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Selling Employee Benefits: Two Proven Strategies for Discovering New Business

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All employers need what you sell, but do all prospects already have what you sell? While this is very difficult, it also provides room for opportunity. Let’s see how two different professionals tackle the problem and overcome it.

Strategy 1: Open the door with your financial plan

Once upon a time, I had a buddy who was trained in financial planning. After a while, he decided he would have more career opportunities if he offered a benefits plan instead. he changed jobs. But how was he going to get customers?

He knew that school districts in his state put up their benefit plan needs for competitive bidding each year. he needed to get into running. He decided to use his financial planning background as a door opener. Contacting local school districts, he made the following offer. He provides free and comprehensive financial planning to each senior administrator in the school district. What he wanted in return was notification when the district’s benefits plan was open for competitive bidding. This allowed him to participate in the competition.

Financial planning has been abandoned for years, but it often opens the door for selling the products and services offered by the advisors who prepare the plans. This fellow was preparing financial plans in a fiduciary capacity. Administrators were able to run recommendations at selected locations. Objectivity has value.

School districts may seek competitive bids for many services, but where and how the announcement is made makes a big difference. With advance notice and a professional presentation prepared, he was in a position to be a serious competitor. It worked very well for him and his company.

Strategy 2: Stand out at trade shows

A financial advisor in the Midwest was targeting road builders as a niche market. These are the people who build highways. He belongs to the local chapter of the Association of Road Builders and has decided to attend a state conference with the aim of returning home with new leads and prospects.

He met with the conference organizers and offered to hold a breakout workshop during the conference. Fortunately, the organizers of the conference showed interest and offered practical advice.

“What is your purpose?” The advisor explained that he would like to meet the road builder, exchange business cards, contact him after the meeting, and ask him to be his client.

Conference organizers told him that by holding a workshop seminar, he would get a few road builders to listen to him. “If you really want to meet a road builder and exchange cards, I recommend sponsoring a hotel hospitality suite. Free drinks for all road builders!”

He did as directed and the road builders filled the room. The advisor had a team working in the room with him, meeting the road builders, thanking them for their participation, shaking hands and exchanging cards. Did. Yes, the advisor has successfully built a niche in the road construction industry.

There are many good ideas out there. It may take time and money, but agents and advisors who have invested in both have seen results.

Bryce Sanders President of Perceptive Business Solutions Inc. Offers his HNW client acquisition training for the financial services industry. His book “Captivating the Wealthy Investor” is available on his Amazon.