Should I Leave EFES?

[GAInsuranceGal]

Good morning all.

It's been a while since being in the forums. At the time of my last post 2 1/2 years ago, I was new to insurance and have been spending a lot of time learning more about final expense sales.

Now I've learned a lot and am grateful for all that I have learned. This past July, August, and September. I was able to pump out $12,500 to over 15k in AP off of 15 mail leads a week. I was thinking I think I've gotten my groove. Until...

EFES changed it's lead card and demographics. And since August 16, 2014, here are the stats on the weekly mail leads. Mail leads are usually put in the agent's mailbox every Saturday. I've requested 15 mail leads every week.

8/16 - 2 mail leads
8/23 - 15 mail leads
8/30 - 6 mail leads - Over the weekend, more came in and I received 10 more leads on Monday.
9/6 - 10 mail leads
9/13 - 21 mail leads - These were not my leads. These leads were leads that were left from an agent that left the EFES. I got a discounted price on these.
9/20 - 22 mail leads - Again these were not my leads, but the leads of the agent that left. EFES said they needed to build up my leads in my territory. These were discounted, so I seized the opportunity.
9/27 - 6 mail leads - To supplement these leads, I purchased 4 Excess A leads outside of my territory.
10/6 - 13 mail leads - No leads in my area. These were leads from the same agent that left. These leads came Saturday.
10/15 - 15 mail leads in my territory.
10/18 - 14 mail leads in my territory - 7 of them were from non English speaking prospects
10/25 - 15 mail leads in my territory
11/1 - 11 mail leads on Saturday, 4 more came on Monday when I let EFES know I was short leads.
11/8 - 15 mail leads in my territory
11/13-11/14 - I wanted to go from 15 to 20 leads per week, so I requested 5 tele-leads. However I received 7 tele-leads about 1hr-1.5hrs outside of the territory I requested (I was working in a concentrated area) and they came 2 days late.
11/15 - 7 mail leads

As you can see, in the past 3 months, most of the weeks I have received less than 15 mail leads, and yet I still pulled over $12k/month (I had older leads to still see.). But in October, I made $8K AP.

In October, I've spoken with home office about the new leads and the whole lead process and how they generate mail leads and I was assured that this is temporary. However today I'm short leads. It was also explained to me (which I already knew) that Georgia has a bad rate of return for mail leads (about .1-.4%). However I never hear about the top agents at EFES having a problem with lead flow, even the ones here in Georgia. I'm feeling like if I was a top agent with EFES, I wouldn't have this problem because more mail would be dropped. There has been other issues that have been bothering me (I won't get into them here.), so now I'm wondering if I should move on. Don't get me wrong, EFES has been a great opportunity for me to learn the final expense business. I have learned a lot from their business model. But unfortunately, I don't have anybody else to rely on financially, so I'm not sure if I can hang around until this gets worked out. So now I'm at a crossroad.

Also, I checked with a couple of other IMOs, and their leads cost more than $24/lead (the maximum amount EFES charges). I currently am paying $21-$22 per lead at EFES. Based on my numbers, I could get my lead cost down to $16. However with other IMOs, the cost per lead is about $28 and it is set at this price and they can't guarantee 15-20 leads a week. I also have a protected territory at EFES that I don't think any other IMO can guarantee. There are a lot of final expense agents in Georgia, so I think a protected area is important too, right?

What would you do if you were in my shoes?

 

[Agentguy5]

You might want to use these issues as a reason to ask for a raise.... for starters!

Bumping your contract level up 10 points will keep you with them and then they don't have to worry about you leaving.

Winner winner, chicken dinner!!!

 

[Gooner]

A protected area doesn't matter at all. Sure from EFES agents, but what about the other 1000 agents mailing that same area. I'm in GA too...I feel your pain.

We are just in a situation where I'm glad we have the option to do fixed leads at all. BTW, paying $6/lead more (forget about what you could get leads for, you've been at this for 2 years and haven't attained it yet). $28/lead and 100-120% contracts will put you in a much better situation

 

[Newby]

Good morning all. It's been a while since being in the forums. At the time of my last post 2 1/2 years ago, I was new to insurance and have been spending a lot of time learning more about final expense sales. Now I've learned a lot and am grateful for all that I have learned. This past July, August, and September. I was able to pump out $12,500 to over 15k in AP off of 15 mail leads a week. I was thinking I think I've gotten my groove. Until... EFES changed it's lead card and demographics. And since August 16, 2014, here are the stats on the weekly mail leads. Mail leads are usually put in the agent's mailbox every Saturday. I've requested 15 mail leads every week. 8/16 - 2 mail leads 8/23 - 15 mail leads 8/30 - 6 mail leads - Over the weekend, more came in and I received 10 more leads on Monday. 9/6 - 10 mail leads 9/13 - 21 mail leads - These were not my leads. These leads were leads that were left from an agent that left the EFES. I got a discounted price on these. 9/20 - 22 mail leads - Again these were not my leads, but the leads of the agent that left. EFES said they needed to build up my leads in my territory. These were discounted, so I seized the opportunity. 9/27 - 6 mail leads - To supplement these leads, I purchased 4 Excess A leads outside of my territory. 10/6 - 13 mail leads - No leads in my area. These were leads from the same agent that left. These leads came Saturday. 10/15 - 15 mail leads in my territory. 10/18 - 14 mail leads in my territory - 7 of them were from non English speaking prospects 10/25 - 15 mail leads in my territory 11/1 - 11 mail leads on Saturday, 4 more came on Monday when I let EFES know I was short leads. 11/8 - 15 mail leads in my territory 11/13-11/14 - I wanted to go from 15 to 20 leads per week, so I requested 5 tele-leads. However I received 7 tele-leads about 1hr-1.5hrs outside of the territory I requested (I was working in a concentrated area) and they came 2 days late. 11/15 - 7 mail leads As you can see, in the past 3 months, most of the weeks I have received less than 15 mail leads, and yet I still pulled over $12k/month (I had older leads to still see.). But in October, I made $8K AP. In October, I've spoken with home office about the new leads and the whole lead process and how they generate mail leads and I was assured that this is temporary. However today I'm short leads. It was also explained to me (which I already knew) that Georgia has a bad rate of return for mail leads (about .1-.4%). However I never hear about the top agents at EFES having a problem with lead flow, even the ones here in Georgia. I'm feeling like if I was a top agent with EFES, I wouldn't have this problem because more mail would be dropped. There has been other issues that have been bothering me (I won't get into them here.), so now I'm wondering if I should move on. Don't get me wrong, EFES has been a great opportunity for me to learn the final expense business. I have learned a lot from their business model. But unfortunately, I don't have anybody else to rely on financially, so I'm not sure if I can hang around until this gets worked out. So now I'm at a crossroad. Also, I checked with a couple of other IMOs, and their leads cost more than $24/lead (the maximum amount EFES charges). I currently am paying $21-$22 per lead at EFES. Based on my numbers, I could get my lead cost down to $16. However with other IMOs, the cost per lead is about $28 and it is set at this price and they can't guarantee 15-20 leads a week. I also have a protected territory at EFES that I don't think any other IMO can guarantee. There are a lot of final expense agents in Georgia, so I think a protected area is important too, right? What would you do if you were in my shoes?

It sounds like you are focusing on number of leads and cost of leads rather than the important numbers which are obviously dollar spent on leads compared to return on investment.

Direct mail is tougher in Georgia. Especially around the Atlanta area. You are being dependent on your IMO for your leads. In my mind, that has always been a bad thing to do because it puts you in a weaker position as an independent agent. However if you have reason that you can only work in a bad lead return area, then staying on some type of a set price lead program is your best move. If I were you, I would want to really learn the business and that for me has always involved working directly with my mail houses (no middle men) and finding where the good lead return areas are. If you do that and combine it with higher commissions and mix in other sources of leads in addition to direct mail, you will become a better well rounded agent and won't be so dependent on your up line for your success.

Protected territory? I didn't get the memo. If you live in the USA, you do not have a protected territory. So get over that thought. EFES is one of a bagillion agencies selling FE in Georgia. No one has a protected territory.

 

[rousemark]

Good morning all.

It's been a while since being in the forums. At the time of my last post 2 1/2 years ago, I was new to insurance and have been spending a lot of time learning more about final expense sales.

Now I've learned a lot and am grateful for all that I have learned. This past July, August, and September. I was able to pump out $12,500 to over 15k in AP off of 15 mail leads a week. I was thinking I think I've gotten my groove. Until...

EFES changed it's lead card and demographics. And since August 16, 2014, here are the stats on the weekly mail leads. Mail leads are usually put in the agent's mailbox every Saturday. I've requested 15 mail leads every week.

8/16 - 2 mail leads
8/23 - 15 mail leads
8/30 - 6 mail leads - Over the weekend, more came in and I received 10 more leads on Monday.
9/6 - 10 mail leads
9/13 - 21 mail leads - These were not my leads. These leads were leads that were left from an agent that left the EFES. I got a discounted price on these.
9/20 - 22 mail leads - Again these were not my leads, but the leads of the agent that left. EFES said they needed to build up my leads in my territory. These were discounted, so I seized the opportunity.
9/27 - 6 mail leads - To supplement these leads, I purchased 4 Excess A leads outside of my territory.
10/6 - 13 mail leads - No leads in my area. These were leads from the same agent that left. These leads came Saturday.
10/15 - 15 mail leads in my territory.
10/18 - 14 mail leads in my territory - 7 of them were from non English speaking prospects
10/25 - 15 mail leads in my territory
11/1 - 11 mail leads on Saturday, 4 more came on Monday when I let EFES know I was short leads.
11/8 - 15 mail leads in my territory
11/13-11/14 - I wanted to go from 15 to 20 leads per week, so I requested 5 tele-leads. However I received 7 tele-leads about 1hr-1.5hrs outside of the territory I requested (I was working in a concentrated area) and they came 2 days late.
11/15 - 7 mail leads

As you can see, in the past 3 months, most of the weeks I have received less than 15 mail leads, and yet I still pulled over $12k/month (I had older leads to still see.). But in October, I made $8K AP.

In October, I've spoken with home office about the new leads and the whole lead process and how they generate mail leads and I was assured that this is temporary. However today I'm short leads. It was also explained to me (which I already knew) that Georgia has a bad rate of return for mail leads (about .1-.4%). However I never hear about the top agents at EFES having a problem with lead flow, even the ones here in Georgia. I'm feeling like if I was a top agent with EFES, I wouldn't have this problem because more mail would be dropped. There has been other issues that have been bothering me (I won't get into them here.), so now I'm wondering if I should move on. Don't get me wrong, EFES has been a great opportunity for me to learn the final expense business. I have learned a lot from their business model. But unfortunately, I don't have anybody else to rely on financially, so I'm not sure if I can hang around until this gets worked out. So now I'm at a crossroad.

Also, I checked with a couple of other IMOs, and their leads cost more than $24/lead (the maximum amount EFES charges). I currently am paying $21-$22 per lead at EFES. Based on my numbers, I could get my lead cost down to $16. However with other IMOs, the cost per lead is about $28 and it is set at this price and they can't guarantee 15-20 leads a week. I also have a protected territory at EFES that I don't think any other IMO can guarantee. There are a lot of final expense agents in Georgia, so I think a protected area is important too, right?

What would you do if you were in my shoes?

What is your commission rate with EFES? You order 15 leads at $21, you pay $315. At $28 per lead you pay, $420 or $105 more. If you only write $2000AP off those leads, you will make $200 more in annual commission on a contract that is 10% higher than your contract.. That means you put $95 more in your pocket even though you paid more for the leads. If your current contract level is less than 110% for first year, (not to mention the fact true indy contracts also pay higher renewals) I suggest you speak with Scott (Newby) at FEXcontracting or one of the other IMOs on the forum.

 

[GAInsuranceGal]

You might want to use these issues as a reason to ask for a raise.... for starters!

Bumping your contract level up 10 points will keep you with them and then they don't have to worry about you leaving.

Winner winner, chicken dinner!!!

Thanks for the advice. When my manager left, they raised me 10% on all carriers.

----------

A protected area doesn't matter at all. Sure from EFES agents, but what about the other 1000 agents mailing that same area. I'm in GA too...I feel your pain.

Yes, I know I it's protected at EFES only which, so I thought, was important to me because when I was at NAA (yes when I was new believed the koolaid), they sold their leads to other NAA agents.

BTW, paying $6/lead more (forget about what you could get leads for, you've been at this for 2 years and haven't attained it yet). $28/lead and 100-120% contracts will put you in a much better situation

I'm currently at 95% with all carriers except Americo. Americo I'm at 110%.

I have previously got it down to $20/mail lead when the leads were coming in consistently.

----------

A protected area doesn't matter at all. Sure from EFES agents, but what about the other 1000 agents mailing that same area. I'm in GA too...I feel your pain.

Yes, I know I it's protected at EFES only which, so I thought, was important to me because when I was at NAA (yes when I was new believed the koolaid), they sold their leads to other NAA agents.

BTW, paying $6/lead more (forget about what you could get leads for, you've been at this for 2 years and haven't attained it yet). $28/lead and 100-120% contracts will put you in a much better situation

I'm currently at 95% with all carriers except Americo. Americo I'm at 110%.

I have previously got it down to $20/mail lead when the leads were coming in consistently.

----------

Protected territory? I didn't get the memo. If you live in the USA, you do not have a protected territory. So get over that thought. EFES is one of a bagillion agencies selling FE in Georgia. No one has a protected territory.

Yes, yes, I know. Not protected against other IMOs/mail houses. Just EFES.

 

[John Galt]

Good morning all.

It's been a while since being in the forums. At the time of my last post 2 1/2 years ago, I was new to insurance and have been spending a lot of time learning more about final expense sales.

Now I've learned a lot and am grateful for all that I have learned. This past July, August, and September. I was able to pump out $12,500 to over 15k in AP off of 15 mail leads a week. I was thinking I think I've gotten my groove. Until...

EFES changed it's lead card and demographics. And since August 16, 2014, here are the stats on the weekly mail leads. Mail leads are usually put in the agent's mailbox every Saturday. I've requested 15 mail leads every week.

8/16 - 2 mail leads
8/23 - 15 mail leads
8/30 - 6 mail leads - Over the weekend, more came in and I received 10 more leads on Monday.
9/6 - 10 mail leads
9/13 - 21 mail leads - These were not my leads. These leads were leads that were left from an agent that left the EFES. I got a discounted price on these.
9/20 - 22 mail leads - Again these were not my leads, but the leads of the agent that left. EFES said they needed to build up my leads in my territory. These were discounted, so I seized the opportunity.
9/27 - 6 mail leads - To supplement these leads, I purchased 4 Excess A leads outside of my territory.
10/6 - 13 mail leads - No leads in my area. These were leads from the same agent that left. These leads came Saturday.
10/15 - 15 mail leads in my territory.
10/18 - 14 mail leads in my territory - 7 of them were from non English speaking prospects
10/25 - 15 mail leads in my territory
11/1 - 11 mail leads on Saturday, 4 more came on Monday when I let EFES know I was short leads.
11/8 - 15 mail leads in my territory
11/13-11/14 - I wanted to go from 15 to 20 leads per week, so I requested 5 tele-leads. However I received 7 tele-leads about 1hr-1.5hrs outside of the territory I requested (I was working in a concentrated area) and they came 2 days late.
11/15 - 7 mail leads

As you can see, in the past 3 months, most of the weeks I have received less than 15 mail leads, and yet I still pulled over $12k/month (I had older leads to still see.). But in October, I made $8K AP.

In October, I've spoken with home office about the new leads and the whole lead process and how they generate mail leads and I was assured that this is temporary. However today I'm short leads. It was also explained to me (which I already knew) that Georgia has a bad rate of return for mail leads (about .1-.4%). However I never hear about the top agents at EFES having a problem with lead flow, even the ones here in Georgia. I'm feeling like if I was a top agent with EFES, I wouldn't have this problem because more mail would be dropped. There has been other issues that have been bothering me (I won't get into them here.), so now I'm wondering if I should move on. Don't get me wrong, EFES has been a great opportunity for me to learn the final expense business. I have learned a lot from their business model. But unfortunately, I don't have anybody else to rely on financially, so I'm not sure if I can hang around until this gets worked out. So now I'm at a crossroad.

Also, I checked with a couple of other IMOs, and their leads cost more than $24/lead (the maximum amount EFES charges). I currently am paying $21-$22 per lead at EFES. Based on my numbers, I could get my lead cost down to $16. However with other IMOs, the cost per lead is about $28 and it is set at this price and they can't guarantee 15-20 leads a week. I also have a protected territory at EFES that I don't think any other IMO can guarantee. There are a lot of final expense agents in Georgia, so I think a protected area is important too, right?

What would you do if you were in my shoes?

I read through everything, 95% is a terrible commission even if you got $10 leads. You need to join a new IMO and increase your pay, then find a dm fixed lead program. I am in north Atlanta and ga is very tough, that is why I have been traveling to other states, I don't really worry about lead flow as much now.

 

[GAInsuranceGal]

I suggest you speak with Scott (Newby) at FEXcontracting or one of the other IMOs on the forum.

I spoke with Scott, but because I live in the Atlanta area, he could not guarantee the amount of leads that would come in. I currently work in the northeast suburbs of Atlanta and even a couple of rural parts of Northeast Georgia. Scott said South Georgia has a better lead return, but not by much. Unfortunately I do not have the option of spending the night out in these areas when I have a nine-year-old and a seven-year-old at home. That will have to come later when the kids are in their teens or away at college.

 

[John Galt]

I spoke with Scott, but because I live in the Atlanta area, he could not guarantee the amount of leads that would come in. I currently work in the northeast suburbs of Atlanta and even a couple of rural parts of Northeast Georgia. Scott said South Georgia has a better lead return, but not by much. Unfortunately I do not have the option of spending the night out in these areas when I have a nine-year-old and a seven-year-old at home. That will have to come later when the kids are in their teens or away at college.

Yea if you are not willing to drive a little you may be in for a rude awakening, you don't have to stay overnight but you gotta be willing to drive a few hours one way, it is what it is, I hate it for you, it sux and you seem to be a really really good agent. If you ever need anything pm me, I live in Buford.

 

[bboman23]

I spoke with Scott, but because I live in the Atlanta area, he could not guarantee the amount of leads that would come in. I currently work in the northeast suburbs of Atlanta and even a couple of rural parts of Northeast Georgia. Scott said South Georgia has a better lead return, but not by much. Unfortunately I do not have the option of spending the night out in these areas when I have a nine-year-old and a seven-year-old at home. That will have to come later when the kids are in their teens or away at college.

Welcome to reach out to me if you need. $26 fixed price DM and way better than 95% contracts.
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