3 ways to improve connections with millennials

No generation can be summarized with labels. There are stereotypes, and there are realities.

That said, there is plenty of reason to note the different ways millennials communicate, at least in terms of technology, and how advisors are adapting to that. In particular, Marcia Annmarie Richards, an 18-year MDRT member from Kingston, Jamaica, has recognized that there are gaps in her communication with these younger clients. As a result, she has spoken to prospects in their mid-20s who expressed interest in buying from her, only to then buy from someone else. “Oh, I didn’t even remember saying that I would work with you,” the prospects said, not seeing the change of plan as a big deal.

In some other cases, younger clients will be quick to surrender their policies if it means a shorter-term benefit, such as taking advantage of a policy’s investment elements to get a new car.

Here are three ways Richards, who mostly works with people older than 40 on life insurance, retirement income and critical illness coverage, is adapting to prevent younger clients and prospects from unexpectedly backing away from her and/or their policies:

1. Learn how they prefer to communicate. This is a simple but important one. Richards knows she cannot expect younger clients to automatically operate the same way as older clients, and therefore strives to enhance how she communicates with younger clients in terms of email or text rather than phone calls.
2. Establish appropriate icebreakers. Just as the “how” changes in communication, the “what” will do. Richards makes sure to take note of what clients are wearing or discuss something about technology or anything else that might interest them. It is all part of working with the client as an individual.
3. Keep the dialogue going. Rather than experience another situation where a prospect shrugs off the difference between what they said they would do vs. what they did, Richards encourages people to remember to call her if anything changes. Also, she emphasizes the need to purchase insurance while you’re young and healthy, especially because of how many young people she encounters with stressful jobs and fast-food eating habits, both of which have led to diabetes and hypertension and more difficulty getting coverage.

Read more in 10 reasons millennials want to work with you.