Med Supp Newbies, Why You Should Cold Call

[Focus LTC]

We are from a completely different school... New agent's that come into this business end up buying leads with no closing experience or product knowledge, they buy a website that never draws in leads, the spend hundreds of dollars on mailers that they can't close and the prospects were tricked into sending in because they think it's for the gov't. They end up broke and out of the business with a huge credit card bill they can't pay and the ONLY people that are happy are the rip-off, prey on newbies associations, the lead vendors, and the website people ALL who made their money.

So you are arguing that closing a lead is too hard for new agents and that they'll have better luck closing a cold call.

Not gunna fly. Epic. Fail.

 

[VaDwayne]

So you are arguing that closing a lead is too hard for new agents and that they'll have better luck closing a cold call.

Not gunna fly. Epic. Fail.

NOPE!!! They just won't go into a financial hole that they cant dig themselves out of while learning.

Not gonna fly Debt= epic fail

 

[medsuptage]

So you are arguing that closing a lead is too hard for new agents and that they'll have better luck closing a cold call.

Not gunna fly. Epic. Fail.

NOPE!!! They just won't go into a financial hole that they cant dig themselves out of while learning.

Not gonna fly Debt= epic fail

I'll chime in on this, I agree with Vadwayne, having been through this myself with Medicare supplements.

Cold calling doesn't need to be a main source of income through out your who career, but it's important that an agent starts on cold calling or even aged leads in my opinion. Even if you have the marketing dollars. There are exceptions to this of course, but in most cases, when your green as grass out the gate, it's the only way to start.

If you buy a cold call list and qualify 30 prospects, and any of us could have closed 6 of them, well that's great. When you're new you're probably going to screw up half of those sales and write 3, but who cares? It was a 50 dollar list.

If you drop a $400 mailing, and you get 20 leads back and there's 5 potential sales there that any of us could close,
once again, great. Well if you're new, it's way different then cold calling, you don't have 1000 shots at getting a sale, you've got 20 shots to not screw this up and talk your clients out of buying from you. At 20 dollars a phone call, it's going to take thousands of dollars to get over the learning curve. You can do that same thing with a few hundred bucks cold calling.

The Margin for error is much lower when you're paying for expensive marketing. Even if you have the funds, if you're not skilled enough to use your leads effectively it's going to be the end any agent.

 

[DS4]

Cold calling, door knocking, direct mail, newspaper inserts, all of these work. Some better than others.
In the beginning when I had no money, I door knocked.
Once I had some money, I did direct mail & newspaper inserts.
Your ultimate goal is a steady flow of referrals with renewal income.

 

[Justin Bilyj]

Anyone want to post their cold calling script for medicare supps?

 

[Focus LTC]

NOPE!!! They just won't go into a financial hole that they cant dig themselves out of while learning.

Not gonna fly Debt= epic fail

Obviously you see a difference between money and time. Truth is there is no difference.

Why waste your time (money) cold calling with limited success while simultaneously exposing yourself to steep civil fines and legal fees for inadvertent do not call violations?

I argue to invest your money (leverage your time) in methods that will help you find interested prospects i.e. buying leads, advertising... You will be exponentially more efficient (revs/time).

As a business person, I don't understand your aversion to debt. Perhaps you are a poor manager of debt or made some stupid decisions in your past. All successful businesses worth a lick regularly use financing. Apple and google have debt on their books.

But then again, you are not a business person, you are a paramedic. Why would a business person in the insurance industry take advice from a paramedic? They wouldn't.

 

[moonlightandmargaritas]

I argue to invest your money (leverage your time) in methods that will help you find interested prospects i.e. buying leads, advertising... You will be exponentially more efficient (revs/time).

One of the most cogent posts I've ever seen on this board.

But then again, you are not a business person, you are a paramedic. Why would a business person in the insurance industry take advice from a paramedic? They wouldn't.

LMAO!

 

[AnonymousOne]

Is it really possible to read someone's experience of a long term successful client from a cold call when he was early in the business and say cold calling doesn't work and he is making mistakes. Take your opinions elsewhere.

Obviously you see a difference between money and time. Truth is there is no difference.

Why waste your time (money) cold calling with limited success while simultaneously exposing yourself to steep civil fines and legal fees for inadvertent do not call violations?

I argue to invest your money (leverage your time) in methods that will help you find interested prospects i.e. buying leads, advertising... You will be exponentially more efficient (revs/time).

As a business person, I don't understand your aversion to debt. Perhaps you are a poor manager of debt or made some stupid decisions in your past. All successful businesses worth a lick regularly use financing. Apple and google have debt on their books.

But then again, you are not a business person, you are a paramedic. Why would a business person in the insurance industry take advice from a paramedic? They wouldn't.

 

[Todd King]

Obviously you see a difference between money and time. Truth is there is no difference.

Why waste your time (money) cold calling with limited success while simultaneously exposing yourself to steep civil fines and legal fees for inadvertent do not call violations?

I argue to invest your money (leverage your time) in methods that will help you find interested prospects i.e. buying leads, advertising... You will be exponentially more efficient (revs/time).

As a business person, I don't understand your aversion to debt. Perhaps you are a poor manager of debt or made some stupid decisions in your past. All successful businesses worth a lick regularly use financing. Apple and google have debt on their books.

But then again, you are not a business person, you are a paramedic. Why would a business person in the insurance industry take advice from a paramedic? They wouldn't.

You're missing the point of the whole post here, I think.

While I do agree that time is money, sometimes you just don't have quite enough money to buy leads. You have to buy cheap lists (scrubbed against the DNC of course), and cold call.

What if an agent just starting out only has a couple hundred bucks to invest in leads of some sort? Is he going to buy mailers? Not at that price.

 

[sman]

Take your opinions elsewhere.

You don't agree with him so you've determined he shouldn't post them here? Who died and left you in charge?