Can anyone Recommend Quality Med Supp Leads?

Aug 2, 2016

  1. kgmom219
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    kgmom219 What's Next?

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    All if the above makes perfect sense.

    And $150 for COA on an O65 plan is a great target.

    And just FYI, I don't buy leads from him or anyone else.
     
  2. insurance5511
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    insurance5511 Super Genius

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    35$ for internet will get you zero volume...try 70+ will allweb t65...and they wonder why I drink
     
  3. grod
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    grod Super Genius

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    Thank you for the explanation and posting those numbers. As for me, I self generate my own direct mail. Have been doing it for the past few years. My cost per acquisition is about half of what it would be if I were to buy $7,000 worth of leads from you. As I look to improve my systems and lead flow, it sure won't be by purchasing leads from a lead vendor...no offense. Bottom line, you (lead vendors) are too expensive.
     
    grod, Aug 4, 2016
    #13
  4. Glen Shelton
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    Glen Shelton Guru

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    Can you please post specific examples (including price points) of your "self generated" direct mail program as well as how you get your acquisition cost in the $70 range?
     
  5. Professor Leads
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    Professor Leads Guru

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    If I only closed 5% of purchased leads I would have left this business a long time ago. Those are cold calling rates. $140-$160 COA seems high to me. I think a common target for Med Supp agents is 15 apps/month so that's $2100-2400/mo leads budget to make about $3750/month FYC.

    I suppose 10% COA (~$150 COA/$1500 6 yrs of commish) isn't bad in the long run, though. I just don't think it's necessary to spend that much to acquire 15 clients/month.

    The other problem I see with spending that much on leads is that an agent becomes so invested in that way of prospecting that he/she neglects working other angles.

    I think a better approach is a combination of purchased leads in the $1000/mo range + networking + cold calling + referrals (actively asking for them from every client).

    That should net the same results with half the cost while also helping the agent grow as a professional. Of course, scale that to your goals if 15 clients/month is too low.

    But if someone wanted to pay me $2100-2400/month to generate leads I would hope that agent could write at least 20/mo if he/she really worked those leads. I wouldn't feel like I am delivering much value to the agent otherwise.
     
  6. Glen Shelton
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    Glen Shelton Guru

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    5% would be the absolute minimum anyone should be closing.

    Those who are more skilled and have a strong follow-up system can be closing in the 8%+ range which can make a big difference.

    Again, $140 - $160 for the O65 age group is really good. The only way you will be getting less than that is through referrals/networking ($0).

    I'm a HUGE fan of diversification of marketing efforts, if you search for previous comments I have made, I usually mention this.

    Also to note, everything I have mentioned is in regards to selling over the phone.

    Selling F2F will look completely different.

    ----------

    Also - everyone's marketing budget looks a little different. If an agent is brand new, then yes, spending time doing your own cold calling is not a bad idea.

    However, if you have been doing this long enough, doing your own prospecting in that method is ultimately going to hold you back from making a lot more $$$ in the long run.

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    BTW - did you even decide on a price point yet for your "lead program"?

    I would imagine it's hard to figure out what customer acquisition costs when you haven't even decided that yet ...

    My program is tried and true, I have agents/agencies/call centers who have been using it for well over a year.
     
  7. vic120
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    vic120 Guru

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    I remember When you first started You did a bit of testing yourself, You were not so sure what you would charge either

    I have started using his leads and early tests have had decent results
     
    vic120, Aug 5, 2016
    #17
  8. Glen Shelton
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    Glen Shelton Guru

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    I have tons of agents I work with who use Internet leads. I think the world could use a decent internet lead vendor - most out there are terrible.
     
  9. hockeyday
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    hockeyday Guru

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    so what do the numbers look like face to face? I think far to many people have fallen for this over the phone BS, can an agent build a med sup/MA Biz face to face in a 50-100 mile range from their office
     
  10. vic120
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    vic120 Guru

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    What do you mean Fallen for?
     
    vic120, Aug 5, 2016
    #20
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