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Amy Lynch

Generations Expert + Idea Warrior + Entrepreneur

Dear Agent: 5 Ways to Win My Business and 5 Sure Ways to Lose It. Sincerely, Millennials

We interviewed Millennials about buying investments and insurance. Here’s what they said:

5 Ways to Win My Business

1. Approach me through my parents. That’s OK by me so long as you have a product I need. I’ll still research the competition, but my parents’ recommendation means a lot.

2. Let me do this online. I want an easy-to-use online portal with 24/7 live chat support. If we never talk face to face, that’s OK. If we need to meet, try a coffee house or someplace more casual than your office.

3. Be transparent about how your products work. Remember that I'm new when it comes to insurance or investment, and that I’m impressed by honesty.

Tell me what incentives agents have. I want to know what kind of profit the company takes. Give me non-biased, third party articles about the company.

4. Show show me the fit.  Apply your product to my specific circumstances. Play out examples for me—if I have a kid, if I live at home, if I start a business, if I have an accident, whatever. I want a simple, honest value proposition, costs vs benefits.

5. Be local. Show me what your agency does for the community. I expect your business to make the world a better place. Showcase that on social media, and offer me and other clients opportunities to volunteer or support your good work.


5 Ways to Lose Me Fast

1. Focus on retirement. Talk retirement up front and I’m out of here. Start where I am—paying off debt, planning to marry, renting, buying a dog or thinking about buying a house.

2. Make me call you. Calling someone on the phone is a turnoff. Text me, or use email. I like chat support better than phone calls.

3. Pressure me. I am SOs turned off by high-pressure sales. Don’t go doomsday on me with the bad stuff that might happen, and don’t try to upsell me. Just talk to me. And forget forced referrals. That will send me running.  If I like your service, I’ll refer you to friends when and if they need your products.

4. Surprise me with hidden fees. This is a big one. Make sure you explain every single cost up front.

5. Be fake or blah. I want to do business with somebody who’s real and interesting. If I look at you online and just see another suit and tie, I’ll click to somebody else. Share your personality and your passions on social media so I can feel like I know you, the real you.

In the end, It's mostly about being in the moment with me. I take instant information for granted, so I may shoot you quick questions anytime. If I text you’re a question about savings, credit cards or budgets – about basically anything—stop and address that question. Don’t put me off with talk about a long-range plan by by trying to schedule a sit-down. Just give me the essential facts, do your disclaimer and give me your best (brief) answer.

Trust those digital moments. For me, they add up to a relationship with you long before we ever meet in person.

With thanks to primo go-to Millennial sources: Austin Hawkins, Cash Forshee, Carolina Palacios, Liam Nilwen, Jay Cleveland, Nathan Ruff and, as always, Saro. 

Amy Lynch works with companies that want to harness of the power of Generational Intelligence to market, innovate and lead. She has spoken to 100s of groups from MTV to Liberty Mutual, Fidelity Investments, Boeing and the staff of the U.S. Senate. www.GenerationalEdge.com


Posted by Amy Lynch at 07:00
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