Engaging prospects based on generational needs

mdrtMDRT recently conducted a study called the Generational Financial Confidence Study. I found the results of the study quite interesting and thought you insurance pros would find value in it as well.

In 2009 MDRT asked financial advisors to share a few effective strategies for closing the sale. The highest ranked response was “build long-term relationships.”

Next, they surveyed different generations to learn what sales strategies might encourage them to take action.

Two primary audiences identified in the study were Boomers and Generation X. Both indicated the same top three sales practices: “offer straightforward advice,” “create sample financial plan” and “goals-based planning”. However, ranked further down the list was “build long-term relationships.”

Insurance professionals and other financial services representatives take heed. Each generation responds differently to a variety of techniques, so make sure you’re engaging your insurance prospects based on what’s most important to them.

To learn more about this survey and also learn how you can better understand generational differences, visit the MDRT Generational Financial Confidence Study conducted by the Boomer Project.

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