Pre-Approach Letters?

[Advisor06]

I was wondering if any of you guys still send out pre-approach letters for life, ltc, annuities to prospects or existing clients who have insurance to try to gain an appointment?

I currently send out e-mails and postcards but that is more or less just for marketing.

Not sure if it's a waste of money or if it helps during the call process....Sometimes I think the people never remember getting the letter or just throw it away.

Thanks!

 

[xrac]

I was wondering if any of you guys still send out pre-approach letters for life, ltc, annuities to prospects or existing clients who have insurance to try to gain an appointment?

I currently send out e-mails and postcards but that is more or less just for marketing.

Not sure if it's a waste of money or if it helps during the call process....Sometimes I think the people never remember getting the letter or just throw it away.

Thanks!

It is probably a waste of money but do it if it makes you feel better.

 

[Advisor06]

It is probably a waste of money but do it if it makes you feel better.

I don't want to do what makes me feel better I want to do what is best for me to make money.

 

[Newby]

I've always worked with snail mail preapproach and follow up letters.

To do it effectively you have to have an automated system. You send out the letters, call to set appointment OR qualify them. They are going to be either 1. Ready now 2. Ready later or 3. No interest

It's the ready later people that most agents lose out on. They can't keep track of them. And they can be a HUGE part of your sales.

I use the Activator software from Mastermind. It works well. There are others that are probably good too.
Activator Your Key to CRM on demand from Mastermind

 

[WinoBlues]

I do some. I mail mostly to my own BoB. And maybe old quotes or referrals. Works well for me.

 

[NCnatwidagent]

In the past I've done some small mail campaigns , like sending out 100 mailers in a week. I learned quickly that I could not contact all of them before I wanted to send more out. And I learned quickly that the response rate is very low.
Now, I send out 10 per week and its only to make the call a "warm" call. Its easier to say..."Hey, did you get my letter" and go from that.
Pre-approach letters are just one thing amongst many other prospecting activities that I do.

 

[tins]

When I was with my former agency a couple years back, we worked pre-approach for months. Worked out great as far as sales go.
They would send out 40-50 letters within a 5-10 mile radius. We would plug all the address in our GPSs. Show up to the home and use this script:

Hi, I'm ____ with ____. Are you _____?
Mr/s ____, you recently received this letter (point to copy of the letter that was mailed out), and I am ____ as was mentioned in the letter.
I'm here to go over that questionaire that was mentioned.
Do you have a few minutes?

It was cheap to send those letters. It was just a way to feel more comfortable showing up at somebody's home. Still, the biggest sale I've ever made was with this method (a med supp & $286/month FE to a gentleman).

 

[Frank Stastny]

When I was with my former agency a couple years back, we worked pre-approach for months. Worked out great as far as sales go.
They would send out 40-50 letters within a 5-10 mile radius. We would plug all the address in our GPSs. Show up to the home and use this script:

Hi, I'm ____ with ____. Are you _____?
Mr/s ____, you recently received this letter (point to copy of the letter that was mailed out), and I am ____ as was mentioned in the letter.
I'm here to go over that questionaire that was mentioned.
Do you have a few minutes?

It was cheap to send those letters. It was just a way to feel more comfortable showing up at somebody's home. Still, the biggest sale I've ever made was with this method (a med supp & $286/month FE to a gentleman).

That is pretty smooth. Obviously the key to doing it successfully is to knock on their door.

Are you still doing that now that you are independent or did it work so well that you don't do it anymore?

 

[xrac]

What I have learned is that activity will be rewarded. Knock on a door, pick up a telephone but if you send a letter what you do about followup after you send the letter is more important than the content. Send the letter if it makes you feet better but where the rubber meets the road is activity.

That is what struck me after reading the book "Nothing is Impossible" about how Mehdi Fakharzadeh Mehdi had everything against him. He spoke very poor English and knew nothing about insurance. Metlife didn't want to hire him but finally did. He became perhaps the greatest producer they ever had. How did he do it. Is activity level was incredible and he never gave up.

 

[Larry Tew]

I use pre-approach letters. Here's on I use frequently:

Dear Bob,

Do you feel like your financial life is all screwed up, nothing seeming to be what it should be? All my clients used to feel that way before they had the pleasure of working with me. I show people how to make sense of their wealth creation options by a process of decomplification that all the major corporations throughout the world use.

Bob, the problem is that we are taught to do things a certain way. Usually, it is the wrong way. That’s why the people who are fortunate enough to get a chance to work with me no longer have those problems. I make sure my clients are making financial choices that are not just in my best interests, but theirs as well.

I’ll call in a few days to let you know when we’ll be getting together. I don’t charge a fee for our initial consultation, and there’s nothing to buy. That doesn’t come until the 2nd meeting.

I’m sure you’ll agree that the commissions I make off of you are worth it by the time we’re done.

Ethically yours,

Ben Dover