Direct Mail Final Expense Leads

[Jim Jenkins]

I often hear about guys cross selling annuitites etc from final expense. They work in Detroit and I think they are working little pockets where people actually do have money. I work in Battle Creek, Grand Rapids, Kalamazpp and Jackson.

Selling annuities in Detroit and you believe that?

 

[Biggin]

I often hear about guys cross selling annuitites etc from final expense. They work in Detroit and I think they are working little pockets where people actually do have money. I work in Battle Creek, Grand Rapids, Kalamazpp and Jackson.

Selling annuities in Detroit and you believe that?

He SHOULD believe it. Although not from a final expense lead. Detroit (and the surrounding area) has plenty of wealthy folks. Downtown, not so much. There are 10mm dollar annuity producers that primarily work the Detroit area.

 

[agentexhorter]

Then the only question I have is where do I get the 95.4% accurate information?

contact me via my "Contact Me" page on my website
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I'm curious to know more about this study. Those are some pretty precise numbers and a random sampling is going to have a margin of error of I would imagine at least 2%, but it's tough to know for sure until the actual study is shown.

The five compilers doesn't sound right either. I believe Sales Genie compiles their own data and the 85% number sounds about right for them, but 85.9% vs 84.5%? Unless they did a sampling of at least 100,000 records, I'm not thinking there is much legitimacy to that study. If the organization regularly checks the integrity of the data, there should be tons of information available though.

agentexhorter, you can't even give the name of the organization that allegedly did the study? That seems odd. Your math is sound, but if you don't have names of the organizations and can't name the compilers, it's tough to gauge the validity of your statements.

There are more than 5 data compilers. But the majority of all records used by insurance agents come from the 5 that I referenced. Especially since most of the major mail houses use one of them.

I don't have an answer yet from compliance about publicly posting the study overview. If you are interested in seeing that, please complete the "Contact Us" page on our website and let us know what you want. Reference "Data Accuracy" in your comments.

I can tell you the names of the compilers though and how they scored...
Acxiom Infobase.....: 95.4%
KBM.....................: 93.0%
Equifax.................: 91.4%
InfoUSA................: 85.9%
Experian...............: 84.5%

Here is the summary of the study findings...

Results overview:
• Acxiom produced the highest percentage
of marketable records at 95.40%, versus,
KBM's 93%, Equifax's 91.4%, infoUSA's
85.9%, Experian's 84.5%.

• Acxiom's duplicate elimination processes
again far exceeded the other files with just
0.3% file duplicates compared to KBM's
1.2%, Equifax's 2.9%, infoUSA's 4.8%,
and Experian's 5.3%.

• The Acxiom file also contained the fewest
number of deceased records at 0.60%
compared to Equifax's 1.7%, Experian's
1.9%, KBM's 2.1%, and infoUSA's 2.80%.


Hopefully this information will help agents

 

[Josh]

That's really interesting, especially about InfoUSA.

I presume you resell for Acxicom then if you're pointing to this study?

The data I resell gets sourced from a ton of different databases which helps it get up to the 95% or so "marketability" term as you've used it.

Those are really great numbers to know; thanks for sharing!

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Here is where everyone can find that study:

http://sales.mysaleshero.com/newsletter/2010-07/InfoBaseCompetitiveStudy.pdf

It looks like Acxiom did the study so I guess it's less surprising who came out on top, but I'm sure the numbers are accurate.

 

[0b1kanobee]

It looks like Acxiom did the study so I guess it's less surprising who came out on top, but I'm sure the numbers are accurate.

Well nobody does a study where they aren't gonna come out on top. If you were Experian and you did a study like this would you publish it? Just saying

I would have preferred to see an independent source but WTH would want to do that? No money in it unless people bough the study.

 

[agentexhorter]

That's really interesting, especially about InfoUSA.

I presume you resell for Acxicom then if you're pointing to this study?

The data I resell gets sourced from a ton of different databases which helps it get up to the 95% or so "marketability" term as you've used it.

Those are really great numbers to know; thanks for sharing!

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Here is where everyone can find that study:

http://sales.mysaleshero.com/newsletter/2010-07/InfoBaseCompetitiveStudy.pdf

It looks like Acxiom did the study so I guess it's less surprising who came out on top, but I'm sure the numbers are accurate.

I'm glad the information was helpful.

My goal is to offer valuable information to insurance agents. Information learned from years of making mistakes, but always striving to learn from those mistakes.

Like my signature says, I've been there, done that and got the T-shirt too...

 

[Josh]

Well nobody does a study where they aren't gonna come out on top. If you were Experian and you did a study like this would you publish it? Just saying

I would have preferred to see an independent source but WTH would want to do that? No money in it unless people bough the study.

Exactly. When I saw "independent third-party" I thought the implication was that some organization just decided to run the study, but I guess they were just verifying Acxiom's information?

Either way, it looks like they did it the right way and I dig that they took a look at InfoUSA (which is SalesGenie) and the numbers they found there are consistent with what folks have been telling me about their data. Pretty interesting study.

My goal is to offer valuable information to insurance agents. Information learned from years of making mistakes, but always striving to learn from those mistakes.

I looked over your website; are you actually just giving out info or do you actually offer some services? I was looking through your site and it looks like you just have a bunch of helpful information. That's really cool.