I need a pep talk ... I have put everything on the line to be an insurance agent. Got all my ducks in a row ... ready to take on the world ...however, i got nowhere today during my first day of calling up Seniors to sell them med sups.My family is depending on me to do well at this so I need a pick me up ... if you can offer one ...
I agree with others in that you probably need to come up with a marketing plan, someway to generate leads. However, I would also add that the more one works at any type of calling including cold calling the better one gets. Most of us are usually not very good at the start. If you cold call you need develop a good workable script and need to stick with it. On this subject read Bill Good.
While cold calling may not be the preferred marketing choice of many, it works for some agents.
Have you internalized the script and made it your own? You may just need more practice with it.
50 calls is a very small sample. You should be able to make 25 calls an hour. Stop goofing off between calls and crank for an hour non-stop, then get up and clear you head for five minutes.
When you get someone on the phone, you should set the appointment and be off the phone in five minutes. Stop trying to be their friend and waxing about Alabama. You're a busy agent on a mission to avoid living in the van down by the river.
Set a new goal -- 200 dials a day.
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Hey Frank, Your goat's are inspirational!
Cold calling for med supps? I would rather light my hair on fire with gasoline and with a roman candle in my mouth. look, here's the deal. and I'm serious:
You can cold call by knocking doors with life insurance. I do it all the time. final expense. then, once in the house, then you can ask them about med supps, if they are seniors. you need a door opener. med supps are not a good door opener. the phone, nobody wants to discuss med supps on the phone.
The next thing I would do is sell underage health. {under 65 } then, you go business to business to business talking health insurance. some of these guys who are business owners, have a mom or dad or uncle who needs a med supp- or they have a senior working there.
Then, you hook up with a P&C guy who only writes car and homeowners and really does not care to write supps, he sends you supps. then you hook up with a captive life guy { like liberty national agent, agla agent, somebody like that } who never writes supps. they send you the supps that they can't write because they are captive. then you hook up with a financial planner guy who never writes supps.
Then you go to a senior center or some sort of "advocates for seniors". I somehow got on the list of like a retirement coach at the social security office- somehow. or some senior beareau. I have no idea how. I don't remember what this office was, but they called me and they sounded official. the phone would ring and the voice would say, "hey this person is turning 65, show them a supp..." I still have no idea how that happened, but I got about three or four sales a year that way. that was 20 years ago.
I have put everything on the line to be an insurance agent.
Got all my ducks in a row ... ready to take on the world ...
However, i got nowhere today during my first day of calling up Seniors to sell them med sups.
My family is depending on me to do well at this so I need a pick me up ... if you can offer one ...
If it's someone that is beyond age 65, your odds of changing what they've got are...slim and none. You have to find someone that is unhappy with their companies rates or coverage.
What I do is get a listing of the 50 and above crowd...and in Florida and lower Alabama it has to be names that are not on the "do not call" list. Find those that are turning 65 in 3-6 months and call them...their your best names to call. Others(beyond 65), would say they had coverage through a former employer, through a current employer, through Tricare. Most of those you won't write. Some would bite... that had coverage through their job or former job, that were unhappy with it and I've written. Tricare is almost impossible to replace. Some would say they don't have anything...a few you can write. Most will say they can't afford it.
If you're just calling those that are already insured it can be a tough task. Sometimes I've had success...other days none. It can be depressing. Don't give up. What other choices do you have? Knocking on doors? I haven't knocked on a door/cold canvass, in 15 years. I hate doing it. I haven't done any seminar type in years either.
I like talking on the phone with leads, but it isn't easy. I tell folks I'm calling to see if I can help with their health coverage...Medicare and supplement...tell them the companies I represent and go from there. Sometimes you'll hit one...sometimes you'll hit a few. I live in a small community...born here...have lived here 30 years...can usually tell the person I'm talking to, a neighbor in their area that has coverage with me...that helps too.
And I'm not saying cold canvassing and seminars don't work....I just don't feel as comfortable doing that. It works for a lot of other agents.
I have put everything on the line to be an insurance agent.
Got all my ducks in a row ... ready to take on the world ...
However, i got nowhere today during my first day of calling up Seniors to sell them med sups.
My family is depending on me to do well at this so I need a pick me up ... if you can offer one ...
And just another side note, regardless of whether you went about it right or wrong, if you are discouraged after just one day in the business, you need to step back and re-evaluate if you are designed to be in business for yourself.
It doesn't matter what you are trying to accomplish, it takes more than a day to make things happen. All business ventures take persistency and an understanding that many days are going to be a complete failure.
I realize you want a pep talk and somebody to tell you that it is going to be okay, but I can't promise that it will. If you have what it takes, then you will succeed. There are alot of people on this board that will give you good ideas to help you succeed, but we aren't shrinks. You're going to have to suck it up and make it happen. Best of luck to you.
Also, don't limit your call to med-supps....what about a cancer policy as a door-opener and then get the supp. in a year or 2? What about final expense? Even if they have it I'll ask...for how long...company name...face amount and premium... I've then looked up rates for companies I write for...told them I could save money vs. what their paying, made an appt. and wrote them.
Don't give up on a plan just after 1 day of trying. Some of the people that I look up to the most, were failures in the beginning. The difference is they didn't give up. This is a skill, or a craft. You have to learn it and don't give up on it. Don't reinvent the wheel. Find another agent that is good at this, and copy what they are doing.
Cold Calling is not for everyone. It is really hard until you learn the tricks of how to do it. But you will only learn how to do it, after messing up a million times and not giving up. It is also a numbers game. I was happy if just 1 out of 50 people that answered the phone, said yes to me. When I say yes, I mean yes to allowing me to come out and see them.
Also, if you were the person on the other end of the phone, what would you think about what you are saying to them. Have a game plan, not a script. Every phone call is different. Don't be a robot and only in sales mood. Talk to them like you talking to your best friend. Get them talking about the weather and how cheap gas prices are. It will open them up a little bit.
The biggest things it to let them know they have a big problem and that you have the answer for it. This works in all markets.
It took me almost 6 months to where I thought I was good at cold calling and got great results from it. My first day, I sucked and hell, I would have hung up on me. I had to get over being afraid to talk to strangers and then I had to learn, what they wanted to talk about.
Also, don't call people early in the morning or late at night. Ask them if they have a minute to talk. It is a numbers game. Don't get upset if they hang up on you or even cuss you out.
I don't do med sups. But cold calling is cold calling. Find their problem and fix it. You have the solution to their problem. Your services are free to them and you just want to come out and see them in person and help them. Don't try to sell it over the phone. Just get the appointment.
You must believe in yourself, for other to believe in you.
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Mark Rosenthal aka markingriffin
IMO/Ins Agent/Agent Trainer/Free Advice markcrosenthal@aol.comwww.realfastservice.com
Please visit mywebsite to learn more about me.
Email me for my Free Prospecting MP3 Tapes.
Selling Med Supps is not rocket science. Done correctly it can be one of the easiest products to sell. Everyone 65 and over is on Medicare. Medicare does not pay all of their health expenses and the vast majority of seniors feel that they need some kind of insurance to supplement what Medicare does not pay.
The agent does not have to try to create the need for additional insurance beyond just Medicare. The need already exist in the seniors mind.
Knowing that, all one has to do is convince the prospect that you have a better deal and are a more concerned, service oriented agent than the next guy. In other words, you are selling yourself as much as you are selling insurance.
Seminars can work, I have done many at the request of seniors but I feel my time is better spent using other methods to prospect in the senior market.
Aligning yourself with other agents who do not offer Med Supps can be very successful but only after you have achieved a degree of success yourself. You are going to have to convince the other agent you are a professional and can be trusted with his clients.
"Leads", one of my favorite subjects. Direct mail "leads" are nothing more than a very expensive name, address and phone number. I have worked thousands of direct mail "leads" and not once has a senior said they remember filling out the card and sending it in.
Age groups to target. Seniors turning 65 are, in my experience, the most difficult to sell. They know a lot more than I do. It isn't until they are around 67 before they realize that the guy next door may not be an expert on Medicare and Medicare Supplement insurance. Target seniors between 67 and 78.
After spending one day, calling 50 people you think you need help. That's like the guy saying he has been married for one day and thinks married life is great.
Talk to me after spending 50 days calling 5,000 people and not selling anything. That is when you have a problem.
Right now, since you have only been an insurance agent for "one day", what you need to do is keep learning everything about Medicare and the options available to seniors. I mean literally become a Medicare expert. It will help your confidence level tremendously.
Be extremely well organized and keep accurate records of every phone call you make. And, most important of all, practice, practice, and practice some more. Your phone speil will not become smooth in just one day or after only 50 calls.
Your job right now is to make mistakes, learn from those mistakes and try to make fewer each day. Purchasing a list is the most cost effective way of having a lot of people to call to "practice" on.
------------------------------------ Professional Medicare Supplement Sales Training, Coaching and Support.
"The Perfect Contact Management Program (CMP) for the Insurance Professional" www.YourInsuranceOffice.com
877.633.0808
Selling Med Supps is not rocket science. Done correctly it can be one of the easiest products to sell. Everyone 65 and over is on Medicare. Medicare does not pay all of their health expenses and the vast majority of seniors feel that they need some kind of insurance to supplement what Medicare does not pay.
The agent does not have to try to create the need for additional insurance beyond just Medicare. The need already exist in the seniors mind.
Knowing that, all one has to do is convince the prospect that you have a better deal and are a more concerned, service oriented agent than the next guy. In other words, you are selling yourself as much as you are selling insurance.
Seminars can work, I have done many at the request of seniors but I feel my time is better spent using other methods to prospect in the senior market.
Aligning yourself with other agents who do not offer Med Supps can be very successful but only after you have achieved a degree of success yourself. You are going to have to convince the other agent you are a professional and can be trusted with his clients.
"Leads", one of my favorite subjects. Direct mail "leads" are nothing more than a very expensive name, address and phone number. I have worked thousands of direct mail "leads" and not once has a senior said they remember filling out the card and sending it in.
Age groups to target. Seniors turning 65 are, in my experience, the most difficult to sell. They know a lot more than I do. It isn't until they are around 67 before they realize that the guy next door may not be an expert on Medicare and Medicare Supplement insurance. Target seniors between 67 and 78.
After spending one day, calling 50 people you think you need help. That's like the guy saying he has been married for one day and thinks married life is great.
Talk to me after spending 50 days calling 5,000 people and not selling anything. That is when you have a problem.
Right now, since you have only been an insurance agent for "one day", what you need to do is keep learning everything about Medicare and the options available to seniors. I mean literally become a Medicare expert. It will help your confidence level tremendously.
Be extremely well organized and keep accurate records of every phone call you make. And, most important of all, practice, practice, and practice some more. Your phone speil will not become smooth in just one day or after only 50 calls.
Your job right now is to make mistakes, learn from those mistakes and try to make fewer each day. Purchasing a list is the most cost effective way of having a lot of people to call to "practice" on.
Good targeted advice. Medicare Supps is a very specific market and is a world apart from other types of insurance and sales.
Jody108 listen to this man, he is one of the few that knows what he's talking about.
Last edited by bill3173 : 12-03-2008 at 08:41 AM.
Reason: words left out
A cold call day can seem like freezing in July. Two years knocking on doors as a missionary (LDS - Austria) did not make it easy to face locked doors and bad lead addresses. Sales commissions are high to make it worth the trouble to earn them -- keep at it!
Insurance is the free enterprise means of preserving people's dignity.
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I thought this WAS a real job!
First day cold calling a FLOP
Atlanta ...
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