketing remember this axiom, I promise it will serve you well “CONCEPT OVER COPY”.

The concept of your marketing campaign, ad, postcard, business, website, Google campaign, etc…is more important than the effective copywriting/marketing that you may try to employ trying to convince people to come to you.

Let me give you a sneak peek into one of our lead generation concepts that we’re using.

One of the products we focus on is whole life. We believe in the product, we know it’s good for the client in most cases, and solves a huge problem for people who are right now suffering with stock market losses, taxes, etc.

Problem is, no one is pounding down our front door trying to buy it “whole life insurance” from anyone.

But people are frustrated with increasing taxes, savings lost in the market, not having enough savings and they are in financial pain.

So the first thing we do is get attention with an interesting/painful topic.

“Is your 401k going to be taxed at 80%? The 3 - 401k lies they never told you.”

“Americans pay up to 35% of their after tax income and 2.9 Billion dollars per DAY in interest to banks and credit card companies! Here’s how to pay yourself interest instead!”

Once we’ve got their attention, we get them to hit our website. Then we develop and agitate the pain by educating them on why their 401k is getting eaten up by taxes, fees, and market losses.

We confirm their suspicions about the fact that they aren’t really making any money in the market, and in fact are putting all of their money at risk.

We show proof of the claims we’re making with statistics from credible sources, and paint the picture for them resonating with their frustration about money.

From there we establish our credibility by putting in our personal story about finding the truth through all the fog. We answer questions about why they haven’t heard about these deep dark secrets before.

We resonate again with their current suspicions about the banks and government making millions and billions on their money, while they can’t access it and are paying fees for the pleasure.

Then we promise to solve this problem forever through a tool that is little known but very powerful and accomplishes the following:

Secure their money so it’s never lost in the market
Tax free growth
Pull out growth tax free
Have access to your money at all times
Borrow money yet still allow it to grow
Save money on interest payments by borrowing from their policy rather than a bank.
ETC.

This process goes on following the process I laid out above.

We are doing this through a series of different tools. Starting with getting them to opt in for an online video, or free report, or quiz.

We know not everyone is going to watch every piece of content we put out. So we have to hit them with multiple modalities.

From there we run webinars that cover the topic in 50-60 minutes and allow people to interact with us and trust us. If you aren’t using these as a tool in your business, I promise you are losing money.

Then we drip on them with emails driving them back to blog posts and short videos on different topics about taxes, myths, and interest savings…always inviting them to schedule a meeting with a certified advisor who can help them with their personal situation.

Add to that a published book that’s coming out in a couple months and TV, radio, newspaper and magazine publicity giving us credibility. You can see how it’s possible to turn someone who’s never previously even thought about buying whole life insurance INTO a qualified, hot buyer.

They didn’t come to us that way, but through a MARKETING PROCESS of education, entertainment, and follow up, you can take someone who’s never dreamed of buying what you sell, and turn them into a client.

FINAL THOUGHTS

It probably sounds like a lot of work. And it is, there’s no question about it. But it’s also leveraging your time and money in a way that you can never do meeting with people one by one.

Not only is it leveraging your time, but it’s setting you up to work with prospects much more qualified and close them much easier.

Hopefully you can clearly see that by developing a system like this you’ll be able to turn cold leads into hot, qualified, exclusive prospects.

If you don’t want to try and be creative and come up with all of these systems on your own, or would like to “Look Over Our Shoulder” as we implement these systems in our agency so you can too…then I suggest you attend our upcoming FREE training webinar:

“How to Leverage FOX News, FORBES, and CNBC to Create Qualified, Exclusive Cash Value Appointments With People Who Contact You!”

Click Here for More Information

Whether you do it yourself, or look over our shoulder and follow what we’re doing the path is obvious, if you want hot leads, you have to be willing to build a system to grow them.

Crops don’t grow out there in the field by themselves, weeds do. They don’t grow by putting seeds in the ground, then asking them to bear fruit today. But if you patiently cultivate as many seeds as possible, and nurture them along properly, you’ll enjoy a great harvest.

Brett