Buying Leads for Life Insurance/investment Related Products?

[asu47]

Well thanks for the advice everyone. Im going to talk to my manager again today.

I did 2 different networking events last night that, again knocked me down so hard that I for the first time ever feel like I am failing at something.

I don't get how anyone gets connections "networking". I go to these places, thres 20-30 people there, all of which are circled in a group talking. I stand in a damn corner, sometime someone can see me struggling and out of pitty come talk to me.

After the first one, I decided screw it, im going to throw back a shot and just walk up to groups and introduce myself.... Even more of a failure, one group, 4 guys standing in it. I introduce myself, 3/4 don't even respond to me and continue their conversation, and one guy at least said hi.

I guess I am just going to cold call people. I really only have about 2 months left before I hit the point where I don't want to dip into my savings anymore. I have 0 income and no help.

I'm considering throwing in the towel and going to work for a bank. I spent way to much time getting all these damn securities license, I can't let it go to waste.

 

[gymguy]

What inspired/encouraged you to get into the business you are in?

 

[asu47]

I've just always been good with money. I've never really been an investor, but I've just handled money forever. I've always giving my friends money advice, and have even gone with them to negotiate loans, buying cars, etc. I thought I could help them out, but they are my age and just don't have the money to start doing this stuff. I also just love helping people. I can see the intrinsic reward from helping people out with their finances, because I am very well aware not everyone is good with moneyI'm an entrepreneur by heart. I've been running online businesses for 4 years, and was pretty successful at it for being 18-22 years old. I was making more then my mom (occupational therapist) was at one point :P.

In a way, I kind of enjoyed learning the material on the series 7 and series 65. I really get that stuff, and I just don't know **** about insurance nor how to sell/market it.

I went to a networking breakfast today and actually liked it. This group was very welcoming, and wasn't just an open mingle. It was an actual group/club/association. I'm all excited, I tell my manager when I talked to him today and he shot me down because its during training in the morning. All these round table type groups are in the early AM which is when training is...

I brought up buying a lists from listshack.com and again got shot down. I told my manager I hate this networking, that I don't mind calling people. He won't give me a script, nothing, just says keep networking.

He also recommend start calling lawyers and CPAs and trying to sit down with them, but I feel like its going to be the same dead end. I'm sure an experienced CPA already has a financial advisor they send business to.

I should also mention, if it wasn't for these other online businesses I wouldn't be sitting here. I've build up a ton of cash as a nestegg, and quit the other businesses to pursue this. Now I have no income and I'm hitting the point where I can't afford this anymore.

I bought a house and car after saving for 4 years with my other businesses. I have real bills I have to pay, where a lot of guys in the office my age are living with their parents/still being supported by their parents.

 

[belvedeer]

I've been right where you are, in fact at MM myself. I'm now independent. When I was at MM and MOO, I sold a ton of term and DI. I think I may have a copy of my old mortgage protection script, if you'd like to PM me your email.

One thing I did was build relationships with COIs, specifically guys who were only doing P&C. I would refer people to them to get quotes on auto or home owners, and they would refer me term or DI quotes, though it was mainly term. It helped me build a solid book to start and still helps me to this day.

Use your natural market to your advantage. Just be sure when you set up an agreement with someone for sending referrals back and forth that you ensure the guidelines are well defined.

If you'd like to discuss that idea a little further, feel free to pm me and I'll be more than happy to help. Also no I'm not a recruiter for any company, I just what it was like starting out and struggled quite a bit until I got up and running.

Best of luck!

 

[gymguy]

You sound like a worker which is very good. Very few people actually grind. In my opinion, you should focus your time into identifying a person or a group that has been successful doing what you are trying to do. You are basically out there trying to invent your own wheel so to speak about how you will consistently get new business. This is no wrong or bad per say. The downside is, its very hard and there is no telling how long it will take before you develop you own program to consistently generate new business. If you can work with a group who can provide you with a clear cut plan, it will cut down your learning curve tremendously and save you a ton of time and money.

For example, I sell final expense 100% over the phone, and I have a specific vision about how I want to do this. This is a very challenging endeavor for a variety of reasons. There is no person or organization I can turn to that will has accomplished what I am trying to achieve. They simply don't exist. That is the only reason I am working on my own. If there was one, I would have already contacted them.

However, if I was going to sell final expense face to face, I wouldn't dream of trying to create anything on my own. All there is to know about how to sell final expense face to face, has been discovered and thoroughly proven time and time again. It would be down right foolish and egotistical to think I needed to create a whole new program. I would simply plug into a proven successful program and duplicate the hell out of it without regard of my emotions or feelings.

I may be wrong on this assumption, but I doubt it. There has to be a person in your area, or a company either locally or remotely that has already been successful at the very business you are in. Just find them and duplicate like rabbits. The key thing to look for is are they successful and can they show you a clear cut plan about how you will write new business consistently. If they cant provide you with all the answers about how you will do xxx, they are fake.

Gl man

 

[asu47]

Thanks gymguy. I mad the switch from AXA to massmutual thinking I would have more mentorship and people who are giving me a plan. In fact all I did was get a manager whos to busy to give you 5 minutes of his time, and keeps saying NETWORK NETWORK NETWORK. I keep telling him its not working, its not working, its not working. Especially when other guys in the office go to the SAME event I do, and pull 5 meetings from it (these guys are in their late 20s and look it)

I keep asking with this advice from these people and the advice they give is garbage. I personally think meeting people in person isn't happening, because its not getting me anywhere. I'm not even getting a business card out of it. I feel as if they look at me as some young punk just trying to sell insurance to everyone I can.

I have met some other people on other forums who work for massmutual, im going to try and get in touch with them and get some advice.

Im at the point where I'm sitting in my office staring at the wall because I can't figure out what to do, and all I end up doing is researching and doing stuff like posting on forums to get some direction.

 

[ltcadviser]

Thanks gymguy. I mad the switch from AXA to massmutual thinking I would have more mentorship and people who are giving me a plan. In fact all I did was get a manager whos to busy to give you 5 minutes of his time, and keeps saying NETWORK NETWORK NETWORK. I keep telling him its not working, its not working, its not working. Especially when other guys in the office go to the SAME event I do, and pull 5 meetings from it (these guys are in their late 20s and look it)

I keep asking with this advice from these people and the advice they give is garbage. I personally think meeting people in person isn't happening, because its not getting me anywhere. I'm not even getting a business card out of it. I feel as if they look at me as some young punk just trying to sell insurance to everyone I can.

I have met some other people on other forums who work for massmutual, im going to try and get in touch with them and get some advice.

Im at the point where I'm sitting in my office staring at the wall because I can't figure out what to do, and all I end up doing is researching and doing stuff like posting on forums to get some direction.

You mentioned you have run online businesses for years, and have been successful at it. Use this skill set to be successful at insurance.

How about starting a disability insurance website aimed at white collar professionals. Start a blog. Write blog posts..."best disability insurance for dentists." "best disability insurance for attorneys.' etc. Generate leads for yourself from throughout the country. Follow up on the phone with them. Sell them Mass Mutual DI. Or Guardian, or Principal. Or Met Life. Whatever. Cross sell term life, LTC, etc. You don't have to network; you don't have to meet with anyone. You just have to provide the right advice, and the right policy for their needs. This is not hard. Use your noggin.

 

[asu47]

LTC, I was thinking that actually, but again that is a long term thing. It took about a year and a lot of money invested into SEO work before I started seeing results. Theres no way around that, google's algorithm enjoys seeing sites that have been around over a year.

Also, I reached out to some other people I've met on different forums, and thankfully they told me don't stress the networking BS because a bunch of it is a waste of time, especially these open mingle happy hour ones. Universally, it seems I need to do what works for me, and just because going to networking events for some doesn't mean its right for all.

I have been thinking about somehow finding people who currently have term insurance, and either A) convert it to something cheaper or B) convert it to whole life or something.

My friend had a term life through northwestern that didn't make much sense in terms of suitability. I got him hooked up with a massmutual product, and saved him $5 a month and increased his DB from $100k - $250k.

 

[ltcadviser]

LTC, I was thinking that actually, but again that is a long term thing. It took about a year and a lot of money invested into SEO work before I started seeing results. Theres no way around that, google's algorithm enjoys seeing sites that have been around over a year.

.

Do not let what you think might happen stop you from finding out what will happen.

You can call me at (800) 891-5824 and I will share my personal experiences with you.

 

[thecommercialguy]

they told me don't stress the networking BS because a bunch of it is a waste of time, especially these open mingle happy hour ones.

I want to clarify LTC's comment because I think he has something super valuable here. The main value in his comment is not the practical detail he's providing you (blog, etc). The value is in him speaking from his experience, which is to "provide value to the customer first." This sets off the natural relationship building chain we all inherently know is natural;

1) You invite them to content -> 2) They gain value from the content -> 3) The content builds credibility for the messenger (you) -> 4) The messenger can speak the message (product) -> 5) The messenger can ask for business -> 6) The prospect can grant the business.

The general public dislikes those in our industry and positions with a passion for the reason that we have notoriously chosen to take the short term route of starting the relationship at stage 5 shown above, or at least believing that a 10 minute phone conversation can circumvent stages 1~4.

What you do from here, I'd be happy to discuss further if you wish. I'm 32 and have made it thus far straight out of school and what I mentioned above is what I wish someone told me when I started out instead of "dial 200 day!" or "it's all about activity!"

Hayato
closingcommercial dot com