Timing is important

Sat in on a webinar a week or so ago.  The title of it intrigued me since I could not figure out why it was setting such a low expectation for a certain metric.  Then I gave them an hour of my life and they basically explained why.

Some people don’t think big enough  

Kind of reinforced me to not pay much attention to consultants who are paid for time not necessarily results.  Anyhow, Lots of goofy ideas where talked about but two stood out;

  1. The times you should be cross selling a current customer/client
  2. The times to ask for referrals

Both are very valid things to talk about.  There are likely dozens of ideas and concepts that have been written about and that those writers will say work.  Cool.  A couple of questions to consider;

  1. When I make the time to call you, I am likely calling to handle something specific.  I may be stressed, busy, on my lunch break, etc  Why would you think I am giving you permission to take more of my time?
  2. What correlation is there between changing a car on an auto insurance policy or refinancing my home with asking me for more money?

Now, I absolutely agree with just about every study surrounding account rounding and the more lines of business in a household.  On the other hand, I am confident to know that whatever I have already done for you should have been done in such a way that you see the value in me.  That value and hopefully personal connection we have made is a very powerful thing and can undo most stats.  Consider this as an alternative; what if you politely kept in touch over the course of a year without trying to sell me anything?  Think about it, you politely keep in touch with this nice person who is already a customer.  By doing this you can hopefully bring additional value and maybe a smile therefore keeping the door open for me to buy something else.  Any way you look at it, me buying something from you is way better than you selling something to me.  Besides, you should have enough people to work with that you do not need to depend on forcing/selling anything to anybody.

On that note, I think asking me to introduce you to friends and family is almost as bad.  Why?

Quit being lazy!!!  Bring value and participate in Social Media!!!

That’s right, I think you asking for referrals, many times, is simply lazy.  I also lump it right in with interruption/spam marketing if you are asking me for referrals when I am calling for some other reason.  Some thoughts;

  • Just like me buying from you, isn’t it better when I proactively share you with friends?  How can you make this easy for me?
  • Is paying for referrals really a good idea
  • If I am only referring you someone so I can enter a contest, is it really a referral?
  • Are you even referable?  Think about it.
  • Really, if we were missing in person do you still think putting a notepad and pen in front of me is a good idea?  **Please say no***

It’s only fair to present some alternatives;

  • Where are we connected on-line?  Hopefully where I am comfortable.  P.S.  do you really think I am sharing canned insurance articles
  • I am not at all opposed to saying thanks with a gift or money.  I hope you are not either.  But should I be offering you money in exchange for your friends contact info?  Do you like it when your email is sold to random vendors?  Do you like it when you are added to a newsletter list without opting in?
  • Seriously, ” you can enter our contest for a t.v. if you refer us to a friend….”  Come on.  Keep selling on price as well and let me know how that works out.   leads us to the next one
  • Be referable.  Seriously, I’ve been thanked several times for referring one person to another and a part of my response is always, ” no problem, thanks for being easy to refer…”
  • Still  one of my favorite “techniques” and still one I have nor will never use.  Try the digital version of this and become a connection on Linkedin.  All of their connections will see it.  How about you like/share something of theirs on Facebook and see what happens.  Even better, how about you proactively refer them in some way or bring other value

Anyway, just some thoughts.  Thanks for letting me share.  Do whatever you think works for you but remember, the world has adjusted and much of what used to “work” doesn’t.

Never end the referral loop

Here is what referrals would look like if they were a “symbol”;

Thanks Charles Petzold

Pretty simple, where the intersection takes place is the referral/sharing moment.  The idea being that the referral takes place and the Referrer and the Referee continue on the path and eventual pass and receive another  referral.  Reality is in perfection it is more like this;

thanks Etsy person.

A continually growing chain of infinity symbols that interlock with one another therefore allowing a continual stream of referrals and sharing to take place.  If at some point you choose to cut the loop you hinder the ability to give and  subsequently receive referrals in the future.  Why would you want to do that?  No idea.

Keep the chain going.  Keep sharing.

 

What do you look for in a college?

I was at a light behind a car with a big sticker announcing that they were an Alum of New York University.  Pretty regular, unremarkable thing to see.  But I am wondering, what does and what should someone be looking for when you look at a college?

My initial thought is check in with the alumni office first with the career/guidance office a close second or even in a tie for first.   Even if you do not know what you want to study the reality is these two places could be the best tools any college has to offer.  I appreciate the fact that the name on some pieces of paper carriers more prestige than others but the reality is it is a piece of paper.  You can read all the books you want but if you do not do anything with the information it isn’t really knowledge.

If you do have a major it probably makes a ton of sense to then check in on the professors in whatever department you are looking at.  Do they actually have experience beyond the campus or are they just teaching courses?  Have they had a career and now are teaching or did they just keep going to school without actually applying any of the “knowledge” they gained.

**Disclosure, I did drop out of an MBA program when I realized what was being taught was not how the information/concept was actually used.**

I am sure that there are some highly specialized curriculum programs for pretty specific majors throughout the college landscape.  I am also sure there are lots of people with highly specialized degrees who are either unemployed or working in a different field that would not have required a degree.  No sense in being that person.

Does my college have a solid alumni network? See there events calendar, LinkedIn, Facebook groups.

Does the career office regularly bring in outsiders to talk?

Do they regularly do job fairs where not only do you get to meet prospective employers but you also see a wide spectrum of companies?

Have you met other Alumni who can give a testimonial about the school and programs beyond things like “it’s a great place to go to school,” and ” You’ll have a lot of fun….”

Either way, just a thought.

Overseed the lawn let it grow then weed it..

I suggest always starting from a genuine position.  Preferably a position that makes you want to help others and be a solid resource for everyone you know.

So over the last several years I have taught myself a lot about LinkedIn.  It started about four years ago as a way to make sure I am keeping in touch with people.  It has grown into a very useful tool for not only keeping a rolodex somewhat organized but also has allowed me to become more valuable for the people I value.  The following is a little experiment I had done once before and just did again.  It worked well the first time, I learned some lessons and here you go;

12/28/13 about 6 a.m. I invited everyone I could to “LinkIn” with me.  Now on the surface some people would think this is spam but if you look beneath you realize on some level, some deeper than others, I have had contact with all the people I invited.  Many were people I knew on some level we just never “Linked”

Now the starting point was 804 connections.  Within  24 hours I was at 923 .  This is a 14%+ increase in contacts and is almost a 6% return on the invitations sent.  Really solid numbers.  BUT remember this really just makes me more potentially valuable to the people that hire me, choose to work with me and see me as a resource.  41 of these new 119 actually looked at my profile, not sure where the value is in that  stat.

Now is is a full 5 days later.  5 weird days on the calendar considering a weekend between Christmas and New Years, New Years eve and New Years Day and that much of the world is semi hibernating.  Now the number is 1020.  A solid 10% return on invitations and 25% increase in contacts.

But where is the value in this?

  • In theory I am more valuable to my contacts because I have more contacts.
  • I have shown up in 216 new feeds which have potentially been seen by 26,000+ people.
  • LinkedIn’s software now presents new opportunities based on who is in my network.
  • Anytime I put something out the odds are higher that my “buyer” will see it, better yet a new buyer.
  • Etc.

Well now what? Here are some tips I share when the opportunity arises.  Reality is if you make the people around you better you’ll become better.

1. make your profile as complete as possible.  Be human.  Keywords help, especially colleges and location.  Also, somewhere in your profile simply write your last name as it is commonly misspelled.
2. I love the LinkedIn phone app.  Fun experiment was letting it invite all my phone contacts.  I liken this to over seeding a lawn.  You’ll get some goofy grass but you can always…
3. Weed the garden.  I know everyone I am connected to.  Some better than others but I do not connect with everyone I meet.  Why?  I want to be able to refer/introduce these people to others.  BUT for the sake of the above experiment I went a little beyond my usual.  No worries though, I had many great things happen when a month or so after “seeding” I go back and start weeding the garden.
4. 10 minutes a day; Linkedin tells you who has updates and who has anniversaries.  Likeing a status is quick and puts your face in front of that persons  contacts.  When taking the congratulations route.  Write a full sentence.  So easy to personalize and stand out.  Scroll through your updates and pick one or two to comment on.  It is quick and really effective. ** Please read the first two sentences of this post again**
5. PHOTOS  Get a solid head shot.   Personally prefer a basic head shot.  What an awesome missed opportunity for most people.
Thanks for considering.

Keeping the circle going

How many people do you spend money with that spend money with you?

How often do you CHOOSE to spend locally when an Internet or national chain option are available?

Now I am by no means perfect but I take the fact that I am a local business very seriously.  I have a massive amount of gratitude for those people that choose to spend money with me and therefore enhance the lives of my family.  So what else can I do?  Well for me it comes down to a couple of basic things;

  • If you have resources why wouldn’t you share them?
  • I can make my “network” stronger by introducing the various members than I can by making it bigger just to be bigger. BTW if your network is stronger so will be your business, your relationships and your bank account.
  • maxing out the effectiveness of my dollars and time
  • Because you never know

Now I really try not to over think it, not much different than “What does your agent do for you” .  It took a while to develop but once it does it is just so easy and feels really good so why not *it is really good for business as well*  Here are two things I did this week;

Months ago, a good client introduced me to a new client of hers(see it is easy and good for everyone).  Fortunately they trusted me to set up some insurance for their new business.  This week their company, Georgie Porgie went live!  So you could find out and do nothing or you can give them 10 minutes and post their link on your Facebook and Twitter and buy something from them.  Not a lot of effort but compound that and the results can be massive. Seriously Why Wouldn’t you do this? They chose to spend money with you, they are nice people, they are local, etc.  What else do you need?  By the way, the person that made the intro is a friend and is really good at what she does, yes I make introductions of friends to her whenever possible.  Easy, right?

Another instance, same idea; I was having a contractor do some work at a little rental my family owns.  Yes, I happen to provide his insurance so again; why wouldn’t you spend money with the people that spend money with you?  He is also really good.  So he was coming over so I was going to be home anyhow, figured I would call on an HVAC/Plumber I also insure.  Now it gets good.

How do you maximize what your dollars can do?

Well I was having my pipes cleaned out anyhow and I was having some work done at the rental anyhow(they are across the street) so I figured let’s try and max this out.  I like them both, I trust them both and they both spend money with me so why not introduce them to each other?  Now two skilled tradesman who never new each other  know each other, my tub drains way better 🙂 and some windows have molding.  Not bad.  What happens now is up to them.

How many opportunities like this can you create for your customers?

Start from a genuine place of wanting to share, apply some effort and watch what happens.  Why not?

Again, just some thoughts.  Do with them what you want?

 

What does your agent do for you?

So in theory what do they actually do for you?

  1. help explain insurance terms
  2. help lower your rates
  3. help keep your rates level
  4. help filter through a claim

EXPECT MORE 

This is YOUR partner, you are exchanging money for promises of good service if something should go wrong.  Well the “going wrong” doesn’t happen very often so what can they do in the meantime?

  1. help you by being a resource for ALL things insurance related
  2. make introductions to other professionals
  3. help you grow your business by hiring you
  4. follow you on twitter
  5. like you on Facebook
  6. donate to your cause

The list can go on for days.  Bottom line is EXPECT MORE from your agent.  Don’t just hire the “Smith Agency” make a partnership with the agent.  Make it mutually beneficial beyond just a transaction.  On some level be friends.

Just some thoughts.

Lessons in business brought to you by death

**Going off topic, will be going a bit personal and not talking much insurance**

So it has been the worst four week stretch in my life.  Started with the sudden death of my older brother followed by four weeks of floundering about.   I am finding that the floundering about, trying to get back to full speed part to be especially annoying and difficult.   Normally there is an article, book or mindset I can apply but none of what I know seems to be working.  Either way, you must keep moving forward.

Since I would prefer you never have to learn or have the experiences that death created for me let me share some with you.

1. Totally think that when at a wake some solid eye contact and a hug/handshake/pat on the shoulder is way better than saying “So sorry…” or “How are you..”  Just like when doing business or closing a sale sometimes saying nothing is best.

2. Despite how many people contact you, write about you, show up to pay their respects, etc there are always more people out there that have no idea who you are.    This is a big world, it is great when the world shrinks for a moment but remember it is a big world, make the most of your little piece of it.

3. It is absolutely true that in times of adversity you will see true character emerge.  Scary to think how many people just float about life completely self absorbed.  Never forget that more times than not you have no idea what is going on in another persons life.  Sometimes by design sometimes because there is no reason to know but that does not excuse you from acting like a decent human being.  ** Thinking of Adam Sandler and Steve Buscemi’s conversation in Billy Madison**

4. Why wait till tomorrow? I have no idea.  There have been some very deep things written towards me and I have also been involved in some very personal conversations.  Despite how positive the messages are they all hurt.  The ones that hurt especially bad are the ones filled with regret of not saying something or meeting him or clearing up some bad feelings.  That sticks with you.  Stop waiting.

5. Having a to do list, goals, a written plan, etc.  was about the only thing that kept working.  When your brain is working or when it is mush a written plan is a huge help.

6. As amazing as it is to see a network/tribe/group of people pay homage to one of their own post-mortem it presents a new challenge.  How can you maximize your network when death or sickness is not involved?  Not sure but I will actively be trying to figure this out.  In the meantime, it means a lot to have good wishes, e-mails, contributions to a memorial, flowers, etc. sent to a family. Actually beyond words at this point BUT I cannot help but wonder how many people said these things to him before he died.  I suppose the other challenge is really appreciating everything while you have it.

7. Yet to find anyone that talked about all my brother owned instead everything is about what he did.  Quite honestly it isn’t much but boy did he have a ton of experiences.  Best I can tell is he plowed whatever he had into living life.  Memories are the best souvenirs.

8. Do whatever you can to fill your “good will” account as much as your bank account.  You have no idea how helpful it has been to have built up  my personal good will account.  I did not do it to be repaid but since I have made many withdrawals in the last month I gotta tell you how glad I am to have a pretty hefty balance available.

Well I suppose I can keep writing but this will do for now.  I would expect to get back to talking insurance soon.  I suppose tip nine is;

A good brain dump feels good.