Cold Call Pros: How Much Do You Qualify Before Setting the Appointment?

[Rearden]

I know this will vary from product to product, but...

What do you need to know on a cold call before you close for an appointment?

Why do you prefer your method of appointment-setting, and how dd you arrive to the method your using now?

For those of you who won't go without high-odds you'll colect a check, do you think you lose potential business because you sense a level of need or urgency that's there a little but not a lot?

For those of you who cold call for FE and or Med Supps, what do you DEFINITELY need to know before setting an appointment?

Thanks.

 

[Wtprice]

I know this will vary from product to product, but...

What do you need to know on a cold call before you close for an appointment?

Why do you prefer your method of appointment-setting, and how dd you arrive to the method your using now?

For those of you who won't go without high-odds you'll colect a check, do you think you lose potential business because you sense a level of need or urgency that's there a little but not a lot?

For those of you who cold call for FE and or Med Supps, what do you DEFINITELY need to know before setting an appointment?

Thanks.

Frank's system for Med Supps was the following:

Who are they with?
How much they pay?
How much the insurance your are offering costs each month?
Do they qualify with general health questions?

Without those four things, he didn't set the appointment.

The great thing is if you know who they are with and how old they are, you have a good idea what they're paying. When a rate increase came up, he'd just call them and quote them a price if he could save money. In other words, it's a solid prospect.

 

[Justin Bilyj]

Nothing!

You can write anything!

The only thing that is an iffy when looking at telescripts was the asking if they bank locally for a discount. Other than that, I would measure the data like this, x data is something I can go visit for an appointment with less qualification than y data which is farther than x data.

In addition to distance, ask yourself, what would you prequalify that gives you the most trouble at your current appointments?
Is it level of interest?
Bank account?
Can you beat what they currently have if they are shopping?

Also I wouldn't call it final expense insurance, its a term agents use, people who need a plan call it burial insurance. Kids buying for their parents like funeral insurance.

 

[Josh]

Nothing!

I almost completely agree with that.

Seniors are constantly told "don't tell anyone you banking information over the phone" and "don't give anyone your health information" (for whatever reason). Because of that, you could take a legitimately interested prospect and turn them off so you usually end up filtering out more good prospects than cutting down on the "bad" ones.

 

[somarco]

I very rarely have a problem qualifying people over the phone. Always amazed at how willing they are to discuss health history, give me banking information, SSN, etc.

 

[JENKI224]

I very rarely have a problem qualifying people over the phone. Always amazed at how willing they are to discuss health history, give me banking information, SSN, etc.

I always thought qualifying is how you get them interested with open ended questions

 

[Wtprice]

I always thought qualifying is how you get them interested with open ended questions

I think the difference is health qualifying vs value qualifying. Meaning, you may ask them about needs, but you aren't asking them health questions. Personally, I feel sketchy about going on any appointment without knowing basic health information. With an accept/deny application, the questions are important to ensure I know which company is the most likely to get them approved and that they know the rate is *prior* to me heading out.

Obviously, there are different ways to succeed. So, YMMV.

 

[somarco]

I always thought qualifying is how you get them interested with open ended questions

I try to ask questions that are probing without being intrusive, but also designed to give me some insight in to what they are looking for. If they agree to talk to you, there is a problem they are trying to solve. If you can't learn the problem, you will never make the sale.

Why are you looking for . . .?
How long have you been looking?
What have you seen that you like?
What have you looked at that you don't like?
Why haven't you bought?

If they have a policy now, "Other than price, tell me what you DON'T like about your current plan".

If I can open up a dialogue with any or all of the above I stand a good chance of making a sale. If they won't engage in dialogue, I am wasting my time and theirs.

I think the difference is health qualifying vs value qualifying

It is not either/or, it is both.

Some products, such as T65 Medigap, health is not an issue. Tobacco use is the only concern.

For major medical, health is extremely important. They can have the desire and money but if they can't qualify, no reason to spend much time with them.

 

[Rearden]

Thanks Mr. Somarco.

It sounds like you qualify to the point to where you don't visit the prospect until you're reasonably-assured you'll collect a check (assuming you're not doing everything electronically over the internet).

Question -- do you feel like you ever lose business by qualifying interest/ability/need/health too much?

Boy, does that sound like a stupid question, but am personally wondering why anyone would drive 50 miles one way to an appointment without establishing the basics of what one's trying to accomplish (although I have done that regularly...).

I try to ask questions that are probing without being intrusive, but also designed to give me some insight in to what they are looking for. If they agree to talk to you, there is a problem they are trying to solve. If you can't learn the problem, you will never make the sale.

Why are you looking for . . .?
How long have you been looking?
What have you seen that you like?
What have you looked at that you don't like?
Why haven't you bought?

If they have a policy now, "Other than price, tell me what you DON'T like about your current plan".

If I can open up a dialogue with any or all of the above I stand a good chance of making a sale. If they won't engage in dialogue, I am wasting my time and theirs.




It is not either/or, it is both.

Some products, such as T65 Medigap, health is not an issue. Tobacco use is the only concern.

For major medical, health is extremely important. They can have the desire and money but if they can't qualify, no reason to spend much time with them.

 

[Justin Bilyj]

Somarco doesn't do FE, he was a health man made suppman after the fall of health insurance.

I think with health insurance or even med supps its ok to qualify alot over the phone, but FE is different, different income-class segment.
Not saying you can't qualify over the phone for FE but what would you like to establish before seeing them? A bank account? What is tripping you up?