Cold Doors 2020 - Discussion Thread

[walleye]

The Advanced Approach, it covers everything the first set did and more.

 

[FIA_Guy]

The Advanced Approach, it covers everything the first set did and more.

Thank you. A lot of his stuff on youtube seems to be geared toward med supp sales and recruiting. Any of his stuff related to Final Expense?

 

[walleye]

Thats what its about working lead card for life insurance.
Here is another excellent source for prospecting, Claude Whitacre
http://claudesblog.com/videos

 

[KRobby]

I am absolutely convinced that this is true, though I don't mind working leads as well. What I have been doing is cold knocking door to door on the sunny days, and running leads on the days it is raining. If it ever gets cold this "winter" I will also run leads.

Not much to update, really. I didn't have much actually pay out in January. I am starting have some annuities hit and some life premiums have been paid over the last few days.

I really have come to see how important it is to just ramp up your activity level and conduct massive, massive prospecting now because whereas FE is a game of days and weeks, what I am doing now is a game of months and quarters. Wrote a bit of FE in January, and will write it when it is there to be written. If I'm going to hit my goal for the year, much of it will be paid in the the last two quarters.

On the plus side, given what has already issued and paid for February and the cases I anticipate I should be at mid five figures by leap day, and I've not yet spent a dime on leads this year.

I have scheduled two mailings though - one drops next week and one will drop in March. These are not FE mailers. The total pieces will be close to 3000, all homes near my home and office. I expect I'll get 20 to 30 cards back, but I also will own the list for the year, and that will become my targeted door knock list for the foreseeable future.

So how many folks visited your office after your cold knock?
What type of annuities were sold?

 

[DayTimer]

Priming the pump right now - I figure its going to take three to four months to get the commissions flowing steady. Lots of air in the line right now.

Still lots of air but its starting to spit cash here and there now ...

 

[WinoBlues]

Still lots of air but its starting to spit cash here and there now ...

Filling the pipeline.

 

[DayTimer]

Filling the pipeline.

Yupsir. Like I said before, probably going to take a good four months of stuffing biz in there before it starts coming out the other end regular. But on the plus side I'm writing larger premiums and also writing annuities.

The younger folks can sometimes fly through underwriting but the older folks just drag.

It is much easier to get the annuities approved for suitability but then you are waiting for their broker to honor the ACAT and that just drags and drags.

And most of this business is not one call close type of business. So, you know, there's that lol.

And I'm writing some big premium cases but I'm setting them up for minimum death benefit/max cash value accumulation for the most part so the target premium that I get paid on is much lower than the AP I've written.

So maybe it'll be six months lol ... doesn't matter. I just keep banging away and I'll do fine. Heck, I barely prospected this week as it rained three days and today it was actually cold, so I wimped out. I need to get a pair of gloves that fits over my brass knocking knuckles.

I've been doing some FE to pay the bills. However, over the next two weeks I have about at least four, possibly five decent cases (life + annuities) that will get paid out. Once that money hits I'll be keeping that money in my checking rather than putting away so I'll be pretty well capitalized for this transition. Thereafter I doubt I'll be running FE any longer. I'll still write it when its called for, but I won't be specifically running FE leads or knocking a specifically FE list. I wrote a couple this week a $220K annuity. Also wrote them some FE.

I am doing some DM. I was going to do two mailings but decided to break it into three mailings of a little more than 1000 pieces each: One is going out any day now, another in mid-March, and a third in Mid-April. As I mentioned before, I have the mailing list and that will become my targeted door knocking list.

It's going to cost me about $505/1000 for the list and mailing combined. So far this year I've spent just under $400 on leads and those were FB FE leads. I think with the three mailings and the lists that might be all I need to invest in leads for this market for a few months, and maybe for the year. Which will be a heck of lot better than spending the $30K+ per year I've been spending - though I suspect that most of that lead savings will ultimately just be transferred to the IRS rather than a lead company and bypass me altogether. It is what it is.

To get this started I joined a local agency (office, conference rooms, incredible presentation technology, case design support, ability to get underwriters on the phone, in-house broker-dealer to facilitate money in, free access to various software, e.g. LEAP, Wealth Building Cornerstones, etc., ) and all I know is it is killing me that I'm nowhere to be found on the damn leaderboard yet. They have 108 agents and the top 30 make the leader boards - one for life commission and one for annuity premium. I have more than enough in the pipeline to get me into the top 30 for both life commissions and annuity premium. Just waiting for it to drop.

Four to six months and I should be on the leaderboard to stay.

 

[DayTimer]

I am doing some DM.

This is the mailer I'm sending out (by Lead Concepts):

 

[DayTimer]

This may appear politically motivated and I watched this because I was interested it in it from a political perspective.

But as it turns out this is a wonderful commentary on the power of language to persuade and to sell. The Frank Lutz discussion is particularly useful. But throughout I found myself linking the strategies and tactics here used for political persuasion to insurance and annuity sales.

IT IS FREE TO WATCH IF YOU HAVE AMAZON PRIME.

Amazon product ASIN B01C6AFDM6

 

[rousemark]

This may appear politically motivated and I watched this because I was interested it in it from a political perspective.

But as it turns out this is a wonderful commentary on the power of language to persuade and to sell. The Frank Lutz discussion is particularly useful. But throughout I found myself linking the strategies and tactics here used for political persuasion to insurance and annuity sales.

IT IS FREE TO WATCH IF YOU HAVE AMAZON PRIME.

Amazon product ASIN B01C6AFDM6

Link not showing