waldo the all star
TRANSCRIPT
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Waldo the All Star!
How to Find, Close, and Get Referrals From Millennials
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Agenda
• Why Marketing to Millennials is important• What is a Millennial?• New Models Selling to Millennials• How do you Find Millennials?• How do you Close Millennials?• How do you Get Referrals from Millennials?
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Generation Definition
A group of individuals, most of whom share the same approximate:
• Age• Ideas • Problems• Attitudes • etc.
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Generations
•Matures: Pre 1944• Baby Boomers: 1944 – 1960• Generation X: 1960 – 1980• Generation Y: 1980 – 2000
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Why It Matters
1. Fortunes at the bottom of the Pyramid2. They will be running all the companies
shortly3. 3 out of 4 Workers in 9 years will by Gen Y4. Gen Y is bigger than Boomers
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Best Gen Y Joke Ever
“Stop Stereotyping Us Millennials” -Huffington Post September 2014 Headline
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Common Names For Waldo
• Millennials• Echo Boom• Gen 9/11• Generation ME• Boomerang Generation• Net Generation• Latch Key Generation• Generation Frustration• Invincibles
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Waldo Statistics
• More people turn 26 each day than turn 65• 39% have Tattoos• 43% of Y’s are non-white• Y’s carry an average of $45,000 in debt• 16.3 Million Y’s are unemployed• 58% of hiring managers have no plans to hire
recent college graduates• 63% of Y’s have a friend that lives at parents home
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Waldo Statistics Cont.
• Most educated generation ever• 87% donated to charity in 2013• 56% wont work for a company that bans social
media• 53% believe online colleges are reputable• 50% don’t believe Social Security• Talk to mom on average 1.5X per day• 50% recommend interesting products to friends• 4 out of 5 Daily Tasks are completed on Cell Phone
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Baby Boomers Experience
• Parents• Size• Vietnam• The difficulty of leaving home and fighting for
everything you got
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Waldo Experience
• Parents• Trophies• Waldo is Tech ___________?• Education• Debt• Job Market
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Generational Differences
Baby Boomers MillennialsSelf Fulfillment FunJourney, Potentials, Searching Already ThereChange the world Follow your dreamsProtests and group sessions Video games and social mediaAbstraction PracticalitySpirituality ThingsPhilosophy of Life Feeling good about yourself
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Billboard #1 Songs
1970 1990 2010
Bridge Over Troubled Water
Hold On Tik Tok
Simon & Garfunkel Wilson Phillips Ke$ha
“I’m on your side when times get rough”
“Don’t ever let anyone step all over you”
“Tick Tock on the clock but the party don’t stop”
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Business Books
Baby Boomers Gen X Millennials
In Search of Excellence Built to Last Start With Why
The 7 Habits The World is Flat Linchpin
E-Myth Revisited Innovator’s Dilemma Fish!
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Commercials
Baby Boomers Gen X Millennials
Change the World Cynical Special
Protest/Peace Disruption Practical
Fun
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Baby Boomer
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Gen X
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Waldo
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What is a Waldo
• Age 16 – 36 +/-• Very Special• Talks to mom a lot• Practical• Needs to see big picture, the “Why”
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Finding Millennials
Your competition isn’t other agents or brokers.
It’s direct sellers through the Internet.
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Strategies For Profits
• Down Market• Lower Cost• Lower Margin• More Customers• New Business Models
$$$$$
$
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New Model
• Use phone and Internet• Simple products• Easy applications• Easy underwriting• Fewer wet signatures• Strategic Partners
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Math
Old Model• Investment Accounts: 2/Week $5,000 GDC• Protection Products: 2/Week $2,000 GDC
New Model• Investment Accounts 10/day $600 GDC• Term Life Policies 10/day $15,000 GDC
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Where Are They?
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The Marketing Challenge
Waldo is Hard to Find• TV, Radio, Newspaper, Yellow Pages, Magazines• Chamber of Commerce, Rotary Club,
Photography Clubs, Masonic Lodges, Churches.• Won’t buy unless they know you (fraud, viruses,
online scams, identity theft, Catfish) .• Everything is checked online (Online reviews are
crucial).
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Keys to FINDING Millennials
Parents!!
• Partners• Fun• Practicality• Love Big Brands
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Keys to Closing Waldo
• Easy if you are referred• Use Technology, not paper• Process has to be easy & practical• Waldo is a Special All Star• Brand
• Experience• Age of staff• Dress• Style• Authentic
• Communication
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Secrets to Communication
• Authentic• Big Picture (Why not What, social impact)• No Long Emails: they only read subject lines• Return texts right away (nights and weekends)• Phone calls (reserved for mom)• Communicate to parents• No US Mail• No Formal texts
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Keys to Waldo’s Referrals
• 649 Connections• Social Networks• Selfies• Text• Short homemade videos
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I’m all grown up! Just got my first life policy!!#CheapandEasy
Insta/LI/Snap/Tweet/Etc.
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Vine Movie
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Never Do This
“Stop Stereotyping Us Millennials” -Huffington Post September 2014 Headline