Insurance Agent Forum

[jhenderson99]

Has anyone tried this? If so, I would be interested in your response rate and recommended vendor for the hangers.

[moonlightandmargaritas]

I would suggest a forum search, there's been about 4.749 posts about door hangers.

[jhenderson99]

My bad ..... you are right.

[Markingriffin]

Originally Posted by jhenderson99

Has anyone tried this? If so, I would be interested in your response rate and recommended vendor for the hangers.

www.doorhangers.com 10,000 for $299

It really depends on what you put on the door hangers. Also, don't waste your time, doing them in Dec. Wait until after cmas.

I do not do health insurance, so I can't give you a response rate. But, it would be worth trying. Trying something is better then doing nothing.

[MikeLevy]

Depends a lot on your product. I've been told it can work for discount health plans. Not so good for higher end health plans. I tried door hangers for a different product when I was an agent but that was a long time ago. I had mixed results and hanging the hangers was a lot more work than I originally expected.

If your representing a low cost plan I would make sure that the words "Low Cost Health Plan" or something to that effect is visible on the outside of the hanger from 10 feet. Then get permission from a large apartment complex to hang the hangers and hit every other door. You can move fast to maximize your time and it won't be necessary to leave a hanger on every door. The residents can see the hangers on the other doors as they walk down the hall. If a hanger is not on their door and they are interested they will grab one from a neighbor, many hangers will end up on the floor anyway for them to pick up. This will maximize your hangers and speed up the hanging process which is a big consideration. Hanging 10,000 hangers is time consuming!

I don't recommend using door hangers in high end neighborhoods or any neighborhood where you have to walk more than 50 feet between doors. It just takes too long to hang them and too much energy. It will take about 10,000 hangers to refine the process and produce results. 10,000 hangers x 50 feet is 500,000 feet or roughly 100 miles of walking. Make sure you can trust whoever you hire to hang them. If they come back too quickly for the next set of hangers, check your local dumpsters!

[somarco]

Print ads, including doorhangers, are not universally effective.

Some things play well, like pizza and Chinese restaurant menu's. Services like lawn, gutter, roofing & driveway also get decent play.

Insurance is not one of those things that work as well. There are quite a few dynamics involved here.

As Mike said, if you are selling a low end, no underwriting product like discount cards or mini-med you might do well, especially if you target low income neighborhoods. I can't envision this working well for major med in residential neighborhoods.

If you want to try it, businesses, especially blue collar, would be a target to try. Go around early in the AM and place the hanger.

[healthagent]

Pay a kid - ROI:

10,000 = $300
Kid gets $8/hr and puts out 150 per hour
10 hours X $8 = $80 which is 1,500 hangers places
.05% response = 7.5 leads
Closing is 1 out of 6 so that's one deal average commish = $600

What's the return?
1,500 hangers = $45
Labor = $80
Client acquisition cost = $125

To me that's not bad and I only put them out in high end areas - hence the .05% response.

One thing to note; if you're in the Crofton, Odenton, Millersville, Bowie they're God awful - avoid those areas of MD at all costs.

[jhenderson99]

Thanks guys. Almost doesn't seem worth it then. I've found telemarketing co who will give me leads for as little as $20.

$20 x 10 leads = $200

Not much more than the lead per dollar spent return above and A LOT less hassle.

Sounds like the life / final expense guys seem to have decent responses.

[somarco]

Sounds like the life / final expense guys seem to have decent responses.

Yep.

Those prospects are just dying to buy something . . .

[Markingriffin]

Originally Posted by jhenderson99

Thanks guys. Almost doesn't seem worth it then. I've found telemarketing co who will give me leads for as little as $20.

$20 x 10 leads = $200

Not much more than the lead per dollar spent return above and A LOT less hassle.

Sounds like the life / final expense guys seem to have decent responses.

$20.00 for a lead. WOW!! You can get them for half that amount or better. Do some shopping around and some searches on this forum for a better deal.

[moonlightandmargaritas]

Originally Posted by somarco

Those prospects are just dying to buy something . . .

Problem is: it's a dead business...