How to ACTUALLY Increase Your Average Case Size | 7 Figure Annuity Sales Podcast | Ep. 202

On this week's episode, we're going to talk about how I deal with large cases versus small cases.

Hey, everyone. Welcome to this week's episode. I am Chad Owen, the annuity sales coach. I know we're talking about something super exciting today. How. But we first got to address you.

Oh, my God.

Have you heard of something called sunscreen?

And I put it on, but I didn't.

I don't think so. You put butter on your face. That's what happened. Crisco oil, something like that.

It feels like it.

You like fried chicken, so that's probably what you did. You smothered yourself in lard, and then you went out in the sun and you got fried.

You are what you eat.

No, you eat lard.

No, that's. I mean, disgusting. Lard and fat. Yeah. I mean, yeah, eat fat, but not, like, out of the can, like, large spoon, you know, like, it's yogurt of lard.

Okay.

So, yeah, I put sunscreen on, but it. It evidently wasn't enough to last eight hours.

It was, you know, the worst time. My wife was. Went to Arizona to see her grandmother, and I was by myself. So I thought, you know what? It'd be good to go out fishing. So we lived in Las Vegas at the time. I went out to Lake Mead, no shirt on, literally from sun up to sundown. I had burns so bad, blisters everywhere. I actually probably should have went to the doctors or ER because it was.

I guess.

Yeah. Oh, absolutely.

Yeah.

Anytime. A stretch of blister. But, yeah, so bad. So bad. And, yeah, three days, man, I was in misery, so only hurt when I laid down, slept, sat down, whatever. I did have shorts on, so.

Oh, that's good. Well, speaking speaking of fishing and vacations, you're currently on the east coast, traveling about the time that this podcast is airing. Chad is somewhere out on the east coast, somewhere.

D.C. philadelphia, Baltimore, Charlotte, Norfolk.

And I think that we'll end up in New York. That's where we're going to watch Fourth of July this year. So I actually got a hotel overlooking the east river, and it's actually going to be facing the fireworks, and it's going to be pretty cool.

I love it. Yep, I love it.

Fireworks in the sky, fireworks in my marriage.

There you go.

Hey, what good is success, though, if you can't celebrate it with the ones you love?

It's true. And Leilani plays a lot. She plays a big role in the.

Success, so she plays the majority of them.

Awesome.

Well, get started.

Hopefully you're safe Right now, Chad, as we project this out, if not, this.

Video is worth a lot of money because I'm dead. So let's save this the last episode. We're over 200 now.

I've got to be. Yeah, I don't even know.

I don't.

Haven't.

I haven't checked it. Even though I told you to be sure and announce when our 200th episode is. When I know we're over that now. You had one job.

Yeah, yeah, one. Yep. Okay.

Okay.

Okay. So how you respond to large cases versus small cases. Now, this is an interesting topic because I think that the nature of most agents is to probably try to do extra when they have large cases to try to get that deal. And most agents will try to, it seems like to me, try to skate by on the smaller ones.

Just because.

The money's less important to the people that have less money.

Well, and that's what we need to address.

I mean, I don't care they have 10 million or they have a hundred thousand. It's the same process to me. I go through the same fact finders, I go through the same explanation. I go, I have illustrations. I mean, there can be some things more complex in larger cases, but there can also be things more complex in smaller cases. I mean, if you're trying to get someone that has $100,000 to get them to be able to retire comfortably, that can be very, very challenging.

It can be a challenge.

So I, I wouldn't say complexity ever has to do with size of the case.

Sure. You know, it's not a, it's not a perfect correlation at least, right? No, I mean, like if you look at one. So I guess process wise, everything's the exact same.

Everything is exactly the same every single time. No matter what the case that. It's always, I introduce myself, I, I explain who I am, I tell them what I'm going to do. We go through the fact finder, I explain how the products works. It doesn't matter the dollar amount. It's the same. It doesn't matter dollar amount. It doesn't matter the lead source. It's the same process every single time. And that's what I want to tell agents. Because, you know, there's so many agents out there that worry about leads, leads, leads. I mean, that's the number one. Right? That's the number one thing. I want more leads. I want more leads. What if we could take the same number of leads and get you from writing 150 to 450,000, offer the same leads.

I have agents that have never written annuities before that I'll talk to that have sold a lot of Medicare and life insurance and have a, a big book of business on those in those two areas and now want to instead of having a good process by which they can cross sell and actually go back and talk to some of their previous clients and prospects, they want to dump thousands of dollars into annuity specific leads. Because the thought process that they've bought into is that the lead is what determines the success and it's not. So I have conversations.

How did I write 5.7 million off of mortgage protection leads the last year I was in 2008 and that was all off of mortgage protection leads. Now would I go back to mortgage protection leads?

Probably not at this point. I mean if you had to, I imagine you would.

But yeah, I, that would be tough because I mean I think I just cracked over a little over 23 million for the year and that's all annuity specific leads. But I also spend 200,000 plus a year in marketing. If I had to, yes, I would absolutely go back to Medicare. I never was, but I would do Medicare if I had to. I would do mortgage protection, I would do life insurance, I would do long whatever I had to to get in front of the client. And I'm going to balance this out. Obviously if I have a Medicare lead, I'm taking care of the Medicare first. If I'm doing life insurance lead, I'm taking care of the life insurance first. I'm not bait and switch, hook them and you know, try and get them into something that they didn't call me out for. But when I prove that I'm an expert in the life insurance or the long term care or the Medicare, then I can show them, hey, I can help you in other areas as well.

That's true. I will say too that the fact that your process is consistently the same with a client that's putting 100,000 into an annuity or a client that's putting 4 million into different annuities and your process is the same like the way that you explain it, the way that you present it, the way that you talk to them, the way that you treat them, all of that is consistent. It kind of like kind of blows agents minds when they hear that, especially.

The phone call when they doesn't matter. I mean they all need help. And that's the thing, you know, I don't get my emotions any different. I mean you guys have seen me, right? I come in If I have a $500,000 week or I have a $4 million week, I'm still the same. Right? I mean, if it's a $2 million case, I don't sit there and go, oh my gosh, I had a $2 million case. To me it's just as important as the person I just helped with a hundred thousand. I just don't get emotionally attached to other people's money. I don't even get emotionally attached to my own money. So why would you base your process and system based off of how much they are? That's. I actually get a lot of business by this. Hey, there's this guy on TV or the radio, they say if you don't have 500,000, you're not worth anything. You're not important to them. They're not even going to give you the time of day. You know, it's like, what kind of a slap in the face. And even people that have a lot of money, I'll say that as well, go, you know what you do well and you could have pretty much anybody help you. But if it really gets bad, they're going to help the people that they have 10, 15, 20 million with. Instead of helping someone that's 2 million. They're always gonna pick the big fish first when the market starts to fall. And you know, I don't work that way. Yeah, my cell phone is given to every single client that I help, period.

Yeah, yeah. And I think that's one area that blows some agents minds is that your phone scripts, your call process is the exact same regardless of the lead source.

It doesn't matter.

But there are some benefits here. And that's actually one thing that I wrote down was the benefits of having a consistent process. You only need to remember one process. Think about how good you get.

I can do.

Oh yeah, think about how good you can get when you're focused on one thing versus. Oh, wait, was this a. This lead or was this a. Of this client has 250,000. So now I need to do this extra little thing. This one only has 80. So. Okay, I can just do this. It's like that just becomes complicated. You just, you're just spending time spinning your wheels versus just getting good at one thing and using that one thing for everybody. Now I will add one caveat, but it's not based on case size. It's almost always based on needs and complexity of the individual case, which we've already described is not, is not a perfect correlation between large cases and small cases. As far as complexity goes, but where it's needed. One thing that you don't do for everybody, that you will do for some is the full income plan, Right?

Correct. You're talking about if we have to layer. Yeah. So in other words, you're ladder, that's maybe 60 years old. And Social Security kicks in at 62 or 66. Whenever they decide to do that, they have may have pensions that come in at different times. We may need to ladder annuities at different times. In other words, they have more than enough income the first five years, but then five years later they need more income coming in. But there's also something called reverse income where you take, you don't do an increase of income, you do a decrease of debt. So in other words, if they pay off their house in 10 years, they're not going to have part of that mortgage payment anymore. They'll still have taxes and insurance, but. So there's many ways you can do that. But that is generally your larger cases.

It is just because generally they're dealing with more. So that's why we say it's not a perfect correlation between larger cases and complexity. But there is, I guess, a higher percentage of complex cases that are simultaneously large cases.

And I don't treat them any different. Right. I mean, once again, it doesn't matter if we're doing income plan, if we're doing $100,000 case, if we're doing 5 million. I actually just had my first client ever. My largest case before was 4 million is 3.7. Then it's 4 million, which was two years ago. And then I just had a client just put in some more money for their kids. So now we're up to about 5.2 million for the largest client ever. So that's, that's been really nice, but it doesn't matter to me. I mean, if they came back and they said, hey, I want to put another million, I'm going to treat it the same as somebody called me and said, hey, I want to put another 50,000 in right to theirs. It just honestly doesn't matter. It's can. It's. If you start to look at the case size, you start to be influenced about how you're going to interact with the client when you meet with them.

Yeah.

And to me, it doesn't matter. I will treat everybody with the same respect. It's like that old saying, you know, you can tell the character of a person by do you treat the maitre d different than you treat the busboy? Do you Treat the, you know, the janitor the same way you treat the general manager of the hotel. It doesn't matter to me what your position is. I'm going to treat you the same out of respect. That's the same thing. Whether the key size are big or small, it doesn't matter to them. $100,000 is just as big of a deal as 10 million to another person, maybe. Maybe more.

In some cases, it's a bigger deal.

So that's why you just can't do that. You never let yourself be influenced by someone else's financial status. Yeah, I mean, that's just I.

And I see this story of the widow's mind.

Well, of course, yeah. You know, you have the. Seconds count. Pennies count in that story. Why do pennies count? Well, because God mentioned, Jesus mentioned that that lady, that's all she had gave out of her lack where everybody else was given out of their abundance. And then seconds count because that never would have been in the Bible if that wasn't a big deal. So seconds count for the rest of history here on Earth, everybody's gonna hear about that story. And who knows, maybe we'll get up to heaven. And there's that lady right there. Just. Well, this is what I was thinking at that time, you know.

May have storytelling, my grandma might, you know.

But you just, you know, it goes to show you, it's. I mean, do someone treat a homeless person different than a business person in a suit? A lot of times they do. I don't.

Yeah.

You know, they're just as important. So relationships are just important. No matter what their financial status is, the amount of effort you put into someone doesn't matter what their financial status is. You help them. Now, there is a balance there, though.

Yeah.

If they have under 50,000 emergency funds, savings, and 50,000 investable amounts, I don't help them. Not because I don't want to. It's because that's emergency funds.

It should be. Yeah. Pretty well left alone.

Yes, Correct. That needs liquidity.

I think, too, that there's probably a correlation between the way that you view an individual and the case size and the way that you, I guess, treat the deal. So what I mean by that is an agent or an advisor that gets pretty consumed by the case size rather than the fact that it's a human being that needs help, probably is moved more by closing the deal than by helping them get into a better situation.

Yeah. I mean, think about it. How did I treat you when I first met you? I mean, I was like, Everybody else is kidding.

Five minutes after we met, we were wrestling in the pool.

We actually had a bunch of guys in there, and I just started wrestling. I've. Man, I've been around youth ever since I've been an adult. And we just love mentoring and loving on youth and. Yeah, when most guys, they just love to wrestle, that's. That's like, hey, how you doing? Okay. Wrestle. Boom. We're. It's fun.

But, yeah, I agree.

And I gave you a lot of grace and didn't hold you underwater for that long. It might be a little different now. I might hold you under for a little longer.

I think I held you under for a little while.

Oh, my gosh. You never even got my head underwater.

I'm one of the few that have.

You have not. That's because you sucker punch me in the back of the head and you put smelling. What's that, Chlorophyll or whatever over my face. Hey, that's the only way.

You got 12, 13 seconds to get them incapacitated.

That's my old life. Yeah, but it is. You know, just don't. People will know where your heart is by the way you treat them based off of what they have. And even if you don't come out right and say that, they're gonna know that people can feel. Oh, they.

I mean, yeah, we're not. Yeah, we can sense. We can sense intentions and we can sense phonies.

100%. Is that it?

That's it.

Wow. That's it. Okay, guys, well, I appreciate you listening to this episode. Hey, real quick, couple things. Go to YouTube, like, subscribe. Ring the bell. And we have books again. We have my stress and rocking chairs books back. And like I said, they go really quick. We get them in bulk orders. And we just got a bulk order coming. I'm staring at them right now. So go to stressandrockingchurch.com give these books out for your clients. And I'm telling you, watch what happens if you're not part of our training academy. Go to retirement Realized Agents academy. We can help do your training. And you learn literally from everything I'm doing. Hands on. So, okay, have a great day. And of course, happy selling.

Sam.