Cold Calling or Buy Leads?

[VolAgent]

I like the idea of networking and using several methods of marketing. I'll see if I can join local Chamber of Commerce, do some direct mail to Home owners (since I cannot call them due to DNC) and also local networking with the professionals.

Bottom line that I got from here is, buying leads can "work" as well "burn". But I'll give it a try with minimum leads, once I start getting commission from the apps I wrote in last month or so.

Just remember, networking is a very slow process. Odds are, you won't see any results for months, of course you might luck into an immediate case. Also, most networking events are full of guys just like you, salesmen looking for the next sale. Rarely do you see the business owner, and if you do he is often broke. You want to find the events that the owners actually attend.

If you network, find something that will generate some more immediate results as well. That is where your cold calling or buying leads comes into play. Finally, remember that direct mail has at most a 2% response, and usually less. If you send out 1000 mailers, be happy with anything more than 10 response cards.

 

[jerry176]

Walk into 20 to 30 business a day.
Introduce yourself.
Tell them what you do.
Do this everyday.
You will find buyers for whatever you are selling.

"If it was easy everyone would be doing it"

 

[thall]

There is no such thing as an exhausted list, unless they are all clients, even then it's not exhausted. Come up with a generic letter, hand address 20 of these so called exhausted people. Put a stamp on it drop in the mail, you'll get a phone call or two, they may tell you to go to hell, but you're staying in front of them. Cost is less than $10.00 a week. Try this in conjunction with anything else that you come up with. I just believe noone can generate a better lead for me than me. Came up in the business without the option of buying leads, sounds so 3rd partyish.
Because it is!

 

[Commission Ninja]

It's all about designing a marketing plan and following it. The biggest mistake most agents make is changing their marketing efforts each week...

Should you spend everyday cold calling? No...
Should you spend thousands on leads? No...

It's a combination of both. My advice is to take a short and long term approach. Short term approach would be buying leads. Selling to these individuals right away, but you have a high chance of losing them down the road.

Long term approach would be cold calling. But I'm not talking about calling random people to sell some product. I mean strategically focusing in on a target market and going after them with cold calls and mailers.

Just make sure you're whole business isn't reliant on one marketing effort. You should have 3 working at all times.

 

[Ed Sikorsky]

Buying hot, exclusive leads is more productive then cold-calling. Calling on referrals is the best, followed by hot exclusive leads.

Ed Sikorsky,
Big-Payday.com

 

[VolAgent]

Buying hot, exclusive leads is more productive then cold-calling. Calling on referrals is the best, followed by hot exclusive leads.

Ed Sikorsky,
Big-Payday.com

So hot that they are big steaming pile, huh?

 

[YouGotMyMoney]

I think that everyone that has responded here has a lot of valid points, but... We can produce you some mortgage protection leads on a part time basis with no weekly commitment. I personally think leads are a better route since you don't have to spend a lot of time on the phone drumming up some interest/business. Our mail piece mentions "life insurance" 3 times on it, it also mentions mortgage protection ins, disability income ins, ROP plans and additional riders. Maybe the reason a lot of agents get burned is that they purchase leads that are vague or misleading. An informed client that knows what to expect when they fill out their info will be much more welcoming once it's time for the agent to pay them a visit. Just my thoughts... Thanks all.

How is your return on that piece?

I ask because if you just list the insurance products you offer, that's not much of a call to action or an attention grabber, is it?

You don't sell MP ins, you sell the piece of mind that if a husband dies, his wife won't lose the house because the bread winner is dead.

 

[thall]

JRod, you keep saying we, who is we, got a pretty good idea, unless you've got a mouse in your pocket.

 

[SecureHealth1]

When was the last time you purchased ANYTHING from a cold call?
I never have..............

 

[YouGotMyMoney]

What do you call any lead except for a referral?

They are all cold calls, even an internet lead that has 10 agents calling, you have to sell them on why they should not just hang up on you!