Direct Mail Marketing for Mortgage Protection Sales

Aug 9, 2016

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  1. moretrax
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    moretrax Super Genius

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    All the players in the MPI arena who post listing after listing on ZipRecruiter, Monster, etc., catch the reader's attention with lead programs they have available. These IMOs also have an inventory of leads. Big claims are made to make $2K, $3K or even $5K a week from the very start.

    Some people will say anything to get your attention. :D

    I am working through an IMO which does direct mail for MPI and I receive fresh, exclusive leads daily. Some are good, some are not so good. However, I've noticed something that really concerns me.

    At least one-half of all the leads I receive are from individuals or couples over the age of 50. Many of this number are over 65! This higher age group on one hand is good: higher premiums, higher commissions! On the other hand, I'm finding more health issues, risk assessments that result in rated premiums and uninsurables.

    With those, I could fall back on Gerber GI. However, someone looking for $150K in mortgage protection and ending up with $10K in over-priced FE makes me chuckle. I'm sure it's not funny to the prospect.

    OK. So here is my question:

    Has anyone noticed the older responders to these mortgage protection direct mailers?
     
  2. Debrabrkr941
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    Debrabrkr941 Expert

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    YES! Im in florida, working for symetry 1 month. 90% of responders are over 50. A problem with Florida or is someone cherry picking the leads?
     
  3. Justin Bilyj
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    Justin Bilyj Guru

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  4. Debrabrkr941
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    Debrabrkr941 Expert

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    90% though. Seriously, the target market should be 35 to 55. I mean , damn Im getting 10% of my leads inside of the target market. Something stinks
     
  5. Justin Bilyj
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    Justin Bilyj Guru

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    You could just use a list provider (chances are though they have already received mail by that time) and filter by age - might have to widen your area a bit...
     
  6. Deadlily
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    Deadlily Guru

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    SFG does not assign it's best quality A-Leads to new agents. That isn't good business. Their top producers get the best leads. You could call that cherry picking. :yes:
     
    Deadlily, Mar 30, 2017
    #6
  7. Justin Bilyj
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    Justin Bilyj Guru

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    Depending on commission levels, it might make sense to mail alongside the agency, with a different mailer...
     
  8. Debrabrkr941
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    Debrabrkr941 Expert

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    How is that fair to me to give me the old people and someone else the younger when Im paying the same damn $27 for the lead. Why is my downline manager not telling me that the big agents get first choice if thats so fair and good business practice. All I get from him is "we dont do that at symmetry". I know that I have not proven myself at symmetry but that doesnt mean that I am a novice or that Im not a beast in the field. I AM! iF THEY TOLD ME THE TRUTH AND SAID THAT i WOULD GET THE REAL LEADS AT A CERTAIN PRODUCTION POINT I WOULD FIND A WAY TO HIT IT!

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    dEADLILY how is it good practice to tell new agents that they are buying A leads on a level playing field and then sell me , for full price the leads that have one foot in the grave? And then when I have caught them in a lie its all we dont do that. I have been paying for a leads and these have been brutally picked over!
     
  9. Deadlily
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    Deadlily Guru

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    Lesson One - It is your up-line's priority to keep you w/SFG. Your up-line will not share the fact that lead orders are filled based on agent's PPL, because that fact might negatively affect your attitude.

    You should be getting A-Leads (not worked by anyone else yet), however you are not being issued the prime A-Leads. Those are reserved for top producers AND Mentors who still produce.

    You state that you are a beast in the field. How many leads have you been assigned thus far? How much business have you submitted and how much of that business has been Issued/Paid?
     
    Deadlily, Mar 30, 2017
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  10. Debrabrkr941
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    Debrabrkr941 Expert

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    I got one week ,9 leads, that were varied ages, heavy on the overage but not 90% over age 65. This was the first week. I sold 5 policies on the 9 leads and all but one have been issued. That one had a mistake in his medical records that is in the process after being corrected. Those 5 sales produced $4200 in first year commission at their sucky 60% commission rate. Not too shabby for my first week. Then the leads tanked down to the oldsters and I still placed another $1000 first year commission in week 2.Then the leads went down to 0 in the under age 65 group and Im stranded. 3 of the last 9 A leads were not even in Florida when I called them. Back home up north.

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    I am realistic about lead quality but they are leaving me with gristle and bone. Even with my closing skills it will just barely be possible to pay $400 weekly lead cost. I believe that I was given better leads the first week to keep me trying and enough 70 and under leads to keep me hooked into buying the leads in weeks 2 and 3 to keep me paying and in the lead program. In 4 weeks I have only recieved 4 leads in the target range.
     
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