FE Mailer Results

[Hockeynut]

Several months ago, I had done three FE mailers of 2,000 pieces each. The return rate was only 7.5 per 1,000. With the bad results I would like to try cold calling (by phone) and see what type of results I will get. I wanted to know who else is cold calling and what type of response you are receiving? Also, who have you been using to buy list from?
Thanks.

 

[Mark]

When you say return rate, do you mean how many came back with bad address or sent your card back wanting more info?

 

[Hockeynut]

Mark,

That was the response rate for people looking to receive more information (leads). I spoke with a gentlemen yesterday, who said he would cold call for me at 15% commission with a 75% advance, on sales only. He has over 10 years experience is FE sales but is out on disability right now. He has a predictive dialer (8 lines) and said he could get 3-5 leads a day. The way I see it, I have nothing to loose except time and gas.

He did say he would screen them for bank accounts, find out if their were existing policies, with who, etc. All have to do is give him the criteria I am looking for and he will go to work. He is doing this for two other agents in different area's currently.

I do like the way the numbers came out, based on cost per sale. 3-5 leads daily or lets say 20 weekly = 5 sales @ $400 average is over $2,000 commissions. Cost for the sales is only $300 vs $330 per/1000 for mailers leads with no guarantee on return but averaging 7.5/1000 leads. Using the same closing ratio of 1/4, that's only 2 sales.

I am going to try it out and see how it goes. I would still like to see the mailer return higher as I would like to do a mix of both. I never like all my eggs in one basket.

Thanks

 

[Justin Bilyj]

Make sure hes not reselling the leads!!!

 

[360]

Mark,

That was the response rate for people looking to receive more information (leads). I spoke with a gentlemen yesterday, who said he would cold call for me at 15% commission with a 75% advance, on sales only. He has over 10 years experience is FE sales but is out on disability right now. He has a predictive dialer (8 lines) and said he could get 3-5 leads a day. The way I see it, I have nothing to loose except time and gas.

He did say he would screen them for bank accounts, find out if their were existing policies, with who, etc. All have to do is give him the criteria I am looking for and he will go to work. He is doing this for two other agents in different area's currently.

I do like the way the numbers came out, based on cost per sale. 3-5 leads daily or lets say 20 weekly = 5 sales @ $400 average is over $2,000 commissions. Cost for the sales is only $300 vs $330 per/1000 for mailers leads with no guarantee on return but averaging 7.5/1000 leads. Using the same closing ratio of 1/4, that's only 2 sales.

I am going to try it out and see how it goes. I would still like to see the mailer return higher as I would like to do a mix of both. I never like all my eggs in one basket.

Thanks

I think he's on disability because he's nuts. No one with 10 years of experience is going to generate 20 FE leads for you per week for $225. While yes you have nothing to lose in giving him a try, I sure wouldn't be putting more than one of my eggs in that basket as a primary strategy for generating business.

 

[moonlightandmargaritas]

I would like to try cold calling (by phone) and see what type of results I will get. I wanted to know who else is cold calling and what type of response you are receiving?

There was an agent named Schlomo Glickstein locally here in Tampa Bay that did some extensive cold calling for "FE".

After some frustrating results (unfortunately) one day he ran into traffic on I-275 (near the Howard Ave exit). Very messy, he was splattered across three lanes....even worse, traffic was tied up for hours!

I think he's on disability because he's nuts.

hahahahahaha!

 

[arnguy]

Paul, did Schlomo have FE coverage for himself? BTW we have Amtrak trains that go through the suburban towns at 110 mph----thery really do en effective splatter job.

 

[jody108]

Mark,

That was the response rate for people looking to receive more information (leads). I spoke with a gentlemen yesterday, who said he would cold call for me at 15% commission with a 75% advance, on sales only.

That is way too complicated and doesn't work in the end.

Best to pay them a set rate per appointment and a bonus when a certain amount of appointments are reached.

I've tried it both ways and the commission structure does not work out.

 

[moonlightandmargaritas]

Paul, did Schlomo have FE coverage for himself?

He was highly neurotic arn, ergo very well insured. Tragically, he was but two days away from the end of the suicide/incontestable period, and the only thing in force longer, prior to him becoming the new hood ornament for a Peterbilt tractor, was a smallish, $3,000 "Ed McMahon policy". Grieving widow, but fortunately no children (that he knew of).

 

[Tampa Teddy]

Mark,

That was the response rate for people looking to receive more information (leads). I spoke with a gentlemen yesterday, who said he would cold call for me at 15% commission with a 75% advance, on sales only. He has over 10 years experience is FE sales but is out on disability right now. He has a predictive dialer (8 lines) and said he could get 3-5 leads a day. The way I see it, I have nothing to loose except time and gas.

He did say he would screen them for bank accounts, find out if their were existing policies, with who, etc. All have to do is give him the criteria I am looking for and he will go to work. He is doing this for two other agents in different area's currently.

I do like the way the numbers came out, based on cost per sale. 3-5 leads daily or lets say 20 weekly = 5 sales @ $400 average is over $2,000 commissions. Cost for the sales is only $300 vs $330 per/1000 for mailers leads with no guarantee on return but averaging 7.5/1000 leads. Using the same closing ratio of 1/4, that's only 2 sales.

I am going to try it out and see how it goes. I would still like to see the mailer return higher as I would like to do a mix of both. I never like all my eggs in one basket.

Thanks

Your first mistake was using a mail house that supposedly sends out a 1,000 mailers for $330. You second mistake is thinking that third party, telemarketed leads will be any better.