Is FE Easier in the South?

[Gooner]

Did I mention I hate Mississippi?

Did you say that because M&M went on a tear about inbreeding...shame, shame.

 

[jdeasy]

I think that agents that don't/can't sell think it's always easier somewhere else.

I know agents that kill it working the hoods, the woods, the south, the north, the east, the west and everywhere in between.

 

[John Galt]

Really? You must be doing something wrong. I have mailed many counties in Florida extensively for FE, and found the returns to be in the same range as most parts of the country. In addition, my call center lead ops call Florida all day long - with great results.
Are you from Florida? Yes, there's a Creole speaking market in Miami (and other markets in Florida), but it pales compared to the Spanish speaking market in South Florida. EXCELLENT market that buys (not "buy's") all kinds of life insurance. Seguro de vida. Problem is, you won't reach the market by direct mail - or a telemarketer.
I can see you are so proud of the state that you live in that you chose not to put a state flag on your profile. I can only imagine. I'm guessing it's one of the states known mostly for inbreeding.

Just when I was starting to like you, you decide to go and throw me an insult, funny as it is...yes its Jawga, we play banjos and F'k our sisters, too bad I dont have any sisters, you got any? Matter of fact, if you would be so kind how do I add that flag to my profile?

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Should they put snow, blizzards, freezing temps, wheat/corn fields, and obesity before that?

yes, makes it easier to catch the women Just kidding, dont take it sooooo seriously bro.

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I think that agents that don't/can't sell think it's always easier somewhere else.

I know agents that kill it working the hoods, the woods, the south, the north, the east, the west and everywhere in between.

I agree, but Id rather work the woods than the hood.

 

[goillini52]

Just when I was starting to like you, you decide to go and throw me an insult, funny as it is...yes its Jawga, we play banjos and F'k our sisters, too bad I dont have any sisters, you got any? Matter of fact, if you would be so kind how do I add that flag to my profile?

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yes, makes it easier to catch the women Just kidding, dont take it sooooo seriously bro.

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I agree, but Id rather work the woods than the hood.

Click on your user name...click on User CP, then click edit options.

 

[John Galt]

Click on your user name...click on User CP, then click edit options.

Hey man, thanks, did it.

 

[Rearden]

Florida is not the south. Well maybe the Panhandle is the south. Florida is Florida and is one of the nations toughest places to find good lead sources for final expense. The mail returns are very low and Telemarker calling is slow going.

The Miami market has a French speaking population that buy's final expense insurance.
If I had to pick one State that was best for FE; Florida would not make the Top 40 list.
For-get-about-it

The truth is that final expense marketing has become more challenging and will become more challenging with every passing year.

Now more than ever, there are more agents making horizontal moves from other niches, along with new agents coming in from non-insurance industries.

With low barriers of entry into final expense (a few thousand bucks and an appointment or two), and everybody practically using the same mailer pieces ($255 Government Benefit, State Regulated Plans), I would expect response rates to continue to drop, raising the cost of client acquisition for all agents -- especially in the South where this business is very popular.

It's not so much that new people will sell all the leads; it's just that our suspects and prospects are inundated weekly with similar-looking direct mail pieces. It takes no skill to invest $400+ in a 1000-piece mailer, which the end result is over-saturation.

Take a recent example; I dropped a piece in rural Alabama that has "Final Expense Life Insurance" on the mailer and received a 0.7% response rate. I sold a good bit, but several of the leads were already sold or already saw an agent.

Turns out another IMO has mailed a similar piece in the area over the past several years, and such a high level of saturation has lead to diminishing returns and lower ROIs.

And this higher cost of mailing is definitely a long-term trend all agents will have to deal with, and is validated not only by lower response rates nationally, but by rising costs of fixed lead programs (EFES, Securus) and the increased usage of generic lead pieces (E-64) to increase response at the sacrifice of quality.

The solution? Every agent with a focus on longevity in this business should be diversifying marketing efforts and working continuously to find new avenues of generating quality leads at a price that will allow strong return on your investment.

 

[jdeasy]

^^I don't know that the FE is more saturated with agents than it's ever been. I see just as many drop out as ever and that's always good for those of us that stay.

There was really a run on the fE market after '08 and the introduction of MIPPA.

LH has always been a recruiting machine and those agents were always for something else.

It is what it is. Marketers portray selling FE as the best get rich quick with little effort thing to come down the pike. People still buy into the hype.

Then they are pushed to build a team. That adds more clueless agents to the field.

I just don't don't see it as being anymore prevalent than ever.

 

[Biggin]

Florida just like California and New York should have their own flag.

Florida DOES have their own flag.

 

[MarkForte]

The truth is that final expense marketing has become more challenging and will become more challenging with every passing year.

Now more than ever, there are more agents making horizontal moves from other niches, along with new agents coming in from non-insurance industries.

With low barriers of entry into final expense (a few thousand bucks and an appointment or two), and everybody practically using the same mailer pieces ($255 Government Benefit, State Regulated Plans), I would expect response rates to continue to drop, raising the cost of client acquisition for all agents -- especially in the South where this business is very popular.

It's not so much that new people will sell all the leads; it's just that our suspects and prospects are inundated weekly with similar-looking direct mail pieces. It takes no skill to invest $400+ in a 1000-piece mailer, which the end result is over-saturation.

Take a recent example; I dropped a piece in rural Alabama that has "Final Expense Life Insurance" on the mailer and received a 0.7% response rate. I sold a good bit, but several of the leads were already sold or already saw an agent.

Turns out another IMO has mailed a similar piece in the area over the past several years, and such a high level of saturation has lead to diminishing returns and lower ROIs.

And this higher cost of mailing is definitely a long-term trend all agents will have to deal with, and is validated not only by lower response rates nationally, but by rising costs of fixed lead programs (EFES, Securus) and the increased usage of generic lead pieces (E-64) to increase response at the sacrifice of quality.

The solution? Every agent with a focus on longevity in this business should be diversifying marketing efforts and working continuously to find new avenues of generating quality leads at a price that will allow strong return on your investment.

This is one of the most thought out answers to a thread that I have read on the Forum. It motivated me to read about your mentorship program. I'm on the marketing side of the business and I alway's reccomend new agents find a mentor. Saves so much time on the learning curve.

 

[Rearden]

This is one of the most thought out answers to a thread that I have read on the Forum. It motivated me to read about your mentorship program. I'm on the marketing side of the business and I alway's reccomend new agents find a mentor. Saves so much time on the learning curve.

Thanks for the kind words, Mark.