Cold Call Script For Annuities - Feedback Requested

[moonlightandmargaritas]

Charles, it's not the script.

You have a flawed strategy. With the DNC, and high proportion of answering devices in play, you're just not going to talk with enough people. When the strategy is bad, the tactics don't matter...

There is a guy in New Mexico on another thread. He likes to sell annuities too. He did some seminars, cost him like $7,000, but he wrote 35K in commissions from it - pretty profitable.

 

[jerry176]

Let me ask you a questions....Yikes

Walk into 20 business.

1.....Introduce yourself then say

2.........I show people how to "not out live their money".

3.......Would you like more information, it takes 10 for 15 minutes to see if it makes sense for you.

4......What day are you available.

I bet you will make 2 appointments.....

It will take 2 hrs of walking.

 

[Justin Bilyj]

I don't like the script Chuck,
Don't tell them what you work with, tell them what you do for seniors,

taken from another lifepro article....
For the annuity prospect:
“Do you want to run out of money before you run out of time, or do you want to create a plan that will provide income to you for as long as you live?”

Gregory B. Gagne, ChFC: The message we bring is one of prospect self-reflection. Allow the prospect to pick the answer. We think the answer is obvious, but the prospect may have never given the idea any thought before you bring it to their attention.

“When does your next CD come due?”

Bobb A. Meckenstock, CLU, M.B.A.: I began asking this question in the 1980s, and still, to this day, it is a great opening question.

• From “The right fit: How to tailor your annuity solutions for each client” producer roundtable

 

[Josh]

Thanks Josh. I really appreciate you taking the time to answer my questions. With the volume of calls I am making, I should consider a dialer. Another question came to mind, I assume your dialer can be programmed to leave a prerecorded message, correct?

I'm a huge believer in dialers if you're making any amount of calls. It's more efficient, easier to track everything, and less work than manually punching the numbers in. That doesn't mean it's right for everyone, but I think it's a no-brainer. Yes, with my dialer you can program it to leave prerecorded messages. I've never seen that be particularly effective, but it is an option.

 

[Justin Bilyj]

When calling Residential, isn't it illegal to leave pre-recorded messages on their machine?
I know you can't robocall but I also heard you can't even leave a pre-recorded message, you can have an agent or caller leave the message themselves...

 

[senior-advisor-indiana]

When calling Residential, isn't it illegal to leave pre-recorded messages on their machine?
I know you can't robocall but I also heard you can't even leave a pre-recorded message, you can have an agent or caller leave the message themselves...

How would they know the message is pre recorded?

 

[charlesj]

First, you guys are all great and I appreciate the feedback.

moonlight - Yes, seminars do work in this business and I would love to do one. Funds are an issue right now as well as seminar preparation and experience. Cold calling is what I have so I need to make it work. Regarding call volumes and contacts made, please help me break the numbers down... I have spent approx 23 hours calling and I have made approx 250 contacts. That is over 10 people per hour. Out of the contacts made, 44 of them (18%), were warm and at least interested in talking to me and getting more information. If I incorporate a dialer into my current equation, based on what everyone claims, my dialing volume should at least double which should mean talking to approx 20 people per hour. Add in an effective pre-recorded message for the answering machines (assuming I can get approval through compliance), and another small percentage of them will call me back. Admittedly, I am new at this but those numbers don't seem that bad to me. You are obviously a veteran in this and I respect your opinion. Any advice on how I may improve would be most appreciated.

jerry - Thank you for idea. You actually got me thinking on a better way to adjust my script.

emptyeternity - Thanks for ideas. Yes, there are regulations regarding leaving pre-recorded messages. I spoke to my principal and we would need to have our compliance department review and approve.

josh - I believe you and everyone else that suggested it is right. With my call volumes, even with dialing as fast as I can, a dialer is a no-brainer. I need to have a discussion with compliance and will be getting back to you.

senior-advisor-indiana - Good point. My only thought is if someone picked up the phone as the message was playing.

 

[TRSecurity]

I have not tried cold calling for annuity sales. I have been interested in your results and process though. Thanks for sharing them. I am learning from you.

I use a variety of methods to get in front of annuity prospects, but telemarketing hasn't been one of them. I'm not saying it isn't a good one. Perhaps you should try cold calling to set an appointment to solve a different problem. If you want to show people the benefits of annuities, you might need to help them with a more pressing issue first and gain some trust as an adviser.

I too see the stats that say "outliving my money" is the number one fear for retirees. But do your prospects wake up thinking "how am I going to prevent myself from running out of money?"? Maybe.

I have found more success addressing these concepts:
- My mom needs long-term care, why isn't Medicare covering it?
- Should I take Social Security at 62? How do I do that?
- I hate taxes. How do I avoid them?
- What do you mean the government makes me touch my IRA?
- What happens to my 401k when I retire?

Find one or two topics and become well-versed in them. Sell that expertise over the phone.

Here's an example - a woman heard me on the radio say that you can claim SS from an Ex-spouse. She had no SS record of her own and her most recent husband had a government pension. But, she was married for 12 years when she was young. I met with her and helped her claim $1,500 a month she didn't know she was entitled to. I didn't get any compensation for helping her with this process.

But, it naturally started an income conversation. She just so happened to be afraid of outliving her money. In this instance I was cross-selling. I first sold myself as an expert to her (at a cost to me), the second sale is where I was compensated.

 

[Hopwood04]

TODAY'S 750 DIAL RESULTS: (New Record!)

501 answering machines (no message left)


Wow great job calling! Do you dial those numbers manually?
If you would have had a dialer that has voicemail drop, you could have left 501 messages. 501 people would have heard your message.

 

[Thad.Sipple]

Great illegal advise.