Kim Magdalein discusses the success of seminars in the financial planning industry.
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/kim-magdalein-w-magdalein-financial-how-social-security-planners-of-america-helps-advisors-get-clients-with-seminars/
Kim Magdalein began his career in the insurance industry in 1985, following a 15-year stint in the printing industry. After establishing himself in insurance, he took the leap to start his own practice in 2000. Two years later, he partnered with Eric Stratton and his son to build his practice over the next seven years. However, in 2008, he shifted his focus to his seminar marketing company, Seminars for Less. Today, he continues to successfully run Seminars for Less and can be easily reached through phone, email, or his website seminarsforless.com.
The episode delves into the correlation between competence and confidence in sales. When salespeople possess a deep understanding of their product and know what to say, it significantly boosts their confidence. This confidence plays a crucial role in closing sales. While it may not guarantee a 100 percent success rate, it is still far better than approaching sales without competence and confidence.
The host acknowledges the guest’s competence as a significant asset in the industry. Kim emphasizes the importance of accessibility, highlighting that simply waiting for an email response is insufficient, especially when time constraints like attending seminars or appointments are involved.
Another key point discussed in the episode is the importance of credibility in sales. While Mike Saunders recognizes Kim’s efforts in creating a positive image and understanding of his services, he also acknowledges that credibility cannot solely rely on personal claims. The guest emphasizes the value of using software that provides answers to questions clients didn’t even know they had, as it enhances the salesperson’s credibility in the eyes of potential clients.
The episode also touches on the effectiveness of using stories and examples during seminars. Kim mentions the popular saying, “Facts tell, but stories sell.” By presenting real cases and success stories, salespeople can engage the audience and make their message more relatable and convincing.
Furthermore, Kim emphasizes the importance of having a substantial body of work and a track record when it comes to marketing and testing different approaches. He explains that having a track record of past successes makes it easier to make informed decisions and avoid wasting time and resources on strategies that have already proven unsuccessful. He highlights the value of taking notes and learning from previous experiences, as it provides a solid foundation for future endeavors.
Kim said: “Credibility is an issue. When we’re in front of a group of people, you can’t fool them. And when they’re looking at you using software that gives them answers to questions that they didn’t even know they had, then you become very credible in their eyes. So that’s a big game changer.”
About Kim Magdalein
Kim Magdalein entered the insurance industry in 1985. Opening a private practice in 2001, Kim marketed to retirees by means of seminars. He presented to over 800 audiences in the next seven years, producing $150,000,000 in annuity premiums. Kim left his practice to his two sons in 2008, continuing with a seminar marketing company, that he still owns producing over 17,000 seminars across the nation for financial advisors.
Learn More: https://www.seminarsforless.com/