2019 Telesales Revolution

[KOC Agent]

Never used Brut. Started out with Hai Karate then upgraded to Jade East before settling on English Leather

Jade East...classic! My older brother had a bottle in his drawer and all I had to do was open it and my Mom and Dad would yell.

 

[Todd King]

Maybe

Some agents just aren't cut out for telesales. The process is much different from F2F. You have to rely on the spoken word absent the ability to take visual clues. Just because someone is good at F2F doesn't mean they will perform in a similar fashion when selling by phone.

I have sold over the phone for so long it has become natural for me. I enjoy the freedom it gives me to cover large geographic areas without ever leaving my home office.

Early sales were strictly F2F even though the phone had already been invented along with direct dialing for long distance. We also used a fax machine to speed up data transmission vs USPS or FedEx.

When ALGORE invented the internet and long distance didn't require a Bezos size bank account it became much more profitable to conduct as much business by phone and email as possible.

If F2F agents are using the same scripts and attempting to duplicate efforts when they sell by phone they will not be successful.

It's not the business model that is defective.

It's the salesperson.

Since this is the FE forum, all of my comments concern FE, not Medicare. That's 2 different products and they do sell differently on the phone. The persistency is naturally different too. So, you really can't compare them side by side with the same set of rules.

 

[Todd King]

Foresters pulled out of telesales (not due to persistency). They weren't even fully committed as it was only available in 28 states. Who else did?

I'm seeing companies leaning toward adding the ability to sell over the phone. RNA did this year for vetted organizations. Others are considering as well.

The #1 independent agent in the nation for MoO Living Promise in 2018 did $295k - it was 100% telesales and is sitting at a 96% persistency on all his business.

If you're working quality leads and sell correctly, your persistency in telesales will be equal or better than f2f.

Jeff, we all can come up with exceptions for everything, but FE naturally has a higher lapse ratio than most products out there. Add to that, that phone sales naturally have a higher lapse ratio and you have a double whammy.

As for $295K with a 96% persistency, I call complete BS on that. I would have to see proof to believe it. No offense. Once again, there are exceptions to everything, but you can't just show those and claim that's the way it is for all TMs and companies. Nor can I show only the least to prove my point.

As for Foresters, they were as committed to those 28 states as any company can be.

As for other companies, yes, there are new companies coming out all the time that want to try their hand at it. As you mentioned, RNA quickly learned to vette the agents and organizations. Do you think they did this because business was just sticking on the books too good?

 

[JRoot]

So there aren't any other companies besides Foresters that pulled out of telesales ...and there are companies getting into telesales? Ok got it. I just wanted to make sure you had your facts straight because you said the opposite before.

I understand where you're coming from with thinking telesales FE has lower persistency - it does for those who aren't properly trained. Those who are properly trained, it's no different than f2f and that's what I'm trying to point out.

There's no reason not to be properly trained these days - there's so many organizations doing it well now.

And regarding the #1 MoO producer, I mentioned that to showcase what can be done - admittedly it's not the norm. And as far as not believing it, I'm ok with that. Anyone who sees him on the MoO trip can ask him and MoO themselves.

 

[somarco]

Since this is the FE forum, all of my comments concern FE, not Medicare. That's 2 different products and they do sell differently on the phone. The persistency is naturally different too. So, you really can't compare them side by side with the same set of rules.

Of course I will disagree. FE, Medicare, snake oil. It's all sales.

The F2F process is different from phone sales. Doesn't matter what the product is that is being sold.

telesales FE has lower persistency - it does for those who aren't properly trained. Those who are properly trained, it's no different

Spoken by one who is not only a teacher but producer.

Todd, how much have you personally produced in phone sales in the last 12 months? Maybe Jeff will share his results and we can compare.

You are on the wrong side of this discussion.

I have been in sales 45 years. Sold F2F and by phone. Some of the places I have been, homes I have been in, and homes where they would not let me in, could probably not be sold by phone.

Unless you had the right product.

People living in a shanty with a 3 meter satellite dish and outdoor toilet WILL buy something by phone but maybe not FE.

I have sold time shares, mortgage refi, mortgage insurance, and all kinds of health insurance by phone.

Also spent time setting appointments for folks selling time shares and loan refi's. These were qualified appointments where all the guy had to do was show up. My appointments had higher close ratios than any of the other people (mostly women) in the phone room.

Not all FE sales require brow beating.

 

[Rob Lion]

Of course I will disagree. FE, Medicare, snake oil. It's all sales.

The F2F process is different from phone sales. Doesn't matter what the product is that is being sold.



Spoken by one who is not only a teacher but producer.

Todd, how much have you personally produced in phone sales in the last 12 months? Maybe Jeff will share his results and we can compare.

Arguing with people who don't sell over the phone about selling over the phone never gets anywhere 6 months ago people we're saying how garbage internet and facebook leads are now everybody is making websites and is an SEO and Facebook guru.

 

[Todd King]

So there aren't any other companies besides Foresters that pulled out of telesales ...and there are companies getting into telesales? Ok got it. I just wanted to make sure you had your facts straight because you said the opposite before.

I understand where you're coming from with thinking telesales FE has lower persistency - it does for those who aren't properly trained. Those who are properly trained, it's no different than f2f and that's what I'm trying to point out.

There's no reason not to be properly trained these days - there's so many organizations doing it well now.

And regarding the #1 MoO producer, I mentioned that to showcase what can be done - admittedly it's not the norm. And as far as not believing it, I'm ok with that. Anyone who sees him on the MoO trip can ask him and MoO themselves.

Jeff, no, I didn't say the opposite.

Listen, I'm not saying you aren't great at what you do and I'm not saying your whole organization doesn't have a great persistency. All I am simply saying is that selling by phone (FE) naturally decreases persistency. I don't care if it is by one percent, it is lower. You can not go by just your organization. You have to look at it industry wide. You may have found "the secret" that your organization uses, but for the most part, the rest of the industry hasn't.

By the way, how long have you been focusing on FE by phone. I know you used to do a ton of term insurance by phone. I was thinking you have only been doing it since you left Pinney. I do understand I can be completely wrong about that.

Somarco: Once again, I'm talking about FE ONLY. That is something you don't do, so I don't understand how you would know.

You asked what I've done in the last 12 months. Not that much, but I didn't realize that all of this has changed dramatically in the last 12 months. If it has, I'll retract everything I've said. But it hasn't, has it?

 

[NSRH]

Jeff, no, I didn't say the opposite.

Listen, I'm not saying you aren't great at what you do and I'm not saying your whole organization doesn't have a great persistency. All I am simply saying is that selling by phone (FE) naturally decreases persistency. I don't care if it is by one percent, it is lower. You can not go by just your organization. You have to look at it industry wide. You may have found "the secret" that your organization uses, but for the most part, the rest of the industry hasn't.

By the way, how long have you been focusing on FE by phone. I know you used to do a ton of term insurance by phone. I was thinking you have only been doing it since you left Pinney. I do understand I can be completely wrong about that.

Somarco: Once again, I'm talking about FE ONLY. That is something you don't do, so I don't understand how you would know.

You asked what I've done in the last 12 months. Not that much, but I didn't realize that all of this has changed dramatically in the last 12 months. If it has, I'll retract everything I've said. But it hasn't, has it?

Todd, for fun, call AmAm and ask them what they are experiencing as their placement and persistency in the field, then ask what those numbers are for their largest telesales group.

If you don't mind, report back your results.

 

[goillini52]

Todd, for fun, call AmAm and ask them what they are experiencing as their placement and persistency in the field, then ask what those numbers are for their largest telesales group.

If you don't mind, report back your results.

Being a Veteran, I don't think Todd wants anything to do with them. Todd has principles.

 

[NSRH]

Being a Veteran, I don't think Todd wants anything to do with them. Todd has principles.

Well, he's contracted with them