Get Paid To Generate LEADS!

[GreenSky]

Please, give me a "good" lead source for Med Supp "leads". I have been looking for eighteen years and I still have not located one.

Frank, as you know, I've done Med Supp DM in the past with a 4+% response. I had an excellent ROI.

There is no lead source that will be as cost effective as picking up the phone and calling or door knocking. That is of course if your time is not better spent doing something else.

If an agent earns $50 an hour selling and can hire someone at $10 an hour to set appointments, then it is not cost effective for the agent to get on the phone. The trick is to find someone at $10 an hour that can actually set appointments.

I pay $45 for internet leads for LTC. I don't get many but thus far my ROI is 15-1. Is it cost effective for me to sit on the phone and call 1,000 people in the hope that one of them wants to talk to me? I'd rather play golf and spend the $45.

Rick

 

[Bob Klee]

Hey Mike,

I agree with you that it takes work, both Hard work & SMART work. I've known guys to work hard but beat themselves up & quit because they didn't work Smart. One definitely cannot be scared of hard work in this business. It is NOT easy, no matter what some District Manager type told/sold you.

Another way you can pay yourself, besides the Hard work you mention, is to send traffic from your web site that you cannot write to leads companies like ours. Most likely you only write in your geographic area or your state. We have many agents send us traffic like that. Once your site moves up in ranking [over 12 million pages ahead of your ranking today] you will get folks in other states that come across it & fill out data asking for a quote. You would have to change your site a bit to make it work but it is not that hard.

Good luck to you in your business. My dad's side of the family all live in Arkansas. Looks like you are taking care of people's needs. Always room for folks that are doing the right thing.

 

[Frank Stastny]

If an agent earns $50 an hour selling and can hire someone at $10 an hour to set appointments, then it is not cost effective for the agent to get on the phone. The trick is to find someone at $10 an hour that can actually set appointments.

We've talked, I know that you really don't believe that hiring someone to set appointments to do a "Medicare Review" is even going to be close to the agent actually talking to them and setting an appointment to make a sale.

I've said it before and I will say it again, how many agents do you know that are so busy writing apps, not doing Medicare Reviews, all day, every day that they don't have time to prospect and set their own appointments?

Selling insurance is work, especially for those new to the business. You have been doing this for ever and may have forgotten what it was like when you first started. I know you worked your ass off for lots of hours every day. Now you can sit back, play golf and BS with me on the phone because you no longer have to work all day, every day. In fact, you don't even have to work every day.

When I grow up I want to be as wealthy as you are.

 

[CHUMPS FROM OXFORD]

"The solution has nothing to do with the lead companies. The solution is the person working the leads."

Actually, the problem is both, although that is a rather broad statement.

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[Frank Stastny]

"The solution has nothing to do with the lead companies. The solution is the person working the leads."

Actually, the problem is both, although that is a rather broad statement.

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Agreed, the leads will only be as good as the agent who is working them.

When I first started I bought leads from the company, $25 per lead. After a while I discovered that most of them the other agents got weren't sold because the agent said they were "no good" or the people "weren't interested". I found out that I could get those for free.

I took all they could give me and I sold a lot of Med Supps during that time. Most weeks I lead the office in production using the old, no good, not interested leads.

 

[pahealthquotes]

Frank,

I know you do very well with cold calling and selling med supps. I admire your style and approach but how much time do your spend each day cold calling? Can you imagine never having to cold call anyone? I sold advertising for years via cold calling and held my own. Made a decent living and eventually hit a plateau that no matter how hard I worked or how many cold calls I made my earnings were capped. Finally decided to make a career change into insurance and purchased leads from a few different vendors only to chase sales that 5 other agents were chasing. I also cold called small and large businesses for Health insurance with limited success. My wife actually had more success cold calling than me. Maybe they liked the female voice? It Took me a while to fully understand what was happening with my time and the crappy leads but eventually bells and whistles went off. Once I was able to develop my own leads.. man it changed everything. I cant imagine the amount of Medicare business you would write just sitting on the phone never leaving your office. I bet you would double if not triple your sales with the right lead source. Its funny how I chased people for years.. now I decide which clients I would like to work with and the prospects chase me.

Cheers,
Joe

 

[Frank Stastny]

Frank,

I know you do very well with cold calling and selling med supps. I admire your style and approach but how much time do your spend each day cold calling? Can you imagine never having to cold call anyone? I sold advertising for years via cold calling and held my own. Made a decent living and eventually hit a plateau that no matter how hard I worked or how many cold calls I made my earnings were capped. Finally decided to make a career change into insurance and purchased leads from a few different vendors only to chase sales that 5 other agents were chasing. I also cold called small and large businesses for Health insurance with limited success. My wife actually had more success cold calling than me. Maybe they liked the female voice? It Took me a while to fully understand what was happening with my time and the crappy leads but eventually bells and whistles went off. Once I was able to develop my own leads.. man it changed everything. I cant imagine the amount of Medicare business you would write just sitting on the phone never leaving your office. I bet you would double if not triple your sales with the right lead source. Its funny how I chased people for years.. now I decide which clients I would like to work with and the prospects chase me.

Cheers,
Joe

I will preface what I'm about to say with Med Supps are the only insurance product where cold calling the way I do it can be successful. Med Supps are unique unto themselves. Cold calling, done correctly, can and is very productive for me.

I do generate my own leads and I do sell over the phone. The cost of getting a new client is literally pennies out of my pocket.

The amount of time I spend isn't the issue. This is my full-time job, selling insurance.

What is important is how much income I derive from the methods I use. Everything I do, regardless of whether or not it is "important", is designed to reach economic goals.

Yes, it would be awesome if all I had to sit at my desk and have people call me and beg me to take their money. I can't say I have experienced that with any degree of regularity.

If one can think of a way to sell Med Supps I have done it and done it more than once over the last eighteen years. Med Supp leads, all Med Supp leads, are terrible in my opinion. I have worked all of the different kinds available many different times. They are nothing more than a name and phone number of someone who was curious at the time. It is not an indication they are ready to make a purchase.

I'm not afraid to work and put in the time. I was still on the phone at 8:15 tonight, my day typically starts around 6:30 am. My time would only be "too valuable" to prospect if I were writing applications all day, every day. I'm not, nor has any other agent I have ever met.

Agents may be "busy" going on appointments to do "Medicare Reviews" but to me that is the biggest waste of time. It is time consuming and very expensive. My time is spent much more productively spent prospecting and only spending time with those who are ready to buy and who qualify. I learn that in the first 60 seconds of the call. A telemarketer can't do that for me, I've used them in the past.

I've said this many times before but I'll say it again, "This is not a selling job, it is prospecting". Easily 80% of an agent's time is prospecting with 20% selling and getting paid.

If anyone can show me or any other agent how to reverse those numbers then I am all ears. I'm not talking about fluff and theory, show me hard numbers that prove that I can spend 80% of each eight hour day doing nothing but writing applications and collecting checks.

I will jump on that band wagon in a heartbeat.

 

[pahealthquotes]

Frank,

I'm glad your system works and wish you nothing but success. I hope you will continue to share your methods and wisdom with as many as possible.

Regards,
Joe

 

[arnguy]

How do you have time for your goats, Frank?

 

[Frank Stastny]

How do you have time for your goats, Frank?

When one endeavors in a labor of love there is always time.