Does Anyone Successfully Telemarket Insurance From Cold Call to Close

[deleatme]

I have telemarketed exclusively in other industries from the initial cold call to wrapping up the sale and closing. Does anyone do that in the insurance industry? If so, how difficult is it to take care of things life medical exams, etc. over the phone? Thanks for any info.

john

 

[Frank Stastny]

That is the only way I sell insurance. I work the senior market.

 

[bluemarlin08]

Yes

 

[HomeService]

A lot of people do it, I don't think I personally would like to do telesales, but a lot do.

 

[deleatme]

Frank - Can you tell me what products you market to seniors and do you rent/purchase lists that have been scrubbed for the DNC reg?

bluemarlin - Could you tell me what markets you are in and the products you sell?

Thanks to both of you for responding. With the downturn in the economy I am looking at doing something different and believe I would be good in the insurance field IF I could telemarket.

 

[djs]

Deleatme -

There may be a terminology thing going on here.
I hire out my telemarketing to develop leads for me to sell. From there, I do a lot of telesales, some office appointments, some client home appointments, and even the random starbucks appointment.

Frank telemarkets, but sells (closes) in person, I believe.

I believe what you are looking for is a telemarket to a telesale, with no customer face to face time. A lot of people do this (for health, some life, little P&C), but there are tradeoffs.

- Closing ratios tend to be lower. It's easier to say no to someone on the phone than it is in person. Keep in mind, your closing attempts should be higher since phone conversations tend to be shorter, with no commute time.
- Retention tends to be lower. When you meet someone face to face, there tends to be a stronger relationship, they tend to feel like they know you a bit better.
- Boredom can become your worse enemy. I don't know about others, but I can't sit in a chair all day and talk on the phone for 8 hours straight. I like to mix it up with some face to face time.

That said, a lot of people are very successful at telesales.

Dan

 

[beatuplunchbox]

I started doing telesales/web conferencing in august and close a few more than when I was going face to face, but you are absolutely right about the retention factor. My percentage of drop offs is quite a bit higher than when I was doing face to face and the other downside is that I have had more prospects lie to me about things that have gotten them rated up or declined.

Its kind of hard to lie to someone that sees you are overweight or have a counter full of medicine bottles or see that newport hanging out of your mouth......

 

[deleatme]

djs - Thanks for the clarification. Since I've been doing it(telemarketing/sales) for so long the term telesales hadn't been used when I first got into it so I've always called it marketing, but you are right I am talking telesales. And it's really nice to hear that it is being done. I am aware of the tradeoffs. It happened when I went from in-person to telesales. Am I correct in l assuming then that closing is still closing, that is abc and always assume the sale?

Also how would one find those GA's that are currently doing telesales that would be interested in bringing someone on board?

Thanks In Advance

john

 

[somarco]

My percentage of drop offs is quite a bit higher than when I was doing face to face and the other downside is that I have had more prospects lie to me about things that have gotten them rated up or declined

.

If it is that noticeable, you are doing something wrong.

When I moved from belly to belly sales to telesales, the only thing that changed was I was closing few sales. Belly to belly gave me a fairly high closing ratio. The trade off was the time involved, fewer sales presentations and of course the additional expense. No shows & one-legs are something I never handled very well. Doesn't bother me as much when someone tells me to call but then refuses to answer their phone.

I qualify people in just the same was as I did face to face. I have very few declinations and few clients drop off.

 

[deleatme]

somarco - Thank you for responding. Now that I have the terminology right do you also telesale from cold call to closing and if so can you tell me what products and markets you currently work in?

Thanks,

john