Growing an E-mail List While Cold Calling

[Cash]

I was talking with a guy who said he grows his email list while cold calling. No small numbers either; granted, this isn't for insurance but those people are agreeing to be added to his list despite not buying what he was selling.

Some people are nice and are interested in the product but not enough for an appointment. I guess those are the kind of people you could add to an email list?

Has anyone done this with success?

 

[scagnt83]

I was talking with a guy who said he grows his email list while cold calling. No small numbers either; granted, this isn't for insurance but those people area agreeing to be added to his list despite not buying what he was selling.

Some people are nice and are interested in the product but not enough for an appointment. I guess those are the kind of people you could add to an email list?

Has anyone done this with success?

NYL used to train agents to do this when you are denied an appointment. They said to respond with "I understand... instead, would you allow me to add you to my monthly newsletter recipients."

Many would say yes to this. I think the fact that they just told you "no" actually helps. They at least a little bit feel bad about saying no. So they feel better saying yes to the second request since it is non-confrontational & takes no time on their part.

I never really used the method like I should/could have back then. mostly because I had to pay for a newsletter with nyl & I just never did.

But after responding to your post I am getting some ideas of how to use this method with my current marketing! So thanks for asking the question and reminding me of this method!

Also, another thought that just occurred to me. It is more beneficial to send a newsletter (or blog posts or whatever) out to non-clients vs. existing clients. Same theory of posting stuff on LinkedIn Groups. Existing clients already trust you & believe in your services. Its the ones who say "no" who you want to be convinced over time.

 

[Justin Bilyj]

Also, another thought that just occurred to me. It is more beneficial to send a newsletter (or blog posts or whatever) out to non-clients vs. existing clients. Same theory of posting stuff on LinkedIn Groups. Existing clients already trust you & believe in your services. Its the ones who say "no" who you want to be convinced over time.

Unless they haven't taken you up on the other services you offer i.e. social security claiming strategies, or retirement income planning, or pension maximization etc.

To get back to the OP's question, when I called sbo's for health and term, I often did this, I had a chart (don't laugh) of smiley faces, for each day, orange for pipeline leads that I gathered their email and any info I have, and pink for appointments. Don't know why but it sure made me productive, kinda mattered more to me how many smiley faces I could put up there than anything else, I knew if there were stickers my checks were working out. I have continued to keep the list, from years ago and still contact some prospects I remember more than others. You never know when you will pick up a product/service that might be helpful to them in the future in addition to dripping on them.

I was able to get about 1 lead an hour of calling and about 3 pipeline leads, and Tyler is right, people will give their email to you out of the concession principle, so use it!

They say it takes 8-12 exposures to cement a brand an increase chances of selling, I can figure no better way than to build an email list.

I sold a family from 2009 just this last OE for health and medicare (3 apps because I dripped on them here and there offering to be a resource for them in this healthcare and medicare season)

 

[jbalkin]

Go for it. My company provides an email newsletter service for some of our telemarketing clients (commercial lines agents) for just that purpose, and we've set appointments with people who commented on how much they liked receiving it. (Plus, they knew who we were.) Not only are you staying top of mind with those people, but if you provide good content, you come across as generous and thoughtful. (Hopefully.)

I would also put your customers on that list. Shows them that your interest in helping them isn't just to sell a policy, but to improve their lives. (Gaaah, marketing-speak sounds corny. Sorry.) Also, we've had a few former clients who decided to come back to us after reading our in-house newsletter.

 

[Cash]

Does anyone have an idea of how big a list needs to be to start seeing, say, weekly results?

My guess would be 500-750 opt-in emails with good, helpful content; but it is just that, a guess.

 

[DHK]

I really don't have much of an idea... as it also depends on your relationship to the people that are on the list itself.

However, per the e-relationship FAQ:

Will I make more sales using e-Relationship?
Yes! We have a training CD featuring an advisor who initially put in 25 names of business-owner acquaintances he had known for 10 years. He sent his first mailing, had 13 requests for information and sold 8 cases. After one year, he had 847 names in his system, mostly by adding 25 to 40 names per month and a list of 300 names from his Chamber. The result? $302,000 First Year Commissions!

Obviously if you're using it to BUILD a relationship, results will come but take much longer. It's not a "quick fix" and the longer you keep at it, the better your results will be over time.

My advice on this... is don't expect much immediately, but keep to the discipline of doing it. It'll improve your image, and how many other advisors are contacting their prospects and clients over the long term? It's easy to do, and very easy not to do. You'll stand out just for keeping in touch longer than anyone else.

 

[scagnt83]

Does anyone have an idea of how big a list needs to be to start seeing, say, weekly results?

My guess would be 500-750 opt-in emails with good, helpful content; but it is just that, a guess.

Imo the key would be with actual followups. If they say yes to the e-newsletter then put them on a followup list for 6 months out. I would make contact with them twice a year. Not pushy, just a quick check in to see if anything has changed with their insurance needs. Possibly even ask if they found any of the articles interesting or relevant to them. You will be much more likely to get appointments from the followups vs. them calling you. The newsletter builds credibility and gets you in their mind. It also might get them thinking about insurance needs that are not currently or fully covered. So when you call them to check in they are more likely to discuss those needs with you.

jmo

 

[Cash]

I really don't have much of an idea... as it also depends on your relationship to the people that are on the list itself.

However, per the e-relationship FAQ:



Obviously if you're using it to BUILD a relationship, results will come but take much longer. It's not a "quick fix" and the longer you keep at it, the better your results will be over time.

My advice on this... is don't expect much immediately, but keep to the discipline of doing it. It'll improve your image, and how many other advisors are contacting their prospects and clients over the long term? It's easy to do, and very easy not to do. You'll stand out just for keeping in touch longer than anyone else.

There was some good info in that link. Thanks.

I would look at this as farming opposed to hunting... sowing today so I can reap in harvest.

I have kicked myself in the past for not doing things because I thought they would take too long and then realizing a year or two earlier that I would be reaping great rewards if I would have just done it.

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Imo the key would be with actual followups. If they say yes to the e-newsletter then put them on a followup list for 6 months out. I would make contact with them twice a year. Not pushy, just a quick check in to see if anything has changed with their insurance needs. Possibly even ask if they found any of the articles interesting or relevant to them. You will be much more likely to get appointments from the followups vs. them calling you. The newsletter builds credibility and gets you in their mind. It also might get them thinking about insurance needs that are not currently or fully covered. So when you call them to check in they are more likely to discuss those needs with you.

jmo

That sounds like a good plan.

 

[Justin Bilyj]

I recommend against erelationship unless you are doing one niche market, for the price its a very limited system, although what's sent out is great stuff.

 

[briko3]

I recommend against erelationship unless you are doing one niche market, for the price its a very limited system, although what's sent out is great stuff.

The problem I had with e-relationship is that I felt the pieces "tricked" them into requesting more information. (ie., "tell me more" after clicking through 5 slides) You then get a "lead" in your e-mail that they requested information when they really had no intention of you contacting them.