Door to Door Life Insurance Sales a Good Idea?

Dec 1, 2015

  1. HomeInsureNY
    Offline

    HomeInsureNY New Member

    Posts:
    11
    Likes Received:
    0
    State:
    New York
    Has anyone tried selling term life door to door? If so, how did it work? If they have wifi I can quote them at home, but do I lug my laptop and all the applications with me? Or do a soft introduction and set up an appointment? Is door to door a good return on your time? I assume it has a better response than cold calling.
     
  2. thomasm
    Offline

    thomasm Guru

    Posts:
    1,167
    Likes Received:
    50
    State:
    Nebraska
    Yes I tried it. I found the older folks were more interested in buying than the younger ones. That's how I discovered the final expense market.

    What part of New York would you be knocking? I've heard east coast folks can be tough to approach. You need tougher skin there than here in Utah, but even still life insurance D2D anywhere is a tough sell.

    Life insurance is a lead driven business. Working aged leads with a multi-line dialer would probably be a better investment of your time than knocking doors or cold calling for term.
     
    thomasm, Dec 1, 2015
    #2
  3. mjmarcum
    Offline

    mjmarcum New Member

    Posts:
    16
    Likes Received:
    0
    State:
    Hawaii
    Don't limit yourself to only term. I would just qualify for simplified issue insurance. Lots of people know that they need insurance and they are just procrastinating. I think if you talk face to face with 100 people you should find someone interested.
     
  4. Citafa
    Offline

    Citafa New Member

    Posts:
    7
    Likes Received:
    0
    State:
    North Carolina
    Just saw post; Happy New Year.

    Regarding Door to Door, the fact is: "there is no faster way to a sale than going door to door". Bar none. However, you must understand, it's not for the "faint of heart". But, if you have tough skin, this will get you there real fast.

    I was a Corporate Trainer for an alarm company "back in the day" where the main method of sold contracts were made "door to door".

    Here's the catch: YOU MUST AVOID BEING REJECTED TOO MUCH AS THIS WILL KILL YOUR MOTIVATION. How can that be you ask? Easy. Without a lot of details about how to respond to the "not interested", "no thank you"; etc.

    Imagine this: Each time you hear a negative answer at the door, it counts for something valuable. That's the key. Do the following and I'll leave it at that.

    Pick a medium income neighborhood, working class folk; no very poor areas, or upper class areas. Folks that live payday to payday, but with enough left to go a movie, McDonalds, etc. You know what I mean. Folks who are thinking they need a little more life insurance, but just hadn't gotten around to it yet.

    Once you identify the neighborhood, go there. You auto should be clean, with MAGNETS ON BOTH SIDE OF THE CAR TO ESTABLISH LEGITIMACY. Make sure they can see your car when they "peek" out the window. Look decent, not sloppy or necessary "dressed up". No need.

    Now, your activity will consist of approaching enough doors until you have heard "13" people tell you they are not interested; or come back another day; call me later; etc. ONLY 13. Once you've done that; you're through for that part of the day. Do it twice per day, 5 days a week. That's it. Nothing else required.

    Ooops; forgot the key to all this; "AS YOU GO FROM DOOR TO DOOR, YOU'RE NOT LOOKING FOR ANYTHING SPECIAL TO HAPPEN; NO SALES, NO APPOINTMENTS; NO FOLLOWUP; NOTHING. I REPEAT; YOU'RE NOT LOOKING FOR ANYTHING TO HAPPEN.

    Once you've spoken to the 13 people, you're through. congratulations, you've just completed what I call "The Magic 13" prospecting approach. Works magic.

    After you've done this for 2 weeks, you'll have so many sales, leads, referrals; etc, you'll have to stop doing it because you won't have any time in your schedule.

    Before letting anyone talk you out of it, prove to yourself first, if I'm telling you right. Take care; Citafa, better known in the day as Mr Bojangles. :yes:

    ----------

    Forgot to say the reason for the "looking for nothing special to happen" is this; there is "NO REJECTION" when you have this mindset.

    Also, have a nice color brochure with your business card, and "A MAGNET FOR THE REFRIGERATOR" with your name and phone number. It remains on the refrigerator for "generations", and is in their eyesight day after day, after day, after day. Wish you well.
     
    Citafa, Jan 8, 2016
    #4
  5. Robert Barney
    Offline

    Robert Barney Guru

    Posts:
    1,301
    Likes Received:
    161
    I think the rejection problem is actually less going door to door than cold calling by phone. People are much more inclined to be nasty when confronting you on a phone (or message board) and they tend to be nicer at the door.

    Appearance at the door is everything. DRESS WELL. Be cheerful.

    The emphasis at the door is that you are there to provide useful information. Have something in hand, that will give helpful, useful information to the consumer.

    I think the color brochure is expensive. You can substitute a website with website address on your card.

    Same thing for the magnet. That's just a big expense and I don't think it is necessary.

    Years ago, when I went door to door, I would talk about my ability to use a computer to shop and compare life insurance from multiple companies and how that can save big money when buying life insurance. If I was doing it today, I would point them to a quote system on my website, or tell them I am the local agent listed at Term4Sale - Term Life Insurance Quotes and Comparisons (assuming that I was listed in the zip code in which I was going door to door).

    The law of numbers says you will hit someone who was thinking about buying life insurance anyway. So even if your not good at it, you will make a sale. But you are going to hear more "no's" and "not interested's" than "yes's" and so you need to remember that each "no" is one more "no" closer to a "yes".
     
  6. heynow5
    Offline

    heynow5 Expert

    Posts:
    66
    Likes Received:
    0
    I've knocked on over 50k doors...95% of success is just showing up at as many doors as possible. The other 5% is how you dress, what flyer you bring, etc.
     
    heynow5, Jan 8, 2016
    #6
  7. Robert Barney
    Offline

    Robert Barney Guru

    Posts:
    1,301
    Likes Received:
    161
    A man after my own heart. Never take rejection personally.

    [​IMG]
     
  8. DHK
    Offline

    DHK "YOU CAN'T HANDLE THE TRUTH!"

    Posts:
    8,414
    Likes Received:
    2,243
    State:
    California
    By going door-to-door, people can "size you up". They can look at your appearance, demeanor, and any visual materials you bring with you. They can "look you in the eye". They can't do that over the phone. You're just another voice trying to sell something.

    If you're going to use a form of 'interruption marketing'... I'd rather be knocked at the door than a faceless person over the phone.

    The mindset is NOT one of "prospecting" to get what you want. The mindset is personal promotion. Just go out and INTRODUCE yourself and the work you do. Keep it professional and brief.

    A sample script:
    "Hello! My name is DHK. I'm just out and about introducing myself and the work I do. Do you have a quick minute?" (You can also add "Or is this a bad time?" depending on the commotion going on in the house.)

    The idea is to ask for permission to introduce yourself. It's generally rude to not let someone introduce themselves.

    Then simply explain who you are, what you do, how you do it, and the potential results/benefits/savings/whatever.

    Then simply ask them: "Does that sound like something that would be useful for you and your family?" (or "and your retirement planning", or "and your business", or whatever - to emphasize the type of prospect you're looking for).

    Now, here's the key: You're going to hear 'no'. No problem. All they said was that they wouldn't find this useful for them at this time. No is not forever. No is 'not now'. In addition, you weren't trying "to sell". You were simply introducing yourself in a professional and courteous manner and they indicated their interest - hopefully also in a professional and courteous manner.

    People generally respond 'in kind' to what they hear. If you are courteous and professional, so will they. Those who are more rude about it... have something else going on in their lives. It's not you... it's them.

    The reason 'rejection' hits us so hard... is because we're trying too hard to "do things perfectly" to get a given result. That's our analytical brain at work as well as our ego trying to protect itself and you. After all, our job is to produce and make money, right? Yet, our brain is constantly analyzing how well we are doing, and it's easy to feel discouraged after a string of 'not interested' responses.

    Our job is to gather and tally results... not to try to control the outcome.

    The good news... is that you cannot say the wrong thing to the right prospect. You just need to find more of them faster.
     
    DHK, Jan 8, 2016
    #8
  9. Robert Barney
    Offline

    Robert Barney Guru

    Posts:
    1,301
    Likes Received:
    161
    Disagree with the former, agree with the latter.

    You can say the wrong thing, but learning to say the right thing requires practice. And it is the numbers that get you the practice.

    If you knock on enough doors, you will get results.

    During 2013 I cold called 10,000 Democrats in my county, and invited them to switch their party registration to Republican. Many told me to go to h e l l. I marked those folks down as a lost cause, to make sure I didn't call them again. Some indicated a possible future interest, and so I called those back months later. Some I swung immediately. In the end I flipped enough Democrats to turn the county into a Republican County.
     
    Last edited: Jan 8, 2016
  10. Citafa
    Offline

    Citafa New Member

    Posts:
    7
    Likes Received:
    0
    State:
    North Carolina
    Lots of good responses; however, let me add a few more nuggets to this conversation that "will vary" a little bit from some of the other posts.

    Magnetic business cards are very important and not a big expense at all. You purchase the "peel n stick" magnets and place your business card on them. I purchased a lot of 1,000 for about $75-80 in bulk. But for now, go to one of the office supply places and buy pack of about 25 for maybe $10-$15 dollars; do it as you can afford. WHY IS THIS IMPORTANT??

    Business cards easily get "lost, misplaced and tossed"!!!! A magnet however is NEVER THROWN AWAY AND GOES ON THE REFRIGERATOR, FILE CABINET; ETC.
    YOU GET THE PICTURE. THEY MAY NOT NEED OR WANT TO TALK TO YOU TODAY, BUT THE DAY THAT THEY DO, IT'S NICE TO KNOW YOU HAVE A SHOT AT THEM CONTACTING, "that nice guy they met" way back when. Nuff said.

    The reason for only getting "13" negative responses is it lessons the amount of time you're exposed to "negative" hearing. Usually takes about 1 and half hours to complete a "Magic 13". However, here's the magic, its almost impossible to do that activity twice a day without stumbling onto either a sales, hot appointment ;etc. Indeed, the magic of numbers start to take over.

    Here's one of the most effective door approaches I've used. First, keep in mind, your presence at their door, "was not expected", so the people insid

    e are doing "something", if it's just watching TV. Anyway you look at it, you'll be interrupting them. NOW: As you approach the door, notice things around you, the car, toys in the yard, pretty flowers; anything that you can mention if needed. Here's the approach:

    Ring or knock; as they open the door, "step back slightly, and back down a step (if on steps) and say this:

    "Morning, my name is Bill with ABC Life, Hope I didn't interrupt your Lunch; DID I?" (OR DINNER;ETC)

    Continue: "Let me tell you why I stopped by. By the way is that a 68 Corvette, 65 Truck, or "how did you get those flowers to grow so pretty; etc; etc; etc;"

    The reason for "changing the subject away from your real purpose of being there is this; remember you said ABC Life, so they know who you are, but in their mind "you're still a stranger"; their mind is on "sizing you up"; are you a bad guy, do you appear innocent; are you a threat of some kind". In other words, the first 12-15 seconds of them hearing and seeing you, they really aren't paying you much attention; Their mind is on "whether to "fight or flight"; on the alert; etc. Hopefully, a little trust is established so you can continue; If not they may, say "not interested" and don't let you go on..Thats OK; they just weren't looking for you.

    After that small conversation about the truck, flowers, etc; continue: "Again, my name is Bill with ABC Life, and I have one little question I'd like to ask you; most folk already have their Life Insurance in place, but if you had "an extra $5K, or $10K that you wanted to leave to someone who you cared about, or did you a great favor and wanted to do something special for them when your "time comes", WHO WOULD THAT PERSON BE????

    Now, it's important that you remain silent until you get them to respond. Once they tell you who that person is, continue, "Well, if you've got a minute or two, I can show you how "little it cost" with my company and that will give you something to "think about", and "see if you like it". Fair enough????

    Now wait; they may be too busy now and ask can you stop back later; yes come on in; call me next week; etc; etc; etc;

    However, you'll be shocked on how many people will say, "You're not going to believe this, but I just got a Life Ins brochure out of Sundays paper, and was going to call them this week; the Lord must have sent you by to see me. :yes:

    Here's one I used to hear all the time, "Extra insurance, I don't have any" since my job laid us off last summer, come on in".

    Well, hope these extra pointers will help anyone thinking of going "door to door"
    ; not many people do it anymore, so it becomes a "real fun thing" for the people whose door you decide to knock on. Enjoy, and happy hunting.

    ----------

    Forgot one more "POWERFUL NUGGET', as you're going from door to door, remember these words of wisdom::'YOU'RE LOOKING FOR THE ONE THAT'S LOOKING FOR YOU".

    The mindset is this, many people have already been thinking about buying some more Life Insurance on themselves, the kids, grandkids; etc. And all of a sudden you're at their door; "YOU'RE THE ONE THEY'VE BEEN LOOKING FOR", AND THAT'S WHO YOU WERE LOOKING FOR TOO. :):yes:
     
    Citafa, Jan 9, 2016
    #10
Loading...