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Redbird’s best agents are engaged in their local community, whether through their church, kids or business groups. They enjoy the interaction but they also see the business value in these connections. Ray Smith is a creative guy always looking for an opportunity to generate a lead… even at the local Apple Festival. He has some sage advice for those wanting to jump into networking.
Ray Smith tells a funny story about an encounter at a networking event.
“I met a lady at a networking event. She was over by herself so I introduced myself. She asked what I did and I said I was one of those “insurance guys.” She was new to the area so I asked her if she had purchased a home. No, she said, she had a condo. Then she asked me what kind of insurance I sold.”
You know what’s coming… Ray said: “Condo insurance.”
Being a comedian in insurance is a slippery slope but it worked out well for Ray that time. He ended up selling her condo and car insurance.
“BNI is unequivocally the best return on investment you can possibly get. I would take it over the Chamber, over any of them.”
-Ray Smith, Redbird Regional Manager, Cape Coral, FL
Ray Smith is a master networker. He’s a natural, whether in front of your grandmother or your local Chamber of Commerce. But, Ray’s success in networking is less about his sense of humor and more about his approach.
“Networking is a different mindset,” Ray says. “When you’re networking you’re really not trying to sell. The mindset is totally opposite of knocking on somebody’s door.
“I see it all the time at networking meetings. People are running around saying ‘here’s my card, here’s my card’ and ‘give me a call, give me a call.’ Most people don’t want that. They want to get to know you.
“Networking to me is not as much about selling your product as it is selling yourself.”
Business networking groups typically have a broad range of members, typically smaller businesses. For example, take the networking group BNI: Business Networking International. BNI allows only one of each type of business in its group, but because of that exclusivity you will find an amazing breadth of professionals, from landscaping to massage therapy.
“I am a firm believer in BNI,” Smith said. “I’ve probably written business that has generated $9,500 in commission this year just from contacts and referrals in BNI. That’s not bad for meeting once a week and paying for your own breakfast. This year it will be about a $1,200 investment to get $9,500 or more… that isn’t a bad return.”
Smith is expanding his business to include voluntary benefits, which are all the ancillary products surrounding medical coverage like disability and cancer coverage. He sees that as an opportunity to fill a niche at BNI.
“There’s always a financial advisor and a P&C (property and casualty) agent in BNI. However, there probably isn’t someone doing employee benefits. In Southwest Florida there are probably only one or two BNI groups have that specific area. Employee benefits could be good way to get in to BNI.
“BNI is unequivocally the best return on investment you can possibly get. I would take it over the Chamber, over any of them.”
A barrier for many agents is the fear of walking into a room where you don’t know a soul.
“You need to have your 30-second elevator speech down pat,” Ray said. “I say something to the effect of ‘we sell all types of insurance but our focus is on ancillary products like disability, accident or cancer.’ Telling them that distinguishes me from any other type of insurance agent they’ve talked with.”
After that it’s a commitment to not leave until you have appointments.
“You’re looking for three or four people, not 100,” Ray says. “If you can get those three or four to have coffee with you over the next two weeks you’re going to close one or two of them or, even better, you’re going to get a chance at their groups. I’m working with the owner of a landscaping business now and I know I’m going to get a chance at his employee benefits once busy season is over.
“I’m looking for the self-employed people. Self-employed are good prospects for disability. Disability is one of the last things people want to talk about, so that alone makes me distinctive when I’m in a networking group.”
Bottom line: Ray goes in with a positive attitude and a plan wherever he is, even at a local apple festival when he started working the booths to find out who were small business owners.
“Everybody you meet is a potential client. It’s just what you do with them.”
Product of the week: Mutual of Omaha Living Promise
Mutual of Omaha is a household name which carries a lot of weight as we continue to see new companies hit the market. The Living Promise whole life policy shares many of the same features of other traditional final expense products. What sets it apart is the ability to access 100% of the death benefit if the client becomes confined to a nursing home. The enhanced LTC benefit is a great alternative for those who cannot afford traditional LTC insurance. Many people are seeing the benefit of switching to living benefit life insurance products. This is a game changer for those seniors living on a fixed income who do not have the ability to afford LTC insurance.
Call 866-547-8780 and talk to Drew Gurley, ext. 102.
Benefits:
- No medical exam
- No POS phone interview
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- No cost Nursing Home Rider
- No cost Terminal Illness Rider
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- Easy application kit
Redbird Chirps
- Social media marketing: Building a quality audience for your business on Facebook. The vast majority of insurance agents don’t utilize social media to build a following and awareness of their businesses. Just using the basic capabilities Facebook offers can give you another channel to market and a leg up on your less technically capable competitors. Read more.
- Annuities: 7 retirement and annuity facts to know. Nearly have of households in a recent study cited guaranteed monthly income as the primary reason for purchasing an annuity. This article from LifeHealthPro provides a good reminder of the priorities and key messages for annuities. Read more.
- Fact Finder: Remember to do check-ups with clients. We saw a story this week about annual check-ups with customers and realized we don’t emphasize this enough. Our Fact Finder provides an excellent platform to better understand client needs, plans and concerns. Click here to download the Redbird Fact Finder.
