Some food for thought when calling your leads!

MHart · 08-12-2007, 04:22 PM

Got this from my monthly Blue Cross Sales Rep:

Something for you to think about when you are calling your leads.

Call on good prospects as many times as it takes to sell them.
About 80% of sales are made on the fifth call or later, yet studies
Have shown:
Up to 50% of America’s salespeople call on a prospect just
One time, then quit
18% call on a prospect twice, then give up
7% call three times, and then call it quits
5% call on a prospect four times before quitting
Only 20% call on a prospect five or more times before they
Quit
Here’s the kicker: Those 20% of salespeople close 80% of the
Sales in America! You don’t have to become a dynamic personality
To sell. You don’t have to put pressure on people or out-talk people
To sell. The most effective thing you can do is to apply your own
Selling savvy, which adds strength to your persuasion, and then

just keep selling!

Frank Stastny · 08-12-2007, 05:26 PM

Originally Posted by MHart

Got this from my monthly Blue Cross Sales Rep:

Something for you to think about when you are calling your leads.

Call on good prospects as many times as it takes to sell them.
About 80% of sales are made on the fifth call or later, yet studies
have shown:
• Up to 50% of America’s salespeople call on a prospect just
one time, then quit
• 18% call on a prospect twice, then give up
• 7% call three times, and then call it quits
• 5% call on a prospect four times before quitting
• Only 20% call on a prospect five or more times before they
quit
Here’s the kicker: Those 20% of salespeople close 80% of the
sales in America! You don’t have to become a dynamic personality
to sell. You don’t have to put pressure on people or out-talk people
to sell. The most effective thing you can do is to apply your own
selling savvy, which adds strength to your persuasion, and then
just keep selling!

That is so true. I know agents who spend hundreds of dollars each month buying leads and the ones they don't sell get thrown in the trash.

I told one of them to send them to me. I would get licensed in that state and sell the hell out of them. Sometimes it may take a year or so, but I will sell a fair number of them.

There are those who will say, "You can't do any good with a "cold lead". I don't care how old the "lead" is. It is still a name of a person who will some day will decide to change their insurance.

I sell insurance all the time to people that I have talked to over 12 months ago.

Give me your tired, hungry... and don't forget to send me your "cold leads". LOL

tommyk · 08-12-2007, 06:02 PM

No doubt about it...a lead is a lead until the beneficery cashes in their life insurance policy

somarco · 08-12-2007, 07:15 PM

I talked to an agent a few weeks ago who claims he buys 400 leads a month and only calls once.

I may go overboard with the number of times I call and the time I spend romancing the lead, but it does pay off.

CHUMPS FROM OXFORD · 08-12-2007, 08:27 PM

I rarely call more than three times. Of course, I will email another 3-4 times (over a 30-day period).

After I have left messages (for example)...

On Monday June 1
On Wednesday June 3
On Wednesday June 10

And gotten answering machines each time...I just dread making that 4th call. But every so often (and I'm sure this has happened to you)...when I reluctantly call on June 17th...they say, "I'm glad you called. I was going to call you."

Oh...if only there was a caller ID system that told you what the person's response was going to be on the other line.

***Melmunch3*** · 08-12-2007, 09:17 PM

I basically only sell group health, which means that I almost always am able to contact my leads. Nevertheless, most of my sales seem to be a year or two after I first made contact.
The nice thing is that the renewal date is the same each year so you know exactly when to call them. It is only a matter of time before their broker pisses them off/they get rated to wazoo/the HR directors wifes doctor wasn't in network etc...

CHUMPS FROM OXFORD · 08-12-2007, 11:20 PM

Welcome back. Nice vacation?

By the way...thanks for the "parking" tips. I'm making about $10 per month for about 15 domains. But that's $10 more than I was getting!!!

salpro22 · 08-13-2007, 12:20 AM

Originally Posted by CHUMPS FROM OXFORD

Welcome back. Nice vacation?

By the way...thanks for the "parking" tips. I'm making about $10 per month for about 15 domains. But that's $5 more than I was getting!!!

What parking tip are you talking about? Some tech term regarding website domains???

somarco · 08-13-2007, 06:58 AM

most of my sales seem to be a year or two after I first made contact

That's the way the group business is. Terribly long gestation period, especially for the larger groups. Even the smaller ones can take months to quote and then a few more months before the first commission check arrives.

The last time I started from scratch in large groups it took me 6 months to write my first case and 2 more months to get my first check.

I don't have that kind of patience any more.

healthagent · 08-13-2007, 07:43 AM

One of the reasons my closing ratio is so poor is because I don't do this. I don't call clients 5 times unless I know it's a deal - and I can tell. I especially don't call again when after the 1st call if they gave me a time to call back, I call back and they're very short:

"Listen John, I still don't have any time to go over this and I'm just swamped. I have your information and why don't I just give you a call after I've gone through the information."

Yes...I could call that person back in a few days, a week or a month later. I don't have the energy. ROI for me is simply too good even closing 1 out of 20 and I pay $4 for exclusive leads which means $80 returns $800.

I'd rather just get another 20 leads then spend my day entire day talking to jerks who love to put me off. My services are extremely valuable and I only work with people who want my services. For the record, I agree with this post. If you make call after call you will make a lot more sales. For me, 90% of all my leads never get a second call.

tommyk · 08-13-2007, 07:58 AM

Does your lead company have an exclusives for $4 for Illinois????

healthagent · 08-13-2007, 08:03 AM

Lol. I pay my own marketers $12/hr and they generate 4 leads an hour. The ones who generate more than 4 per hour go to $15 but my lead cost stays the same. I don't share my prospects with anyone.

CHUMPS FROM OXFORD · 08-13-2007, 09:03 AM

Originally Posted by salpro22

What parking tip are you talking about? Some tech term regarding website domains???

"Parking" is where you link a domain to a service that gives it a "website" look with various affiliates. You get paid every time someone clicks on one of the links.

You do NOT want to do this with a domain you are using for your own website.

*midwestbroker* · 08-13-2007, 10:43 AM

I am one of those who hates cold calling. Hate it, hate it, hate it...

But, for my sales, I only have a 6 month window (Oct - March), so I go with carriers who offer pre-set appointments.

FYI - From Oct 1 - Nov 14th, you can write a paper app for a Medicare advantage plan, but you have to leave it with the client.

GreenSky · 08-13-2007, 10:49 AM

Originally Posted by midwestbroker

I am one of those who hates cold calling. Hate it, hate it, hate it...

But, for my sales, I only have a 6 month window (Oct - March), so I go with carriers who offer pre-set appointments.

I don't know of carriers who have pre-set appointments (at least here in Southern California). Who do you use?

By the way, I hate cold calling more than you!

Rick

healthagent · 08-13-2007, 10:50 AM

I'm not a fan either but I can get into the zone and just do it. To be honest, I'd recommend that brand new agents suck it up and telemarket themselves. I really do think it's the best way to get off the ground with zero marketing expense. There's a huge learning curve in this business and paying hundreds a week in marketing just adds to the frustration.

Once you're off the ground and have made the mental connection between talking to prospects to writing business then you have many options for farming it out from shared leads to telemarketing.

healthagent · 08-13-2007, 11:01 AM

Originally Posted by GreenSky

I don't know of carriers who have pre-set appointments (at least here in Southern California). Who do you use?

By the way, I hate cold calling more than you!

Rick

I don't about CA either but in MD there's two agencies offering pre-set MA appointments. One charges $25 per appointment and give $300 per app. The other gives free appointments and $200 per app.

Frank Stastny · 08-13-2007, 12:07 PM

Originally Posted by healthagent

I'm not a fan either but I can get into the zone and just do it. To be honest, I'd recommend that brand new agents suck it up and telemarket themselves. I really do think it's the best way to get off the ground with zero marketing expense. There's a huge learning curve in this business and paying hundreds a week in marketing just adds to the frustration.

Once you're off the ground and have made the mental connection between talking to prospects to writing business then you have many options for farming it out from shared leads to telemarketing.

Neither am I! It is the most frustrating thing I have ever done, especially when you go hours without a qualified appointment. That doesn't happen very often, but it ocassionally happens to me.

I guess I am still in the category of "brand new agents" because I still do my own telemarketing. I have tried it all, and with the way I sell, I am more successful doing my own calling than to have someone else do it for me.

I also get to keep all the money I make. Why should I pay someone $240 per week or more just to make a few phone calls for me? All they will do is get the person to say that they would like me to call on them. That isn't a sale. To me, it's barely an appointment. Those are easy to get.

When I call myself I can get valuable information, log it for future calls, let them have the opportunity to "get to know me" before I knock on their door and have a feeling about whether or not it will lead to a sale.

If I don't think it will lead to a sale, I don't set the appointment. When I go on an appointment I know that I have at least an 85% chance of making a sale.

That's why I do my own telemarketing.

A major part of that "huge learning curve" is knowing how to prospect. If you haven't learned to prospect successfully, how are you going to teach a telemarketer to prospect for you?

healthagent · 08-13-2007, 12:15 PM

I guess to even simplify it more we can use the Dr. Phil; "So how's that been working for you?"

If you want to pay for leads and it works then it works. Why change. However, if you're paying the leads and getting your ass handed to you then it needs to change.

There is no single marketing method that will fit everyone. I know agents who buy leads and do well, agents who call themselves and do well, and agents to farm out telemarketing and do well. Just know yourself. I am moving away from all of this crap by slowing dumping money into local advertising. I think it'll take more than a year or possible two for my phone to ring enough to make decent money. I for one am tired of chasing people down. I cannot picture myself calling people who are trying to avoid me 5 years from now.

If you abhor cold-calling then you're not gonna do it. You will always find an excuse not to call. The only advice I have is this:

"The definition of insanity is repeating the same action and expecting a different result." So if this business isn't bring in what you want, and you have a passion for it, then you need to make a change.

dmiller90 · 08-13-2007, 12:21 PM

Frank I totally agree with you, You hit the nail on the Head. I appreciate your post.