Med Sup Cold Call Results - Bad?

[Robert1990]

Thanks looking at the links now. Age is 25 and no I have not cold called before, I've only worked for a company selling Medicare supplements that were hot leads and inbound. On average is make anywhere from 25-35 sales a month and during aep I'd make 45-60/month. The problem is I was salaried so my commissions blew, I only have to make 8 sales per month on my own to equal what I was getting paid for commission and salary the last couple years selling these.

 

[somarco]

Cold call leads are much more difficult to convert than those who responded to an ad or mailer.

Age 25 will make it more difficult unless you sound older on the phone. People tell me I sound younger than I am.

I don't know if you have a reserve to buy leads but might consider that.

http://www.insurance-forums.net/for...icare-supplement-leads-10-50-each-t73647.html

Consider hooking up with Chris Westfall (Daytona Guy on the forum but he doesn't live in Daytona any more). He has a lot of ways to self generate leads.

His website.
MedicareAgentTraining.com - Medicare training on how to sell Medicare Supplements by phone

 

[thomasm]

Here's a intro that will help you build up a little curiosity to get to the quote.

"Hi Jill?

Robert calling. Hey, I just wanted to give you quick update to what's happening with your Medicare. You do have a medicare supplement plan correct?

Great, I don't know if you've heard but, with all the changes to Medicare, rates are going up.

Everyday I talk to seniors are overpaying for their medicare supplement, and most don't know that their are better options out there.

I don't know if that's the case with you, but if you haven't had your rate shopped in a while, there's a pretty good chance, you may be overpaying.

It only takes a few seconds to find out, I just have to ask you a few questions about your plan. Would that be OK?"

When you get their permission to quote, don't lead with asking what company their with. Just find out what plan their on, their age, their tobacco use, and say this. "Well based on what you told me, you should be paying $xx for that plan. Is that close to what you're paying, or are you paying significantly more?"


A good intro won't help much though, if you're calling the wrong areas. Check with Daytona Guy to make sure you're fishing in the right pond.

 

[Thad.Sipple]

So for an intro skip xyz company, take out how are you doing, " this is robert, I'm a licensed agent in your state and I'm calling to......." this is where I'm lost. If anyone has a good intro that works for them please share the rest of my sales process is down once I get them talking to me as I've done this before just not cold calling (my old intro was simple "this is Robert with xyz company how are you. Great I was calling because you were just on our website and requested information, what type of coverage do you currently have."

You went from one mistake to another. These people don't care who you are, what company your from, your experience, or if your the president of the company, licensed or not.

My thought process is you think it's important and shows statute but these people don't care and it won't give you any pool when it comes to making a sale or not.

There has been many times that we've sales without ever telling the person what company were with and what company they're buying at the end of the day they didn't care they bought us.

The sales process you had before with hot leads as you say, is going to be different than the cold call to the sale process you're doing now. It's going to take a little bit longer to build the trust, think of it as a 2 to 3 or even four call close.

Once you quote them you lose, your wad is blown.

 

[Justin Bilyj]

Here's a intro that will help you build up a little curiosity to get to the quote.

"Hi Jill?

Robert calling. Hey, I just wanted to give you quick update to what's happening with your Medicare. You do have a medicare supplement plan correct?

Great, I don't know if you've heard but, with all the changes to Medicare, rates are going up.

Everyday I talk to seniors are overpaying for their medicare supplement, and most don't know that their are better options out there.

I don't know if that's the case with you, but if you haven't had your rate shopped in a while, there's a pretty good chance, you may be overpaying.

It only takes a few seconds to find out, I just have to ask you a few questions about your plan. Would that be OK?"

When you get their permission to quote, don't lead with asking what company their with. Just find out what plan their on, their age, their tobacco use, and say this. "Well based on what you told me, you should be paying for that plan. Is that close to what you're paying, or are you paying significantly more?"


A good intro won't help much though,if your calling the wrong areas. Check with Daytona Guy to make sure your fishing in the right pond.

That's a great script. +1

 

[thomasm]

Once you quote them you lose, your wad is blown.

I disagree. Where you really lose, is when you tell them the name of the carrier you just quoted them, before you found out first how close they are with their "local" agent.

It only takes one time for this to happen, and you will never let it happen again!

 

[Thad.Sipple]

Here's a intro that will help you build up a little curiosity to get to the quote. "Hi Jill? Robert calling. Hey, I just wanted to give you quick update to what's happening with your Medicare. You do have a medicare supplement plan correct? Great, I don't know if you've heard but, with all the changes to Medicare, rates are going up. Everyday I talk to seniors are overpaying for their medicare supplement, and most don't know that their are better options out there. I don't know if that's the case with you, but if you haven't had your rate shopped in a while, there's a pretty good chance, you may be overpaying. It only takes a few seconds to find out, I just have to ask you a few questions about your plan. Would that be OK?" When you get their permission to quote, don't lead with asking what company their with. Just find out what plan their on, their age, their tobacco use, and say this. "Well based on what you told me, you should be paying $xx for that plan. Is that close to what you're paying, or are you paying significantly more?" A good intro won't help much though, if you're calling the wrong areas. Check with Daytona Guy to make sure you're fishing in the right pond.

Perfect, I personally would ask a "right" or a "does that make sense" question just to engage them more and not make it seem as a big run on sentence, but voice inflection or a pause could fix that too.

You just scored here, go dial.

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I disagree. Where you really lose, is when you tell them the name of the carrier you just quoted them, before you found out first how close they are with their "local" agent. It only takes one time for this to happen, and you will never let it happen again!

Great point.

I didn't explain as I should have, I more meant, agents are 2 quick to quote, thinking if they asked to be quoted they must be interested, to me quoting is the same as "give me your card".

 

[Robert1990]

Thanks for the advice guys. Can't wait to get home and put this stuff to use.

 

[mickeyma]

Skip the "I'm with xyz company"

So only 89 people picked up the phone? The rest were no answer.

Rule of thumb every 100 contacts creates a lead.

Yes, but to get to 100 CONTACTS you have to make 1,000 zillion calls. Caller ID, answering machines, DNC, etc.

And, since everyone is complaining about the reduction in the direct mail return rate, I view with skepticism agents claiming they are doing 3-10 apps a week.

 

[somarco]

There are agents writing 3 - 10 apps a week. The average would be higher if not for factoring in SAI's production.

Most agents writing that many apps are relying heavily on referrals from existing clients and inbound leads from internet or seminars.

An agent starting out, cold calling will take a while to get up to even an app a week. Cold call telemarketing is brutal and time consuming. Even if you hire someone to call for you it can be hit or miss.