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NAIFA California (YAT)

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Presented by: NAIFA California (YAT)

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Hosted by: Pinney Insurance

• Phone: (800) 823-4852• Web: www.PinneyInsurance.com• Connect with Pinney:

Pinney Insurance Center, Inc.

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Today’s Panelists

Jeff Rose, CFPGoodFinancialCents.com

Jeff Rose, CFP is a Social Media Superstar and blogging sensation who runs one of the most successful financial blogs (GoodFinancialCents.com) on the internet and has collected millions in AUM, annuities, and life sales using his blog to attract and convert prospects into clients and raving fans.   

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Introducing Jeff Rose

Nic WestTrustedQuote.com

Nic West is a master on the phone and working internet leads for life insurance. Over the past 7  years, he has sold more than 6,000 policies direct to consumer, never meeting one of his clients face-to-face. He has helped 100's of agents learn to do the same. 

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Introducing Nic West

Jeff RootRoot FinancialJeff Root has placed over 2,000 life insurance policies online and over the phone and shows other agents how to do the same. He'll be speaking on a few strategies and technologies that he credits for the explosive growth in his life insurance business over the last year.  

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Introducing Jeff Root

Ryan PinneyPinney InsuranceRyan Pinney is a recognized expert at using technology and the power of the internet and social media to drive business. His firm sold more than 16,000 policies online last year and provided 1,000's of agents with the same tools he used to do it. 

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Introducing Ryan Pinney

Blogging and Traffic

Generation

With Jeff Rose

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Top 20 Blogger – Insurance & Finance Owns www.GoodFinancialCents.comOwns Alliance Wealth Management Recently started LifeInsuranceByJeff.com

CEO and Founderjeff@goodfinancialcents.com

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

About Jeff, CFP

Figuring out what "blogging" is. (It's not Myspace!) Guest posting and researching SEO Joining every single social media channel Networking with other bloggers 

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Blogging 0.0

Growing Email list Hello YouTube Strategic Keywords and implementation

= more traffic Building more backlinks 

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Blogging 1.0

Thought leadership through blog movements (i.e. Life Insurance, Roth IRA and Debt Movements) Building Google Authorship Using "Unfair Advantage" to capitalize on Life Sales System building and lead nurturing campaigns – Thanks Paul!  

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Blogging 2.0

Competing with Internet Leads

With Nic West

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Current YAT/Technology chair for NAIFA Northern CA

Written over 6,000 policies over 7 years

95% of business written was over the phone

Bridged the gap of direct marketing to Indy agents

Work with independent agents to build their internet lead sales

Director of Direct Marketing at TrustedQuote.com

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

About Nic

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

This is not a part time job

• This is a contact sport-more contacts, more sales

• One cannot be afraid of the phone

• This not a fall back job• This is difficult, but can be

very profitable• MUST invest money to

make money

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Why agents fail with leads

No infrastructure

Not enough capital

Don’t give it long enough

Don’t have the necessary computer skills

Don’t have the work ethic

Lack of product knowledge

Typical Agent Process

Lead delivered to

email

Agent gets coffee

Agent looks at email

Agent calls lead

Agent sends lead manual

email

Average time between lead delivery and call= 3 hours

Agent emails lead from @gmail acct.

My Process

Lead Delivered to CRM

CRM Delivers Lead to dialer

Dialer dials lead immediately

CRM sends immediate

introduction email

CRM sends immediate text

message introduction

Avg. time to contact: 30 seconds to 3 minutes

Email/Text sends within 1 minute of lead received

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

My Day

• 15 minutes : Scan emails and write down all voicemails – highlight priority situations. Respond to emergencies only• 3 hours: Calling leads only (no interruptions, do not return calls, send or respond to emails.) Contact all leads before calling policies or application recovery.

• 1 hour: Return calls & respond to emails (these are already customers, new customers can’t wait, existing can)

• 30 minutes: Lunch

• 1 hour: Work on Marketing

• 1 hour: Application Recovery Calls

• 2 hours: 2nd attempt: Call Leads

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Technology Involved

MUST haves:• CRM• Email/website• 800#• Softphone• Call Strategy• Dialer• Application team

CRM “Customer Relationship Management”

• Manage your leads• Sends automated emails• Drip marketing• Triggers action items• Automated follow ups• Tracks all correspondence• Runs your businessA couple examples:

• VAM dB• Radius• SalesForce• SugarCRM• DataRaptor

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

ScriptIntroduction:Hello John, this is Joe from ABC Insurance—how are you doing today? Did I catch you at a bad time?(Value their time by asking the initial question. But trick them into saying “no” to the above question.)

Purpose:Great, the purpose of my call is to make sure we understand the purchase you want to make, to make sure we are quoting you with the appropriate carriers--and to coordinate the rest of the process of applying. (Assuming the sale already…)

 Who We Are: As you may already know, ABC Insurance is a life insurance comparison service, we are not an insurance company and not owned by an insurance company. We gather your information to provide free life insurance quotes with top companies like MetLife, Prudential, Banner Life, SBLI and John Hancock to name a few. This gives us the ability to be unbiased in our offerings to you the consumer.  “First off, were there any questions you had for me?” pause—

(Breaks down any walls)  Establish Need: Was this new policy to replace an existing policy? In addition to? Beneficiary? What made you get online to quote a new policy?---(keep asking questions, establish 5 reasons the client needs life insurance and take notes) (establishing the need will cement the sale) Verification: (mini-closes) To get started, let me verify a few of the basics

• Confirm address—“I assume this is where you want your medical exam?” “Grab your calendar”• Ask for Occupation/Income—“A good rule of thumb is 10x income-but we will get back to that”• DOB— if close to age change— mention speedy underwriting, binding coverage, lower rates

Prescreen: Normal questions; mention medical exam results determine rates—if on Cholesterol meds, tell client that once the exam is done we will have a better bearing on prices—(mini-closes) Quote Presentation: Present your educated option, using a needs analysis—while regurgitating their need back to them. Give a few options and a few companies. Sell on the premise of “Flexibility”—start high and work backwards once approved—free to apply etc.

Assume Sale:Now that we have decided on a preliminary policy—let’s take a look at the calendar— I have ___ available— what time works for you?

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Tricks

• Web conferencing• Change caller ID from time to time to

increase contact• *67 will block your caller id

• Text messaging—several good web based services• Call once, then call immediately after• Have a team behind you that can process the sales

made• This allows you to focus on the next sale

• Always assume the sale• Who steps on a car lot with no intention of

buying a new car?

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Recurring Technology Costs

Tech Monthly Cost

CRM $50

Phone System $40

Website $20

Dialer $150

Total $260 monthly

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Lead Costs and Conversions

Lead Type Cost Conversion

Aged $.35 .045%

Shared $10 4%

Exclusive $20 10%

PPC $60 20%

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Additional Training

Many agents, most health and Medicare specialist, will move from their product to selling life insurance this year due to health reform.

Most will fail because of lack of:Product knowledgeUnderwriting knowledgeKnowledge of carrier niches www.EZLifeTraining.com

Internet Strategies & Technologies

With Jeff Root

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

About Jeff

Background

- Find me at www.selltermlife.com (life insurance sales blog)- I’ve been selling life insurance over the phone since 2007- Over 2,000 policies in force

3 Strategies I Credit For The Fast Growth In My Business

1. Extracting referral sources from internet leads.2. Getting published in niche verticals to generate leads3. Building a segmented database of prospects

Jeff Rootdirect: 949-480-9638email: jeff@rootfin.com

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Extracting Referrals Sources From Internet Leads

Just 1 good referral source can explode your business

- Referral SOURCES, not single referrals.- Listen to why your leads are buying coverage.- Ask about past declines.

Industries Ripe for Referral Extraction- SBA Lenders - P/C agencies- Fee only financial planners - Structured Settlement

Brokers- Divorce attorneys (in certain states) - Estate Planning Attorneys- Equipment financing reps - CPA’s

Important: Secure coverage first, then contact the referral source and “name drop” your client.

Getting Published In Niche Areas To Generate Prospects

With the internet becoming more social, it’s becoming easier to get showcased in small publications.

Recent Example:- Undercurrent.org – 15,000 paid subscribers. - I can directly link $8500 of placed premium from this article since November.- This article is also being shared on scuba diving Forums where I’m getting residual traffic.www.wetalkdiving.com

forums.scubadiving.com

Getting Published In Niche Areas To Generate Prospects

Other Life Insurance Niches:

- Any Health Issues: Diabetes, Crohns Disease, Multiple Sclerosis etc.

- Hazardous Activities: Skydiving, Private Pilots, Active Military etc.

Every Niche has magazines, newsletters and websites.- Write an awesome article (non-salesy and not boring)- Scrape contact information from websites and/orsocial media.- Reach out to the editors or webmasters.

Building A Segmented Database Of Prospects

Your database of prospects is your BIGGEST asset in this business.

My most profitable change this year? Segmenting my database.

Case Study: GUL campaign in response to AG38Search:

“With Any of These Tags”: GUL “Doesn’t Have Any of These Tags”: ClientResult: 47 records

41% open rate (19 people opened the email)5% unsubscribe (1 out of those 19 unsubscribed)2 HOT leads that resulted in over $4,000 of placed premium

It’s not the size of the list, it’s the quality of it!

Tips for e-mail nurturing your life insurance database Keep the emails short.  Keep it personal and don’t make it sound like a canned email.  Don’t treat it as a “newsletter” with insurance news topics or

ways to help them financially (big mistake agents make).  Add your picture and social media icons to the emails.  Let

them connect with you and know you’re real. Concentrate on adding to this list every single day. Have some fun with it.Platforms for segmented e-mail nurturing- Infusionsoft, Office Auto Pilot, Marketo, Hubspot- Pinney’s new life insurance CRM will have segmenting available.

Launch date is within a couple months.

Building A Segmented Database Of Prospects

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Any Questions?

You can find me at www.selltermlife.com where I publish articles to help grow your life insurance business. Please drop by and subscribe to my email newsletter!

Jeff RootPhone: 949-480-9638Email: jeff@rootfin.com

VP, Sales & Marketing at Pinney Insurance

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

About Ryan

A Changing Industry:

What’s Next?

With Ryan Pinney

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

A Changing Industry, What's Next?

The Internet Continues to Change Everything

The Rise of the Direct Marketer

New Technologies and Trends ARE Redefining the Industry

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

“The insurance industry is facing challenges that make it ripe for a “Napster Moment,” the moment when some other industry steps in and redefines the game.”

Maria Umbach, Managing PrincipalInsurance and Financial Services

Maddock Douglas, Inc.

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Why Price, Underwriting, & Products Don't Matter

The P.U.P.S. Trap

The Lack of Differentiation

The True Value Add

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Stand-Up, Stand-Out, & Be Different

Decide to change

Find a niche

No value added

If you’re saying and doing the same things as your competitors – you’re just a commodity!

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Dif·fer·en·ti·ate:

To serve to distinguish between.

To perceive, show, or make a difference (in or between); discriminate.

I N S U R A N C EPINNEYMaking Millions with 21st Century Technology: 

Harnessing the Internet, Social Media, & Mobile Technology to Thrive!

Optimizing Your Agency: Lather, Rinse, and Repeat

Standardize

Systematize Automate

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