Med Supp F2F Return %, Close Ratio
- Thread starter Roy2015
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- #12
I have been dropping mail w/ a 30k-50k maximum income primarily focusing on Med Adv. What would be the minimum income you would drop to if you were dropping mail for Med Supps? And if you don't mind, what do you think of trying to sell the DM leads over the phone?
Would it be realistic to think that you can sell 5+ Med Supps per week over the phone? I know the closing rate is lower so it seems like a tough task
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It's going to depend on your area, but I would say $20K and up for Med Supps. For Med Advantage drop it all the way to $0.
If you're already good at f2f sales, then your chances of doing it over the phone are better than a brand new agent, of course. Med Supps are actually pretty easy over the phone, but I always advise new agents to get field experience which will help them with phone sales. There is no reason, other than just not working the amount of hours you need to, that you couldn't get 5 or more Med Supp sales each week. It is a tough way to do it, but it can be done. Many agents find out very quickly that they don't like being tied down to the desk making phone sales day in and day out. Some will take to it like a fish in the water.
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- #14
Just curious how many pieces per month would you say should be mailed for an Average Agent to hit 20 sales per month over the phone?
I ask because I do Internet type but one of my FMO's keeps telling me I am missing the boat with direct mail
If you're good on the phone the closing ratio as compared to f2f should only be just a little less. With f2f you would need around 80 leads to close 20. I would say somewhere around 100 for telesales. While it's not a WAG, it's still a little bit of a guess.
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- #17
So it is safe to assume that DM is still a viable option when marketing for Med Supps over the phone? It would be good to know that DM still works for phone sales b/c telemarketing leads seem to have a very low close ratio. Would you recommend mailing 67-72 or t65?
- 190
What's your target market now? People do well in both. You might want to try what your already experienced with to start.
My closing ratio might be slightly lower than that, but I do a LOT of qualifying before spending any time with them.
When doing F2F (and running my own leads, not the "free" ones from my upline) I never got in the car until calling to let them know I was on my way. Before I set the appointment I pre-qualified the need and ability to pay. I rarely had no shows, one legs or someone that did not buy.
While I don't do direct mail (internet, self gen only) I use some of the same techniques and will quickly flush a lead sometimes before the first call. During busy times like AEP if someone doesn't open my email in 3 days I send another email saying I am closing their file.
Believe it or not, sometimes they call me after opening that email. If not they are gone and I am on to the next.
I only go for the low hanging fruit. Don't need to chase anyone or shame them into buying.
So I probably burn through more leads than most but my closing ratio is fairly high on my QUALIFIED leads, averaging over 90%. A few get away, but not many.
While I don't DM or TM if I did I would focus on T65, target areas with populations around 50k. If possible to secure leads by income and home ownership I would look for income $25k and up, own a home. If they have an email address even better.
I have never been a proponent of TM (smile and dial) but I know some swear by it. Interruption marketing is a big turn off to me.
- 190
I really like that quote box you have for your site! I'm designing a site and may have to make a check box thing like that for it. Very nice!
