Cold Calling Sucks - But It Works

The averages of the agents we train make:
67 Dials per hour.
9 Prospecting Offers per hour.
1 Appointment per 55 Offers.
and they close 34 % to 74% of appointments.

There are considerable variations depending on the type of products they sell, the quality and demographics of their prospecting lists, and their sales competence.

If their software has a phone dialer, and their computer has a modem, it can improve the dial rate (and everything else) by about 20%

So, am I figuring this right? 67 dials to get 9 offers, that's 1 offer for every 7.44 dials 1 appt for every 55 offers translates to 409 dials to get an appointment. 34-74% closing rate - Let's call it 50% equals 818 dials per sale 818 dials divided by 67 dials per hour equals 12 1/4 hours of dialing for every sale. Man, I hope my calcs are wrong or its a really BIG sale!
 
At a 50% close rate, that is 12 hours of dialing using the numbers presented. That sounds about right. That can work if the profile of the new client is profitable. If you are just selling one health or auto policy, the numbers do not work. However, the more of a commodity the product is, the better the calling results should be.

My numbers as of today are to speak with 81 people on the phone to close a sale (one new buying entity), which takes about 10 hours of dialing (about 8 contact per hour). My approach is completely different than the one above. Mine may take fewer hours on the phone, but it takes more hours in the field to pull off that sale.

The reality is comparing my numbers to the one above is meaningless unless we are comparing the same sales process. Selling life insurance will be much different than calling on health or P&C.
 
It is 12 Noon. I am sitting in my recliner, still in my pajamas, reading the forum threads. Is this avoidance activity? :skeptical:


Lol not saying I don't do the same thing but if we did this when we first started we would have been broke. Come to think of it, I did do it and I was broke

SAME THING? I don't think so. We all know you Floridians sit around in your thongs, boys and girls. In Tennessee they wear pajamas.
 
Ron Van D is correct.
The sales process we teach
only works if you are selling
a high commission product or service -
or if the prospect will become a frequent buyer.

It'll work with any client. What I am saying is its not worth it. I could have spent the same amount of time just straight cold calling and not spend a dime to mail out letters. If you're looking to waste time at your desk, its good for that
- - - - - - - - - - - - - - - - - -
SAME THING? I don't think so. We all know you Floridians sit around in your thongs, boys and girls. In Tennessee they wear pajamas.

I don't know what you're drinking but I sit around naked
 
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It is best to build a conversation in calls. However, you cannot just call people out of the prospect lists right away, but how many people would bother to listen to a cold call? What we can do is to compliment our cold calls with another marketing technique: Internet marketing.

It is simple: Build a website or create a social media account where we can dispense advice on insurance, educate prospects on how they can get the best out of their insurance product, plus answer questions they may have about insurance.

Inject a call-to-action statement in whatever we post, but let it not be too obvious. Our name and contact details at the closing will do. We can also offer free downloads or guides to prospects. Whoever downloads the guide is a prospect. It is easy to track them using CRM.
 
Wow! all of these posts are so encouraging! I'm an Aflac agent since October 2015. I have been cold calling forever in this area (Alabama) and have only one account (i got my first month of cold calling) and one that was given to me (it was already penetrated completely) but theres the possibility that this account will grow.
However I've hit an emotional wall at times, and learned from it to keep cold calling. I enjoy this job but all the rejections after a year and a half make me feel unqualified for this job. Aflac sent me a letter of termination but my boss interceded and got a waiver, which sucks since i feel I've gained some confidence. I have until July to make 10000 premium (3 months). Do other companies terminate you like this? they take my two little accounts , the greedy company!
 
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