One of the most used methods for financial professionals—including insurance
agents—to get their message to the masses is the seminar. Everyday,
professionals everywhere are sending invitations to get people to come to an
evening of food, fun, and learning.
Now, what usually attracts people to a seminar is the lure of a free dinner
at some medium to up-scale restaurant. Once there, the insurance agent has
their attention to explain a principle of insurance that can be helpful to protect
the futures of the attendees. With that, it is hopeful that they will make
appointments to get more information and buy the product.
The key for the insurance agent when using the seminar method is to stick
with a message. For instance, don’t try to explain the full world of
insurance—it is too big even for more seasoned agents! Instead, take a specific
topic, such as annuities, and explain how they work, their advantages over
other investment products, and what you do to help your clients with their
annuity needs.
Now, putting on seminars can be somewhat expensive. They require sending out
an enormous amount of invitations just to get a few responses. The rule of
thumb is to assume that you will receive a 1%-2% response rate. This means
sending out 5,000 invitations for only 50 responses.
Next, the insurance agent has to choose a place where the seminar can be
held. This is an area where some agents get themselves into trouble. You don’t
have to hold it at the most expensive restaurant, or the fanciest meeting place
in your city. Instead, holding it at a medium-priced restaurant in your area is
often just as good. In fact, holding it at a place that is considered “for the
rich” can dissuade some people who would otherwise be interested from not coming
because it can give the appearance that your message is only for people with
lots of money to invest.
Finally, it is important to remember whey you are holding the seminar: to
get appointments. It is fine to have a couple of door prizes to encourage
people to come to the dinner. However, if your seminar gets bogged-down in
drawing and games, people will be less likely to take away the message of your
seminar—and less likely to want to make an appointment!