Marketing Corner – February 5th, 2016

25 Marketing Stats Every Financial Advisor Needs To Know

Financial advisors often state that marketing and prospecting are the main challenges they face in their practice. This is certainly understandable; marketing is a rapidly evolving process and reaching consumers can be difficult. However, it is possible to position yourself for success in our digitally-driven world. The important thing to remember is that there is not one process that will give you the edge, but rather a collection of approaches that work in concert with each other. That said, here are 25 important marketing stats you need to know.


Organizations using email to nurture leads result in 50% sales-ready prospects.
Forrester Research via Hubspot

These nurtured leads see a 20% increase in sales opportunities when compared to non-nurtured prospects.

Personalized messages are more effective than non-personalized messages. According to an Experian study, personalized messages received 29% higher open rates and 41% more unique clicks.

According to Campaign Monitor, personalized subject lines saw a 26% increase in open rates.
Campaign Monitor

Email is more effective for client acquisition than social media. McKinsey found that it was almost 40 times more effective than Twitter and Facebook combined.


Main Takeaway: Advisors should be utilizing email as a marketing tool and as a way to nurture leads passing through their marketing funnel. The more personalized you are, the better your open and click-through rates will be.

Direct Mail

Direct mail is nearly seven times more effective than email, mobile, social media, internet display, and paid search—combined. This is according the Direct Marketing Association Response Rate Report 2015.
DMA via PremierIMS

Over forty percent of people that receive direct mail items read or scan them.
DMA Statistical Fact Book via eleventy marketing group

A survey conducted by DMA found that seventy-nine percent of consumers would act on direct mail immediately versus 45% who said they would act on email immediately.
DMA via The Drum

A neurological study conducted by Temple University, and sponsored by the Postal Service Inspector General’s Office, found that:

  • While digital ads draw attention quicker, direct mail has more review time
  • Direct mail is more easily remembered than digital ads
  • Direct mail elicits more of an “emotional reaction” than digital ads

DM News


Main Takeaway: Even in a digital driven marketplace, direct mail is still a very effective marketing platform.


70% of mobile searches result in website action with an hour

A little over 80% of consumers surveyed stated they would delete a mobile email if it didn’t render properly.
Blue Hornet

65% of all email is opened on a mobile device, such as a smartphone or tablet.
Venture Beat

Almost half of consumers will abandon a website if it renders poorly on a mobile device.
The Social Media Hat

40% of mobile searches are focused on local services
Think With Google


Main Takeaway: Consumers increasingly use their mobile devices to access the internet and interact with pieces of marketing. Your website and your emails should be designed for the mobile experience.


Consumers spend an extra two minutes on websites with video, versus sites that don’t
Merchant Marketing Group

More than half of all mobile traffic is online video
Merchant Marketing Group

Video on landing pages leads to an increase in conversion, in one test case as much as 86% conversion.

Main Takeaway: Video can be a powerful way to enhance your website and marketing materials.


A one second delay in loading time can reduce conversions by 7%

A loading time of more than three seconds causes 40% of shoppers to abandon the website.

Not really a stat, but very important. In April of 2015, Google began using mobile-friendliness as a ranking signal in search results. This means if your website does not smoothly translate to mobile, it may not rank higher in search results when a consumer searches from a mobile device.

Main Takeaway: Make sure your website loads quickly and incorporates responsive design.

Social Media

Social media is now an important research tool for investors. According to a report from LinkedIn and Cogent Research, 5 million investors with assets $100,000 or more use social media to investigate their financial decisions.

LinkedIn/Cogent ResearchSocial Media’s Growing In­fluence Among High Net Worth Investors”

Most high-net-worth investors use social media (over 90%).

LinkedIn/Cogent Research

Social Media’s Growing Infl­uence Among High Net Worth Investors”

Over 60% of advisors who used LinkedIn for prospecting acquired new clients.
LinkedIn and FTI Consulting

According to a recent American Century Investments report, about 43% financial professionals identify a positive ROI to their social media use.
American Century Investments

The same ACI report found that LinkedIn helped advisors surveyed by:

  • Enhancing profile with clients (48%)
  • Enhancing business knowledge (28%)
  • Improving on referrals (28%)
  • Sharing insights with clients/prospects (24%)American Century Investments 

A recent Putnam survey of over 800 advisors, found that 79% had found new clients via various social media.
Putnam Investments

Main takeaway: Social media, especially LinkedIn, can be extremely useful to connect with new clients. These clients include high-net-worth individuals and others many advisors would identify as their target market.

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Tuesday Tips – February 2nd, 2016


North American Dropping Rates

North American will be dropping caps on several of their IUL Products effective February 29th. Money will need to be received at the home office by February 25th to receive current rates. Call today to get an updated rate sheet.

National Life Dropping Rates

National Life has dropped rates on their UL and IUL products effective February 1st. Most of the decreases are around .25bps with participation rate strategies dropping 5%-10%. Call today for an updated rate sheet.

Sales Opportunity

Athene Sales Opportunity

Athene is currently running a sales contest through April 8th of this year for their Performance Elite FIA series. Clients can get up to a 12% bonus with an annual point to point cap. While the advisor can earn up to an additional 1% bonus on top of their commission. Call today for additional contest details and product information.

Industry News

Symetra Completes Transaction

Effective February 1st Symetra completed the transaction to sell to Sumitomo Life Insurance Company of Japan. With this completion of the sale Moody’s has upgraded Symetra’s financial strength rating from A3 to A2.

Hot Rates

Forethought Income 150+

Forethought’s Income 150+ is a competitive 10 year product that offers competitive income and caps. The product offers up to a 50% premium bonus to the income account value and effective February 1st has added a new volatility control index managed by Blackrock. Call today for details and state availability.

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Marketing Corner – Go Deep on Ideal Retirement

Go Deep on Ideal Retirement

“What does your ideal retirement look like?”

This is an important question, often posed by advisors and agents to potential clients during an initial appointment. The question helps to gauge what matters most in retirement for the consumer and to plot financial planning strategies. However, consumers likely offer up general answers (i.e. “I’d like to travel, or I want to spend more time with family”), which the advisor uses to roughly outline a plan. The truth is that many consumers have yet to fully consider what retirement means for them and also that advisors don’t spend enough time going deeper into retirement specifics.

Deeper probing can help prospects identify their retirement goals and target the solutions needed to the achieve them. For the advisor it helps build rapport and makes you seem more empathetic. More importantly, once you have delved deep into retirement lifestyle specifics, consumers connect strongly with you and your expertise. They now have a more tangible picture of what retirement means and have more “buy in” to your solutions. You may identify other planning needs.

This is somewhat related to the behavioral concept of mental accounting. This particular bias describes how individuals attach irrational value to money (or accounts) based on it’s origination or intended purpose. So a $10 windfall from a lotto scratcher is likely seen as “free money” to use on entertainment, even if you owe a friend $20. Or money saved for a vacation may get treated differently than other sources of income, even when it comes covering unexpected bills. Financial planning can work the same way and turn mental accounting into a positive that ultimately helps the prospect actualize their retirement goals. Going deep in ideal retirement discussions allows consumers to attach more value to a hypothetical source of funds that will become real with your expert solutions.

So how do you go deep? Here are some questions that help you probe further.

The prospect wants to travel more-

  • “Do you know where you wish to travel once you are retired?”
  • “How much will your travel cost? How have you saved for this retirement goal?”
  • “Will there be a central base for your travels?”
  • “How often will you travel?”

The prospect wants to spend more time with family-

  • “Will you move to be closer with family?”
  • “Will someone move to be closer to you?”
  • “Do you plan on helping family members financially, for instance helping to pay education for a child or grandchild?”

The prospect wants to start a new business-

  • “Is this business designed to be a main source of income, or a passion you will follow?”
  • “How have you saved for this retirement goal? How much will it cost to establish your new business venture?”
  • “Will you need further education to pursue this goal?”
  • “If this business is unsuccessful, will you be able to maintain acceptable retirement income?”

The prospect wants to focus more on hobbies, leisure, or passions-

  • “What types of hobbies do you plan focusing on?”
  • “What kinds of costs are associated with these hobbies?”
  • “What types of leisure activities will you engage in during your retirement?”
  • “Do you plan on purchasing a recreation vehicle or boat to pursue your interests?”
  • “Will you be spending time volunteering or performing charity work?”
  • “Will you need extra sources of income for your volunteer or charity work?”

Other questions:

  • “Will you downsize to a smaller house?”
  • “Are you thinking about moving to a new place?”
  • “What’s still left on your bucket list?”
  • “Will a spouse be dependent on your resources?”
  • “Will you retire much earlier than your spouse?”

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Tuesday Tips – January 26th, 2016


Lincoln National Dropping Rates

Effective February 1st Lincoln National will be dropping rates on several of their fixed and indexed annuities.  Applications must be at the home office by January 29th to qualify for the current rates.  Call today for an updated rate sheet.

Equitrust Raises Rates

Equitrust has raised rates on the WealthMax Bonus IUL.  This single premium simplified issue product  offers a return of premium in addition to competitive cash accumulation and death benefit.  Call today for additional details and an updated rate sheet.

Sales Opportunity

Tax Update

The new year has ushered in a number of tax changes from last year.  Since W-2’s and 1099’s must be mailed by the 1st this can be a great opportunity to meet with clients.  Available for download is a 2016 tax update that lays out all of the changes for the new year.

Industry News

AIG Advisor Group Sold

AIG announced today that AIG Advisor Group(the company’s network of broker dealers) has been sold to Lightyear Capital and PSP Investments.  The deal is expected to be finalized in the second quarter of this year.

Hot Rates

Term with Living Benefits

We get a lot of questions about life products with either ltc or chronic illness benefits.  This is an area where production continues to grow year over year as consumers have started to look at alternatives to traditional LTC.  While most advisors are aware these riders are available on permanent products there are also a number of lower cost term plans that incorporate these types of benefits.  Call today to get a full list and product detail.

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Marketing Corner – January 21st, 2016

Energize the New Year with a Short-Term Marketing Plan

It’s finally 2016. While you may be finally getting over the hangover of the holidays and slowly settling in for a new year of business, there’s one thing you may have overlooked—your marketing plan. This is important, as the first couple of months for many advisors can be a down period. Although having a long-term marketing plan is going to be best, here are five best practices for creating a short-term solution to get you through the slump.

Identify Your Target Market

Any good marketing plan, whether short-term or long-term, will begin with identifying your ideal target market. However, your short-term target may be different than your long-term target, since you are likely looking for quantity as much as quality in the short-term. Leads that while not yielding higher production, are easier to convert.

Have Specific Goals

Just because you are looking for quick short-term growth does not mean you can’t be specific with your ideal results. If this year, as it is for many advisors, is starting in a slump, identify specific goals you hope to achieve. This could be a revenue target, or number of appointments set, or a number of leads in a set timeframe, or it could be a mix of all of these. The point is that having ill-defined objectives will get you ill-defined results.

Consider Marketing Platforms That Offer Efficient and Immediate Results

Once you have figured out your target market and specific goals, consider the means of your marketing. While the central question in evaluating your marketing options is what’s going to give the most bang for your buck, in a short-term plan, you will want to focus on things that give you immediate results. This can include methods and programs such as live lead transfer systems, direct mail, presets, e-blasts, online leads and networking events. When compared to more involved means such as seminars, the leads may not be as qualified in your short-term marketing strategy, but they should get you in front of more potential clients. Some of these options may ultimately cost more on a per-lead basis, but they can dramatically shorten the time to convert. Some of them, such as e-blasts and digital marketing, are relatively inexpensive and things you should be doing already.


As with any marketing plan, you will need to establish a reasonable (and practical) budget. Since you will be working on a shorter time frame, and are starting at the beginning of the year when cash flow may be weakened, the budget you can set for your short-term marketing may be limited. This is actually okay, as you probably don’t want to use large portions of your overall yearly marketing budget in the first six weeks of the year. Choose smart marketing options that balance your immediate need for qualified leads with your need to keep operational costs low.

Develop Your Long-Term Marketing Plan

The points above can help you survive a slump or jumpstart a down period, but they do not make for a sustainable marketing plan. Relying only on these short-term solutions may deplete your budgets and exhaust your target market. You may find that your marketing solutions are not worth the return on investment. As you implement your short-term marketing plan, make sure that you also spend time developing your long-term marketing plan. Consider goals on longer timeframes, i.e. where do you want you business to be at the end of the year, where do you want it to be in five years, what new client types will you pursue. For more information about how to develop a long-term marketing plan, check out our earlier Marketing Corner post, “Your Insurance Marketing Plan.”

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Tuesday Tips – January 19th, 2015


LFG Reprice

Lincoln National has announced a reprice for their LifeGuarantee UL that will take affect February 8, 2016.  Premiums for all cells will have either been reduced or will remain constant.  In particular rates have been improved in the 50+ market.  Call today for additional details.

Equitrust Certainty Select

Equitrust has announced it will be discontinuing the optional rider for the Certainty Select MYGA.  The rider will be discontinued February 1, 2016.  Applications must be at the home office by January 29, 2016 to still get the rider.  Call today for additional details.

Sales Opportunity

Advanced Lead Nurturing

When you generate a lead you try to set an appointment with the prospect.  If you’re not able to set an appointment then you drop them into your drip marketing bucket.  It’s no secret that the highest probability of setting an appointment is in the first 30 days after receiving the lead.  In addition to this the chance of setting an appointment increases with each contact you have with the prospect.  Available for download is our Supercharge Your Leads sales guide which shows you how to create additional non invasive contacts with a prospect to increase your appointment setting ratio.

Industry News

Interesting Stats From LIMRA

Two-thirds of women age 50 and older say they split financial decisions with their spouses, while fewer than half of men admit to sharing decisions.

For both women and men who are primary decision makers, only one-quarter have a formal retirement income plan.

Advisers who help their clients with retirement income planning have greater client satisfaction and loyalty.

Hot Rates

Voya Wealth Builder Plus

The Wealth Builder Plus by Voya is a competitive 8 year FIA designed for accumulation.  The product offers 4 crediting options with annual point to point caps up to 7.5%.  In addition to this product allows for flexible premiums and offers a nursing home rider as well.  Call today for additional details and state availability.

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Marketing Corner – January 14th, 2015

Supercharge Your Leads!

According to Aberdeen, it can take an average of 10 “touches” to draw a lead through your marketing funnel before a sale occurs. Although the actual amount of marketing touches will vary across industries and target markets, it’s generally true that the best leads take nurturing. Rarely do you snag a sale on the first go; rather it takes serial contact, sometimes months, even years.

What this means is that while playing the long game can pay off hugely, the first stages of contact are especially critical. Many advisors (wisely) have a drip marketing system in place, but how do you supercharge leads before they enter the drip? How do you make it more likely that a lead will convert (and convert early) in your pipeline?

This is where efficient lead nurturing comes in to play. There are many different ideas about what exactly lead nurturing is and various methods to perform it. For our purposes, lead nurturing is any serial contact with a prospect. Your methods can include emails, phone calls, direct mail, social media—really anything you already have in your tool kit to communicate with prospects. It’s the how that’s the secret to efficient nurturing and supercharging your leads.

What methods you use will be specific to you and your target market. You likely will use a variety of methods as you communicate with a prospect, especially if you identify early on they are a type of client you want to work with. That said, this guide is going to focus on phone and email, since that’s what you will use most when you begin to talk with a prospect. We’ve also found, through the advisors we work with, that thirty days is a good timeframe for actively nurturing leads before placing them in a more passive drip campaign. It’s in this thirty day period you should learn enough about your prospect to place them on a targeted track, and they should be able to learn enough about you and your value proposition.

Here’s the how:

Follow Up As Soon As Possible, Be Persistent
Whenever you identify a lead, don’t waste anytime in reaching out to them. Multiple marketing studies have confirmed that the likelihood of contacting a prospect, and their value as a lead, decreases significantly over time. Even a lapse of a few hours can dramatically make connecting with the lead more difficult.

However, the chance of making contact rises with every attempt. One study found that the chance of contact rose to 90% by the sixth call attempt.

Be Succinct and Clear
Unless follow-up emails warrant lengthy explanations, be as succinct and clear as possible, while still having a friendly, professional tone. The financial world can be overwhelming to those without their feet in it, so avoid unnecessary jargon and overexplanation. This does not mean, however, you shouldn’t try to educate—you absolutely should—just be aware of the limitations that come with engaging with someone who may not be familiar with financial concepts through email.

It sounds simple enough, but it can’t be overstated. Use probing skills to find out the specific needs or inquiry of the prospect. Once a prospect has explained their situation and identified that they aren’t ready to buy, many advisors focus their probing on reasons why the client isn’t ready to purchase. Certainly hesitations and concerns need to be addressed, but asking a lead “what’s preventing you from purchasing today” only goes so far and came across as aggressive.

Balance this question with further probing into the prospect’s specific situation. Use soft skills to build rapport and take the edge off pointed pitches. If you have good interactions and demonstrate you care, the lead will be receptive to further marketing touches.

While you should take every effort to personalize every piece of communication with a lead (and certain email systems make this possible to do on drip emails), having an active hand and high personal touch in initial interactions can go a long way to fostering a good relationship and increasing the likelihood of purchase at some point. Lead nurturing emails can get 4-10 times the response rate as compared to regular email blasts. According to Aberdeen, personalized emails increase conversion rates by 10% and click through rates by 14%.

Draw on Relevant Content and Articles
As you go back and forth with a lead, make sure to take note of the areas that concern them. This could be held in your CRM or some other detailed note taking process. When you come across articles that speak to the concerns of your prospect, share them. Better yet, you could create content based on your conversation and interactions. Say a prospect is concerned with Social Security changes—if you had some pieces ready to go, plus a current news article that delves into this topic, plus maybe an infographic, you would a have a bundled package that not only educates them on their concerns, but demonstrates your expertise and specific interest with the prospect.

Don’t Stop Nurturing a Lead
In our marketing funnel framework, we’ve outlined that the first thirty days are a critical period to engage with a lead. This is when you apply your most direct, active, and personal marketing touches with the aim to convert the prospect or leave them with a good impression by the time you drop them into your passive drip marketing process. This structure allows you to provide the most personal marketing touches when it matters most.

However, just because a lead is in your drip funnel, doesn’t mean that you can’t (or shouldn’t) make more direct marketing touches every now and then. Touch base with phone calls, issue targeted offers, and send personalized emails. This will allow you to “rake the coals,” so to speak, and potentially leverage a prospect that is further down your marketing pipeline.

**Need help with Supercharging Your Leads? Legacy Financial Partners has created a helpful sales guide that includes this article, email templates, and a marketing funnel illustration. Submit your information for your free guide.

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Tuesday Tips – January 12th, 2016


MYGA Rate Increase

Both North American and American Equity have increased rates on their MYGA’s. Call today for an updated rate sheet and state availability.

MedAmerica Out of LTC Business

MedAmerica announced last week that they will be exiting the LTC marketplace effective February 15, 2016. MedAmerica cited economic conditions and the low interest rate environment as the reasons for the exit.

Sales Opportunity

Sales Tips

Prospecting still remains one of the biggest challenges advisors face. Available for download on our website is our 16 sales tips for 2016 guide. The guide includes 16 prospecting and marketing ideas to generate more prospects.

Industry News

Quantitative Easing

Between 2008-2015 the Fed bought over $4trillion in bonds to stimulate economic growth. US and Foreign banks currently hold $2.5 trillion at the Fed and are paid $34.5 million in interest per day.

Hot Rates

American Equity Choice Series

American Equity offers a competitive portfolio of accumulation focused FIA’s. The Choice series offers 6 to 10 year surrender options, multiple crediting options, and annual point to point caps as high as 5.25%. Call today for details and state availability.

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Marketing Corner – January 7th, 2016

Jump Start the New Year

After an eventful 2015, the New Year is finally here. While you reflect on how you did last year and consider what 2016 holds, you may be searching for new strategies for growth. Certainly the beginning of the new year is a good time to reevaluate your business and set goals. We’ve already discussed how to properly evaluate your year, what things will affect boomers and advisors in 2016, and what marketing platforms you should consider this year. Long story short, there are many changes you should be aware of that will impact your business and your potential clients.

If you are looking to try new things this year (and why shouldn’t you be) Legacy Financial Partners has created a 16 Tips for 2016 sales guide that can help you jump start 2016. This exclusive guide provides quick and handy tips to achieving your growth objectives. Click here to download.

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16 for 2016

Tuesday Tips – January 5th, 2016


Mutual of Omaha GUL Reprice

Mutual of Omaha has repriced their GUL. In certain bands pricing has gone down and in others it has gone up. In addition to this they have extended the number of years the GRO rider is available which gives increased access to cash value. Call today for additional details and state availability.

Athene Raises Rates

Athene has increased rates on the TargetHorizon series and Benefit 10. Caps have increased and spreads have decreased on the TargetHorizon series and the rollup rate has increased on the Benefit 10. Call today for additional details and state availability.

Sales Opportunity

Social Security Maximization

Life insurance can potentially be a useful tool in maximizing social security income. Properly funding an accumulation life insurance product prior to triggering social security benefits can create a pool of cash that can be drawn from income tax free. This income could be taken in conjunction with social security income or in replace of social security income in order to defer triggering benefits in order to get a higher benefit. In addition to this the death benefit can provide a much needed death benefit in the event of one of the spouses passing away prematurely. Call today for additional details.

Industry News

Income Stats

According to the most recent numbers from the IRS, to be in the top 1% of income earners the magic number is $428,713. The top 1% took home 19% of the total AGI and paid in 38% of the total income taxes due. The bottom 50% earned just 11.5% of total AGI and paid in 2.78% of all income tax.

Hot Rates

North American Guarantee Builder

North American’s Guarantee Builder is a competitive FIUL that offers upside protection as well as guarantees. The product offers a full death benefit guarantee to age 120 in addition to annual point to point caps as high as 13.5%. In addition to this the product offers free chronic and terminal illness riders. Call today for additional details.

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