Call Us Today 800-686-4238In observance of Memorial Day, RAM GROUP will be closed on Monday, May 31st.
Remember, you can obtain forms and quotes at our website at www.ram-group.net
We will return on Tuesday, June 1st, ready to assist you.
We think you’ll agree with us when we say:
It’s REALLY difficult to break through the marketing noise and reach high-value clients.
But as it turns out, there ARE ways you can dramatically increase the chances of prospective clients approaching YOU.
In fact, the five ways we’ll share with you, all help increase your authority. And according to this Forbes article, “trusted authorities who consistently provide insight to the marketplace affirm the need (and desire) to hear from them, follow them, learn from them and work with them.”
But here’s the thing:
“Establishing authority requires showing that you’re a specialist in a particular subject matter or process, and possess a particular skill set that can help your prospect.” [Source]
We’re going to tell you how you can establish authority, but let’s back the truck up because before you can start establishing your authority, you have to make sure you’re clear on who your ideal clients are or who your target market is.
A target market is comprised of people you specifically want to do business with. As a financial professional, your target market might be people who are in your age demographic, who have children, and who have a net worth of $500,000 or more.
Whoever your ideal clients are, it can be difficult to get noticed by your target market.
After all, there are many financial professionals out there, and your top prospects don’t know you exist!
To change that, you want to be seen consistently and on topics related to your target market or niche. This reinforces your brand in the eyes of your prospects. If you’re constantly being seen as an authority on a specific topic, you naturally become the go-to person or source. Once you’ve established and built on existing credibility, prospects seek YOU out.
In this post, we’ll share five ways you can increase your visibility and become known in your target market.
A blog or newsletter is an excellent way to get noticed in your target market. By writing informative and educational content, you’re building authority in your practice area. Furthermore, you’re giving people the knowledge they need to solve their problems.
One of the easiest tips for coming up with topics to write about is to answer your client/prospect’s questions. Every time you get a question from someone, create a blog post about it. This concept was popularized by Marcus Sheridan, a pool guy turned blogger, podcaster, and keynote speaker. His philosophy is “They Ask. You Answer.”
You can read more about this in Sheridan’s book, They Ask You Answer: A Revolutionary Approach to Inbound Sales, Content Marketing, and Today’s Digital Consumer.
But what if you don’t have a lot of time to create content in your practice area?
You can curate content. Curation is the process of gathering and organizing information from various sources and presenting it in a way that’s easy to digest, such as a newsletter.
You might think that curating content means giving all the credit to other people and therefore, doesn’t establish you as an authority. But here’s how you change that –– instead of thinking of it as just forwarding a Money article to your target audience, for example, use it as an opportunity for thought leadership.
Make sure to give credit to content creators where it’s due, but then add your own commentary and reflection on the content you’ve curated. Pull out key insights and make connections for your audience. Show them how to apply the information you’re sharing.
Curation is especially effective today when we are overrun by content. You can provide value to your prospective clients by filtering information, so they don’t have to. As a result, YOU can become the authority.
If you’re not a fan of the written word, you can help increase your visibility and become known in your target market by hosting your own podcast.
Here’s why it works:
Nearly 51% of the U.S. population has listened to a podcast and of those who listen, 80% listen to all or most of each podcast episode. [Source]
This is a popular way for business owners to build their authority on a particular topic and turn listeners into clients because it’s pretty cheap to do. You’ll of course need to choose your niche, the name of your podcast, the style and format, length and frequency. You’ll need to invest in a high-quality microphone, as well as recording and editing software.
Not a podcast-savvy person?
You can achieve a similar impact in your business by being a featured guest on a popular podcast instead. To find relevant podcasts to be interviewed on, check out free directories of podcast shows and host contact information, such as RadioGuestList.com or PodcastGuests.com.
Record the information you find in an Excel file. Then follow up and consistently interact with the podcast hosts on social media. This makes it more likely they’ll say YES to booking you on their show when you ask.
Remember, podcast hosts may have hundreds of episodes (which is a good thing), but they are always looking for new people to interview. These podcast interviews can be shared with the news media and your existing network to help build your authority.
Although live events took a hiatus in 2020, they are very likely to come back as people miss the in-person experience. That means, there is still a need for speakers who want to grow their audience and authority. As you’re probably aware, there are plenty of venues for that.
As with the other options for growing your authority, you need to first establish who you want to get in front of. Once you’ve decided on that, it’s much easier to search for events and event organizers to contact.
The next thing to consider is the specific topic you want to speak about.
Would someone pay to hear you present on that topic?
And just as important, why should people listen to you?
Not only does speaking boost your authority, but the other suggestions we make here, can make you a sought-after speaker (Imagine if you were an author of a book? We bet event organizers would be even more interested in bringing you to the stage.)
Not interested in doing live events? Check out online summits or roundtables. You could also record a webinar. A recorded webinar not only works great as an evergreen lead magnet, it also helps you be seen as an authority. Just make sure that your presentation helps a client or prospect solve a problem. It’s not a recorded sales pitch – always keep in mind “WIIFM.” Your clients are always wondering, What’s In It For Me. So, make that obvious!
Creating content that no one sees is pointless.
You could write the best blog post or have the most interesting podcast, but if no one knows it exists – it doesn’t do you any good. And we’re guessing you’re not just creating content for the fun of it – you want to see some ROI.
One of the ways to get seen by your target audience is to get media mentions. Let’s say you published a podcast or wrote a book, announce it in a press release. Having these assets accessible online makes you more “discoverable.” What that means is when someone Googles your name, you’re more likely to come up in search results. That’s a good thing!
It’s important to note that YOU saying you’re an authority on a topic is whole lot less effective that SOMEONE ELSE saying you’re an authority. That’s the power of third-party validation or social proof. So, how do you get someone else to position you as an authority?
One way is to be quoted in an article. To get the media’s attention, research and connect with journalists who are looking for authorities in specific industries. When they need quotes, opinions, or facts, they connect with people in-the-know.
To find journalists, check out HARO (Help a Reporter Out), which could be a powerful marketing tool for your financial practice.
In our society, authors are revered.
And 80% of people want to write a book! However, it can seem like a daunting task, which is why only a fraction of the people who think they have a book in them, actually end up writing one.
The good thing is, you don’t have to become a bestselling author to experience the benefits of having a book.
As long as you have ideas, insight, and knowledge to share or a specific framework you use to help your clients achieve results, you could potentially fill a book –
A book that brings clients to you.
Writing a book doesn’t have to be as hard as it sounds. The first step is making sure you have answers to the following questions:
Who is your ideal reader?
What is your ideal reader struggling with or looking for?
What is your ideal reader’s biggest challenge that you can help with?
If you’re having trouble answering the above questions, look at other books in your niche for inspiration.
Keep the topic of your book narrow. You won’t be able to share everything you know as a financial professional in one book. Instead, focus on teaching one key concept that will help your readers with their biggest challenge. For example, if your book is about investing, choose one investment rather than covering stocks, bonds, mutual funds, and exchange-traded funds. Choosing one makes writing the book simpler and quicker. Remember, you can always write more!
But what if writing a book just isn’t in the cards for you?
Well, there’s a solution to that. It’s putting your name on a “white-labeled” book. Believe it or not, people write books that they’re willing to let you put your name on. The point to remember is that you still want the topic of the book to be something you have knowledge about, so that you can help the clients who read the book, put the concepts into action.
Having a book like this can shorten your sales cycle because you no longer have to convince someone to work with you. The book pre-sells them on working with you and the best prospects will seek out your services after reading the book.
*Before you start any marketing campaign, be sure to check advertisement guidelines in the state you do business in.
There are multiple ways to become known in your target market. Building your authority is one of the most effective ways to do that.
You can absolutely do everything we’ve outlined here on your own, however, as you probably know –– it’s a lot of work. No one said becoming an authority was easy.
Contact your RAM GROUP Life, Annuity, DI and/’or LTC specialist today to help you build and grow your authority!
Few challenges demand more of a business owner than passing on the family business to the next generation. Family members’ lifelong hopes, dreams, ambitions, relationships, even personal struggles with mortality – all figure into managing succession.
Yet managing succession is the task that is most critical to securing the future of private enterprise in the United States. Rising competition, government regulation, taxes, and other problems notwithstanding, the failure to plan and manage succession well is the greatest threat to the survival of family business.
Hundreds of thousands of businesses across the nation are approaching the retirement or death of their founders or chief executives with no plans for succession or inadequate plans that will fail to produce the desired results.
For those family firms with plans, many will fail because they mismanaged the succession planning process. No wonder less than one-third of family businesses survive into the second generation, and only about 13 percent make it into the third.
Business owners know the stakes are high. Ask any group of family business people at seminars around the country to name their number one concern and the answer almost certainly will be succession.
“I don’t think Dad is ever going to retire. What kind of a future does this leave for me?
-The son of a family business owner
“I don’t think I’m ever going to own any stock in the family business. Why should I continue to participate in it?”
-The daughter of a family business CEO
“I don’t know how I am ever going to get along with my brothers and sisters in the business.”
-One of several children in a family business
As professional advisors often say, “Family businesses have only three problems: succession, succession, and succession.” Aronoff, Craig, et al. Family Business Succession: The Final Test of Greatness. New York: Palgrave Macmillan, 2011. Print.
Letting go of a business can be challenging for a founder after they’ve spent a lifetime building their company. Starting the succession plan often is an incredibly painful experience for them to initiate.
How do we get clients to take action as we raise difficult questions and topics to prepare them to transition their business? We will position you as a trusted, knowledgeable and professional advisor, with a robust suite of advanced planning tools.
Please call your RAM GROUP Life Sales Rep to set up a consultation – we will help you understand and implement insurance strategies for your business owner clients.
NOTICE FOR INTERNET EXPLORER USERS
Starting Monday, May 24, 2021, iGO e-App® will no longer support the Internet Explorer 11 (IE 11) browser. This means some browser features and content, such as the Credit Card Token process, will not be available.
Browsers beware
If you attempt to use iGO e-App® with IE 11, or any out-of-date browser, you will receive this message.
Your browser is no longer supported. Some features and content may not work.
Also, active Transamerica LifetimeSM & Transamerica Final Expense Solutions cases
If you are using IE 11 and trying to complete a Lifetime or Final Expense case, the signature process will not be available. A separate message will be displayed reminding you that IE is no longer supported. Don’t be alarmed!
If you receive either of these messages, please log off, close your browser, and restart iGO e-App® with one of the supported browsers. iGO e-App® is best viewed using Microsoft Edge 89, Google Chrome 89, Firefox 87, or Safari 14. Most are available to download for free when you visit their website.
If you have any questions, please contact RAM GROUP.
We know how to elevate your sales. We are experts when it comes to new and innovative underwriting changes. We also know which carriers to recommend for your challenging clients.
Bottom line, we find ways to say “yes” to your cases.
Contact the RAM GROUP Life Underwriting Team – get some Preferred Best service as we help you with your next case!
Asset Based LTCi is designed to help protect your clients’ assets by using the safety of whole Life Insurance.
With a guaranteed premium, your clients will receive a guaranteed amount of Life Insurance that can be applied to their LTCi expenses.
Your premium is also credited with a minimum guaranteed interest rate, meaning your cash value is guaranteed to grow each month. And if your clients were to tire of the product, they have the option to request for a full return of your single premium – providing an increased level of flexibility that most clients are looking for.
Help your clients utilize an existing asset – whether that be money set aside in CDs, savings accounts, or other liquid funds – as the funding.
For more information about the many benefits of asset based LTCi, contact your RAM GROUP LTCi Sales Rep today.
Original Author: Matt Anderson, 5-20-2021
Many firms are finding it harder to obtain, retain, and reward select key employees and executives. Using a little known technique, employers can use special benefit options to give “select employees” Disability Income protection in the form of company paid tax deductible benefits.
I have found that a 162 Executive Bonus Plan is one of the best methods for employers who want to provide non qualified benefits to select employees on a legally discriminatory basis and also want to attract and retain quality long term employees.
The Executive Bonus involves the purchase of a Disability Income policy on the life of a select employee. The employer pays the premium on the disability policy and includes the premium in the taxable wages of the employee.
Because the employee is reporting the premium as income, the benefits from the policy then become tax free if the employee should get sick or hurt.
With the Executive Bonus, the employer will take a full income tax deduction for the premiums paid under section 162 of the I.R.C.
It has been my experience that some employers choose to pay not only the premium amount, but also the employees’ portion of the taxes that will be due on the premium. This second “bonus” pays the employees’ income tax on the first premium and creates what is called a double bonus plan.
Please contact your RAM GROUP Disability Income Sales Rep to discuss any potential opportunities you may have.
Original Author: Thomas Nicols, 5-19-2021
Determining the correct amount of life insurance protection remains a mystery to many. Recent studies show that most adults continue to lack adequate amounts of coverage – and close to two-thirds admit to not even having a personal life insurance agent.
A careful planning session that includes a survivor needs analysis is a rarity in the modern financial world.
As a result, millions of Americans shuffle through their daily lives totally clueless as to the potentially disastrous consequences awaiting their loved ones if their life is cut short, which is precisely what happens to approximately 25% of adults before they reach age 65.
Historically, there have been four “classic” methods for determining survivor needs:
Part of our job as insurance professionals is to help our clients and prospects identify needs they may have previously overlooked. Your Life Sales Rep can provide an excellent Financial Analysis Fact Finder to help steer you and your clients through this vitally important process.
Different categories include:
While not every question or category will pertain to any given client, the depth of the fact finding analysis forces both agent and client to consider all potential items that may have relevance to their financial situation. At the end of the process, clients feel a sense of ownership in the process as the assumptions are based on information they provided.
Make sure you’re prepared to help steer your clients through this vitally important process.
Contact your RAM GROUP Life Sales Rep to learn more about our fact finding tools and how we can help you zero in on the true need for each of your clients.
In today’s competitive job market, business owners are looking for ways to retain key talent. Did you know there are Life Insurance based plans business owners can use to reward these vital employees?
An Executive Bonus Plan allows a business owner to select who they reward with no discrimination rules, and have the contributions tax deductible to their business.
Plan implementation is easy, with no IRS approval necessary.
The Employer:
The Employee:
Furthermore, the flexibility of this plan is beneficial if the key employee ever chooses to leave the company – the policy is portable and can be funded by the employee’s personal dollars.
The pros to this plan are simple to understand and administer – it is important to the business owner to recruit, reward, and retain these important employees, and generally the tax deductions to the business owner are a great way to get the conversation started.
Contact your RAM GROUP Life Sales Rep today for more on this business planning solution.
Your client understands the need for Long-Term Care Insurance (LTCi), but feels the premium is too costly – they want the policy, but can’t afford the premium.
With all the options available on LTCi products, you can help your client “dial down” the premium to fit their budget. After all, some Long-Term Care Insurance is better than none.
Having the ability to show your client various benefit combinations allows you to tailor a policy that meets their needs while staying within their budget. And that gives you a competitive advantage in the LTCi marketplace.
For more information contact your RAM GROUP LTC Specialist today.