Closing Ratios and Techniques

[jdeasy]

Hey guys and girls I would like to start a thread on the percentage of sits that turn to sales. This is for the big guns that have been doing this for some time. I don.t use a presentation I have a back and forth conversation with each person I talk to using the basics of finding need and want. I am currently closing over 85% of face to face visits. I know that sounds crazy but that is a fact that really amazes me. I really would like to read about your techniques to see if it is possible to close more sales for all of us . I run all my leads no phone appointments. Any takers here? Thanks

I don't care how big of a gun they are I've never known one to close 85% of their face to face visits. I know I have the highest closing ration to leads in a group with over 1000 FE agents and that's at almost 40%. Naturally I don't sit with all the leads but I do make appointments with 2 out of 3. I get 15 leads per week. I average sitting with 10 of those and I write 6 apps a week on average. So I'm at 60% and I'm number one at my FE IMO. You are 25 points higher than me.

I need advice from you. There's nothing I can help you with.

 

[Todd King]

I don't care how big of a gun they are I've never known one to close 85% of their face to face visits. I know I have the highest closing ration to leads in a group with over 1000 FE agents and that's at almost 40%. Naturally I don't sit with all the leads but I do make appointments with 2 out of 3. I get 15 leads per week. I average sitting with 10 of those and I write 6 apps a week on average. So I'm at 60% and I'm number one at my FE IMO. You are 25 points higher than me.

I need advice from you. There's nothing I can help you with.

One of the reasons mine was so high is because of two factors: I mostly lead with Med Supps, and I pre-qualified over the phone.

The only time I didn't pre-qualify them on the phone was when I was running pre-sets. My ratio was still the same, if not higher. The pre-sets were mostly pre-qualified as well.

FE was mainly the cross-sell.

Maybe the thing was that the manager that trained me had just as high of a closing ratio, so I didn't know I wasn't supposed to close that many. Who knows?

 

[backinthesaddle]

I do not close 85% of my leads. I close 85% of my face to face kitchen table visits.I'm not trying to justify my closing ratio just trying to get ideas posted to help other reps.

 

[Agentguy5]

Yeah, I think that once I can help the client see that there is a "need", my closing ratio is about 75-85%... some folks just don't have the need and some folks just don't have $20 left at the end of the month and they would rather eat than have the life insurance...

 

[gordon112]

Yeah, I think that once I can help the client see that there is a "need", my closing ratio is about 75-85%... some folks just don't have the need and some folks just don't have $20 left at the end of the month and they would rather eat than have the life insurance...

So true, I do a lot of qualifying as well and when I sit down with them I usually do that range as well.

 

[slushpuppyking]

Yeah, I think that once I can help the client see that there is a "need", my closing ratio is about 75-85%... some folks just don't have the need and some folks just don't have $20 left at the end of the month and they would rather eat than have the life insurance...

Their priorities are so messed up!

 

[nfl72]

origional statement

"I run all my leads no phone appointments. Any takers here? Thanks"


That statement is totaly different than what Todd and others are taling aobut. Tod states he qualifires over the phone, which surely increases your closing ratio. I do the same thing and I will close 75% of my sitdowns.

This guys comes right out and states he does not schedule over the phone, which I assume to means he doesnt' speak with them before he does a drive by. So when he goes to a house and can't get in he isn't counting that as a rejection. If the guy invites him in and finds out it is about insurance and then tells him to take a hike is that a rejcetion? Does that hurt his closing ratio?

The figures don't lie the liars figure.

Spin the numbers until you like them. In my book if I get 25 leads and write 10 policies that is a good job. That ratio is a little more difficult to spin and I believe is a much truer test as to what kind of job is being done.

But then again out of the 25 leads how many buy 2 policies? that can also inflate your closing ratios a well.

85% is not obtainable by anyone if they ae counting everything.

 

[quackattack99]

So, out of 20 DM leads, what would be an average close ratio?

 

[jdeasy]

So, out of 20 DM leads, what would be an average close ratio?

20% is the average for average agents. Really good agents are at 30%. Not so good around 10%

 

[nfl72]

.

How i generaly judge how good i am doing I look at my lead sheets which come 5 leads to a page. I like to see at least 2 sales and am very happy with three sales out of 5. 1 is not so good. In fact when I get 3 out of 5 I work the other 2 very hard, probably way more than I should, I have never had 5 out of 5 sales but have had 4 a few times. I will work those same lead sheets for 6 months or so and If I am in an area and have time to kill I will pop in. When I revisit an area after a year I will pull them back out and work them some more.

In fact with my press one leads I will get the same people responding on numerous occasions over 3 years or so. Just sold one a big policy after getting the same lead 4 times in 3 years. You jsut never know when a good sale comes out of something that seems like a waste of time.

Bottom line is am I making enough to pay my bills and keep my toys. If I am I am a happy camper!