UnknownGenius
New Member
- 15
You have anger issues....
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moonlight, you have anger issues...
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Cold Calling for Both Term and UL Insurance
- Thread starter adamantium
- Start date
You have anger issues....
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moonlight, you have anger issues...
Again, I am stating that it is "probably not the most effective way", but it's better than doing nothing. If a person doesn't have anything to do, they should at least be talking ot people on the phone I also stated that I do it 5-6 hours a day, but I work about 10-11, which leaves me plenty of time to follow up and do other prospecting and appointments.I get a huge thrill out of creating a prospect and completing a sale that I created. No thanks on the lying part either, but I do appreciate the advice.
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If you are referring to me, get your facts straight. It's 4 months and 12 sales. HA-HA One day we are going to meet and I'm going to give ya a big ole hug!!
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- Thread starter
- #23
adamantium
New Member
- 16
Well it is interesting at any rate to see your guys various opinions. I agree that cold calling is not easy and is actually very tiresome, however at the same time I think it will produce the results I expect it will. Roughly the same as a direct mailer. Now is it more labor intensive, yes but more cost effective as well, yes again. Therefore I would rather work harder and save the extra cash than spend more for the same results. Thats just me though for some they would rather do the exact opposite and I can respect that as well. Just curious though what is the important MA change, UnknwnG? I am not a senior agent so I dont know. Moonlight, Do you like being the "Interesting Man in the World? Second, What do you think the percentage of D2D is like?
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VaDwayne, How many solid prospects do you get for cold calling 5-6 hrs a day? How many days a week do you cold call? Are you just selling term or something else?
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VaDwayne, How many solid prospects do you get for cold calling 5-6 hrs a day? How many days a week do you cold call? Are you just selling term or something else?
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UnknownGenius
New Member
- 15
That was an example. I know there are some changes to MA recently and some disputes about it in the news, so you can read up on that.
But the idea there is to find something that sparks their interest. And more importantly, work with a sales concept that you can sell to your Target Market.
And as I said before, there are alternative cost effective ways that you can prospect other than cold calling that work way better. I am talking like $20/wk...... Answer my previous questions and I can help...
But the idea there is to find something that sparks their interest. And more importantly, work with a sales concept that you can sell to your Target Market.
And as I said before, there are alternative cost effective ways that you can prospect other than cold calling that work way better. I am talking like $20/wk...... Answer my previous questions and I can help...
- Thread starter
- #25
adamantium
New Member
- 16
Ok but I dont know exactly who my target market will be yet. I am considering selling lower level term to the younger families as well as UL to the older ranks who may already have a policy in place, as I am told the rates are alot lower today than just 5 yrs ago. My problem is that I dont know how to reach these markets yet effectively. I am just not convinced of mailings. Any suggestion UnwnG?
UnknownGenius
New Member
- 15
The first thing you need to do is to put together a Target Market. Consider a few things; What age range, income range, demographic would you feel most of a connection with? You want to think of who would buy from you as well as who you feel most comfortable with. (For example; I was 21 when I first started in the business, I couldn't sell a policy to anyone over the age of 55 they just didn't trust me yet, As I progressed in the business I was able to build relationships with people and learn how to effectively sell these clients)
Have you done a Project 200 + Yet? Gather a list of names of people in your personal market and use that as a reference for the Demographic of people who you would feel comfortable. If you associate with people in the age range of 25-35, then obviously you would be able to talk to other prospective clients in that age range as well.
The next step once you have a target market is to come up with a sales concept. You are going to have to not talk product with people, but talk about concept, clients buy life insurance based on it filling a need they have. (IE, if a client buys a new home, they may need to protect their mortgage if they die/become disabled) Think of life cycle changes.
Then find out how to get a hold of those types of people!! and get referrals to other people like that!!!!!
Good luck.
UnknownGenius
New Member
- 15
Don't sell product, sell value!! you are looking for clients, not just to sell products!
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I have a reply to your post coming soon as the mods approve. It goes in further detail.
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I have a reply to your post coming soon as the mods approve. It goes in further detail.
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I sell mainly Med. Supps. and final expense. I put many future prospects in my YIO for future use, and I do this by finding out which carrier they use and if the have a PFFS or not. I would say 2-3 good prospects an hour, but many that wouldn't qualify as what I call a prospect. I call them future prospects.
I am patiently waiting November 15th, and I am going to run crazy replacing PFFS policies in this area. The biggest employer in my town, DuPont, has their retirees with Aetna PFFS plans and they hate it plus Aetna is pulling out of the PFFS market and we don't have a local HMO.
The life insurance customers that I experimented with last week gave me more prospects per hour, but they are not as easy for me to close on the phone as the Med. Supps. As a matter of fact, I suck at doing that but with practice I will get better.
With Med. Supps my goal is to find out their current carrier, how much they are paying, and if they have a PFFS plan, and I try to get an appointment.
With the life calls, I want to get permission to email them rates, some pertinent information, and if they currently have insurance. I will follow up the next day after I pique their interest. I just started trying this so I'm not sure how many sales it will bring but I do have 2 appointments from it. When I first started I got about 8 permissions to email information, per hour. Probably 3 of those are qualified prospects, but that is just a gues at this point. I have not used "the law of large numbers" to figure this out but I'm working on it.
I also send a Living Will that I got off of the internet, but I don't tell them about this because I don't want them to accept the email just to get it. It also lets me know if the actually read the email when I call them.
Here's they way I have been approaching this business. I am looking at the future, and sure there are guys on here that are making tons of money now, but I know that if I consistantly ad a customer every day or couple of days, that three years down the road I will be sitting pretty.
This is the way I approached the car business, and I still get calls on my cell from people looking to buy from me regularly. When the market tanked, I had repeat cutomers keeping me out of soup line,which is where the fast talkers ended up.Go slow and steady, follow up consistantly, thats the way to do it.
The script I posted early works to get prospects, now turning them into sales is another issue, but I'm thankful I have people to speak to.
Most people doing any sort of marketing look at what someone else is doing and tries to copy it. This is insane. By definition, marketing needs to be fresh, exciting, and relevant.
Many will say direct mail works, many (more?) will say it is a waste of time. Many will say cold calling works, more will say it doesn't. As long as there are more that won't do it than will, you might be on the right track. What doesn't work right now is trying to sell on the internet without talking to clients and only having a website you put up last week.
The phone, along with the post office, are tools of the trade. They are not a marketing program. Saying you do direct mail or saying you do cold calling, is not a marketing program, though frequently it is positioned as such.
In direct mail, the piece you mail and the 'call to action' is everything. To busy, to complicated, to boring, to blah, it goes in the garbage. Problem is, not everyone defines these the same way.
The same thing with the phone. Caller id does not stop people from answering the phone. You might not answer, but others do. If nobody answered, cold calling would stop overnight, which hasn't happened. The phone is a tool. Your pitch, your offer, the tone of your voice, your confidence, your expertise, your enthusiasm is your marketing plan, not the call.
Anything works if you work it. Some things are more productive than others. The most productive thing is to have someone else doing the selling for you. From there, you just need to decide what you want to do.
Dan
Many will say direct mail works, many (more?) will say it is a waste of time. Many will say cold calling works, more will say it doesn't. As long as there are more that won't do it than will, you might be on the right track. What doesn't work right now is trying to sell on the internet without talking to clients and only having a website you put up last week.
The phone, along with the post office, are tools of the trade. They are not a marketing program. Saying you do direct mail or saying you do cold calling, is not a marketing program, though frequently it is positioned as such.
In direct mail, the piece you mail and the 'call to action' is everything. To busy, to complicated, to boring, to blah, it goes in the garbage. Problem is, not everyone defines these the same way.
The same thing with the phone. Caller id does not stop people from answering the phone. You might not answer, but others do. If nobody answered, cold calling would stop overnight, which hasn't happened. The phone is a tool. Your pitch, your offer, the tone of your voice, your confidence, your expertise, your enthusiasm is your marketing plan, not the call.
Anything works if you work it. Some things are more productive than others. The most productive thing is to have someone else doing the selling for you. From there, you just need to decide what you want to do.
Dan
- 14,808
...this is nominated as post of the year.
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