New to Cold Calling, Getting Discouraged Already

[beachbum2012]

I found this forum a couple months ago and have read (and re-read) a ton of the threads on here already, especially in the Cold Calling forum. Lots of good info. I've got just less than a year under my belt as a L&H agent. I'm a non-captive agent with one of the biggest agencies in MI that sell Medicare products. They set about 5 T65 appointments for us per week, so that leaves plenty of time left to prospect. So based on advice from some of the most successful agents at our agency, and from many of you in this forum, I purchased a list of 67-75 year-olds and have started cold calling.

Now granted I'm just getting started, but I'm already getting frustrated. I'm not using a dialer to start so I can take a few minutes after calls where I actually have a conversation to think about what was said and how it could've gone better. So far through about 250 dials (8-10 hours), I haven't set any appointments or even gotten any interest. I've had 56 contacts out of these 250. What adds to the frustration is that over 25% of the numbers I purchased are bad (e.g. disconnected, fax #'s, etc.).

This being the first list I've ever purchased and never cold calling before, it's a little demoralizing. I understand it's a numbers game, about variance, etc., but it's a little hard to believe in something I haven't had any success at yet. I'm using the Medsupp script at freetelemarketingscripts to start which seems pretty solid, so I'm not sure there's a problem with the script.

Anyway just looking for any advice y'all might have. Should I just keep at what I'm doing and don't worry about the results so far? Should I change up my script, and if not now, how long should I give it before I do? Right now I'm calling folks in the Flint & Detroit metro area, which have a lot of UAW retirees. Maybe I should focus on other parts of MI where more folks have Medsupps and less have BCBS thru the union? Any advice is appreciated.

 

[timamr]

Get with Josh here on the forum. I purchased a list from him a few months ago and just started really calling on it this week and have set 5 appointments. No list is perfect but he has a decent supply. I'd say less than 10% are no longer valid but I am not complaining based on the price I paid. No list is perfect.

I do not have 30+ years in the insurance business but I do have over 12 yrs in sales and the one thing I have learnt is to decide on a script or outline and stick with it. The most important thing in my opinion is to be YOURSELF and have a short and sweet opening statement.

When I say be yourself, I mean try and think of every cold call as a referral/warm lead. I am from the country and sound like a hillbilly with a strong southern accent so I have no problem saying "yall" instead of you or you guys. Just be urself.

Good luck. Also, Josh has some cold calling scripts on his website, affordablemarketinglists.com

As for more productivity: sounds like u are averaging about 25-30 calls per hour. Why not get urself a decent dialer and double the calls per hour? Less work and more volume.

PS---Josh, if you read this and beachbum does business with you, I expect a beer!

 

[Full Throttle]

A couple thoughts to evaluate yourself:
1. Vocal variety when speaking. Huge.
2. Talk conversationally. You do this by not giving a rat's ass about the outcome of any specific call.
3. Relax. Ask questions. Know your business and build a reason to get together based on their answers.

 

[Josh]

Tim, thanks for the kind words. Regardless of what you paid, I'll still replace 100% of the bad records, so hold me to it!

There are a number of reasons why cold calling works and another list of reasons it doesn't. To be a touch facetious, it's like saying "my car is broken, any suggestions?" In all fairness, it's more like you said "my car won't start" so you're telling us some of the symptoms, but it's difficult to gauge what's going on. Here are some things to keep in mind:

1. Cold calling is a numbers game, but if you keep doing the same thing you've been doing, you can reasonably expect the same results (whether they're good or bad). You should try the same thing a bunch, but if it's not working, don't be afraid to scrap it after a day.
2. Some markets/products are just the wrong fit. If everyone in your market has retiree benefits, might be a rough area for the product.
3. If you're frustrated/sad/depressed, your prospects can hear it. Make sure you're in a good disposition when you're calling or you may be just wasting your time and leads.

Hope this helps!

 

[Justin Bilyj]

You get paid to make the calls, not worry about the outcome of any one call.

 

[HoosierLife]

You need to have a short memory. You have to be able to forget the last call. If not you will start to resent the people you just talked to which will in turn cause you to be bitter toward the next call. Try to keep in mind with each call that these are the people that pay your bills.

And smile while you talk, it really makes a difference. If you don't believe me, record yourself talking while smiling and when your not. Listen and you will hear the difference. The people you are calling definitely hear it. Take no offense, but after awhile if your discouraged and are not smiling, all the other people on the other end of the phone hear is some bitter, unhappy, unfriendly old man bothering them while they are trying to watch the Price is Right. People only buy from people they like.

 

[moonlightandmargaritas]

Anyway just looking for any advice y'all might have. Should I just keep at what I'm doing and don't worry about the results so far?

You need to get your expectations in check. Cold phone calling for Medsupp in the amount you're doing is going to be an extra "low yield" prospecting tactic.

 

[beachbum2012]

There are a number of reasons why cold calling works and another list of reasons it doesn't. To be a touch facetious, it's like saying "my car is broken, any suggestions?" In all fairness, it's more like you said "my car won't start" so you're telling us some of the symptoms, but it's difficult to gauge what's going on. Here are some things to keep in mind:

1. Cold calling is a numbers game, but if you keep doing the same thing you've been doing, you can reasonably expect the same results (whether they're good or bad). You should try the same thing a bunch, but if it's not working, don't be afraid to scrap it after a day.

That's where a bit of the frustration lies. Since I'm not experienced in cold calling, I'm also not experienced in knowing how to find the problem and fix it. I understand that my sample size of cold calls is small so far, so I could be presenting my script well and just getting unlucky. But at what number does that sample size become meaningful, to know that what/how I'm saying/doing is the problem and not luck? Btw, I'm using the script you suggested at freetelemarketingscripts ("The reason I'm calling you today is because I'm helping seniors save hundreds...")

You need to get your expectations in check. Cold phone calling for Medsupp in the amount you're doing is going to be an extra "low yield" prospecting tactic.

Well, my expectations are to sell one medsupp out of 100 calls. This seems to be based on what others have said. Maybe not right away, but after a little while. Let's say I can make 200 calls in 6 hours, book 3 appointments from them, and sell 2 medsupps. I'd be happy with that average. As I get more comfortable and experienced, I'd plan to use a dialer.

Another thing is that I've read almost every post Frank made over the last couple years, some multiple times. I've found that Greensky is offering a PDF of Frank's training on his website for a small fee. I emailed him about this and he said it includes Frank's script. I was thinking about purchasing it and trying his technique.

 

[timamr]

with all due respect beachbum, just keep at ur cold calling. I still think u should buy a list and get a simple dialer (they are cheap, and if u put forth the effort, you will make 5-10 times ur investment in the first few weeks, if not more). They are cheap. Plus, learn as much as u can from the experts on this forum. Regardless, u gotta create action. Just reading aint gonna make it happen. Action does.

And trust me, I aint preaching to you. I am saying it to you just ass much as I am saying it to me. Good luck my friend!

 

[Guest]

Tim, thanks for the kind words. Regardless of what you paid, I'll still replace 100% of the bad records, so hold me to it!

There are a number of reasons why cold calling works and another list of reasons it doesn't. To be a touch facetious, it's like saying "my car is broken, any suggestions?" In all fairness, it's more like you said "my car won't start" so you're telling us some of the symptoms, but it's difficult to gauge what's going on. Here are some things to keep in mind:

1. Cold calling is a numbers game, but if you keep doing the same thing you've been doing, you can reasonably expect the same results (whether they're good or bad). You should try the same thing a bunch, but if it's not working, don't be afraid to scrap it after a day.
2. Some markets/products are just the wrong fit. If everyone in your market has retiree benefits, might be a rough area for the product.
3. If you're frustrated/sad/depressed, your prospects can hear it. Make sure you're in a good disposition when you're calling or you may be just wasting your time and leads.

Hope this helps!

x2 on Josh. I purchased a list form him when I was doing supps, and it was great. Almost all of the numbers were good. I opened a P&C agency a month later so I haven't had an opportunity to work with him again. But his lists are solid.

Josh, I'd like to talk to you about your P&C lists. Can you get specific enough to determine good credit from bad on prospects? I currently work with a company that will sell me people with good CP Attract scores, but the prices are pretty steep.