winchester49
Expert
- 38
Thinking about getting back into the business after a two year layoff. Concerned that price increases will hurt FE sales or create a lot of chargebacks from current sales. Any feedback would be appreciated.
How is gas, food and electric rate hikes affecting FE sales?
- Thread starter winchester49
- Start date
- 18,989
Noticed no difference here. I had my best year ever last year. About on the same pace this year. Paying a little more for gas each week. That's the only difference for me.
Maybe there is something I should be worried about that I'm not?
Maybe there is something I should be worried about that I'm not?
- Thread starter
- #3
winchester49
Expert
- 38
JD, are you still getting 15 dm leads per week and selling approx. 25% of them. I know you do a lot of referral business but was more curious about your results from fresh leads.
- 18,989
I still get 15 leads per week. I don’t separate sales.
But if I only closed 25% I would be looking for a different line of work.
- 18,989
Your question made me go look. I've written 138 FE apps year to date. I've written 5 or 6 sups and 5 or 6 CI plans that don't count on the FEX board. So 138 is just FE. I went to the RGI site and I've gotten 280 leads year to date.
You can figure the math.
- 5,778
Many FE clients live on a razor thin financial footing most of the time. They live on fixed incomes that are not keeping pace with increased cost, not to mention the economic fear that is being touted daily on news and social media that has a very real "perception effect" on the economy. Those variables alone can have a negative effect on sales and persistency.
To not understand how this "build back better" economy can and is effecting purchasing, is to be blind or not a student of your business.
That said... you will always have chargebacks, its the nature of the beast.
- 18,989
Of course it is.
Don't you know, people aren't writing business anymore because everyone is at home wringing their hands about stuff.
No one wrote insurance in the 70s and 80s either when inflation was double digits.
The fetal position on your couch is the obvious solution.
Times of high inflation have always been good for the insurance business.
- 1,763
I just did,that means you are on pace to write somewhere around 350 first day coverage polices per year,right ?
15x52=780 leads per year. That means you are writing just under 50% of your lead cards,right ?
We know you don’t write GI so do you filter out GI on your lead cards ?
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