Appointment Setting Business

[bobdale1]

Hi guys! I am new to your forum and would like to describe my situation and get your feedback.
I have been in appointment setting business for last 5 years and exclusively worked to setup appointments for vaction clubs and timeshare resorts.
Now, I want to work with insurance agents and brokers to setup appointment for them. I have 10+ agents
who can dial and setup appointments.
I am interested to work on hourly basis with guaranteed results (weekly). And I plan to charge $10 per hour.

My questions are:
1. If a person pays me $10 per hour and ask me to work 4-5 hours a day. How many appointments should
he/she expect on daily basis?
2. Should I charge some commission/bonus when a deal is finalized?
3. Should I ask him to provide leads or it is ok go cold calling for the area he ask for
4. Is there any legal bounding/restriction for me to call and setup appointment (no sales or product info) or any restrictions from insurance companies?

Your feedback will help me a lot
Thanks

Bob Dale

 

[Justin Bilyj]

there have been a few threads focusing on what to pay appt setters. I think John P said it best, dont pay your setters based on commission, because you would have to keep letting them in the loop, and they never know if they are getting ripped off. Plus, my commission is advanced for some, and as earned for other companies, which throws a wrench in the whole com. thing.
Pay hourly $10, if your using the mojo dialer, and letting things go on the 4th ring, blazing through gatekeepers, then 1-2 leads an hour is reasonable, over 100 calls made, and pipeline leads are valuable too. I would pay my setter based on how many pipeline leads they also got (about 2 an hour). Pipeline leads are renewal dates, carrier info, or anything else that will help you step in front of them next time, making it a warm call and not a cold call.

 

[souldeux]

Hi guys! I am new to your forum and would like to describe my situation and get your feedback.
I have been in appointment setting business for last 5 years and exclusively worked to setup appointments for vaction clubs and timeshare resorts.
Now, I want to work with insurance agents and brokers to setup appointment for them. I have 10+ agents
who can dial and setup appointments.
I am interested to work on hourly basis with guaranteed results (weekly). And I plan to charge $10 per hour.

My questions are:
1. If a person pays me $10 per hour and ask me to work 4-5 hours a day. How many appointments should
he/she expect on daily basis?
2. Should I charge some commission/bonus when a deal is finalized?
3. Should I ask him to provide leads or it is ok go cold calling for the area he ask for
4. Is there any legal bounding/restriction for me to call and setup appointment (no sales or product info) or any restrictions from insurance companies?

Your feedback will help me a lot
Thanks

Bob Dale

To address number 2, you can't charge extra when a deal is finalized unless you're a licensed agent. Insurance agents aren't allowed to share commissions with non-licensed individuals, so paying extra for a closed deal is out.

As far as what list to call - hit up datadepot.biz, grab a list, and go to town. Get a DNC scrubbed list if you're doing residential.

Since you're unlicensed (at least, I'm assuming that), you won't be able to "solicit" - this means you can't give quotes or recommend products. You can tell the person on the other end that your agent works with company X, company Y, and company Z, but you can't say "I think you'll like company Y's term life plans the best." Admittedly, that's a grey area - but if I'm hiring an appointment setter I want to make sure I don't piss off my carriers, so I always lean towards the white side of grey.


Edit: I just saw in another thread that you're in Canada. The stuff I talked about refers to American law specifically.

 

[Mr. Bill]

Let's not forget that with vacation/timeshares there is usually some sort of incentive/bribe/gift that entices people to commit to the appointment and if The Big Reward is having a discussion with an insurance agent, well, let's just say it's not quite the same as getting a $50 gift certificate or a free toaster.

 

[whatyouwantfinally]

You can't charge $10 hourly; it goes against everything that would make such a company work. The people working for you would have no incentive to work harder; if there's 1 thing I've learned from years of phone sales it's that someone making calls all day (a grueling task) whose pay isn't performance-based is either A) someone with little/no talent/skill who is simply happy to get a check, or B) someone who is going to get pissed and either quit or slack to the extreme. Plus, assuming you're not thinking of doing this overseas, what's the profit margin there with minimum wage laws, $2-$2.50 an hour per seat? With 10 seats, you'll never cover 1 month's overhead.

If you insist on giving it a go, charge per appointment and make sure your crew spends every second of their time going after potentially PROFITABLE appointments. With what agents pay for leads these days, a solid appointment to speak with someone about buying health insurance for their family or employees is worth WAY more than one regarding auto insurance for 1-2 cars.

Learn the actual going rate for each type of appointment you set and don't charge a penny less.

 

[Josh]

Hi guys! I am new to your forum and would like to describe my situation and get your feedback.
I have been in appointment setting business for last 5 years and exclusively worked to setup appointments for vaction clubs and timeshare resorts.
Now, I want to work with insurance agents and brokers to setup appointment for them. I have 10+ agents
who can dial and setup appointments.
I am interested to work on hourly basis with guaranteed results (weekly). And I plan to charge $10 per hour.

My questions are:
1. If a person pays me $10 per hour and ask me to work 4-5 hours a day. How many appointments should
he/she expect on daily basis?
2. Should I charge some commission/bonus when a deal is finalized?
3. Should I ask him to provide leads or it is ok go cold calling for the area he ask for
4. Is there any legal bounding/restriction for me to call and setup appointment (no sales or product info) or any restrictions from insurance companies?

Your feedback will help me a lot
Thanks

Bob Dale

Are you stateside or overseas? My guess is overseas and if so you're going to have some problems you're probably not expecting.

There is nothing illegal about calling to set appointments for insurance as long as you're getting a list scrubbed against the DNC list.

EmptyEternity is way off the mark on the 1-2 leads/hour. If anyone tells me they're doing that consistently they're either generating garbage leads our telling lies, either way it's not something any insurance agent would want. If you're getting between 3 and 5 leads per 8 hour day that are quality then that's a good number. The reality if you got 2 solid leads/day and one of them sold then no agent in their right mind would complain about paying $50 for those two leads. Some of the campaigns are garbage though and even with the best data and an perfect telemarketer the results will never justify the cost because it'll cost more to generate a lead then an agent will pay for it, right wrong or otherwise.

 

[Frank Stastny]

I would want to see in writing what the definition of an "appointment" is.

Is it to "drop off valuable information", to do a "Medicare Review" or will it be with the understanding that they are expecting the agent to do a presentation?

 

[Josh]

I would want to see in writing what the definition of an "appointment" is.

Is it to "drop off valuable information", to do a "Medicare Review" or will it be with the understanding that they are expecting the agent to do a presentation?

Exactly! I'd believe you can get 1-2 of those per hour!

 

[Frank Stastny]

Exactly! I'd believe you can get 1-2 of those per hour!

If all I'm doing is calling and telling them that I am going to "be in their area on Thursday" and asking permission to "drop off valuable information" then I would expect to get at least 10 to 15 per hour or more.

I'll quit selling insurance and do nothing but that for $10 per "lead".

I consider it an appointment when they know I am coming to fill out an app and pick up a check.

 

[Justin Bilyj]

Lovely, the lead pimp is calling me off mark? I make 1 to 2 leads an hour, what is a lead, someone who requests quotes for health or life insurance. Im not talking medicare appointments either. They are 20x better than the leads you are pimping bud...these people are atleast expecting me to call them back, not surprise them cause your lead dealer decided to just take the data details, give them to people, and say an "appointment" was set....As far as I am concerned, you have NO credibility here. I have never met one person who has stuck up for you or your leads...