Transcript Slide Title Goes Here

Building your LTC
Planning Practice
Betty Doll, MBA, CLTC, CSA
Long Term Care Insurance Services
Asheville, NC
www.LTCFinder.com
[email protected]
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Don’t go OUT of business
because no one knew you
were IN business!
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• You may be very good at what
you do.
• You need to be equally good at
marketing what you do.
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Self-Assessment
• Where are you stuck?
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Filling the pipeline?
Following up with leads and prospects?
Getting appointments?
Making the sale?
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The Power of Networking
• Networking WILL get you more leads and
prospects but you still need to follow-up,
make the appointment, make the sale.
• Are you following up on the leads and
prospects that you have?
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YOU HAVE TO BE OUT
THERE--consistently!
• It’s not about who you know, but about who
knows YOU
• Setting networking goals is as important as
setting sales and revenue goals
• Networking is a process—it is not an event!
• 7-9 “touches”
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Sample networking goals
• A mailing to at least 4 Centers of Influence each
week
• Lunch with one COI each week
• Call two prospects each week who have dropped
from the pipeline
• Contact one association about speaking each week
• Show up at a high visibility event 1/wk.
• Give a referral 2x/month
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Measure and Record your Efforts
• Document your contacts—did you meet
your marketing goals?
• Record one thing learned every day
• Activity breeds activity—inactivity breeds
inactivity
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Who can I meet today who will
make a difference in my success?
Who do I want to meet? How can I
progress toward that goal?
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Who do I want to meet?
o Perfect Client
• Perfect Referral Source
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Perfect Client Descriptors
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Individuals
Couples
Women
Business Owners
Age range
Income
Asset base
Educational level
Geographic region
Occupation
Retirees
Gay/lesbian market
• Interests and activities
• Have experienced an LTC
situation
• Satisfying to work with
• People you already have
natural contacts with
• Willing to pay premiums
• Low maintenance
• ????
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Where are your perfect clients?
Who else is seeing them?
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Attorneys
CPA’s
Financial Advisors
Health Insurance Agents
– MedSupp and Medicare D
• Life Insurance Agents
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Getting in front of the Professionals:
• Ask each client who they work with as a
financial advisor, tax advisor, attorney
• Ask permission to call them and to send
LTC recommendations or policy info
• “We have a mutual client” will get you in
the door!
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Networking with Professionals
• Be professional! Let them know that you are an
LTC planner—not just pushing a product
• Don’t always be looking to make the sale
• What can you offer them? How can you serve
their clients?
• Don’t promise reciprocal relationships if you can’t
follow through
• Show an interest in their business and business
concerns
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Professional Organizations
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Don’t just join—show up!
Attend their meetings
Arrive early, stay late
Have a goal—e.g. “meet five new people”.
Follow up with them within four days
• Volunteer at functions—especially at registration
• Read their journals—send copies of relevant
articles to them
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Make it easy to refer to you
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Set up a referral process
Keep them supplied with business cards
Keep your name in front of them
Try to keep the ball in your court-get permission
to call the client rather than waiting for the client
to call you
• Ask them to call to set appt. while client is in their
office
• You must earn their trust—invite them to sit in on
appointment
• Keep them informed
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Professional Organizations:
• NAIFA—National Association of Insurance
and Financial Advisors
• NAHU—National Association of Health
Underwriters
• Referral sources vs. Competitors
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• National Association of Professional
Financial Advisors (fee-only planners)
– www.napfa.org
• Local CPA groups
SHOW UP, BE A MEMBER, BE
INVOLVED
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Offer Continuing Education
classes!
Sets you apart as being a knowledgeable
resource.
CLTC’s have access to resources for
classes
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Community Involvement
• Be of service
• Meet potential clients and potential referral
sources
• Make it something you can truly support
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Community Organizations
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Alzheimer’s Association
Parkinson Association
MS, ALS, etc. all have associations
Council on Aging, Literacy Council, Boy
Scouts, etc.
• They all need Board Members, volunteers,
fundraisers—you’ll meet other
professionals this way
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Let people know what you do-• Elevator speech
• Don’t be pushy
• Planting a seed—needs nurturing—too
much fertilizer kills it!
• You are offering a solution that is needed
by 30-50% of the general population!
• Be proud of what you do and how you help
others
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What are you passionate about? How
can you use it to network?
• Sporting events
– Invite 2 ideal clients to bring two of their friends
• Shopping
– Have information on LTC planning at Senior Day at the
mall
• Golf
– Participate in charitable tournaments
– Sponsor a hole—take photos to give to participants.
Fun!
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Continue Networking with (and
through) Your Clients
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Lunches
Teas
LTC Q & A over coffee or drinks
Customer Appreciation Events
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City Tour
Theatre Evening
Wine tasting
Open House
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Teaching Classes
• Continuing Education for professionals
• Community Ed classes through community
college
• Seminars for clients of financial advisors
• Co-sponsor/co-present
• Must be planning oriented—not sales
oriented!
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Building Credibility and
Visibility
• Public Speaking
– Planning oriented—use 3 Step Process
– Impact of caregiving on family
• Writing articles
– Local newspaper
– Special publications
These activities may not generate immediate referrals
but they’ll eventually trickle in if you keep yourself
visible.
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Promotional Events and Advertising
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Most expensive and least effective
Do give more visibility
Indirectly may give more credibility
Must be very targeted to have any effect
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Why don’t people use networking to
promote themselves?
• Hate rejection
• Feel they’ll be intrusive
• Are turned off by ego-driven self-promoters
Remember that no one else will ever be as
passionate about your business as you are
therefore YOU must promote it.
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Position yourself as a problemsolver, NOT a salesperson
• Communicate the value you bring to your
clients
• Communicate the value you bring to other
professionals
– Helping them meet the needs of their clients
• If you’re passionate and believe in what you
do, it will be easier to self-promote
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Effective Self-Promotion
• Think of service to others first
• It’s your duty to get people planning for
LTC—missed planning opportunities for
others has far more impact on them that on
you
• Stay in touch on a regular basis
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Build on Your Successes
• Have a goal of generating two additional
marketing activities from each activity
completed:
– E.g. If you present at Rotary, offer to speak at
other clubs
– Use copies of any articles published to mail to
COI’s
– Press releases about you (e.g. completing your
CLTC) should be sent to COI’s, prospects
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Have a Referral Mindset
• Use the word “referral” rather than “client”
or “prospect”
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Remember
• Effective networking is a process, not an event
• Read your local newspaper—know what’s
happening in your community and be a part of it
• Politicians still “press the flesh”, you must too
• It’s not “all about you”
• Don’t be a “drive-by networker”
• Let them know you’re still in business
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Attitude and Activity go hand
in hand. . .with high activity,
you never need to worry about
your attitude.
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Betty Doll, MBA, CLTC, CSA
Long Term Care Insurance Services
One Oak Plaza, Suite 305
Asheville, NC 28801
www.LTCFinder.com
[email protected]
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