- 1,453
I wish I could say that I am. It's a lofty goal, but I do like his ambitious spirit!
Are Your Lead Costs Covered By Your Renewals?
- Thread starter thomasm
- Start date
I wish I could say that I am. It's a lofty goal, but I do like his ambitious spirit!
- 2,632
It would take approximately 3 days to generate 20 leads.
It's super inefficient for an insurance agent to cold call for his own leads because in those three days he could've sold three policies which means he lost about $500 per day.
Now if you were a new agent and you're broke I would recommend working seven days per week for the first six weeks cold call for three days set your appointments for the other three days, meaning cold call Thursday Friday Saturday set your appointment Sunday for Monday Tuesday Wednesday once you start getting paid then buy leads and, that's only if you're super broke.
- 6,994
Funny enough, I started like this. When I first started, I didn't have a lot of start up capital. I was delivering pizzas in the evenings and was saving up, but got ancy and wanted to start selling. So I go a dialer and started dialing. Failed miserably.
I actually posted some audio clips of me calling and a Good Samaritan, to whom I am still indebted to, gave me a simple script to get some leads (he asked me to keep it confidential, so please dont blow up my inbox...I'm not sharing).
I was able to develop about 2 leads an hour. These were not leads that anybody would buy. All these were, were people that were interested in free information basically.
Then when I had developed about 20-25 leads, I went out and door knocked them. Most thought I was just going to be mailing them something. 10x worse than what we hear on the phones with normal leads. But there was some gold there.
I wrote 5 policies my first week in the field, for about $3300 if memory servers me right. The first sale I replaced 2 colonial penn policies for an RNA policy. Actually they were all RNA policies. That was before they decided they didnt want to be in the FE arena.
I used those funds as my start up cash and started buying teleleads right away. Put in my 2 weeks notice at Pizza Hut too.
I did try to continue developing leads and door knocking them, but I couldnt do both in the same week. It only made sense to buy leads at that point. Though that was the best ROI I ever had lol. About 33:1. Plus the time on the dialer.
That was a little over 2 years ago.
My weeks are more streamlined now. I get between 20-40 leads a week. Trying to get it to 30-40 every week. That will be a reality very soon. I work 3 days in the field. Appointments set for 2 days at 10-5 and 1 day at 10-4 every hour on the hour.
I have an appt setter, so other than calling or getting on companies websites, scanning and faxing apps and some follow-up, thats all the hours I put in. I work another 30 hours or so at my church as the Outreach Director.
We talked about this on our conference call this morning, but what other job can you make the same kind of money as doctors, without all the headaches, hours, liability and student loans?
I'm very thankful I got into this gig. And despite the drama, I'm thankful for the training, scripts, presentations and support I receive from FEX. Life is good!
Just curious how you have 21 appts in 3 days and work another 30 hr job and have time to turn your apps in and scrub them plus the tremendous amout of service work?Heck I spend 10 hrs a week on service work from everything from checking apps to saving nsf's. Selling is the easy part.Its a ton of work to keep them on the books.
- 5,261
1) Appointments on the hour.
2) Work FE after the 9-5 job.
3) Work weekends.
4) Scrub and turn in apps on Sunday.
Can be done but requirements constant commitment.
- 6,994
I don't always have 21 appts. I wish I did. That's why I'm trying to up the average lead count/wk. I fax my apps in on Tuesday mornings and Friday mornings during our conference call. I make some service calls during that time on Friday. I have more than one phone
. I make calls for the church on Monday evenings. Not many though. I work at the church all day Tuesday, but I can make calls then too. I visit people that visited the church, go to hospitals etc. so I can make calls as I drive. I'm at the church Wed evenings, some Thursday evenings and Friday afternoons. I do a lot of work there on Saturdays along with more visitation and door knocking. Plus all day Sundays.
Minus Sundays, I can do service work every other day of the week. I don't know that I have 10 hours of service work a week though. My persistency is around 85% with most of my carriers. I call all NSFs and if I can't get it taken care of I will just go and rewrite immediately if I'm still in the area, if not, I will try and rewrite the next time I'm out that way.
Life's busy and I have a little one on the way, so it's about to get busier. Ask me how things are going in a few months lol.
- 4,689
You guys work way too hard. To be in my 30's again I guess.....
By the way, a fresh crop of nubile 21 year old coeds have just checked into my condo complex, so I guess that means more work avoidance.
By the way, a fresh crop of nubile 21 year old coeds have just checked into my condo complex, so I guess that means more work avoidance.
- 25,016
That, that and I wish.
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I hear you. Well if you speak up, I can mostly hear you. Last month I thin I had a week where I had 4 F2F meetings. Had to take the next week off.
- 29,514
Hahaha, haven't watched that in a while. Loved watching those pedos squirm. One time the guy they set up was a Rabbi.
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