Medicare Supplement Realistic Sales Goals?

[moonlightandmargaritas]

Prospect here is defined as the 10 people you're lucky to talk to. And of course they're not all sellable.

Thanks for making my point so eloquently. "Lucky to talk to" doesn't make 'em a prospect.

Bottom line: you're NOT gonna get 10 prospects for every 100 dials as you suggested.

 

[Superchief]

Do the generic mailers pull better, or are you using something more specific about new pricing etc? Lead connections has a real basic mailer I was thinking of using

Usually just the generic. Anything custom I do myself, but always takes much more of my time. Easier just to roll the generic ones.
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I stay away from t65...do 66-79, income $15k and up (no ceiling on the top end).

This, but my bottom end is a bit tighter here. 30k and up.
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Thanks for making my point so eloquently. "Lucky to talk to" doesn't make 'em a prospect.

Bottom line: you're NOT gonna get 10 prospects for every 100 dials as you suggested.

My apologies for misusing the word prospect. I see you are the vernacular police here.

I retract my statement and offer the following. For every 100 dials over years of trials roughly 10 sentient beings will answer the telephone, and offer some form of response. Occasionally its receptive. Much more often it is not.

 

[houcoogster]

Thanks for making my point so eloquently. "Lucky to talk to" doesn't make 'em a prospect.

Bottom line: you're NOT gonna get 10 prospects for every 100 dials as you suggested.

Let's go ahead and break it down a little further.
100 Dials = 10 Talked to = 1.7 potential prospects according to the national average of 17% Medigap for Medicare Beneficiaries.
So you need to dial 300 to talk to 30 to have 5 prospects set 2 appointments sell one if you have a 50% closing ratio.

 

[axeman462]

I try to do a minimum of 12 a month. That's an easy goal if you put some effort into it and actually work 5 days a week. I do not. That's 144 policies a year and a little over $200,000 in premium which is $40k in commission. That's IN avg prem and commission though.

A dedicated agent can do 12 policies a month, just cold calling and spending about $300/mo on a calling list.

I say spend $300/mo on a T65, and save the other $900, or continue buying mailers for FE, and cross sell medsupps

 

[houcoogster]

Did you guys know this?

The percentage of seniors with a Med Supp plan today is HALF of what it was in just 1995!

 

[axeman462]

Did you guys know this?

The percentage of seniors with a Med Supp plan today is HALF of what it was in just 1995!

I guess we must be slacking, probably spending too much time on the internet posting stuff on forums... Get to work guys!! Lol

 

[abcsales]

Curious why after 10 years selling FE you would want to change focus?
I would start with your current book of business and ask for referrals.
8 med supp sales is much less in commission than 8 FE plans

 

[tins]

Did you guys know this?

The percentage of seniors with a Med Supp plan today is HALF of what it was in just 1995!

Makes sense that the percentage dropped (MA's and whatnot). Has total number also dropped or gone up?

 

[houcoogster]

Makes sense that the percentage dropped (MA's and whatnot). Has total number also dropped or gone up?

It has stayed pretty constant since 2004, but of course the number of seniors has risen. I think cost is a big reason for this, cost relative to net income.

 

[Todd King]

Curious why after 10 years selling FE you would want to change focus?
I would start with your current book of business and ask for referrals.
8 med supp sales is much less in commission than 8 FE plans

This is true unless you look at it over a few years time. Most agents who are serious about their career are going to look at the renewals as well, not just 1st year.