I am seriously considering selling final expense out in the field. The carrier that I am thinking of going with offers access to a discounted direct mail lead program, and a great product of course!
Now I have a question. When I do finally get my leads, should I call first to set up an appointment, or simply drive by the prospect's home, show them their returned lead card, and introduce myself to possibly make my presentation?
It seems that a growing number of field agents in this market feel that calling to set up an appointment is a waste of time in that you can get hung up on (There goes your sales opportunity with that person), or simply you won't be able to reach them by phone for various reasons. And finally, the time proven excuse, sorry; objection, "Send me something in the mail".
A fellow who sells for Bankers Life in the final expense market, told me a couple of years ago that this is how he operates. He shows up at the prospect's door, and tells them that he happened to be in the area visiting other folks, and thought that it was a good idea to stop by, and "have a conversation" about the insurance. Besides, he is not lying as for the most part, the leads are generally from the same zip code. He told me that he gets in the door most of the time, and is able to make his presentation. If they can't invite him in for any reason (Too busy at the moment, spouse not home, etc.), then he sets up a time to meet again another time or day.
And lastly, he stated that his first full time week out in the field, he worked his butt off from Monday through Saturday, 9 to 10 hours per day, and banked an impressive $13,000+ in commissions!
I like this idea, and I remember reading that many annuity guys are doing the same, and getting in the door much more often, rather then calling the prospect to set up the appointment.
What do you all think?
Edward
Last edited by edwong3 : 03-09-2008 at 11:21 PM.
Reason: Added another sentence.
Any lead comes to you ,you should follow up with a call and then if you are in the area stop by and knock on the door .
i tried to stop by but here the deal :
1/spending a lot of gas (sometimes they are not even home)
2/wasting a lot of time commuting while you can get the appointment over the phone.
D2D may work in many parts of the country but here in my area of Northern CA, no one in their right mind would let a stranger into their home, much less even open the door... especially a senior.
Our papers are filled with stories of home invasions and many of them violent. Add to that the "reputation" of D2D "con men" and I'd say it is a waste of time.
I know the Edward Jones brokers go D2D but I doubt they do very well.
It may work better in lower class neighborhoods, but if you go down the street and start knocking on the doors of million dollar homes, someone is going to call the cops on you.
Many people have a fense around their homes (to keep the dog in... and you OUT!) with "No soliciting" signs on the gate. If you come through my gate and knock on my door, especially after dark, you MIGHT find the barrel of my pistol-grip Mossberg 500 Cruiser 20 gauge pointed at a very sensitive part of your anatomy.
DM and Seniors, yea go to the door and show them the DM lead, even though some still insist they don't remember filling it out! Sterling does a lot that way, it works.
D2D may work in many parts of the country but here in my area of Northern CA, no one in their right mind would let a stranger into their home, much less even open the door... especially a senior.
Our papers are filled with stories of home invasions and many of them violent. Add to that the "reputation" of D2D "con men" and I'd say it is a waste of time.
I know the Edward Jones brokers go D2D but I doubt they do very well.
It may work better in lower class neighborhoods, but if you go down the street and start knocking on the doors of million dollar homes, someone is going to call the cops on you.
Many people have a fense around their homes (to keep the dog in... and you OUT!) with "No soliciting" signs on the gate. If you come through my gate and knock on my door, especially after dark, you MIGHT find the barrel of my pistol-grip Mossberg 500 Cruiser 20 gauge pointed at a very sensitive part of your anatomy.
You are barking up the wrong tree if you are trying to sell FE to people in million dollar homes.
Are you kidding? People with million dollar homes have less liquid cash than your average Joe-Sixpack. Most are mortgaged to the hilt. And most of them are the worst money-managers you ever met.
I've not tried to sell it, but my guess is that if you pitched FE to wealthy people as "Something your family just won't have t worry about.... considering all the other estate issues they will have to deal with" would be a viable sale.
Are you kidding? People with million dollar homes have less liquid cash than your average Joe-Sixpack. Most are mortgaged to the hilt. And most of them are the worst money-managers you ever met.
I've not tried to sell it, but my guess is that if you pitched FE to wealthy people as "Something your family just won't have t worry about.... considering all the other estate issues they will have to deal with" would be a viable sale.
YMMV.
Al
Once again you are correct! The target market for $5,000 whole life policies is definitely homeowners with large mortgages.
I'm immediately going to do a mailing into Beverly Hills. That should be a great area to prospect!
If you have very few leads to run, then definitely drive by and introduce your self in person.
If you have a lot of leads, call to set appointments. People who don't set an appointment will tell you they thought you were just going to mail something. Don't argrue, just agree to send them an info packet bbut instead of mailing it, drop it by in person.
That way, you run your best leads first (the ones that set appointments on the phone) and you don't waste the other leads that want something mailed without a making your best attempt in person.
You'll have to check state law as well, in some states you just can't show up at a senior's home.
Here in Florida it's not illegal to do that. I remember another FE agent that I spoke with last year, also door knocks, and gets good results. Thanks for the input
If you have very few leads to run, then definitely drive by and introduce your self in person.
If you have a lot of leads, call to set appointments. People who don't set an appointment will tell you they thought you were just going to mail something. Don't argrue, just agree to send them an info packet bbut instead of mailing it, drop it by in person.
That way, you run your best leads first (the ones that set appointments on the phone) and you don't waste the other leads that want something mailed without a making your best attempt in person.
FE Sales...Call first, or drive by?
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