What would you do?

agent007 · 06-05-2007, 11:54 PM

Lets say you have $1000 for marketing purposes. What and how would you invest in order to get the most bang for your buck?

1.Self mailers.
2.Telemarketers
3.Postcards

MP is the product you would be selling. Also those 3 are just some options, if there are any others please chime in.

Thanks

salpro22 · 06-06-2007, 12:14 AM

Originally Posted by agent007

Lets say you have $1000 for marketing purposes. What and how would you invest in order to get the most bang for your buck?

1.Self mailers.
2.Telemarketers
3.Postcards

MP is the product you would be selling. Also those 3 are just some options, if there are any others please chime in.

Thanks

1. Cigars
2. Alcohol
3. Pay per view

Joking aside, I would take 50% and invest it in a few telemarketers and keep the rest as a reserve until your pipeline starts to build up.

Frank Stastny · 06-06-2007, 01:35 AM

I work the senior market. I would buy a list and start calling. Through experience with telemarketers, postcards, etc, I get the most out of doing my own prospecting.

I can buy a list of a thousand for around $100. That will get me around 10,000 names, addresses and birth dates. After the list has been scrubbed I will have around 2,500 with phone numbers.

Over the years I have become pretty good on the phone and have not really had a major problem setting my own appointments.

SME · 06-06-2007, 10:51 AM

I'm an internet leads person so I would take $250 to one lead vendor, $250 to another lead vendor, and save $500 to try other leads later on. It may take a while to find a lead source that you like and that can give you what you want.
If I was brand new to the insurance field and didn't know what kind of leads worked best for me then I would split the money. Try internet leads, telemarketed leads, and cold calling from a list then see what works best for you. Also talk to some of your carriers they may have matching funds for marketing, or yellow page ads. It'll make the dollar stretch further.

agent007 · 06-06-2007, 11:01 AM

Originally Posted by SME

Also talk to some of your carriers they may have matching funds for marketing, or yellow page ads. It'll make the dollar stretch further.

Thats a new one for me. I may call them to see what they can offer.
Thanks

SME · 06-06-2007, 11:39 AM

I know that in AZ Humana gave us a $600 yellow page ad and we only paid for $168 of it. Once with BCBS NM I did mailers and that was a great deal. It was something like 1000 mailers that they had designed and printed with your info they provided the list, but you got to select the target area and demographics and the cost was minnimal. The cards even had that tear off end that could be mailed back for more information. It was a pretty sweet deal, and you could do it every 3 months as long as you had decent production with them.

Insurance Phoenix · 06-06-2007, 08:30 PM

I would invest the entire budget on leads. If you need to try four or five to find one you like, fine. But leads are about the best thing going.

Insurance Phoenix / Arizona Auto Insurance

Originally Posted by agent007

Lets say you have $1000 for marketing purposes. What and how would you invest in order to get the most bang for your buck?

1.Self mailers.
2.Telemarketers
3.Postcards

MP is the product you would be selling. Also those 3 are just some options, if there are any others please chime in.

Thanks

agent007 · 06-06-2007, 08:35 PM

Now when you say leads, are we talking from a lead source and cold calling them or what.

I do want to turn this capital into potential leads, just not sure which way to go.

bluemarlin08 · 06-06-2007, 08:53 PM

007,
If you are selling MP, and you have competitive companies i.e. Banner, AIG, Genworth, ING, West Coast, Pru etc etc, I would buy internet leads for term insurance and MP. I get about 5 to 7 return on my investment, but I use local leads and been around awhile. I sell all by phone and never even meet the folks, I'm sure I could make additional sales if I did meet, but real busy. I have had a very good relationship my company for the past 2 years. You want a company that has a good bad lead credit program

agent007 · 06-06-2007, 10:35 PM

Originally Posted by bluemarlin08

007,
If you are selling MP, and you have competitive companies i.e. Banner, AIG, Genworth, ING, West Coast, Pru etc etc, I would buy internet leads for term insurance and MP. I get about 5 to 7 return on my investment, but I use local leads and been around awhile. I sell all by phone and never even meet the folks, I'm sure I could make additional sales if I did meet, but real busy. I have had a very good relationship my company for the past 2 years. You want a company that has a good bad lead credit program

Yes bro, I am selling MP. AIG, Gen, Americo, Fid Life, and a few others that I can write through.I mostly go and see the ppl, but am working on trying to limit that as much as possible. I have never boght internet leads, who would you suggest to look into. I used to work for an IMO and he did nothing but lead card mailers. Not sure what the response rate was say out of every 1000 or so. Thats what I am afraid to do, spend money and not get many back.But it worked for his organiztion though. Just not sure which way to go without losing more than I have.

senior-advisor-indiana · 06-06-2007, 11:22 PM

I can buy a list of a thousand for around $100. That will get me around 10,000 names, addresses and birth dates. After the list has been scrubbed I will have around 2,500 with phone numbers.

Frank, you are awesome and I would pay you as lot of money if you showed me how to turn a thousand name list into 10,000.

JSF · 06-06-2007, 11:41 PM

That's nothing, Jesus fed 5000 with 5 loaves and 2 fishes.

Alsky · 06-07-2007, 12:05 AM

Originally Posted by bluemarlin08

007,
If you are selling MP, and you have competitive companies i.e. Banner, AIG, Genworth, ING, West Coast, Pru etc etc, I would buy internet leads for term insurance and MP. I get about 5 to 7 return on my investment, but I use local leads and been around awhile. I sell all by phone and never even meet the folks, I'm sure I could make additional sales if I did meet, but real busy. I have had a very good relationship my company for the past 2 years. You want a company that has a good bad lead credit program

How do you get the MP apps signed... to the best of my knowlege, electronic signatures are not available for AIG, ING or Genworth... not sure about the other companies you mentioned. Do you mail the app to your client for them to sign and then have them return to you?

Frank Stastny · 06-07-2007, 01:13 AM

Originally Posted by senior-advisor-indiana

Frank, you are awesome and I would pay you as lot of money if you showed me how to turn a thousand name list into 10,000.

It's easy. He said he had $1,000. $100 for 1,000 names. There are 10 $100 in $1,000. 1,000 names times 10 = 10,000 names.

I will be looking for your check, I'm sure it is "in the mail" as we speak.

agent007 · 06-07-2007, 01:17 AM

Originally Posted by Alsky

How do you get the MP apps signed... to the best of my knowlege, electronic signatures are not available for AIG, ING or Genworth... not sure about the other companies you mentioned. Do you mail the app to your client for them to sign and then have them return to you?

Actually Fidelity Life is the only one out of the companies I use that offer electronic sigs. Otherwise I have to hop in my car and make the drive.

bluemarlin08 · 06-07-2007, 06:52 AM

I mail, email, or fax the application.

Alsky · 06-07-2007, 09:25 AM

Originally Posted by bluemarlin08

I mail, email, or fax the application.

I would love to hear your pitch as to how you set this up and offset the fact that you will not see them face to face. Do you key on the fact of this being a time saving alternative for the client as opposed to a face to face?

In addition, what percentage would you estimate just sit on the app once they receive it?

I have always thought Health can be done this way very successfully because of the fully electronic apps and submissions and as attested by many members on this board, but life? I'm intrigued...

Thanks...
Al

bluemarlin08 · 06-07-2007, 10:06 AM

I started doing this type of business about 3 years ago. I do see some of the prospects, depends on certain circumstances. Probably 30% of the folks do just sit on the apps. Sometimes, if the premium is enough, I will go and complete the application. Many people love this approach. I know other agents that do business this way and are very successfull. You have to have alot of leads.

senior-advisor-indiana · 06-07-2007, 10:16 AM

It's easy. He said he had $1,000. $100 for 1,000 names. There are 10 $100 in $1,000. 1,000 names times 10 = 10,000 names.

I will be looking for your check, I'm sure it is "in the mail" as we speak.

You tricked me! What a sleezy insurance salesman

Yes the check is in the mail. But I forgot to get your address so you will have to wait till it gets back to me.

Oh yeah and I didn't actually say how much, I just said alot. $10 is alot to me

Frank Stastny · 06-07-2007, 10:54 AM

Originally Posted by senior-advisor-indiana

You tricked me! What a sleezy insurance salesman
Yes the check is in the mail. But I forgot to get your address so you will have to wait till it gets back to me. Oh yeah and I didn't actually say how much, I just said alot. $10 is alot to me

They taught me that trick in Insurance Selling 101, thought everyone knew that. How else can you sell this stuff?

Hell, if I had $10 right now I might consider retiring. That is a lot of money, do you really have that much all in one place?