Cold Call Script For Annuities - Feedback Requested

You would be better off cold calling for Medicare supplements and then cross selling annuities. Much easier that way and probably more money.

Thank you for the feedback. I agree that is the best strategy and here's why I am not going in with it. I have an extensive background in annuities and know how they work and can explain them to people. For medicare, I just completed my AHIP training and I am submitting requests to become appointed with a few carriers. Also, medicare would not provide enough income for me and my family. I think the best approach may be to just mix it up and see what I get. If I am able to help people with their medicare, obviously that would open the door to other possibilities.
 
While your goal is admirable, I would bet a LOT of money that you won't meet it with cold calling.

I generally disagree with M&M about the viability of cold calling, but I'm inclined to agree with him here. Cold calling generally does work well on commodity type products such as health, medicare supplements, and P&C. Bigger ticket and more complicated products such as LTC and annuities tend to be significantly more difficult. More often those are relationship based sales. I know some folks that do market FE and/or Medicare as a way of getting paid to prospect for annuities by using those as door openers, but I'm not aware of anyone successfully cold calling for annuities.
 
I generally disagree with M&M about the viability of cold calling, but I'm inclined to agree with him here. Cold calling generally does work well on commodity type products such as health, medicare supplements, and P&C. Bigger ticket and more complicated products such as LTC and annuities tend to be significantly more difficult. More often those are relationship based sales. I know some folks that do market FE and/or Medicare as a way of getting paid to prospect for annuities by using those as door openers, but I'm not aware of anyone successfully cold calling for annuities.

Thanks Josh. I appreciate your feedback and insight. I guess I will have to be the first then! My ships are burned... All bridges have been destroyed... There is no possibility for retreat... I will succeed or perish. CHARGE!!!!!
:yes:
 
I would maybe purchase annuity leads and just call them over the phone and try to do it over the phone. A friend of mine keeps bugging me about SPL, but can't market it, I told him the people who send in the annuity cards are his best bet....hope he goes with it.
 
Thanks Josh. I appreciate your feedback and insight. I guess I will have to be the first then! My ships are burned... All bridges have been destroyed... There is no possibility for retreat... I will succeed or perish. CHARGE!!!!!
:yes:

No reason to not try it. I've seen much more doomed campaigns do well, but as you were looking for feedback, that's mine :)

Good luck!
 
I would maybe purchase annuity leads and just call them over the phone and try to do it over the phone. A friend of mine keeps bugging me about SPL, but can't market it, I told him the people who send in the annuity cards are his best bet....hope he goes with it.

Good idea. I spent a couple hundred bucks for some qualified leads last year and got a client which more than paid for the list. I did a personalized letter and then followed up with phone calls. I recently tried to replicate those results by doing the same and came up empty. You are right though that it is best to mix it up and have more than one avenue.
 
Good idea. I spent a couple hundred bucks for some qualified leads last year and got a client which more than paid for the list. I did a personalized letter and then followed up with phone calls. I recently tried to replicate those results by doing the same and came up empty. You are right though that it is best to mix it up and have more than one avenue.

I'm willing to bet you didn't buy enough leads. Leads are not immune to the law of large numbers. A small batch is simply not enough to judge from. Buy another batch and buy it for the same criteria as the first one you did.
 
No reason to not try it. I've seen much more doomed campaigns do well, but as you were looking for feedback, that's mine :)

Good luck!

I know man and absolutely no offense taken. I appreciate your feedback. The way I see it... I have been given the orders to take this hill at all costs. It doesn't matter that my general is a wild drunken lunatic and has never seen the carnage on the front-lines. It doesn't matter that everyone else that has tried to take this hill has died a terrible death. The hill must be taken and that is my job and that is what I am going to do.

Of course, conventional wisdom would counter with, why? You fool, you ***! Other than the reasons I have already given, here's another... Since most people are not cold calling for annuities or would give up fairly quickly after about 1,000 "no's", I like to think that I have a competitive advantage here since apparently I am the only one crazy enough to commit to this strategy and see it through. Either that or the fumes from the nearby glue factory are affecting me somehow.
............................................. :swoon:
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I'm willing to bet you didn't buy enough leads. Leads are not immune to the law of large numbers. A small batch is simply not enough to judge from. Buy another batch and buy it for the same criteria as the first one you did.

Hmm... I'm gonna need a bigger boat. :laugh:

Funny but in my deluded state, I actually had the fear of running out of leads as well. Here's how I figured the numbers... 6,000 dials a month is probably like 2,000 - 3,000 leads per month considering that I will call each number on average at least twice. I am subscribed to infofree that gives me access to download my own leads, up to 4,000/month. I know, I know, I should also talk to Josh.
 
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Hmm... I'm gonna need a bigger boat. :laugh:

Funny but in my deluded state, I actually had the fear of running out of leads as well. Here's how I figured the numbers... 6,000 dials a month is probably like 2,000 - 3,000 leads per month considering that I will call each number on average at least twice. I am subscribed to infofree that gives me access to download my own leads, up to 4,000/month. I know, I know, I should also talk to Josh.

I said leads, not numbers.

I can't imagine cold calling for annuities. Between the DNC and people's fear of scams, I can't imagine how difficult it would be.

Instead, buy more leads, whether they be internet, tele-marketed or direct mail. Then go see them. You won't sell them all, but I imagine it would be rather profitable with a good lead vendor who is properly targeting your ideal client.
 
I know man and absolutely no offense taken. I appreciate your feedback. The way I see it... I have been given the orders to take this hill at all costs. It doesn't matter that my general is a wild drunken lunatic and has never seen the carnage on the front-lines. It doesn't matter that everyone else that has tried to take this hill has died a terrible death. The hill must be taken and that is my job and that is what I am going to do.

Of course, conventional wisdom would counter with, why? You fool, you ***! Other than the reasons I have already given, here's another... Since most people are not cold calling for annuities or would give up fairly quickly after about 1,000 "no's", I like to think that I have a competitive advantage here since apparently I am the only one crazy enough to commit to this strategy and see it through. Either that or the fumes from the nearby glue factory are affecting me somehow.
............................................. :swoon:
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Hmm... I'm gonna need a bigger boat. :laugh:

Funny but in my deluded state, I actually had the fear of running out of leads as well. Here's how I figured the numbers... 6,000 dials a month is probably like 2,000 - 3,000 leads per month considering that I will call each number on average at least twice. I am subscribed to infofree that gives me access to download my own leads, up to 4,000/month. I know, I know, I should also talk to Josh.
Going through that many numbers, I can't think of a better place than infofree, pricewise. I hope you are using a dialer too. They are worth the extra money. I hope you do well. Cold calling is a biatch...
 
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