Health Internet Leads

[Frank Stastny]

Frank,

I know you have mentioned calling your lists many times and how effective it is for you. Can you give us an idea of how many calls you generally need to make to generate a sale? If memory serves me, you generally have the product pre-sold prior to making the trip to the prospects home....correct?

Also do you think that a telemarketer could be effective in setting appointments for an agent for med supps?

Yes, when I set an appointment I know that I have at least a 90% chance or better of making a sale. Many times I will even read the health questions over the phone and I always quote the premium.

Calling from a list is the most effective way I have found to prospect. I have tried everything from direct mail leads, internet leads, snail mail letters I have sent out, hiring a telemarketer and knocking on doors.

I have never kept track of how many calls I have to make to generate a sale. Some days I can make 10 calls and get two, other days I may make 30 and not get any. The number of calls I have to make really isn't that important to me. All I can say is that I sell a lot of insurance off of a list, a whole lot more than I have ever sold from calling "leads".

Is it more work, yep, do I make more sales, yep, does it cost me hundreds of dollars a month, nope. I also put every person I call who I believe is a qualified buyer in my Prospects database to be called again at a later time. I sell insurance to people all the time that I talked to initially months ago.

A telemarketer is just that, a telemarketer. They cannot generate the excitement in their voice that I can when I explain the plan, they cannot answer questions or objections, they can't give the premium amount nor do they don't bother to try to "read" the person over the phone.

They simply call following a "script", and since their job is to generate some level of interest they don't ask very many questions nor are they friendly, warm and fuzzy over the phone and try engage the person in a conversation. They don't have the time to do all of that. their goal is to make as many phone calls in an hour as they possibly can.

I am convinced that they talk to a lot of people from the list they are using who are ready to buy but the agent never gets information simply because they are "telemarketing" that person. Personally, I would want to have the initial call come from the person I am going to be giving my money to, not someone who is hurring through a list so they can make as many calls per hour as possible.

They are after quantity, I am going for quality. Also, they are calling from the same list of names that I am. Am I better than a telemarketer as selling insurance, I sure hope so.

 

[Crabcake Johnny]

It's still gonna come down to doing what simply works for you. "It is what it is" and if you can make a good living buying shared leads, hiring marketers, or making calls yourself then it's working for you.

It's very important that new agents understand there are many ways to skin a cat. I know Jesse McDonald does nothing but internet leads and does extremely well. I know local agency owners who won't spend anything on a lead and are simply involved in the community - the "chamber of commerce" concept.

What it all boils down to is everything works if you work.

 

[Frank Stastny]

Specific prices would be nice to know.

Keeping the cost of the leads a "secret" is the deal killer for me. I would never contact them without knowing the cost first. I might be missing a good deal by not calling, but I also might just be wasting my time listening to a BS sales pitch.

I can only think of one reason for a company to not display the price. They know they are too high compared to others and want the agent to call so one of their sales people can try to "sell" their program.

I will not contact companies who are not up-front about the cost of their product. I was born at night but last night. Sorry, that is a pet peeve of mine.

 

[STIBROKER]

Iwhen they pick up the phone and realize an agent is on the other end thinks: "****!!!" Then they know better than to answer the phone again.

and thats why I take leads in the evening and on weekends....you don't want to blow that first in slot to tell the people that their name was sold to you and 4 other goofballs and I have found most of the other goofballs do not work leads evenings and weekends.....

 

[Frank Stastny]

It's still gonna come down to doing what simply works for you. "It is what it is" and if you can make a good living buying shared leads, hiring marketers, or making calls yourself then it's working for you.

It's very important that new agents understand there are many ways to skin a cat. I know Jesse McDonald does nothing but internet leads and does extremely well. I know local agency owners who won't spend anything on a lead and are simply involved in the community - the "chamber of commerce" concept.

What it all boils down to it everything works if you work.

I wasn't implying that other methods don't work, just that it makes more sense to me and is a lot more cost effective and efficient for me to do my own prospecting than any other methods I have tried. And, my cost per "lead" is only a few cents compared to dollars for purchased "leads". My net income is also a lot higher than if I spent thousands of dollars buying "leads" or hiring someone else to do my prospecting. Net income is the only measure of my earnings that is important to me.

One can't measure an agents income without knowing how many thousands of dollars that agent has spent to make that amount of money.

I talked to an agent several weeks ago who said he is spending $800+ per week buying leads. That's over $41,000 per year! He may have made $150,000 (I am just putting a number in, he didn't tell me that) but his real income is going to be substantially less than that.

If he did his own prospecting and made $150,000 he has made substantially more money. He might have to work an extra two or three hours a day though.

One of the board members asked this question in another thread, "how did agents sell insurance before computers?" That may not be a direct quote but it is close.

 

[STIBROKER]

One of the board members asked this question in another thread, "how did agents sell insurance before computers?" That may not be a direct quote but it is close.

we worked telemarketer leads that were really iffy and went to see them or faxed them outlines and applications.....I tried to do the latter as much as possible....

 

[Crabcake Johnny]

While this is true most agents would put a load in their pants just thinking about cold-calling.

What agents need to understand is that unless the prospect EXPECTS your call it's a cold call. I guarantee anyone on this board that if you speak with 20 people who requested quotes I will have the same results speaking with 20 biz owners I cold-called. There will be one difference - I'll get better responses and have nicer conversations. Most of the leads get a bit pissed and frustrated if you're the 3rd, 4th agent to call. I very rarely run into any attitude when cold-calling.

It's psychological. If you're mind is fooled into thinking internet leads want you to call then fine. Fool yourself. Most don't want any agents to call. If they knew you'd be calling 90% would never type in their info. 99% wouldn't type in their info it they knew 4 agents would call so actually you're pestering people when they don't want to be pestered. I pester people cold-calling but they only get called once.

When you actually sell a lead is more of just the laws of contacting large numbers of people. Again, you call and talk to 20 leads you get deal. I cold-call and talk to 20 biz owners and I get deals. If you think there's a difference, there's not - only in your mind. Oh...my AV will be $1,000 per copy higher. That's one difference.

 

[CHUMPS FROM OXFORD]

""how did agents sell insurance before computers?" Good question Frank.

I never used a telemarketer. In 1980, when I started, I used the phone book. That's it. I x-dated CDs and auto renewals. It worked great and I kind of miss those days.

One of admin associates still X-Dates CDs for me 30 minutes per day.

 

[Macdaddy]

I talked to an agent several weeks ago who said he is spending $800+ per week buying leads. That's over $41,000 per year! He may have made $150,000 (I am just putting a number in, he didn't tell me that) but his real income is going to be substantially less than that.

If he did his own prospecting and made $150,000 he has made substantially more money. He might have to work an extra two or three hours a day though.

I had a conversation with the guy you are talking about and he states he earns on avg $4000 per week. $4000 x 50 weeks= $200,000-$41,000 for leads= $159,000 net. That system works too.

 

[somarco]

I have found most of the other goofballs do not work leads evenings and weekends

"Other" goofballs?

Are you including yourself in the goofball category?

Actually, that is smart, working nights & weekends. Leaves your daytime hours to play golf, drink beer, catch up on what Oprah is doing . . .

I imagine you have less competition then.

Wonder if TX (who runs a phone mill) has his minions working PM & weekends?