People buy many things – insurance prominent among them – based on emotion. So why are so many financial presentations laden with information that leads to a logical conclusion? Simple. Numbers make sense to advisors.
Numbers tell a story. Which is true enough. But do they tell the story seniors need to hear in order to purchase an annuity or long term care insurance? Probably not.
Financial presentations need to tell the kinds of stories that do get seniors to protect their future.
"People buy on emotion, not logic," says Bob Hall, owner of Asset Protection Planners, with offices in Scottsdale, Ariz., and Carlsbad, Calif.
That's why Hall, who holds seminars on a regular basis, makes sure his presentation paints an emotional picture and gives his prospects the logic they need to back up that emotional decision. He makes sure personal stories are built into his information-packed (read: non-sales) presentation; he calls the stories extraordinarily important.
"If I tell them it's important, that's not as impactful as a story of a client who benefitted," Hall says.
In fact, his centerpiece story involves a client who hasn't even benefitted yet. Hall shows a PowerPoint slide that features a check written for $160 – the monthly premium payment from one of his clients. He tells the audience his client has been writing that check for 12 years. She's paid $14,000 so far and hasn't had to use the policy yet. Hall asked her once why she feels the ongoing payments are worth it. She told him this: She has a good friend who went to a long term care facility. And?
The next slide shows a check written for $44,000.
"That," Hall tells his audience, "is my client's friend's cost for one year in the facility."
The story drives home a point about the relative cost of a LTCI policy, and Hall uses technology to deliver it. But he knows technology is best used in moderation, especially with seniors, and he also knows one thing experts like Stephanie Scotti recommend when it comes to presentations. "Every type of media support should have just one goal," she says, "To help your audience more easily 'get' your message."