One key to success is that the bank must produce qualified prospects for the agents to talk to. But what does Larson look for to determine if a bank really knows how to qualify prospects?
"They need to be taught how to do that," Larson answered. "They don't know how to do it to start with. That's why you need to have those demographics I mentioned. And then, you need to overlay on top of those demographics the product opportunities that may present themselves. For example, let's say that the bank looks more like a credit union. That's going to be one class of prospect. Or, if there's a lot of upscale customers, that's another. So the demographics are very important as you try to take a look at to whom you're
And what about the pattern of customer demographics? Is the client base pretty much the same, in most instances?
"No, it really isn't,'' Larson divulged. "Because you can have banks that deal only in retail. And you have those that are both retail and commercial. And then you have those that are a little bit bigger, that may even have a personal banker that gets into trusts and those kinds of things.