Millennials, the generation born between 1980-2000, recently passed the Baby Boomers as the most populous generation in the U.S. As Baby Boomers move into retirement, the Millennial generation represents a profitable, but underserved market for individual disability income sales. Use these marketing tips to build DI sales with these up and coming young guns:
- Cut to the chase. Millennials as a whole are not interested in a sales pitch. They live in a world with only a couple of speeds and they are all variations of “FAST.” Make your point quickly. They want the facts, and they want to know exactly how to mitigate the risk and what to expect.
- They trust infomation from their peers. In fact, 70 percent of millennial consumers place peer reviews and recommendations above professionally written content. Referrals from their peers will get you in the door. Grateful clients, who are about the same age, providing testimonials about you and your DI products on your website or Facebook pages will help you gain DI sales traction with this generation.
- They are connected, and want information to be fast, easy, and accessible on all their devices. On-line quotes, applications, and communication is their preferred method of operating.
- They manage their money carefully because they entered the workforce at a time the economy was incredibly weak, and they carry heavy student loan debt. This works in your favor. Disability income is a way to protect their paycheck in the event of unforseen disabling illness or injury, offering peace of mind. Working with Source Brokerage, Inc’s disability income specialists, we can help you tailor the disability income plan to meet the unique needs of your Millennial clients.
- Millennials want to be heard, and they respond to people whom they feel are genuine and have their best interests at heart. It pays not to rush them to a decision but listen and present solutions that respond to the information they shared. Present the facts and ask open-ended questions that highlight the need to protect their paycheck.
- This generation does not have the strong brand loyalty of Baby Boomers. The Millennial consumer profile is built on convenience, flexibility, and price sensitivity. Working with Source Brokerage, Inc. you gain access to multiple carriers, a variety of disability income products, and special discounts available exclusively to our brokers.
Learn more about targeting Millennials in this Infographic.
For more disability income tips and sales ideas for Millennials, contact Steve Crowe at ext. 222, Ellen Crowe at ext. 223 or Brian Hettmansberger at ext. 230 Chris Bussey at ext. 220 or request a quote.