Final Ex Leads

[mtgman]

I currently do MTG Protection and do my own marketing.
I would like to sell FE but, what I have read on the forum
is the return rate is low and can be costly.

Mtg protection is about 1 to 1 1/2 percent per thousand.

Do I go with a company like Securus or buy leads from a marketing firm. What would be the avg cost per lead.

 

[The Gimp]

Monumental has a $300/100 mail program. They are using a new piece pulling .8-1.5%. Most firms will run $350-475/1000. I have telemarketed leads for $24 each for contracted agents, which I think is a better deal.

 

[agentexhorter]

I currently do MTG Protection and do my own marketing.
I would like to sell FE but, what I have read on the forum
is the return rate is low and can be costly.

Mtg protection is about 1 to 1 1/2 percent per thousand.

Do I go with a company like Securus or buy leads from a marketing firm. What would be the avg cost per lead.

If i understood you correctly, you are doing your own mortgage protection mailings.

Why not do your own final expense mailings?

Even if you're paying someone to mail the mortgage protection mailings, you could do the same thing with the final expense mailings.

You sound like you're an experienced agent, so you're probably going to be better off getting a higher contract and either buying or generating your own leads.

JDEASY has some good posts on generating your own final expense direct mail leads versus, in his case, contracting with Equita.

Search for his posts to get some ideas.

 

[jdeasy]

If i understood you correctly, you are doing your own mortgage protection mailings.

Why not do your own final expense mailings?

Even if you're paying someone to mail the mortgage protection mailings, you could do the same thing with the final expense mailings.

You sound like you're an experienced agent, so you're probably going to be better off getting a higher contract and either buying or generating your own leads.

JDEASY has some good posts on generating your own final expense direct mail leads versus, in his case, contracting with Equita.

Search for his posts to get some ideas.

Appreciate the props, but in the case of the op he seems to be wanting to add in FE as a sideline.

Nothing wrong with that. Just don't get on a lead program like EFES or Securus to dabble in FE. He could broker with EFES and pay for lead mailers at a discount and get training and have higher contracts. I don't know if Securus has a broker program or not.

As much as I love the EFES system it will not work for a part time FE agent. You would be covered up in lead costs before you knew what happened. For what it seems he wants to do I would recommend to do the mailers himself. Or hook up with a company that will do them at a discount like Monumental or 5 Star.

 

[RonRoberts]

I believe that if someone wants to stay 100% independent and not hook up with an EFES, Securus, or Lincoln Heritage then you have 3 choices:

1. Telemarketed leads @ approx. $24/each
2. Contract out mail drops:
A. Monumental with 1% return
@$30.00/lead but remember if you do not place enough
with Monumental they may cut you out of their mail drop
program, so you may be placing some clients with a
higher priced premium then you could have.
B. Independent 3rd Party mail drops approx. $400 and up.
You can expect an average .8% return @ $50/lead
3. Do you own mail drops:
Bulk mail with business reply permit cost:
Setup: $800 with the post office
Perf/tear/reply mailers approx. $125.00
Outgoing postage - $240
Incoming postage - $12.00/10 which equates to $1.20 reply
cost
Total cost to do your own mailer - $377 so I round this to
$400

Let's say you get a 1% return you are now at $40/each. I am totally ignoring the 1st year setup costs with the post office and the yearly renewal at $365. As you can see doing your own mailers can get very expensive. But, I believe in the long run and spending several thousands of dollars (less than $10,000) you can tweak the mailer and possibly get back 1.2% return or better by different lead in such as Frank's dental plan, or medicare supplements. A 1.2% will give you a lead cost of $33.00/lead.

To sum it up for those of us who are slooooow.

Telemarketed - $24.00
Monumental - $30.00
EFES - JD can answer that
Securus - Different levels but I was quoted $26.00 to "exclusive"
Lincoln Heritage - $24.00 for mail in leads
Your own mailers - $37-$40

Sorry, I forgot to add the costs of the lists. You can ask Josh about this. Lastly, Once you get your own mailers on auto pilot, there will no extra work other than sending your list to the mail house and waiting for the leads to come pouring in....at a rate of .8%-1.2%. I am starting to believe that JD is on to something.

I hope this helps.

Ron

 

[mtgman]

I believe that if someone wants to stay 100% independent and not hook up with an EFES, Securus, or Lincoln Heritage then you have 3 choices:

1. Telemarketed leads @ approx. $24/each
2. Contract out mail drops:
A. Monumental with 1% return
@$30.00/lead but remember if you do not place enough
with Monumental they may cut you out of their mail drop
program, so you may be placing some clients with a
higher priced premium then you could have.
B. Independent 3rd Party mail drops approx. $400 and up.
You can expect an average .8% return @ $50/lead
3. Do you own mail drops:
Bulk mail with business reply permit cost:
Setup: $800 with the post office
Perf/tear/reply mailers approx. $125.00
Outgoing postage - $240
Incoming postage - $12.00/10 which equates to $1.20 reply
cost
Total cost to do your own mailer - $377 so I round this to
$400

Let's say you get a 1% return you are now at $40/each. I am totally ignoring the 1st year setup costs with the post office and the yearly renewal at $365. As you can see doing your own mailers can get very expensive. But, I believe in the long run and spending several thousands of dollars (less than $10,000) you can tweak the mailer and possibly get back 1.2% return or better by different lead in such as Frank's dental plan, or medicare supplements. A 1.2% will give you a lead cost of $33.00/lead.

To sum it up for those of us who are slooooow.

Telemarketed - $24.00
Monumental - $30.00
EFES - JD can answer that
Securus - Different levels but I was quoted $26.00 to "exclusive"
Lincoln Heritage - $24.00 for mail in leads
Your own mailers - $37-$40

Sorry, I forgot to add the costs of the lists. You can ask Josh about this. Lastly, Once you get your own mailers on auto pilot, there will no extra work other than sending your list to the mail house and waiting for the leads to come pouring in....at a rate of .8%-1.2%. I am starting to believe that JD is on to something.

I hope this helps.

Ron

Ron,
I understand the startup cost , because I am doing the direct mailers for Mortgage Protection. What I need is where to get the lists from.

 

[RonRoberts]

mtgman,

I would start with Josh.

Unlimited Dialer for $99/month Plus 500 Free Leads!

 

[rizzle]

Ron..thanks for drafting your post..i found it informative..

 

[RonRoberts]

You are quite welcome. I hope one day to be able to give back to the members of this forum just as much and even more than I have received from all the questions I have had answered. Thank you to all of you.

Ron

 

[Josh]

Fairly certain those don't exist. It's not in the cards.

Agent's aren't willing to pay what it costs to generate a quality telemarketed lead.