Best FE/Final Expense Leads

[TylerDurden9669]

Not to beat a dead horse with this question but I haven't seen this topic addressed in the same fashion elsewhere in the forums: are there any agents who have experienced better quality leads with something other than DM?

When the question is asked "what are the best leads for FE?" are most answers defining best as "most reliable and consistent"(probably DM) or best as in "easiest to close"?

New to the industry and have had two batches of fresh DM leads (60 total) through NAL and picked up some old TV and tele leads from my upline as well. I feel like the old TV leads actually converted better for me than the new DM leads.

I don't know if part of the problem is timing (I had a lot of people tell me to get back to them in January, money tight from the holidays, spouse just lost job due to corona, thought the benefits were free, didn't want to pay for anything, etc) or maybe my sales skills just really suck but DM is rubbing me the wrong way based on the responses and conversion from these first 60 leads. I feel like the wording on the lead card is a really crappy bait and switch setup and the responses I've got seem to confirm this.

With the TV, online, video leads I think the leads are more informed about exactly what they're getting into when they call in or submit their information. The video has presented a problem they have, stirred up their emotions, described life insurance as a product you pay for, and offered it as a solution to the problem they're emotionally responding to.

I'm thinking the video presentations are a lot more direct (no bait and switch, "for _____STATE residents only", federal gobment provides funeral expense benefits that you don't know you qualify for total BS) and therefore the lead is much more well informed. (No need to pathetically explain, what the letter ACTUALLY meant to say Mr. Prospect is that social security only pays.....etc etc)

Of course everyone could always improve at everything, including my sales skills, but all things considered aren't leads that are already aware and conditioned they have to purchase something, have a good idea of what they're seeking to purchase, and more importantly know why they feel the need to purchase your product when they reach out more of a high quality lay-up lead than some elderly person who thinks they're getting access to "free benefits from the government"?

I get the argument that DM requires more effort to find a pen (since that's such a monumentally hard thing to do?"), fill out a card, and walk back to the mailbox to drop the card off (they walk or roll back to their mailbox all the time anyway so 0-points for effort)

Anyone else have lower conversion the last two weeks in December and told to get back to customer in January? I'm just wondering if DM is considered so foundational because you can consistently get a higher number of phone numbers and addresses to call and visit but if you had the option would you prefer a larger number of leads coming from sources that have seen a video presentation either through TV or online?

Appreciate any feedback and thanks for coming to my TED Talk.....

 

[Newby]

The reason direct mail is considered the best is because you can get leads weekly of tighter age ranges 55-79 and lower incomes under $40,000 and in tighter clusters for less windshield time. Other than that any lead that gets you in the home has done it’s job.

if you look at the leads you worked toss out any that were over 79 years old (those are free on our system), toss out any under age 55 (also free), toss out any blank cards (free) and make sure you did not mail to anyone making over $40,000 annually. Now how many were left? Did you call them and set appointments for 1-day out. Did you do a proven presentation taught to you by a KNOWN high producer? Or like most of us in the beginning did you talk WAY too much?

I’ve worked with every type of lead out there over 23+ years. They all will work to a point. But direct mail is by far the most consistent at getting you in front of the right people for FE. I’m sure if you can drive enough organic traffic through click funnels to your website that works too. But how many agents can really do that constantly week after week. I don’t know anyone doing that on a local level and selling face to face with them.

But the best lead? I run a print ad lead that I have run in a senior shopper paper for 8- years consistently. It costs me $350 per month. It generates one lead per month. It’s always someone ready to buy. So that’s the best one I have. Can’t make a good living at that volume though.

 

[theinsuranceman]

Not to beat a dead horse with this question but I haven't seen this topic addressed in the same fashion elsewhere in the forums: are there any agents who have experienced better quality leads with something other than DM?

When the question is asked "what are the best leads for FE?" are most answers defining best as "most reliable and consistent"(probably DM) or best as in "easiest to close"?

New to the industry and have had two batches of fresh DM leads (60 total) through NAL and picked up some old TV and tele leads from my upline as well. I feel like the old TV leads actually converted better for me than the new DM leads.

I don't know if part of the problem is timing (I had a lot of people tell me to get back to them in January, money tight from the holidays, spouse just lost job due to corona, thought the benefits were free, didn't want to pay for anything, etc) or maybe my sales skills just really suck but DM is rubbing me the wrong way based on the responses and conversion from these first 60 leads. I feel like the wording on the lead card is a really crappy bait and switch setup and the responses I've got seem to confirm this.

With the TV, online, video leads I think the leads are more informed about exactly what they're getting into when they call in or submit their information. The video has presented a problem they have, stirred up their emotions, described life insurance as a product you pay for, and offered it as a solution to the problem they're emotionally responding to.

I'm thinking the video presentations are a lot more direct (no bait and switch, "for _____STATE residents only", federal gobment provides funeral expense benefits that you don't know you qualify for total BS) and therefore the lead is much more well informed. (No need to pathetically explain, what the letter ACTUALLY meant to say Mr. Prospect is that social security only pays.....etc etc)

Of course everyone could always improve at everything, including my sales skills, but all things considered aren't leads that are already aware and conditioned they have to purchase something, have a good idea of what they're seeking to purchase, and more importantly know why they feel the need to purchase your product when they reach out more of a high quality lay-up lead than some elderly person who thinks they're getting access to "free benefits from the government"?

I get the argument that DM requires more effort to find a pen (since that's such a monumentally hard thing to do?"), fill out a card, and walk back to the mailbox to drop the card off (they walk or roll back to their mailbox all the time anyway so 0-points for effort)

Anyone else have lower conversion the last two weeks in December and told to get back to customer in January? I'm just wondering if DM is considered so foundational because you can consistently get a higher number of phone numbers and addresses to call and visit but if you had the option would you prefer a larger number of leads coming from sources that have seen a video presentation either through TV or online?

Appreciate any feedback and thanks for coming to my TED Talk.....

I agree with Newby in that DM leads are the best leads for face 2 face agents. You can target your ideal market very tightly and we usually get 15-20 DM leads in the same zip code each week. You do need a little skill in knowing how to talk to the leads. Your upline should be able to train you.

But for closing %, degree of interest, and high intent, the TV leads are unbeatable, period. Live transfer TV leads are even better as you eliminate the wasted time of outbound dialing before you catch up with a lead (just to hear "no" 3 out of every 4 contacts).

Live transfers means a larger % of your work week is spent making presentations with no wasted time making phone calls with no one picking up the phone. You're also guaranteed 100% contact with all leads you purchase. You are able to get in more presentations per 40 hour week which means you make more commissions per 40 hour week. Brand new agents seem to have much better success with TV leads than DM leads. But it is harder sometimes to do face 2 face as TV leads are spread out a lot more, not tightly clustered geographically. TV leads are best for FE tele-sales.

Take a look at these 2 links below and form your own opinion. Feel free to call me if you have any questions.

Senior Life Insurance Company Affordable Life Plan TV Commercial, 'Important Message'

 

[tribetime32]

All I will say is this. Not all lead vendors are created equal. When it comes to Direct Mail, I would try to get access to RGI through an IMO - granted you have to have contracts there, but its definitely worth it, especially with many on this forum that have that access. Not only will you get great training and fair comp, but you can count on your target being hit with precision most weeks with their setup.

There's a couple others on the vendor side that do a nice job, but that is definitely where I would start. From experience, I would say you most likely worked a lead that wasn't filtered properly.

At the end of the day, you want people that already have insurance to fill these cards out. Even if they think it's free, I don't mind. Just get good at replacements, there's a ton of Americo, AIL and Lincoln Heritage out there. You can 'upgrade' your clients' situation pretty much every time.

Good luck figuring this thing out! Have a great 2021!

 

[TylerDurden9669]

The reason direct mail is considered the best is because you can get leads weekly of tighter age ranges 55-79 and lower incomes under $40,000 and in tighter clusters for less windshield time. Other than that any lead that gets you in the home has done it’s job.

if you look at the leads you worked toss out any that were over 79 years old (those are free on our system), toss out any under age 55 (also free), toss out any blank cards (free) and make sure you did not mail to anyone making over $40,000 annually. Now how many were left? Did you call them and set appointments for 1-day out. Did you do a proven presentation taught to you by a KNOWN high producer? Or like most of us in the beginning did you talk WAY too much?

I’ve worked with every type of lead out there over 23+ years. They all will work to a point. But direct mail is by far the most consistent at getting you in front of the right people for FE. I’m sure if you can drive enough organic traffic through click funnels to your website that works too. But how many agents can really do that constantly week after week. I don’t know anyone doing that on a local level and selling face to face with them.

But the best lead? I run a print ad lead that I have run in a senior shopper paper for 8- years consistently. It costs me $350 per month. It generates one lead per month. It’s always someone ready to buy. So that’s the best one I have. Can’t make a good living at that volume though.

When you mention your system are you referring to DM, TM, FB, TV? Do you use a third party lead vendor or generate everything in-house?
As for my approach I always try to catch them at the door first so I can show them the form with their chicken scratch on it so they can't act stupid like they have no idea what I'm talking about. If I can't catch them at the door then I start dialing. I tell them I'm only in town for the next two days so I'm available for appointments today or the next 48 hours. If that doesn't work for them I tell them I'll have to call them back next time I'm in the area to reschedule. Artificial scarcity. I'm not sure I talk too much, if anything maybe too little. Some rapport building, find their why, straight into qualifying asking about health history, current medications, birthday, ht, wt, ss#, then provide them a quote for these policies that will benefit their designated loved ones when the time inevitably comes. I'm paraphrasing of course.
Also based on your response it sounds like you're partial to face to face selling, if you wouldn't mind can you share why that is? From my understanding most agents eventually exhaust their local area and need to travel at some point if they want to stick to F2F. My question is why should a new agent get the mindset that F2F is the best or only way when you have the option to cast a wider net to a potentially more targeted and informed lead by selling over the phone? If the two options are eventually needing to travel to continue selling F2F or selling over the phone across multiple states from the comfort of your home or office why travel?

I'm making statements about phone sales and direct mail as if they're fact but they're really just my current understanding. Only reason I'm posting here is to enhance my connection with the realities of this industry through people like yourselves with more experience so again I appreciate your feedback. Don't mean to come across as a know it all or that I'm all in on phone sales and out on DM.

 

[TylerDurden9669]

I agree with Newby in that DM leads are the best leads for face 2 face agents. You can target your ideal market very tightly and we usually get 15-20 DM leads in the same zip code each week. You do need a little skill in knowing how to talk to the leads. Your upline should be able to train you.

But for closing %, degree of interest, and high intent, the TV leads are unbeatable, period. Live transfer TV leads are even better as you eliminate the wasted time of outbound dialing before you catch up with a lead (just to hear "no" 3 out of every 4 contacts).

Live transfers means a larger % of your work week is spent making presentations with no wasted time making phone calls with no one picking up the phone. You're also guaranteed 100% contact with all leads you purchase. You are able to get in more presentations per 40 hour week which means you make more commissions per 40 hour week. Brand new agents seem to have much better success with TV leads than DM leads. But it is harder sometimes to do face 2 face as TV leads are spread out a lot more, not tightly clustered geographically. TV leads are best for FE tele-sales.

Take a look at these 2 links below and form your own opinion. Feel free to call me if you have any questions.

Senior Life Insurance Company Affordable Life Plan TV Commercial, 'Important Message'

It's been pointed out elsewhere in the forums that agents are lucky when they're actually able to get your TV leads since it's all on a first come, first serve basis. Has SL solved that problem either by capping the number of agents taking these leads or investing in more spots to generate sufficient leads to satisfy agent demand? Thanks for your response.

 

[TylerDurden9669]

All I will say is this. Not all lead vendors are created equal. When it comes to Direct Mail, I would try to get access to RGI through an IMO - granted you have to have contracts there, but its definitely worth it, especially with many on this forum that have that access. Not only will you get great training and fair comp, but you can count on your target being hit with precision most weeks with their setup.

There's a couple others on the vendor side that do a nice job, but that is definitely where I would start. From experience, I would say you most likely worked a lead that wasn't filtered properly.

At the end of the day, you want people that already have insurance to fill these cards out. Even if they think it's free, I don't mind. Just get good at replacements, there's a ton of Americo, AIL and Lincoln Heritage out there. You can 'upgrade' your clients' situation pretty much every time.

Good luck figuring this thing out! Have a great 2021!

Thank you for your response. I've noticed RGI has a solid reputation here. I've reached out to them and they tell me they're working on getting a program ready for individual agents set to roll out in 2021. Not that I'm sitting on the sidelines in the meantime, I'm happy to get with an IMO and see the value in training and mentorship. Would you mind sharing the wording from RGI DM lead sheets? Is it more direct and less misleading than the usual bait and switch DM templates being used by other vendors or is the allure with them strictly about their promise that you're the only agent they give your leads to?

Also, what do you mean by "you most likely worked a lead that wasn't filtered properly."? As in filtered by an appointment setter/calling ahead? (As I mentioned I'm visiting them at the door first and only call when I haven't found anyone home.) Or filtered properly based on the language and transparency of the lead card itself?

I could see the value in preferring replacement leads. They've already convinced themselves of the need for the product and have taken the most important step by actually investing their money. A logical follow-up question then is why not word your lead cards to that specific audience? "Exciting new programs offer more coverage for less" "Get a free quote to save money on your existing life insurance policy"...etc etc you get my point.

Again, could just be my naivete but I get the impression agents are focused on cost per lead which is completely redundant in my opinion. If you view this as a business then the more relevant metric is cost per acquisition. Personally I'd rather pay $100 or $150/lead if it was an easier sale and conversions were closer to 60%. That would be about $166-$250/per sale which is ballpark equivalent to the cost/sale of DM. The difference is I spend more of my valuable time actually selling instead of wasting my breath on tire kickers, deadbeats, and people who are understandably confused or mislead by the BS wording of typical DM leads.

As always appreciate any feedback and insight you're willing to share.
Hope you have a prosperous 2021!

 

[DonP]

You obviously have a misconception about this business and leads . The lead is irrelevant for all intents purposes . Wether a lead lead says “life insurance” or says final expense plans is irrelevant. They don’t recall what it said outside something about funerals and it’s possibly something from the state . But most have filled the cards out 20 times . The only thing you should care about is they took the time to fill it out and mail it . I sure know when I mailed something as it takes effort . The lead gives you a reason to be at their house . If they say I have ins great . Your only their to get them the info they wanted . Takes 5 mins can we sit right there ? Your job is to get in the house . Your looking for a lead that says “ I want an insurance agent to call me “. It doesn’t exist . If the lead were straight forward it would cost $250 a lead .

 

[rousemark]

All I will say is this. Not all lead vendors are created equal. When it comes to Direct Mail, I would try to get access to RGI through an IMO - granted you have to have contracts there, but its definitely worth it, especially with many on this forum that have that access. Not only will you get great training and fair comp, but you can count on your target being hit with precision most weeks with their setup.

There's a couple others on the vendor side that do a nice job, but that is definitely where I would start. From experience, I would say you most likely worked a lead that wasn't filtered properly.

At the end of the day, you want people that already have insurance to fill these cards out. Even if they think it's free, I don't mind. Just get good at replacements, there's a ton of Americo, AIL and Lincoln Heritage out there. You can 'upgrade' your clients' situation pretty much every time.

Good luck figuring this thing out! Have a great 2021!

What is it about RGI process that makes it stand out from the rest?

 

[DonP]

I think it’s that they have incredible data tracking . I’m told they keep track of all the people who return mailers over the yrs and remail them constantly thus they get a higher return rate . My friend confirms this has he said out of every 20 leads he’ll get 1-3 he sold or saw before .