“Life Insurance Leads Isn’t Everything –
There’s Also Diamonds"
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Dear Insurance
Professional,
There are only three places
on this planet where you can find naturally occurring diamonds. Those three
places include Kimberly, South Africa, the Yakutsk area of Siberia, Russia, and
a 20 acre crater in Murfreesboro, Arkansas.
The two largest of these
sites, the ones in South Africa and Russia, are pretty much controlled by the DE
Beers Diamond Cartel, and trespassers or uninvited guests to the mining area are
met with a “shoot first, ask questions later” policy. This is done to
discourage unsanctioned mining. (And the policy is quite effective.)
The only remaining diamond
mining area, the one called Crater of Diamonds in Murfreesboro, Arkansas, is a
state park, and tourists are actually encouraged to come and search the mines
for diamonds (after paying a $10 admission fee).
Murfreesboro is about an
hour drive from my marketing friend, Bill Myers. Bill talks about going to this
park twice to try his luck. He didn’t find a diamond either visit (he only
stayed about an hour), but in both cases he saw other people who found
diamonds. And that wasn’t too unusual, because according to records kept at the
mine…
More Than 70,000 Diamonds Have Been
Found By Visitors Since 1906.
Now, it is true that most
of the diamonds are rather small, ranging in size from 1/8 to 2 carats. But
Bill said bigger diamonds have been found, even one the size of a golf ball, of
over 40 carats! Yet, even with unlimited access to the mine (for the $10 daily
fee), most visitors don’t find diamonds. The reason is They Don’t Know What
They Are Looking For! See, most visitors look for the kind of diamonds they
see in jewelry stores: brilliantly sparkling, multi-faceted, cut gemstones. And
the truth is, you won’t find this kind of diamond at the mine in Murfreesboro.
Nor will you find such stones at the diamond mines in South Africa or Russia.
That’s because raw diamonds don’t look like the kind of diamonds you see in
jewelry stores. Raw diamonds are usually oily, dull looking stones of no
particular interest. And if you saw one and didn’t know what it was you
probably wouldn’t bother picking it up.
That is what happens at the
Murfreesboro mine. Tourists are free to pick up and keep all the diamonds they
can find. However, since most are looking for the jewelry store diamond, most
leave empty-handed. There are a lot of diamonds, almost everywhere you look.
And people who know what to look for… Usually Find Diamonds!
In fact, many of the area’s residents, especially the
farmers who work the nearby fields, have pouches full of diamonds they’ve
found. It is not unusual to find a local mechanic or gas station attendant who
has a pocket full of diamonds he’s picked up over the years. The secret is
simple knowing what to look for.
Look Internally First
If you ask a group of
insurance agents to list their most important assets, they might write down
their car, office, insurance company, and computer. Many agents would never get
around to listing their clients! And yet, that IS their most
important asset.
For example, I could
literally close my office today, turn off my phones, and the lights…and if I had
my list of clients, I would be back in business tomorrow!
I need to tell you right
now that there is something else even more important here.
Let me ask you a question:
How much do you think your current client base is “worth” to you? If I offered
to buy your client base, what would be your asking price?
If you said, “Oh maybe
$150,000” you may be getting the message of how important your client base can
be to you in regards to marketing our alternative product to this list of
people.
Let’s dig deeper into your
list. Do you reap the riches this client base actually contains? Do you
constantly communicate with your client via letters, postcards, bulletins and
quarterly newsletters? Do you offer them other products or services that relate
to your insurance business? In other words, do you MAXIMIZE THE LIFETIME
VALUE OF YOUR CLIENTS? Check out are
I know one agent who focused on the 25 to 35 clients he
had sold annuities to in the past. He went back to see all of them and offered
one of our alternative products that paid 10.75% annual yield versus their
annuity that only paid 5% in the second year. The end result, he wrote more
than $1,000,000 in new business and increased his income last year by $140,000 -
not bad for a few months work. You see, he already had the clients and they
trusted his judgment. When he offered them a product they wanted, it was just
a matter of filling out the application and rolling the money over. This agent
did no external marketing. It was what I call reworking his client base as
“internal marketing.”
I know another agent who
had just one client who had $400,000 in CDs with him and also $150,000 in
annuity business. This agent showed his one client our product that pays 14%
annual yield and she couldn’t get to the bank and insurance company fast enough
to roll the total amount into this product. Net result from this “internal
marketing” was $38,500 in commissions on one client alone. Unfortunately, I
believe this agent only had one good client.
I recently read Russell
Conwell’s classic book, “Acres of Diamonds” again. He talks about how people
always see the grass as greener in someone else’s pasture.
You must understand this:
MANY AGENTS SPEND THOUSANDS OF DOLLARS IN
ADVERTISING, MARKETING, GOODWILL, REPORTS AND TIME WITH PAST CLIENTS! YOU NEED
TO REWORK INTERNAL
CLIENTS EXHAUSTIBLY, REPEATEDLY, AND RELENTLESSLY…
BEFORE YOU SPEND ANOTHER DIME ON MARKETING TO THE ‘EXTERNAL’ WORLD TO FIND NEW
CLIENTS!
Do you realize that YOU have your own “acre of diamonds”
sitting in your insurance business? Have you really harvested the client base
you presently have?
The first major marketing
task is to rework your old list of clients even if you haven’t contacted them in
years. If you don’t have a client base, you can find another agent who has a
large client base and pay him a fee for every financial product you sell.
In the next few marketing
secrets, I’ll reveal how you can systematically reap the bounty from your
existing clients so you are maximizing your marketing dollars.
Spending marketing dollars
on past clients is eight times more cost effective than going out into the cold,
difficult mass marketplace where you’re competing with everyone else for
prospect’s attention.
I’ll show you in the
following pages how to increase your income by 10%, 25%, 50% or more in the next
few months just by systematically reworking your existing clients.
To better understand the
process of obtaining new clients, let’s take a look at how much it really costs
you to obtain new clients.
You probably spent hundreds
of dollars in marketing to find that client. You probably spent hours and
energy building rapport and goodwill with that client. You also have overhead
costs of running your business whether or not they ever come back!
In reality, you may have
really spent $100 or even $500 in real cost to acquire each new client! That’s
a lot of money! And yet, you only treat them on a one time basis. You don’t
constantly communicate with them. You fail to get them scheduled to show them
additional products. You fail to check on them. You fail to see if they have
friends or family that need your help, etc. Remember, this only costs you a
stamp or phone call to rework an existing client.
Now that’s efficient and
effective marketing!
Let’s move now to our next
technique, where I’ll give you a specific, detailed step by step system to begin
harvesting the wealth that is sitting idle in your own backyard!
Start Digging For Those Diamonds
The first step is to compile your “Master List.” You
will use this over and over again. Please don’t pass over this important step.
Everything we do in internal marketing centers on this master list of your
existing clients.
Make a list of every one of
your clients. Check their address to see if it is current. You can do this by
mailing out one of our sample postcards with an Address Change Requested. The
only names you may want to delete are those who have moved out of the area.
When you’re finished, you will have a complete list of all of your clients.
This now becomes your “Master List.”
If you own a computer, I
suggest you put this list in your computer so you can print out labels for
postcards and personalized letters to each client.
This will become vitally
important once I teach you about our external marketing campaign.
What we are beginning to
create is a marketing system. Imagine it as giant pillars that are holding up
your marketing campaign.
The internal marketing
system is just one pillar. As we go through this course I’ll give you a number
of other pillars that will build your business. Many agents have just one
marketing pillar and if something goes wrong, they’re dead. I hope you’re
starting to see the big picture that I plan on painting for you.
We need to harvest the
bounty that is laying idle in your internal marketing before we can make our
external marketing work its wallet fattening magic for us!
Your master list is step
one to waging our internal marketing campaign!
How To Turn Lost Clients Into A Pot Of Gold!
I know one insurance agent who made an extra $14,000 in
commissions in just one week by using this strategy. If you’re short on cash,
or even if you’re not, this is one of the first things you should do in your
pursuit of increasing your income by 50 percent.
What we’re going to do is
take all of our old clients and use the following direct mail letter to get them
to call you immediately.
Here’s the marketing
strategy we’re going to use.
You’re going to send EVERY
person on your list a powerful letter, called the “OOPS WE GOOFED” letter. You
will really be making an emotional impact with this letter on hundreds of
clients you haven’t seen for a while.
Most of the marketing
techniques you will learn from our company are direct response techniques for
marketing.
Direct response marketing
is the most immediate, results-producing form of marketing you can use. It is a
direct letter, ad or phone call that gets the reader to pick up the phone and
take action.
Direct response marketing
is about producing immediate and measurable results. The following letter is
designed to get immediate results.
You’re going to mail every
person on your list a letter. Make sure you leave a lot of white space to make
it easy to read. This letter is written with short paragraphs, and it’s written
in a very personalized style.
Here’s the sample letter:
Oops, I Think We Goofed!
Dear Client,
I’m very troubled, Mr.
Smith. You were a valued client of mine and I haven’t heard from you for many
months. I truly would like to know the reason why. Either I offended you, or
maybe you were dissatisfied with the work I did. Or maybe you are in a
financial product that pays 12% APR.
In short, there must be
some problem, and I’m very concerned.
The first thing I want you
to know is that if I have in any way offended you or dissatisfied you, I would
like to make it right.
If that means I have to
give you financial advice for free, or whatever it takes for me to regain your
trust, I’m willing. And if you don’t have the money to look at some of our new
financial products, that’s okay too. I want you to know that I want to be of
service to you. Why do I do that?
Please understand, getting
paid is not as important to me at this moment as taking care of your financial
needs immediately.
I guess I’m just writing
to tell you that I value you, and I want to offer my services to you FREE.
Here’s what I want you to
do. First of all, I want you to call my office and talk to Kathy when you get
this letter. My number is (000) 000-0000. I want you to schedule an
appointment to come in immediately! I’m very concerned about you, and
don’t want you to put this off. I will make sure she gets you into my schedule
so we can show you some of our new exciting products, especially the one that
pays you 16% APR. But you need to call me right away to get the special
information I have for you.
I look forward to seeing
you very soon – and I’m glad to have you back! Your financial future looks a
whole lot brighter.
Sincerely,
The Secret Multipliers
These multipliers are
virtually unheard of or unused outside of very small marketing circles. It
turns out that the multipliers have been used for years, but for some reason are
virtually unheard of by most insurance agents. While I didn’t invent the
multipliers, you will be able to create almost any level of growth you desire in
your business once you fully understand them.
If you are having financial
problems, using this formula is the quickest, easiest, safest way I know to
boost your income by more than 50%, or even over 100%, almost overnight.
It’s hard to believe,
judging by the mind-numbing number of complicated business theories out there.
But when you get right down to it, there are three ways – and only three ways –
to build your business. You can:
·
GET MORE CUSTOMERS (INCREASE
YOUR CUSTOMER BASE)
·
GET MORE ORDERS FROM EACH
CUSTOMER (INCREASE YOUR CUSTOMER BUYING FREQUENCY)
·
GET BIGGER ORDERS FROM EACH
CUSTOMER (INCREASE YOUR CUSTOMER’S AVERAGE REVENUE)
Most insurance agents
spend the vast majority of their time, energy, and money on ineffective
advertising to try to increase just the first category – “Get more customers.”
Am I right?
Most insurance agents spend
a small fortune to try to get a single new client. Then they move on.
That’s the most
inefficient, wasteful thing you can do!
Now let’s consider what
would happen if you spent equal amounts of time, money, and energy not on
getting more clients, but focusing on increasing the dollar amount they spent
every time they bought a new product from you.
I’ll tell you what would
happen: Your business and income would take quantum leaps in profits
Allow me to demonstrate…
How To Make 3 Small
Improvements That Will More Than Double Your Income!
Let’s suppose you normally
write 100 new life policies per year with an average life premium of $1,000 per
case. Also let’s suppose you have 500 clients on the books. Now, using the
multiplier system, you increase the following by 25%: the number of new clients
you write, sales from existing clients, and your premiums. I know these may not
be your numbers, but let’s use this example to illustrate the math.
Using the Secret
Multipliers Formula, let’s calculate how much more business you would write
before this 25% increase.
Secret Multipliers Formula
Get More Clients X
Get More Sales/Current clients X Get Bigger Premiums = Your
Total Premium.
Now, let’s see what we can
do with some of our marketing techniques and secrets. Agents’ income has often
doubled, tripled or quadrupled when they apply the secrets found in our
marketing course.
Suppose you start using
some of our powerful marketing secrets that gets results, and let’s say they
only bring you a 25% improvement in the number of new clients over the course of
a year. That means instead of having 100 new clients per year, you now have
125. I really believe that is very conservative and can easily be reached over
the course of a year.
Let’s go to the second part
of our formula, and let’s say you use just one of the secrets I’ll teach to
increase sales per existing clients. Again, let’s be conservative and say
we only increase that by 25% over the course of a year. If you have 500 clients
and you sell 25% of them a new product, you now have another 125 policies. I’m
sure many of them would be prospects for an alternative investment product.
Finally, using one of the
many secrets I teach to increase average size premium, you get them to
spend 25% more. Instead of $1,000 annual premium you sell $1,250. (This is
very realistic-- one secret here is to round up your premium. For example, if it
is $1,350 you automatically quote $1,500). Remember, you can always go down on
your premium if the client can’t afford it.
Now, you’ve made three, 25%
improvements, in each of the three categories of the Secret Multiplier
Formula. How much has your business grown? Would you expect a 25% increase
in revenues? Or have you grown by 99%? Which one would you choose?
None of the above are
correct! Your premiums have gone
from $100,000 to more than $312,500. In this example you would have more than
doubled your revenues. In fact, you would have realized a 212% increase from
making these three changes.
Do you realize you have
more than DOUBLED your revenues? And you haven’t done anything really dramatic,
unusual or unique to accomplish this increase. You’re just using the secrets
and techniques you’ve learned in our material.
Here’s how you’ve grown
so much using the Secret Multiplier Formula:
Get More Clients X
Get More Sales/Current Clients X Get Bigger Premiums = Your
Total Premium
125 500 X 25% = 125
$1,250 $312,500
Clients
Policies/Clients/Year Premium Amounts Total
Premium
Now, here’s the most
interesting part. After you have read and studied our marketing course, it’s
far more likely that you’ll at least double each of these multipliers. In any
case, do you have any idea how large your business would be? In fact, your
premiums would shoot up to $800,000 per year, a 700% increase!
That’s how you can double,
triple or even quadruple your income in the first 12 months of using our
marketing techniques.
I hope you’ll study this
formula again and again, because as you study our marketing course you will find
dozens of ways to increase your business exponentially. Once you understand
these three multipliers, you can focus your attention as intense as a laser beam
to start increasing your income to unbelievable new levels.