Need Help with My Cold Calling Script

[warnerins]

warnerins, you really impress me. You have some good ideas and post. So far I think of you as the gura of car insurance.

Wow Mark, thanks for the kudos. I can tell you that this forum and your posts have helped to get the juices flowin' (read that anyway you want) But, I truly get inspired from bouncing ideas off of other agents that are not afraid to think outside of the box.

Hell it is just a relief to be able to vent sometimes with other humans that know what you are going through and have been in your shoes. Sometimes it is hard to explain to a friend or family member the frustrations and the exhilarations of running this type of business day in and day out.


The roller coaster ride that we have chosen as a career is not easily endured by most.

So, Kudos back to you and all that put up with me on a now regular basis and for you new agents - strap in, cause the ride will either buck you off quickly or take you on a long journey.................

Now, time to process my 7 new applications from today and get home.

 

[warnerins]

Will definitely track this for another 30 days and let the forum know where we are after that. Thanks all for your help.

Alright it has been just over thirty days and here are some numbers. I am on my second ACR. The first was Heather and she used the language from the first post. ( 2 hours a day)

12 days, 715 calls, 144 reached, 1 quote

Not much response from her calls. But was a great opportunity to tweak other activities (renewal calls, email marketing, welcome calls, quote follow-ups)

After I let her go (for attendance) I hired Amanda. She also called two hours a day and we shortened the language to:

Hi my name is Amanda. My insurance agency represents 18 auto insurance carriers. I was calling to see if you would be interested in a quote.

11 days, 918 calls, 147 reached, 1 quote

As you can see Amanda was able to dial 40 an hour while Heather was at 30 an hour. They both reached the same amount of people for the same 1 quote (both sold). If they were dialing 8 hours a day it would take 3 days to get a quote. 40calls X 8hours X 3days = 960 calls = 1 quote.

I pay 8.00 an hour. So it costs me 192.00 plus taxes to make about 100.00 on the policy. You would think that after a month of these types of numbers that I am ready to call it quits. But you know what guys, I'm thinking just the opposite!!

What these numbers aren't showing is that they are calling between 3pm and 5pm. They have been leaving short, detailed messages on answering machines. Using the same type of script and non-threatening approach.

Last month I was in a panick because of 2 or 3 of my niche markets being very slow and was pleasantly suprised. The call in quotes have increased to the point where they have taken up the slack. 115 call in quotes 87 new clients

 

[xrac]

...... I was calling to see if you would be interested in a quote......

Have you ever read Bill Good's book on prospecting. He recommends tinkering with the Script, call list, time of day, etc. until you hit pay dirt. Would something like "would you like to find out if you are paying too much for your auto insurance now" be more effective? You know what they say, you have to find the pain???

 

[SoCalBroker]

Mr. Warner ...

If you are currently feeding all those markets and writing that many new apps a month [kudos to you my friend - thats good work]

then you're cold calling plan is a colossal waste of time and treasure!

I didnt read back to the beginning but ... 70 - 80 new pieces/clients - right?

1- Do you have a Pro Active client nurturing program in place?
[if those telemarketers called current clients and loved on them a little instead of wasting time on cold fish - your retention % would skyrocket. And your income. .. and referrals!

2. Do you have a proactive referral program that is a S-Y-S-T-E-M?

3. Should have them calling lost clients that have been kept warm and fuzzy by your - "Lost Client Win Back Program" another SYSTEM.

4. Appreciation wins out over Self Promotion - Every Time.

5. Id rather cold call potential strategic referral partners.

Examples:
- Financial Advisors who want to make sure their clients assets are covered by quality policies so their hard work and planning isnt for naught cuz Client X saved $42 every six months buying $15/30/10 limits or excluded his 15 yr old kid or has a dog bite exclusion on his HO5. You can also SEAL them off from P&C agents trying to poach the financial services pieces.

Here's some secret sauce for ya - our shop kills it off this one!
- Competing Agents from State Farm who dont mind losing 1 line of business to you - by way of referral - if you will protect them from being paoched on the whole account. You keep the 2 water damage loss house for a few years - or you get the business insurance cuz SF doesnt like that class - but you always protect and edify the clients relationship with your State Farm referral partner - no matter what. Do some of these soon and you'll NEVER cold call ever again.

All the best,

Steve

Alright it has been just over thirty days and here are some numbers. I am on my second ACR. The first was Heather and she used the language from the first post. ( 2 hours a day)

12 days, 715 calls, 144 reached, 1 quote

Not much response from her calls. But was a great opportunity to tweak other activities (renewal calls, email marketing, welcome calls, quote follow-ups)

After I let her go (for attendance) I hired Amanda. She also called two hours a day and we shortened the language to:

Hi my name is Amanda. My insurance agency represents 18 auto insurance carriers. I was calling to see if you would be interested in a quote.

11 days, 918 calls, 147 reached, 1 quote

As you can see Amanda was able to dial 40 an hour while Heather was at 30 an hour. They both reached the same amount of people for the same 1 quote (both sold). If they were dialing 8 hours a day it would take 3 days to get a quote. 40calls X 8hours X 3days = 960 calls = 1 quote.

I pay 8.00 an hour. So it costs me 192.00 plus taxes to make about 100.00 on the policy. You would think that after a month of these types of numbers that I am ready to call it quits. But you know what guys, I'm thinking just the opposite!!

What these numbers aren't showing is that they are calling between 3pm and 5pm. They have been leaving short, detailed messages on answering machines. Using the same type of script and non-threatening approach.

Last month I was in a panick because of 2 or 3 of my niche markets being very slow and was pleasantly suprised. The call in quotes have increased to the point where they have taken up the slack. 115 call in quotes 87 new clients

 

[warnerins]

Xrac - Thanks nice line.....

SoCal - Thanks for the Kudos. Please know that this cold calling thing is a scientific experiment that I am not quite ready to give up on just yet. The ACR position that I have implemented does nothing other than outgoing calls.

1. There is an extensive and completely calculated client nurturing program in place. 30,60 and 90 day new client follow-up calls, Email program (twice a month), 6 month and annual reviews (15 minute non-selling appointments).

2. The referral program is a work in progress but have links from our newsletter and bi-weekly email to this. Referral Contest

I personally respond to each of these online responses with a thank you to the referee and a phone call to the referral.

3. I don't have a Lost Client Win Back Program (would love to hear your ideas). But, we do call all unwritten quotes two weeks after and also a month after that.

4. I do have an inhouse financial planner and life expert. Cross selling has been very profitable.

5. And, just by chance my Mother-in-law is a huge SF Agent in NM and sends me 2 or 3 commercial cases a month. We have created an introductory email that we have sent to 20 other SF Agents and are working that as we speak.

We do all of these things and tons more. But until I find this cold calling a complete waist of time I will probably continue having one staff member trudge forward.

You know when I was contemplating this experiment and putting together language, I was cold called twice.

"Hi we are calling to let you know that State Farm is rewarding good drivers. Can I offer you a competitive quote?"

 

[SoCalBroker]

WarnerIns ...

Sounds like a tight system.

Work that State Farm angle ... its a gold mine. We've made a value proposition with about 100+ and 30 or so are consistent referral sources.

Would love to chat offline about any aspect of insurance marketing.

Need 15 more posts for PM....s

I can read em though - shoot me your email address in PM and I'll chat ya up.

 

[warnerins]

SoCal

[email protected]

Looking forward to it

 

[wrighj03]

Tell a story about how you have helped someone else. Make them say no 3 times. Then close with "why don't I buy you a coffee and show you some of the packages that saved others Money" "Come on, how do you take your coffee?" "The worst that can happen, you get a free cup of coffee?"
I just think most people don't know what they are saying no to. One time I was talking with a guy that owned a Auto repair shop and had a few cars for sale here in CT. His Commercial insurance agent was out of Boston, MA like two hours away from CT. The insurance guy never visted the place. One day the owner of the auto place got a card in the mail and he said "told him to call". He later found out he had no fire insurance and he wasn't insured for enough money.

 

[bobson]

I must say warner I am impressed. It seems to me cold-calling for new customers is something you should drop yesterday. Sure you may be able to tweak it some, heck maybe get 3 new clients for every 900 calls, but why waste the energy of someone willing to make 900 calls with that garbage. They should be calling current clients offering new services.

If I'm not mistaken you are what 18 months into this agency? Did you set up these systems or did you buy into them? (Or maybe I have you confused with someone else...)
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Yes, I recommend Warner start the IPCIIA and Mark, you can start the ILIAA. But you better hurry or Marker77 will beat you to it. For $20/mo. he'll set you up on how to sell life over the phone. And for that $20, he'll tell you how to get you acceptance rates to 70%.

I'd join warners IPCIIA!

 

[warnerins]

Bobson,

Yes, we are about 20 months into this new (scratch) agency. I think the cold calling may have run its course.

Dials 2683 / Reached 445 / Quotes 3 / Clients 3

Talk about beating a dead horse. However, I made the commitment to try this thing out for 30 days and would have always wondered if I hadn't taken this thing to the end.

Have already started the ACR on scheduling B2B calls and have targeted:

Pawn Shops
Handyman Businesses
Auto Repair Shops
IT and Computer Repair

I am also gearing up to hit the captive agents hard. with the "Hands on/Hands off" Service. Please Critique My Marketing Idea

These systems are not bought (however that would have probably been an easier row to hoe).

I love the creative aspect of this career (gets the juices flowin').