Trying to Improve my Cold Calling Method!

Ya, but who seriously wants to for knock all day?
I didn't say all day. 15-20 hours a week at most.

I'm on the phone all day, so most days I don't get out there until after 5:30 and work till it gets dark (9pm during summer!) I come back with 8-10 leads every night. (people interested in a quote.)

Personal lines P&C is the easiest lead to generate of all insurance imo. I wish the senior market was that easy to market to. I would shut down my dialer and just door knock!

If getting P&C carrier appointments wasn't so difficult, that's where I would start if I had to start over again.

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I believe (and know) that door knocking is the best way to get yourself launched. But to stay there? No... you shouldn't be doing it past 1 year at the latest, in my opinion.

The smart way to door knock/cold call is to think long term.

They may not want your services now, but they may want to talk to you later, especially right after they get a rate increase.

If all else fails, at least ask for an email address, or confirm their address so you can drip market them.

I've built up a list of over 2000 email addresses this way simply by asking for them over the years.

If you keep yourself top of mind by sending out quality content that is relevant to your niche, you'll start getting calls when those rate increases come in.

You have to think like a marketer, even if you have little to no marketing budget to work with. Thankfully the internet and social media have solved that problem!

It's so much easier today to get found if you know how to tailor your content to what your niche is searching for. And you can most of it for next to nothing! But it does take some time to build a following.

Most agents are too impatient and give up too soon! Which is why you see so many agents websites with abandoned blog posts. :swoon:

Just be sure to do your "online marketing" stuff in your off hours, not when you should be on the phone, at their door, or in front of a group, talking to prospects.
 
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And leverage your new sales into professional introductions. One client can lead to 3, that lead to... you know how it goes.
 
And leverage your new sales into professional introductions. One client can lead to 3, that lead to... you know how it goes.
That's one area I need to work on. That & talking to groups.

Funny, I can talk all day to cold strangers, but the thought of public speaking, even networking, takes me totally out of my comfort zone.

Just going to have to push through it, because those two strategies could be the thing that really take my business to the next level!

Next week I'm calling on senior centers to book "educational" FE seminars.

Christopher Westfall made a video a while ago that got me thinking about "comfort" zones.

Success may just by lurking right outside my comfort zone!
 
Toastmasters is an excellent way to over come stage fright and polish spewing skills.
Aint nobody got time for that! lol

We're just talking about a small group of seniors down at the community senior.

These first few talks I book, probably only 1 or 2 will show up anyway, so I'll get plenty of practice in!
 
I didn't say all day. 15-20 hours a week at most.

I'm on the phone all day, so most days I don't get out there until after 5:30 and work till it gets dark (9pm during summer!) I come back with 8-10 leads every night. (people interested in a quote.)

Personal lines P&C is the easiest lead to generate of all insurance imo. I wish the senior market was that easy to market to. I would shut down my dialer and just door knock!

If getting P&C carrier appointments wasn't so difficult, that's where I would start if I had to start over again.

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The smart way to door knock/cold call is to think long term.

They may not want your services now, but they may want to talk to you later, especially right after they get a rate increase.

If all else fails, at least ask for an email address, or confirm their address so you can drip market them.

I've built up a list of over 2000 email addresses this way simply by asking for them over the years.

If you keep yourself top of mind by sending out quality content that is relevant to your niche, you'll start getting calls when those rate increases come in.

You have to think like a marketer, even if you have little to no marketing budget to work with. Thankfully the internet and social media have solved that problem!

It's so much easier today to get found if you know how to tailor your content to what your niche is searching for. And you can most of it for next to nothing! But it does take some time to build a following.

Most agents are too impatient and give up too soon! Which is why you see so many agents websites with abandoned blog posts. :swoon:

Just be sure to do your "online marketing" stuff in your off hours, not when you should be on the phone, at their door, or in front of a group, talking to prospects.


Great advice... thanks!

James

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Agreed... but there are different definitions of "broke".

If you're "Food stamp" broke... yeah, that rude awakening is happening.

If you've got some savings to keep your family afloat for a few months... it's probably better to invest sweat equity initially... as long as you have something solid to market. If not... that rude awakening will still happen... just a little later.

In both cases, without solid training... you're heading into the path towards the "House of Pain".

Precision Launch Newsletter


I appreciate this link you posted. I experienced a lot of what he described in this article and am relieved to know that there is light at the end of the tunnel.
 
I didn't say all day. 15-20 hours a week at most.

I'm on the phone all day, so most days I don't get out there until after 5:30 and work till it gets dark (9pm during summer!) I come back with 8-10 leads every night. (people interested in a quote.)

Personal lines P&C is the easiest lead to generate of all insurance imo. I wish the senior market was that easy to market to. I would shut down my dialer and just door knock!

So has your experience been that door knocking cold and leading with med supp or FE is not the most productive way to canvass?

Thank you
 
So has your experience been that door knocking cold and leading with med supp or FE is not the most productive way to canvass?

Thank you
I think it depends on the area.

With Medicare supplement, your chances of success canvassing are greater in areas with very low to no medicare advantage. If you're willing to drive to those type of counties and just door knock letting people know about lower rates available on the same exact supplement plan, I think you could really clean up just leading with a med sup quote approach, and the FE cross-sell paid for with the savings from the med supp premium.

FE has been for the most part a cross-sell for me, at least ever since I discovered it's a lot easier to approach seniors about Medicare than it is life insurance.

For urban areas with high MA penetration, I take a different approach. I set appointments using a "free health plan review" pitch. Sometimes I'll throw in a premium like a free prescription discount card or free memorial guide if it will help clinch the appointment.

*By the way, I don't recommend trying this approach if you're new. It's hard enough learning one product. I'm at the point in my career where I can walk in a house not knowing what I'm going to sell and come out with multiple apps for different products, but it took awhile to get there!

Most seniors on MA don't have a clue what their plan covers and they can prove it to you just by asking them what their daily co-pay is for hospital stays, or what their maximum out of pocket is.

So my pitch in these areas is... "Look Mrs. Jones, most people just assume that everything is covered, when in fact, that just is not the case. What's even worse is finding out what's not covered after all the medical bills start showing up! I can help you avoid that by explaining to you exactly what those gaps in your plan are. And it only takes a few minutes to go over it with you. Mind if I step in?

Or if your calling to set an appointment, you can say,.."I'm going to be your area tomorrow seeing other clients, I can drop by and explain this to you then. Would morning or afternoon be better for you?"

Again I don't know what I'm even going to sell, I just know my odds of selling something gets better once I walk past that threshold.

This is why you need to have other senior ancillary products in your bag to handle this type of approach, especially Hospital Indemnity, Cancer and DVH. Pick up Medico and GTL and study those 3 products. Those are the easiest to sell after you explain the gaps in their MA plan.

How do I do a Health Plan Review?

Find out what all the MA plans are in your area. You can find out at Medicare.gov

Print of each MA Plan's Summary of Benefits. You can do this right off the plans website.

I put all of them in a binder so when they tell me which plan they have, I can open up my binder and go through it with them right then and there.

The MA plans in your area may be different, but these are the 3 things I hit on:

The Daily Co-Pay for Hospital Stays for days 1-5
The 20% Co-Insurance for cancer treatment up to their MOOP.
The zero or limited benefits for Dental Vision & Hearing.

Then I tell them about the solutions to these gaps by going over the 3 products I mentioned above.

You can do all that in about 15-20 minutes tops. A little longer if you write them up.

Then I always ask to review their life insurance or pre-paid plan. I just assume they already have something. They will tell you if they don't.

If you get resistance because they think they have a good plan, I just say, "well let me just look it over while I'm here to make sure it really is what you think it is. It's always good to have a second professional opinion."

I'm sure you know where to go from there.

Hope this helps!
 
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Then I always ask to review their life insurance or pre-paid plan. I just assume they already have something. They will tell you if they don't.

If you get resistance because they think they have a good plan, I just say, "well let me just look it over while I'm here to make sure it really is what you think it is. It's always good to have a second professional opinion."

I'm sure you know where to go from there.

Hope this helps!

Very helpful ... Thank you for taking the time to share all that with us!
 
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