Ratios from Calls to Applications for Individual Health

COInsguy · 09-18-2009, 10:40 PM

I wanted to see what other agents selling Individual Health have for a typical sales ratios. The last two weeks I've been tracking very closely what my results have been so that I can better predict my business.

From Calls Made to Getting a Fact Finder I'm at 15% of those I've closed 52% now I suspect that these numbers will go down a bit as I've had my pipeline spill over a bit this week and have had a great week but want to see how this stacks up and where others might be getting more people on the phone or returning calls and why.

CHUMPS FROM OXFORD · 09-18-2009, 11:03 PM

Those sound like great numbers. You need to write a book, go on Oprah and you'll make a million bucks.

Most of my calls are service or referrals so it would not be fair to compare.

Chazm · 09-18-2009, 11:33 PM

You do a fact finder 15 times out of 100 calls?

Damn, that real good. I might get 10-15 contacts out of 100 calls. 2-3 appts out of 10-15 contacts and 1 sale for 2-3 appts.

COInsguy · 09-19-2009, 12:21 AM

That's been my numbers since I started keeping a close track of them. It's been the only area of my business I haven't really measured very closely. I do 90% phone sales so don't have to factor in the appointment ratio.

I also think that when I look back at this over a 2 month period it will be lower than where I'm at now, had a decent week for the effort I put in and wrote 8 apps so far and hopefully 2 more before the week is out. While I'd love to say this is my average production I'm not there yet!

stormtracker · 09-19-2009, 02:09 AM

I once called my office number by mistake. Once I realized I was an insurance agent, I refused to pick up...

Full Throttle · 09-21-2009, 07:15 AM

Over a 3 year period, for me it boiled down to 50 business owner contacts (not dials) = 1 placed health insurance sale (at least for IFP).

Further break down:

1 out of 10 contacts became an immediate lead entering my sales cycle

1 out of 5 placed within the first year (most within two months)

jmhopkins40 · 09-21-2009, 09:16 AM

Originally Posted by Full Throttle

Over a 3 year period, for me it boiled down to 50 business owner contacts (not dials) = 1 placed health insurance sale (at least for IFP).

Further break down:

1 out of 10 contacts became an immediate lead entering my sales cycle

1 out of 5 placed within the first year (most within two months)

this has gotta been on the phone...not face to face walk ins....right?

Full Throttle · 09-21-2009, 04:15 PM

this has gotta been on the phone...not face to face walk ins....right?

Yes. In other words, using a Mojo dialer, it was a placed policy for every 3 1/2 hours of dials.

healthagent · 09-21-2009, 04:36 PM

Coinsguy

I'm a bit lost. Are you saying for every 100 numbers dialed you perform a "fact find" on 15 of them and close around 8? So if you dialed 100 numbers per day you're putting in 40 apps a week?

COInsguy · 10-03-2009, 03:54 PM

Originally Posted by healthagent

coinsguy

I'm a bit lost. Are you saying for every 100 numbers dialed you perform a "fact find" on 15 of them and close around 8? So if you dialed 100 numbers per day you're putting in 40 apps a week?

missed this thread for a bit here....

Here's what my numbers look like exactly for the last month:

Out of 259 Calls I had 54 Fact Finders Submitted 28 apps pacing for about 80%-85% placement which is my norm.

So I had 20% Phone to Fact Finder and 50% close ratio

I'll add that, while I work shared leads from a few vendors & exclusive leads from 1 company that I also do a lot of my own marketing to generate traffic. I have a number of sales that by the time the clients contact me it's too ask how to apply. So I spend a good amount of time getting the prospect very warm to me.

I also suspect, these numbers will drop a little, this month was pretty easy for me with referrals/pipeline spilling over etc..

Full Throttle · 10-03-2009, 04:54 PM

So I had 20% Phone to Fact Finder and 50% close ratio

My contact to dial ratio is around 25% to 30%, much less that number being a lead (aka fact finder). This means that for every 10 dials you make, it results in an app submitted? To sumbit those 28 apps last month, you made approximately 12 calls per day?

DHK · 10-03-2009, 06:31 PM

ALL OF YOU (except Full Throttle) are NOT asking the RIGHT QUESTIONS! FT backed up his numbers by indicating WHO he's contacting (business owners) and substantiating his numbers by only counting the "contacted" leads.

WHO is being called? Is it a lead? Is it cold? Did they request information in advance? Is it a newsletter list? Is it everyone in town because you also happen to be the mayor?

What PROFILE of person are you trying to reach? Business owners, executives, homemakers, retirees, unemployed, young families, who?

HOW did you get their name? Send out postcards to request a free report, held a booth at a chamber event, door to door in neighborhood to introduce and then follow up by phone, HOW?

WHAT are you saying to them?

Metrics without specifics is the beginning of speculation.

If you keep thinking that all you have to do is dial the phone WITHOUT any thought as to who you're calling and what you're offering does NOT have a business-owner mindset and are just looking for the quick buck.

COInsguy · 10-05-2009, 11:04 AM

DHK... Then I think you missed my posting about who I am contacting. My marketing consists of 50% of my business coming from leads both internet and shared and the other 50% comes from a few avenues of marketing to highly targeted markets. I also spend a lot of time developing referrals from my client base, which is very easy to get from Real Estate brokers who make up 70% of my book of business. These all have a huge effect on why my call ratios have been very high especially recently.