Some food for thought when calling your leads!

[Delta76]

I use to hate cold calling, I still wouldn't do it if I didn't have to in order to write new business, but it's really not bad after about 3 calls, almost relaxing. Realize that when you call, the pressure isn't on you, believe in the law of large numbers, if I average 70 calls per day, I will make 10 sales per month not including any cross selling or referral business. Create a quota for the month and divy it up however you like.

As far as calling, I believe in keeping it simple and direct to the point. If the prospect is interested in talking great, if not, that's fine also, his choice.

"John, this is Delta calling, I'm an insurance broker, I was hoping to catch you with a minute to talk, did I catch you at a good time?" (I ask on every call, it's being polite)

"I work with health insurance and I was hoping to find out what you're doing currently." (put the ball in their court, they can either talk or not, most will, but many won't)

Find out what carrier they're with, how long, ect. and get an idea if the person is even a canadiate for what you do. If you find some pain, simply close softly for a meeting:

"I don't know if I can help you or not, would it make sense to invite me in for 20 minutes to look at your plan, and then if I can help, I'll show you some options, and if I can't, I'll tell you that too. Is that something you would be interested in?"

The key is to talk conversationally and realize there is absolutely no pressure on you, the prospect makes all the decisions himself. I always give the prospect an easy way out to gauge interest level.

 

[Delta76]

This is not intended to slam anyone here or imply about what someone is doing or not doing for prospecting activity. I ususally find that those who don't like cold calling are not doing enough of it. There is something to be said for momentum, when calling consistently, different people will have good reasons for not meeting yet, put them down for follow-up, and after calling consistently for a month, you will set 1-2 "easy" new appointments per day from following-up. My goal is to set 2-3 new fact finding appointments per day, that's easy to do in 2 hours if I'm calling consistently. If I'm not, then there is more pressure on me to get a "Yes" when making the calls, that is not alot of fun.

 

[Frank Stastny]

This is not intended to slam anyone here or imply about what someone is doing or not doing for prospecting activity. I ususally find that those who don't like cold calling are not doing enough of it. There is something to be said for momentum, when calling consistently, different people will have good reasons for not meeting yet, put them down for follow-up, and after calling consistently for a month, you will set 1-2 "easy" new appointments per day from following-up. My goal is to set 2-3 new fact finding appointments per day, that's easy to do in 2 hours if I'm calling consistently. If I'm not, then there is more pressure on me to get a "Yes" when making the calls, that is not alot of fun.

I agree. For the most part, those who don't like it are the ones who tried it for a day or two and were not successful at it. They were uncomfortable and afraid of rejection. I know, I was once one of them.

They have to realize, they don't know the people they are calling and the people don't know them. Once I realized that, the rest came pretty easy.

It takes time and practice. Once an agent becomes practiced at it he/she will set a whole lot more real appointments than any telemarketer will.

Like you, I hate that first call, I have even dusted my office to keep from picking up the phone in the morning. However, once I get a couple under my belt, phone calls that is, in the morning I'm usually on a roll. That's when it gets productive and can actually be fun. Well, more fun than walking to the junk yard barefooted kicking broken bottles and bricks. LOL

 

[Crabcake Johnny]

Seems to be the pattern - apprehension before making calls, but it's easy once you're on the phone. Just remember, unless the person actually expects your call, it's a cold call.

 

[CHUMPS FROM OXFORD]

I don't like making those calls either. But when you think aboutit...we are getting paid each and every time we make that call.

How many calls per placed policy? 100? If so...that's about $3-$4 per call.
When you think of that way...

50 calls per placed policy? Even better.

500 calls per placed policy. You better hire someone.

 

[Crabcake Johnny]

Well I certainly don't do this but it's food for thought:

3 hours a day of cold-calling generating 10 solid leads. Close 1 out of 15 (which is right if you're doing the calls.) That's 3 deals a week on a 20% contract at $3,500 AV = $2,100 per week.

That's six figs with zero lead cost, not hassles with not getting a hold of anyone, no "bad" leads (unless you're gonna generate bad leads for yourself) and not too many people in the country making six figs for 3 hours of cold-calling a day. It would be an additional 2 to 3 hours of following and up writing apps and you're still not at 8 hour days.

I do farm it out since per my above post "if it works it works."

 

[Frank Stastny]

Well I certainly don't do this but it's food for thought:

3 hours a day of cold-calling generating 10 solid leads. Close 1 out of 15 (which is right if you're doing the calls.) That's 3 deals a week on a 20% contract at $3,500 AV = $2,100 per week.

That's six figs with zero lead cost, not hassles with not getting a hold of anyone, no "bad" leads (unless you're gonna generate bad leads for yourself) and not too many people in the country making six figs for 3 hours of cold-calling a day. It would be an additional 2 to 3 hours of following and up writing apps and you're still not at 8 hour days.

I do farm it out since per my above post "if it works it works."

I would guess it works for you because you know what you are doing, have done it yourself, been successful at it, and how to teach a telemarketer to do.

How successful do you think you would be if you were an agent who had never been successful at doing their own telemarketing?

I know I would have fallen on my, ah, face.

Even though I have been doing it for a long time and believe that I could teach someone to do it for me, I would rather do it myself. The main problem is that I "sell" it to them on the phone before setting the appointment. Something that is illegal to do unless one has an insurance license.

If the prospect expresses interest on the first call I switch gears and go into a "selling mode".

On a good day I rather enjoy it if you can believe that.

 

[Crabcake Johnny]

I telemarketed Goleads for months last summer before I hired anyone. I needed to know all the stats involving number of calls made, leads generated and conversions to sales. I still call, it's just not every day. I need a certain amount of leads per day and if the marketers slack on day I make up for it the next day personally.

I have to farm it out since I like tons of volume. Right now my goal is getting to 50 leads a day and I'm working towards that. I obviously cannot generate 50 leads by myself.

I also get to help people who need money. I just hired a girl who got laid off from her job and hadn't found a new one yet. She's doing an outstanding job for me and at $15/hr it's $5 more an hour than her old office job with no commute. I get to spend my hard-earned money on hard-working people who really need it. Over a year ago I had a disabled lady working for me. If I'm gonna spend money on leads I'd rather have it goes to someone who's working and needs it then some wad trying to screw me over trying to find a way to sell leads to 10 agents behind my back.

 

[JYWalke]

Thank you for that piece of advice on cold leads. I was one who did what others did, give up after a few calls. But you are right, they may not need it now, but will change their minds later.

 

[MHart]

My expericence has been I cannot beat the call centers but I can pick up the clients that do not buy on the first or second call from them. I have picked up my fair share because I gave them time to pick their plan and not rush into their decision which the call center tend to do.

Here is one for you I sold my first telemarketed lead today premium was $250 a month.

My average premium for shared leads was $170. So I would say that was a success no lead expense.

I am not generating the lead volume I would like cold calling only getting about 1 an hour. Are you guys mixing it up when you call some in the afternoon and some in the mornings? Is anybody combining B2B marketing with telemarketing and having any success I would love to hear how others are generating leads? I would like to know if certain times of the day work better.