Appointment Setting

[jrb434]

I am a new agent and I have several friends and relatives that either can't or don't want to get an insurance license but would like to make some extra $$ by doing appointment setting. I wouldn't mind using any of them but want to understand what is normal and fair in the market ... how is a freelance appointment setter usually paid? how much is normal? do they go out and search for their own "leads" to set the appointment with? are they usually paid by the appointments set, appointments completed, and are there any bonuses for sales? are there any special restrictions when it comes to medicare (I plan on doing medicare and non-medicare products)?

Does anyone know of any good resources on this topic? Such as books, or Youtube channels, or even blogs?

Thanks in advance!

 

[JoeXY7Elite]

I am a new agent and I have several friends and relatives that either can't or don't want to get an insurance license but would like to make some extra $$ by doing appointment setting. I wouldn't mind using any of them but want to understand what is normal and fair in the market ... how is a freelance appointment setter usually paid? how much is normal? do they go out and search for their own "leads" to set the appointment with? are they usually paid by the appointments set, appointments completed, and are there any bonuses for sales? are there any special restrictions when it comes to medicare (I plan on doing medicare and non-medicare products)?

Does anyone know of any good resources on this topic? Such as books, or Youtube channels, or even blogs?

Thanks in advance!

Hey hope all is well, so comp for a appointment setter can be all over the place depending on how they are being tasked to set those appointments, imo what works best is if you feed them with real time or near real time leads and ask them to call those consumers and book an appointment for that i would pay them per sale to begin with, i would give them a target CPA for example for final expense i would set a target CPA at $150-$200 that means they get paid $150-$200 per sale then just see how many appointments or leads it takes to get a sale and reverse engineer it and see how much each appointment is costing you feel free to dm me would love to help

 

[DHK]

Non-licensed people cannot be paid on a "per sale" basis. That's essentially a commission split and is not allowed per the insurance code.

You can bonus them based on your revenue if you choose (probably monthly), but you really should be compensating for the actual activity, either hourly as a W-2 or per appt set as a 1099. (This is not compensation advice.)

 

[JoeXY7Elite]

No i believe you can pay a traffic source on a CPA cost per acquisition model which is pretty much compensating the traffic source or the lead generator only when an acquisition has been made aka a sale i currently sell calls and leads to several big names in the insurance world that are compensating me in that manner

 

[DonP]

Hey hope all is well, so comp for a appointment setter can be all over the place depending on how they are being tasked to set those appointments, imo what works best is if you feed them with real time or near real time leads and ask them to call those consumers and book an appointment for that i would pay them per sale to begin with, i would give them a target CPA for example for final expense i would set a target CPA at $150-$200 that means they get paid $150-$200 per sale then just see how many appointments or leads it takes to get a sale and reverse engineer it and see how much each appointment is costing you feel free to dm me would love to help

lol . Thats the craziest thing I’ve ever heard . If you’re a shitty closer they make little . Also if you pay them $200 a sale . Let’s say they set you 12 appointments and you sell 3 . Thats $600 or $50 an appt . After your $800-$1000 a week lead cost for dm you’ll be making zip . Pay them about $17 -$20 max per kep appt .

 

[Tahoe Ray]

No i believe you can pay a traffic source on a CPA cost per acquisition model which is pretty much compensating the traffic source or the lead generator only when an acquisition has been made aka a sale i currently sell calls and leads to several big names in the insurance world that are compensating me in that manner

They're doing it based on your traffic/leads, not on the CPA. They've figured out the CPA and then just pay you based on the traffic.

So if they know that they'll place 7 per hundred and you want 200 per sale (1400), their books will look like they're paying $14 per lead, not that they paid you on 7 sales.

Very different than paying a setter that which would require that out of pocket AND the lead cost (like Don said).

What DHK said is correct but how you're being compensated is a workaround I've seen before.

 

[JoeXY7Elite]

They're doing it based on your traffic/leads, not on the CPA. They've figured out the CPA and then just pay you based on the traffic.

So if they know that they'll place 7 per hundred and you want 200 per sale (1400), their books will look like they're paying $14 per lead, not that they paid you on 7 sales.

Very different than paying a setter that which would require that out of pocket AND the lead cost (like Don said).

What DHK said is correct but how you're being compensated is a workaround I've seen before.

Right that is what i meant i think its the best way to do it then reverse engineer it to see how much a appointment is costing you and then move the apt setters onto a per appointment model

 

[jdeasy]

I am a new agent and I have several friends and relatives that either can't or don't want to get an insurance license but would like to make some extra $$ by doing appointment setting. I wouldn't mind using any of them but want to understand what is normal and fair in the market ... how is a freelance appointment setter usually paid? how much is normal? do they go out and search for their own "leads" to set the appointment with? are they usually paid by the appointments set, appointments completed, and are there any bonuses for sales? are there any special restrictions when it comes to medicare (I plan on doing medicare and non-medicare products)?

Does anyone know of any good resources on this topic? Such as books, or Youtube channels, or even blogs?

Thanks in advance!

The best appointments setters for FE are charging in the $15 range for an appointment.

And no charge for a no show.

 

[ApptSetter]

Do you guys think it's better to pay for an outsourced appointment setter to work your data leads or pay for a lead gen company that charges per appointment they book for you?

Is it even worth hiring an appointment setter if they aren't 'in-house'? What do you think?

 

[Tampa Bay Rep]

I prefer using outsourced telemarketers out of the Philippines. I pay an hourly rate. You can find some good English speakers but you you do have to screen your applicants to assess their English speaking skills. If you need help with this. Let me know.