Buying Leads for Life Insurance/investment Related Products?

[pcbinsurance]

ASU: You seem like the kind of guy who has the potential for being successful. Your attitude and willingness to be resourceful, by coming to the Forums and asking for advice, is commendable.

If your "mentors" keep saying activity, activity, activity and won't show you how, how, how, it's like you're potentially doing more and spinning your wheels more too.

What they are doing to you is tossing you in the water and forcing you to sink or swim. They are precisely the kind of people who help drive young guys like yourself....out of the business. The stats are overwhelmingly against you if you continue this gerbil wheel.

Narrow your focus and target market and specialize in one area to start. I realize you have your securities licenses but you might want to start out just focusing on young families and helping them protect their home or business. It's a noble profession and always remember, these younger people you target now are potentially your clients for the next 20-40 years. This is how you build your book. You can always cross sell the other stuff later.

Good luck and keep us posted.

 

[asu47]

Narrow your focus and target market and specialize in one area to start. I realize you have your securities licenses but you might want to start out just focusing on young families and helping them protect their home or business. It's a noble profession and always remember, these younger people you target now are potentially your clients for the next 20-40 years. This is how you build your book. You can always cross sell the other stuff later.

Good luck and keep us posted.

Thank you for the words of encouragement. I greatly appreciate it.

PCB I think you nailed it. Focusing on young people in general is what I want to do. I believe by doing this along the lines I am going to run into older clients. Ideally, I want to be that person who starts getting people moving in the right direction, such as getting into the habit of saving, and how to use that saved money efficiently to work for you. I understand my securities license won't make or break me, but I have to say that the stuff I learned is a HUGE help, I can devise a strategy for just about anyone who gives me the chance. A lot of the younger guys in the office don't even understand what suitability is simply because all they know is what the Life and Health test covered.

DHK has recommend to my on other parts of this forum to target homeowners and business owners for short term and long term, respectively. Which has lead me to here seeking the advice on the right way to find them.

He recommended listshack.com for my cold call lists. I have also been bugging my sales manager and his assistant to get me some damn scripts built around our products so I can start calling. Still haven't gotten them a week later. As for buying leads, I kind of did the research on my own about that. I see people claiming they bank off buying leads, and others saying they've never generated a sale. I figured theres good companies who want to grow with you, and others who want you to fall with them.

 

[bill3173]

Focusing on young people in general is what I want to do.

That would be a mistake. The old people have all of the money. You need to take most of the advice that you get and throw it out the window. You have to buy leads and rifle through them like a drunk on payday. In the process you will talk to people that have crappy mutual funds, bank savings accounts with $10K+ at <1%, $100K annuities that are getting ready to term, etc. The fact that you're securities licensed coupled with the right mindset will bring you big $$.

 

[asu47]

Bill I would have to agree that old people have the money, but again this goes back to me looking really young.

I know some of my friends in 2-3 years will be great clients. They will be starting families, getting married, buying homes, and getting promotions. They are smart people and all did pretty well in college, I have faith in them being good clients. Point is, people in their mid 20's wouldn't be a bad area to target in the beginning in my opinion.

So your saying buying leads wouldn't be a bad thing?

If I have to spend $300 to make $800 I'll do it.

 

[WinoBlues]

Bill I would have to agree that old people have the money, but again this goes back to me looking really young.

I know some of my friends in 2-3 years will be great clients. They will be starting families, getting married, buying homes, and getting promotions. They are smart people and all did pretty well in college, I have faith in them being good clients. Point is, people in their mid 20's wouldn't be a bad area to target in the beginning in my opinion.

So your saying buying leads wouldn't be a bad thing?

If I have to spend $300 to make $800 I'll do it.

I am converting, rewriting and adding on plans I wrote 20 plus years ago. These people are very different now than when I wrote them the first time in their 20-30s.

However, you will need volume.

 

[asu47]

I understand volume is key right now, but generating that volume is my issue. I believe I figured out the cold calling lists, but finding a legitimate company to buy leads from is my concern.

 

[WinoBlues]

I understand volume is key right now, but generating that volume is my issue. I believe I figured out the cold calling lists, but finding a legitimate company to buy leads from is my concern.

I can not help you there. I do not buy leads.

Life insurance agent only agent.

 

[cowgoesMoO]

I have been in this business for 3 years and I'm 27. I tried the captive mutual thing and did ok. When Those "mentors" are telling you to get some activity. They mean 100 calls per day. or knock 30 doors per day.

Everyone in this business, especially when they start out, would love to pay 30$ for a WARM prospect that picks up the phone and is willing to meet. But the fact is most of these "lead sources" are garbage and don't produce quality results. (e.g. people that never answer the phone, people that weren't even looking for insurance, and then they limit your returns)

It sounds like you are at a mutual, do you have access to reasonable Final Expense plans? if so, Check into Lee's customized quotes. best lead I've ever used. a little pricey, but you get what you pay for. They are burial insurance leads not term or business owner leads.

 

[asu47]

I don't want the phone to be my only source, but a piece of the marketing wheel. If I started seeing results, I'm pretty sure I'd prefer to dial the phone for 2 hours then go to networking events for an hour where everyone is trying to sell something.

I'm at massmutual btw. I'm already going to buy a list at lists shack. I expressed my concerns one on one with one of these guys and told him I am doing network events and all this ****, but I can't even find quality leads at networking events so far.

He thought the phone wouldn't be a bad idea either, and definitley felt where I was coming from looking young. He agrees I need to find some people in there late 20s early 30s, and a phone might not be a bad place to start. If I can get a few clients in that age bracket I'm banking I get start bouncing around off their referrals.

 

[ltcadviser]

You won't make any money targeting anybody in their 20's and 30's. Be an expert at something Mass Mutual is good at - disability insurance, LTC insurance, etc, and drill down narrow and deep. Target 45-65 year olds. Does not matter what you look like if you know your business inside out and you have quality policies to provide. And you do. Good luck.