Lead Sources (Direct Mail)

[BeHappy1]

I am new to the business (9 months) and I belong to an IMO in which I have been getting leads. They are mostly direct mail and I do VERY well with them. But I am learning that I could be earning a lot more commission if I was totally independent. So I tried internet leads (netquote, insuranceagents.com etc) - did not close a single one (they were just people price shopping or fradulent).
I thought about doing my own direct mail, but when I look at the rate of return of 1-2% and what I would be spending to mail out vs what I would be closing it adds up to more than what I am spending on leads now with the IMO.
I am looking for advice about doing my own direct mail. Is it worth it to spend a little more doing my own direct mail leads and in return get a higher commission? I would really appreciate any information about doing direct mail for myself.

 

[Josh]

If you are doing "VERY well" and earning a good living at what you're doing now, odds are you should stick with what you're doing. Generating leads as an indy agent will yield you a higher spread on the business you write, but it's difficult to get a good system up and running from scratch and you may go broke in the process. Response rates can vary quite a bit.

 

[steveadlman]

If you are doing "VERY well" and earning a good living at what you're doing now, odds are you should stick with what you're doing. Generating leads as an indy agent will yield you a higher spread on the business you write, but it's difficult to get a good system up and running from scratch and you may go broke in the process. Response rates can vary quite a bit.

Good advice. If it's not broken why do you need to fix it.

 

[BeHappy1]

I should have explained more, but I didn't want to ramble. I definitely agree with the "if it ain't broke, don't fix it" attitude.
Although, I like the lead program that this IMO has, I am becoming a little skeptical about their other methods and practices. I believe it is important to believe in the organization in which you are affiliated.

 

[HarryRenard]

Start asking all of your appointments if they have the original card that was sent to them, if they have that and you have the card, you have a copy of the lead that works well for you, next step duplicate it.

But I do agree that if your making good money stick with it, pigs get fatter hogs get slaughtered.

Can you go into more detail about what you do not like about the IMO your with?

 

[Norwayguy]

Correct me if I am wrong but there is nothing stopping you from doing a mailing of you own. You can sell them through your existing channel and work on the process of generating your own leads without leaving or jeapordizing your existing contract. Then when your ready you already have the process in place or you may find your existing IMO might just be the place for you.

 

[BeHappy1]

I was thinking if I was at a higher contract level with companies then I wouldn't mind spending more generating my own leads. Right now I am at 65%(and less for some products) and pay on average $27 per lead.

 

[BeHappy1]

I have been selling mostly Mortgage Protection but recently have been doing Final Expense. I like working the senior market and would like to do more Final Expense and Med Supp.

 

[BeHappy1]

I emailed you, Jim.

 

[360]

I was thinking if I was at a higher contract level with companies then I wouldn't mind spending more generating my own leads. Right now I am at 65%(and less for some products) and pay on average $27 per lead.

If you've been able to stay in business writing MP at 65% with $27 leads you're doing better than most. You need to explore your options. Let me know if you need any help.