Closing Ratio Vs Quotes Sent? Declaration Pages?

[Rick Deckard]

I am trying to figure out the approx close ratio from leads you work hard to generate thru cold calling. I will zero in on X-Dates specifically.

You or the TM calls 3-4 hours a night from X-Dates going back 5 years. I have seen folks post about a lead per hour perhaps a little more or less at times. Please no door knocker numbers, we know we know.

Assume you generate 10 quality leads where there is more than 1 initial cold call, they get back on the phone and you quote. 10 quotes a week on Homeowner's Insurance within 45 days of renewal so they have to make a decision and out of 10 leads you close...How many?

Is there any way to increase the closing ratio that you know of or a better question is what system maximizes the opp to close your cold call leads?

Thanks and appreciate your feedback and help.

 

[todd02]

I am trying to figure out the approx close ratio from leads you work hard to generate thru cold calling. I will zero in on X-Dates specifically.

You or the TM calls 3-4 hours a night from X-Dates going back 5 years. I have seen folks post about a lead per hour perhaps a little more or less at times. Please no door knocker numbers, we know we know.

Assume you generate 10 quality leads where there is more than 1 initial cold call, they get back on the phone and you quote. 10 quotes a week on Homeowner's Insurance within 45 days of renewal so they have to make a decision and out of 10 leads you close...How many?

Is there any way to increase the closing ratio that you know of or a better question is what system maximizes the opp to close your cold call leads?

Thanks and appreciate your feedback and help.

This question is entirely based on your carriers competitiveness and your skill set to sell. Way to broad of a question. Maybe post your carriers and location but good luck having a similar person, In similar markets, with similar carriers.

 

[Rick Deckard]

This question is entirely based on your carriers competitiveness and your skill set to sell. Way to broad of a question. Maybe post your carriers and location but good luck having a similar person, In similar markets, with similar carriers.

Greetings Todd, thanks for engaging me.

-I understand but in general terms, you pitch 10 homeowner's a week you cold call contact thru X-Dates, assume you can save them a couple bucks, what is the typical close ratio? Of course one's skill set weighs heavily but there has to be an approx close ratio.

-Example is Guru has posted he does a mailer, might get 3-5 replies total but his close ratio is something like 75-80%, again he is working on folks who replied via mail so that is different.

-Cold Call 15-20 hours a week, make 10 quality leads where they are willing to sit down and allow you to walk them thru the policy. 1:3, 1:4, 1:5...i hope it's not 1 out of 10.

Folks seem to chase people on home and auto, lots of quotes. I want to focus on people who will not waste my time as much. Serious buyers or by law must own insurance. Close ratio has to be better on those peeps.

Appreciate the feedback and understand it is not the easiest question to answer.

 

[djs]

Rough numbers:
100 calls = 1 appointment
5 appointments = 3 held
3 held = 1 sale

The more screening you do upfront, the fewer appointments you get, but the higher the closing ratio. Just depends where you want to spend the time.

The real problem is though on the front end. Getting people to answer the phone nowadays is difficult. Still works, but its getting harder to actually have the initial conversation.

Single biggest item you can find out to improve your closing ratios is why they will entertain the idea of spending time with you to talk about insurance. Know what problem they want to solve and then solve it. If they are meeting with you because you promised to save them a few bucks, close rates will be lower. If they are meeting with you because their current carrier just doubled their rates because they just added their 16 year old son to the policy, your closing rates will be MUCH higher.

Dan