Developing Association Sales…Developing Association Sales……a Process Using the Internet…a Process Using the Internet
Presented by: Presented by:
Brian M. Johnson, CLTC, MBA Brian M. Johnson, CLTC, MBA
National Long-Term Care Brokers, LtdNational Long-Term Care Brokers, Ltd..
““Approach an ordinary activity…Approach an ordinary activity…
… …in an extraordinary way”in an extraordinary way”
Become a Trend Spotter…Become a Trend Spotter…
… …and relate those trends to your businessand relate those trends to your business
AgendaAgenda Trend Spotting!Trend Spotting!
– DemographicsDemographics– Education, ExperienceEducation, Experience– ““Green”Green” Initiative, Technology Initiative, Technology– Healthcare, LifestyleHealthcare, Lifestyle
Why association marketing?Why association marketing? LTCi in the association marketLTCi in the association market
– Carrier guidelinesCarrier guidelines– BenefitsBenefits– UnderwritingUnderwriting
Once you have the endorsement, now what?Once you have the endorsement, now what?– Activities to increase participationActivities to increase participation
Leveraging the Association’s communicationLeveraging the Association’s communication– Internet sales presentationsInternet sales presentations
Mock Web MeetingMock Web Meeting Case StudiesCase Studies
What do we want as agents?What do we want as agents?
Qualified prospects to talk to!Qualified prospects to talk to!
So what’s our true challenge in selling Long-So what’s our true challenge in selling Long-Term Care Insurance?Term Care Insurance?
It’s not the actual sale of Long-Term Care Insurance. It’s not the actual sale of Long-Term Care Insurance. Long-Term Care is something that has touched or will Long-Term Care is something that has touched or will touch almost every person you meet.touch almost every person you meet.
The true challenge is finding the groups of people that The true challenge is finding the groups of people that trust you and want to speak to you.trust you and want to speak to you.
TrendsTrends DemographicDemographic
– Aging Baby Boomer generation is 78 Million StrongAging Baby Boomer generation is 78 Million Strong– 46 Million Generation X members are now in the workplace46 Million Generation X members are now in the workplace– Longer life expectanciesLonger life expectancies– Geography and the family dynamicGeography and the family dynamic– There is a gap not covered by health insuranceThere is a gap not covered by health insurance– Technology, going Technology, going “Green”“Green”, even LTCi are En Vogue. Capitalize., even LTCi are En Vogue. Capitalize.
Personal Experiences are on the risePersonal Experiences are on the rise– Lost productivity in the workplaceLost productivity in the workplace– The “Sandwich” GenerationThe “Sandwich” Generation
An increased thirst for education on LTC planningAn increased thirst for education on LTC planning– Consumers and PlannersConsumers and Planners
TechnologyTechnology– Your prospects and clients are busy people, but they are also internet Your prospects and clients are busy people, but they are also internet
savvysavvy– Internet and Telephone CounselingInternet and Telephone Counseling– EducationEducation
What makes an Association, an What makes an Association, an Association?Association?
The official definition from the IRS: “In general, an association is a The official definition from the IRS: “In general, an association is a group of persons banded together for a specific purpose." group of persons banded together for a specific purpose." – Associations exist to set standards for industries and professions, Associations exist to set standards for industries and professions,
provide networking opportunities for like minded people and to provide networking opportunities for like minded people and to provide education and training.provide education and training.
– A sense of community coordination is at the heart of associations.A sense of community coordination is at the heart of associations.
The criteria insurance companies use to approve an association The criteria insurance companies use to approve an association discount (5%-10%) are:discount (5%-10%) are:– Does the group have by laws?Does the group have by laws?– Do the members pay dues?Do the members pay dues?– Was the group formed for reasons other than obtaining a discount Was the group formed for reasons other than obtaining a discount
on insurance?on insurance?
In 2004, it was estimated that there were approximately 1.8 Million In 2004, it was estimated that there were approximately 1.8 Million Associations in our country. Associations in our country. 1. ASAE and the Center for Association Leadership. www.ASAEcenter.org1. ASAE and the Center for Association Leadership. www.ASAEcenter.org
Why Market LTCi to Associations?Why Market LTCi to Associations?
Extremely large numbers of qualified prospects to talk to, Extremely large numbers of qualified prospects to talk to, that already trust you!that already trust you!
Why Market LTCi to Associations?Why Market LTCi to Associations? Large groups of potential clients that are bound by a common Large groups of potential clients that are bound by a common
cause.cause. Association members are typically “planners” by nature. Association members are typically “planners” by nature. Association members trust the vendors endorsed by their Association members trust the vendors endorsed by their
association. association. Discounts of 5-10% for the member, as well as her/his Discounts of 5-10% for the member, as well as her/his
immediate family members.immediate family members. Depending on the association, many members own Depending on the association, many members own
businesses or have leadership roles within his/her business businesses or have leadership roles within his/her business (Employer paid opportunities).(Employer paid opportunities).
Keeps you active and busy.Keeps you active and busy. Ancillary business.Ancillary business.
Advantages to the AssociationAdvantages to the Association
A discounted LTCi program adds value to their membership.A discounted LTCi program adds value to their membership.– Shows the membership base, that the association cares Shows the membership base, that the association cares
and is looking out for the members’ and their families’ best and is looking out for the members’ and their families’ best interest.interest.
– Helps to attract and retain members, justifies membership Helps to attract and retain members, justifies membership dues.dues.
Gives the membership and employees of the association a Gives the membership and employees of the association a trusted resource for information on LTC planning.trusted resource for information on LTC planning.
There is zero cost to the association for endorsing a There is zero cost to the association for endorsing a discounted LTCi program.discounted LTCi program.
LTCi as a member benefit gives the association another LTCi as a member benefit gives the association another reason to contact or “touch” the membership base.reason to contact or “touch” the membership base.
Underwriting for AssociationsUnderwriting for Associations
Associations usually offer Long-Term Care insurance as Associations usually offer Long-Term Care insurance as a voluntary member benefit, meaning all applications a voluntary member benefit, meaning all applications require full medical underwriting.require full medical underwriting.
However, if a certain number of applications are However, if a certain number of applications are guaranteed (usually 10+), some carriers will offer guaranteed (usually 10+), some carriers will offer simplified underwriting. simplified underwriting. – A great opportunity for the employees of the actual association. A great opportunity for the employees of the actual association.
Do your fact find with the executive director of that Association. Do your fact find with the executive director of that Association. Associations, have the same challenges of retaining and Associations, have the same challenges of retaining and recruiting talented people.recruiting talented people.
Which Associations are the Which Associations are the Best to Market To?Best to Market To?
Every Association!Every Association!
Remember our Survey. People from all walks of life and Remember our Survey. People from all walks of life and from all industries experience Long-Term Care. Long-from all industries experience Long-Term Care. Long-
Term Care does not discriminate and neither should you Term Care does not discriminate and neither should you in your marketing efforts.in your marketing efforts.
Where To Find AssociationsWhere To Find Associations
Start with the people you do business with everyday! Ask them Start with the people you do business with everyday! Ask them what professional associations they belong to?what professional associations they belong to?– Your doctor, dentist, child’s orthodontist, dry cleaner, restaurant/bar Your doctor, dentist, child’s orthodontist, dry cleaner, restaurant/bar
owner, day care owner, police officer, contractor, architect, librarian and owner, day care owner, police officer, contractor, architect, librarian and even the president of your home owner’s association.even the president of your home owner’s association.
– Your hiking or ski club, woman business owners associationYour hiking or ski club, woman business owners association Ask if there is a discounted Long-Term Care Insurance benefit for Ask if there is a discounted Long-Term Care Insurance benefit for
members? Most will say “I don’t know” or simply “No.”members? Most will say “I don’t know” or simply “No.”– Get that person to refer you in, or ask if it’s ok to use their name when Get that person to refer you in, or ask if it’s ok to use their name when
talking to the executive director.talking to the executive director. Search the Internet and Yellow Pages. Search the Internet and Yellow Pages. Ask your current clients, friends and family members what Ask your current clients, friends and family members what
professional associations they belong to.professional associations they belong to. Utilize the fact that you have a “Mutual Client.”Utilize the fact that you have a “Mutual Client.”
Who to Speak to at an Association Who to Speak to at an Association
The Executive Director of the Association is The Executive Director of the Association is the decision maker and the person you want the decision maker and the person you want to meet with.to meet with.
Key points to discuss:Key points to discuss:– Attracting and retaining membersAttracting and retaining members– Bringing value to the membershipBringing value to the membership– Opportunity to reach out and “touch” their membership Opportunity to reach out and “touch” their membership
basebase– Make it clear that you are going to be a resource for Make it clear that you are going to be a resource for
educationeducation– Benefits of competing AssociationsBenefits of competing Associations– Highlight the current associations you work with, provide Highlight the current associations you work with, provide
references.references.– The prevalence of Long-Term Care The prevalence of Long-Term Care
Discuss the Impact of a Long-Term Care event Discuss the Impact of a Long-Term Care event Statistics about Long-Term CareStatistics about Long-Term Care
Once you have the endorsement, how Once you have the endorsement, how do you market to the membership base?do you market to the membership base?
Develop a marketing plan. Many carriers will require your Develop a marketing plan. Many carriers will require your marketing plan prior to approving a discount for an marketing plan prior to approving a discount for an association.association.– MailingsMailings– SeminarsSeminars– Email blastsEmail blasts– TradeshowsTradeshows– WEB MEETINGWEB MEETING
Be sure to work with the Association and get their Be sure to work with the Association and get their guidelines for working with the membership.guidelines for working with the membership.– (Some Associations will email you their mailing list, while others (Some Associations will email you their mailing list, while others
will handle mailings for you). will handle mailings for you). If the Association offices are close to your office or home, If the Association offices are close to your office or home,
be sure you stop in frequently. be sure you stop in frequently.
Web PresentationsWeb Presentations
Why It Works:Why It Works:– People are busy (you and your prospects). People are busy (you and your prospects). – It allows you to meet with more people. It allows you to meet with more people. – People are not hesitant to meet with you via the web. People are not hesitant to meet with you via the web. – Immediate credibility.Immediate credibility.– You can control the presentation and show your You can control the presentation and show your
prospects what you want them to see.prospects what you want them to see.– The geographic restrictions no longer exist. The geographic restrictions no longer exist.
What to use:What to use:– Go To Meeting (Go To Meeting (www.gotomeeting.com))– Web Ex (Web Ex (www.webex.com))– Yugma (Yugma (www.yugma.com) )
Key Points To RememberKey Points To Remember
You can’t see the client or prospect, You can’t see the client or prospect, keep him or her engaged. keep him or her engaged. – Ask a lot of questions, listen to their Ask a lot of questions, listen to their
answers.answers.– Ask for their opinionsAsk for their opinions– Ask for their concernsAsk for their concerns– Ask for the businessAsk for the business
Design a sample plan in real time Design a sample plan in real time with the prospect.with the prospect.
Mock Web PresentationMock Web Presentation
Mock Web PresentationMock Web Presentation
Phase I – Questioning your prospectPhase I – Questioning your prospect Phase II – What is LTCPhase II – What is LTC Phase III – OptionsPhase III – Options Phase IV – Plan DesignPhase IV – Plan Design Phase V – Asking for the businessPhase V – Asking for the business
Case StudiesCase Studies
Library Association – 3,400 Members
Nurses’ Association – 24,000 Members Restaurant & Tavern Association – 1,800 Members
Bringing It All TogetherBringing It All Together
Pay attention to the trendsPay attention to the trends Target Associations to market to (use the Target Associations to market to (use the
internet and ask the people you live, work and internet and ask the people you live, work and play with play with the “mutual client”) the “mutual client”)
Get an appointment with the Executive DirectorGet an appointment with the Executive Director Once you have an endorsement, co-brand Once you have an endorsement, co-brand
yourself with the association and get marketingyourself with the association and get marketing Expand your reach by utilizing web conferencingExpand your reach by utilizing web conferencing Your extraordinary approachYour extraordinary approach
Thank you for the opportunityThank you for the opportunity
Brian M. Johnson, CLTC, MBABrian M. Johnson, CLTC, MBA
[email protected]@nyltcb.com
