- Thread starter
- #41
- 6,994
You only get $2.50 for the whole year? You wouldn't get 5% every month? I just don't understand the renewal process I guess.
Is FE a Good Option?
- Thread starter HoosierLife
- Start date
- 18,988
No, in the case I used I would $2.50 everytime they renewed the policy. If they make theor payment every month I get $2.50 every month.
- 16,881
senior-advisor-indiana said:
No royalties but the kickbacks are excellent!
- 11,280
Newby said:
Is a kickback when you have a charge back and don't pay it? It kicks back to your upline?
- Thread starter
- #45
- 6,994
Ok so if I bought 15 leads a week, how many appts would I get on ave per week? I've been to equitas website and searched a few other places that say you should be able to sell 25% of the leads. But that doesn't tell me how many appts I would need to be running to get to that point.
I think I can fit 7-8 appts in a 12 hour day spacing them 1.5 hrs apart. So I would need 15 appts to fill 2 12 hr days. So should I shoot for 20 leads a week?
Also, what percentage of the leads turn into two sales for a husband/wife combo?
I think I can fit 7-8 appts in a 12 hour day spacing them 1.5 hrs apart. So I would need 15 appts to fill 2 12 hr days. So should I shoot for 20 leads a week?
Also, what percentage of the leads turn into two sales for a husband/wife combo?
- 680
I would say about 50% on average will set appts over the phone. Sometimes more, sometimes less. Depends on the market, how much telemarketing they get, etc. But the theory is if they read/fill out/mail back 'junk mail', then they'll likely set an appointment over the phone.
The marrieds are about 40-50% in my exp. but probably less. A surprising number of spouses are deceased by age 65-70, some are divorced, and some spouses already have a policy or don't purchase or can't qualify...marrieds are not ensured a double sale.
Besides it dosn't really matter how many set apts. You still door knock the ones that don't set apts, and even those who say on the phone "Not interested, and don't come out here". Once they see their handwriting on the mailer card, they usually change their tune.
The key is not 'appointments' the key is "ACTIVITY".
For me personally, to absolutly ensure 14-16 appointments I would want 25 leads.
To get more nitty gritty, to fill up only 2 specific days, instead of any of 5 days I might want 30 leads. (there will be people who absolutly can't see you on *your* 2 days in the field).
And even after you painstakenly set this all up, 30-50% of them will no-show or one-leg!!!!
The message here is don't buy 30 leads a week to work 2 days in the field, you'll go broke...so therefore you can't depend on 7-8 appointments a day.
All the numbers you need to know are:
#SoldApps = (30%)*(#Leads)
This includes singles, marrieds, people who won't set appt, people who died before you got there, people who moved, people who slam the door....you get the idea.
10 leads = 3 apps.
20 leads = 6 apps.
It is pointless and hopeless to think more into that, every batch of leads is as different as a snowflake or different day....or a box of chocolates.
Apps average $600 annual premium
Figure out how much you need to make, do the math in reverse = # of leads you should buy.
12 hours is a long day, if you do that 5 days a week.
Not so much if it's 2 days a week, esp if you put a 'rest' day in between.
2 12 hour days is more effective than 4 6 hour days...imho..
Get with an IMO, get 15 leads a week, try to stay in the same general region each week, you don't want to go 50 miles west one week and 50 miles east the next week.
After 90 days they circle back and re-mail the original zipcodes again. At this point you're going into the field with new leads AND the previous mailer's old leads....now you're getting busy...esp if they're all in the same 'region' so you could be at any lead w/in 1 hour.
I like to set appointments for the simply reason it gives myself a general 'geographic structure' to my day. I like to set them 2-3 hours apart, so I can do door knocks in-between.
I also like to call all leads before door knocking, so I can honestly say "But I did try to call and couldn't reach you, so that's why I had to drop by unanounced like this".
Add that up = I call all my new leads on sunday evening, anyone who will set an appointment Mon-Weds. I will take. ALL new leads get called. All old leads in the vicinity get called. I really don't like setting apts > 48hrs from my call. Apts set for Weds will generally need a reminder call...that call is also an opprotunity for them to bail, so I wish for voicemail on that one.
If I can get 3-4 apts each of Mon-Tues I am happy and hang up the phone after calling through the list once. I want a 9am to get me out there, I want a 12 noon, I want a 5pm and a 8pm. Geographic Structure to my Day.
If I don't have that, I call through the list again.
If they all make apts, at least 1.5 - 2hrs between. Esp in the begining, it will take longer to do the sale.
I don't bust my butt on the phone or call for 10 hours, or force myself to have 8 apts a day.
Even If I don't have any apts I still go into the field and door knock...
It seems if I can get right on top of the begining of the week with this structure, the rest of the week sort of falls into place. There will be re-scheduled apts from no-shows and one leggs. There will be folks you door knock who can't see you right then but set an appt for Thursday etc.
If I don't have anything setup for the next day, I can always pull over and make some calls for an hour about 5-6pm, or whenever I have a chance during 'prime time' hours.
For me, calling leads to set appts is like dropping leaflets before dropping a bomb...I'm simply giving them a fair shot to give me some input as to when it'd be ok for me to stop by....otherwise i'm still comming, no matter what.
FE is not a 'snipers' business. You can't make a fort 2 miles away and wait for that single shot.
FE is a sawed off shotgun biz, close range, blam blam blam, in and out, next house, blam blam blam. etc etc. It dosn't matter who is married or how many appts you set....when you open that door and start blasting, if no one's home, then no one's home.
You've got everything you need to start in this thread.
The only thing you need to do is:
1: figure out how many leads you want per week via the formula above
2: figure out WHEN you want to actually get that many per week
3: subtract 4 weeks from #2 above, and BEGIN THAT DAY. My guess is that date is now in the past (?)
Let us know how it works out, we all like to hear from the new guy's first days in the field!
The marrieds are about 40-50% in my exp. but probably less. A surprising number of spouses are deceased by age 65-70, some are divorced, and some spouses already have a policy or don't purchase or can't qualify...marrieds are not ensured a double sale.
Besides it dosn't really matter how many set apts. You still door knock the ones that don't set apts, and even those who say on the phone "Not interested, and don't come out here". Once they see their handwriting on the mailer card, they usually change their tune.
The key is not 'appointments' the key is "ACTIVITY".
For me personally, to absolutly ensure 14-16 appointments I would want 25 leads.
To get more nitty gritty, to fill up only 2 specific days, instead of any of 5 days I might want 30 leads. (there will be people who absolutly can't see you on *your* 2 days in the field).
And even after you painstakenly set this all up, 30-50% of them will no-show or one-leg!!!!
The message here is don't buy 30 leads a week to work 2 days in the field, you'll go broke...so therefore you can't depend on 7-8 appointments a day.
All the numbers you need to know are:
#SoldApps = (30%)*(#Leads)
This includes singles, marrieds, people who won't set appt, people who died before you got there, people who moved, people who slam the door....you get the idea.
10 leads = 3 apps.
20 leads = 6 apps.
It is pointless and hopeless to think more into that, every batch of leads is as different as a snowflake or different day....or a box of chocolates.
Apps average $600 annual premium
Figure out how much you need to make, do the math in reverse = # of leads you should buy.
12 hours is a long day, if you do that 5 days a week.
Not so much if it's 2 days a week, esp if you put a 'rest' day in between.
2 12 hour days is more effective than 4 6 hour days...imho..
Get with an IMO, get 15 leads a week, try to stay in the same general region each week, you don't want to go 50 miles west one week and 50 miles east the next week.
After 90 days they circle back and re-mail the original zipcodes again. At this point you're going into the field with new leads AND the previous mailer's old leads....now you're getting busy...esp if they're all in the same 'region' so you could be at any lead w/in 1 hour.
I like to set appointments for the simply reason it gives myself a general 'geographic structure' to my day. I like to set them 2-3 hours apart, so I can do door knocks in-between.
I also like to call all leads before door knocking, so I can honestly say "But I did try to call and couldn't reach you, so that's why I had to drop by unanounced like this".
Add that up = I call all my new leads on sunday evening, anyone who will set an appointment Mon-Weds. I will take. ALL new leads get called. All old leads in the vicinity get called. I really don't like setting apts > 48hrs from my call. Apts set for Weds will generally need a reminder call...that call is also an opprotunity for them to bail, so I wish for voicemail on that one.
If I can get 3-4 apts each of Mon-Tues I am happy and hang up the phone after calling through the list once. I want a 9am to get me out there, I want a 12 noon, I want a 5pm and a 8pm. Geographic Structure to my Day.
If I don't have that, I call through the list again.
If they all make apts, at least 1.5 - 2hrs between. Esp in the begining, it will take longer to do the sale.
I don't bust my butt on the phone or call for 10 hours, or force myself to have 8 apts a day.
Even If I don't have any apts I still go into the field and door knock...
It seems if I can get right on top of the begining of the week with this structure, the rest of the week sort of falls into place. There will be re-scheduled apts from no-shows and one leggs. There will be folks you door knock who can't see you right then but set an appt for Thursday etc.
If I don't have anything setup for the next day, I can always pull over and make some calls for an hour about 5-6pm, or whenever I have a chance during 'prime time' hours.
For me, calling leads to set appts is like dropping leaflets before dropping a bomb...I'm simply giving them a fair shot to give me some input as to when it'd be ok for me to stop by....otherwise i'm still comming, no matter what.
FE is not a 'snipers' business. You can't make a fort 2 miles away and wait for that single shot.
FE is a sawed off shotgun biz, close range, blam blam blam, in and out, next house, blam blam blam. etc etc. It dosn't matter who is married or how many appts you set....when you open that door and start blasting, if no one's home, then no one's home.
You've got everything you need to start in this thread.
The only thing you need to do is:
1: figure out how many leads you want per week via the formula above
2: figure out WHEN you want to actually get that many per week
3: subtract 4 weeks from #2 above, and BEGIN THAT DAY. My guess is that date is now in the past (?)
Let us know how it works out, we all like to hear from the new guy's first days in the field!
- Thread starter
- #48
- 6,994
Thanks paper, that's exactly what I was looking for. I will let you know how it goes, but it will be a little while. Have to wait and see how many classes I have next semester/what days/hours. I most likely wont start until the summer.
- 374
Hey Paper, great post. Thank you!!
I agree with most of what paperhanger said but I would suggest changing a couple of things. I schedule my appointments every hour and a half to 2 hours depending on how much distance is between them.
I like to schedule 10 12 2 and 4. Paper hanger stated 30 to 50% no shows but that is very high from what I see. I make sure they write my name, number and time down when I schedule the appointment and I also make sure they are to call me if they can not make the appointment so I can place someone else in their time slot and can re-schedule the next time I am going to be in the area, if I have the time. I want them to think I am a very busy man and its in their best interest to meet with me because I can save them money..
On the sheet of paper where I have my appointments listed I also list a name of hot prospects that won't schedule and others I have not been able to contact so if i do get stood up I can quickly see who I might want to just do a drive by with.
The vast majority of my leads can be met with during daylight hours. In 4 years I have never scheduled an appoijntment after 6 oclock. And most of my no shows are the appointments scheduled later in the day. Rarely do I leave an appointment after dark. Most of these buyers don't work and its not necessary to meet with them after 6
I like to schedule 10 12 2 and 4. Paper hanger stated 30 to 50% no shows but that is very high from what I see. I make sure they write my name, number and time down when I schedule the appointment and I also make sure they are to call me if they can not make the appointment so I can place someone else in their time slot and can re-schedule the next time I am going to be in the area, if I have the time. I want them to think I am a very busy man and its in their best interest to meet with me because I can save them money..
On the sheet of paper where I have my appointments listed I also list a name of hot prospects that won't schedule and others I have not been able to contact so if i do get stood up I can quickly see who I might want to just do a drive by with.
The vast majority of my leads can be met with during daylight hours. In 4 years I have never scheduled an appoijntment after 6 oclock. And most of my no shows are the appointments scheduled later in the day. Rarely do I leave an appointment after dark. Most of these buyers don't work and its not necessary to meet with them after 6
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