FE Over Phone Top Producers

[Tom Highway]

I am about to send theinsuranceman a PM to check my figures, but it looks to me like mathematically you can come out ahead using his method. I ran some numbers that may be on the generous side, and the thing that puts you over the top his way is the sheer number of people you can talk to.

His way is sort of an outside the box approach to FE sales, almost literally, in that you can be licensed in multiple states and have an almost immediate supply of interested leads each day/week to work, and you're not bound by where you or the prospect live.

The lower commission and cost of leadscan be offset by sheer volume.

Now, the one thing I did not factor in was your ability to cross sell, which is a big part of face to face selling. And I didn't factor in any renewals or lapses/chargebacks for the numbers I ran, which I know are a big part of this argument. But, other things being equal, you can get an apples to apples comparison without factoring that in anywhere.

So, my point is, insuranceman has been pretty much taken to the woodshed on his method, but I am seeing where it could work out pretty well.

 

[Tampa Teddy]

I am about to send theinsuranceman a PM to check my figures, but it looks to me like mathematically you can come out ahead using his method. I ran some numbers that may be on the generous side, and the thing that puts you over the top his way is the sheer number of people you can talk to.

His way is sort of an outside the box approach to FE sales, almost literally, in that you can be licensed in multiple states and have an almost immediate supply of interested leads each day/week to work, and you're not bound by where you or the prospect live.

The lower commission and cost of leadscan be offset by sheer volume.

Now, the one thing I did not factor in was your ability to cross sell, which is a big part of face to face selling. And I didn't factor in any renewals or lapses/chargebacks for the numbers I ran, which I know are a big part of this argument. But, other things being equal, you can get an apples to apples comparison without factoring that in anywhere.

So, my point is, insuranceman has been pretty much taken to the woodshed on his method, but I am seeing where it could work out pretty well.

Post your numbers and let's see what you're working with. I'm assuming that you accounted for a much lower closing percentage, a higher lapse rate and the policies that just won't be accepted by the client? I'm also assuming that you also accounted for the lower quality leads and the high burn out rate for phone sales?

There of course are many more factors involved, such as the limited carriers that allow phone sales and the fact that you won't be able to function in the best interest of your client!

 

[Tom Highway]

Post your numbers and let's see what you're working with. I'm assuming that you accounted for a much lower closing percentage, a higher lapse rate and the policies that just won't be accepted by the client? I'm also assuming that you also accounted for the lower quality leads and the high burn out rate for phone sales?

There of course are many more factors involved, such as the limited carriers that allow phone sales and the fact that you won't be able to function in the best interest of your client!

I'm not so sure you can quantify those things. First, though, I'd like to hear your reasoning why you would have a lower closing rate doing exclusively over the phone sales.

The lapse and not accepted would be the same basic question - why one would be higher over the phone, but that's still just something I didn't factor in either way. I did your basic linear math to show what one week of production either way could be.

I'm just trying to play devil's advocate here.

 

[theinsuranceman]

I am about to send theinsuranceman a PM to check my figures, but it looks to me like mathematically you can come out ahead using his method. I ran some numbers that may be on the generous side, and the thing that puts you over the top his way is the sheer number of people you can talk to.

His way is sort of an outside the box approach to FE sales, almost literally, in that you can be licensed in multiple states and have an almost immediate supply of interested leads each day/week to work, and you're not bound by where you or the prospect live.

The lower commission and cost of leadscan be offset by sheer volume.

Now, the one thing I did not factor in was your ability to cross sell, which is a big part of face to face selling. And I didn't factor in any renewals or lapses/chargebacks for the numbers I ran, which I know are a big part of this argument. But, other things being equal, you can get an apples to apples comparison without factoring that in anywhere.

So, my point is, insuranceman has been pretty much taken to the woodshed on his method, but I am seeing where it could work out pretty well.

Tom, your figures arrived all garbled up, couldn't read them. I sold FE face 2 face for 7 yrs. and then for the last 4 yrs. 98% over the phone. I do very well with either method. I can reach 3 x the number of prospects in the same amt. of time as face 2 face. Now...if the phone sales did not work out don't you think I would be out in the field doing face 2 face?
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Post your numbers and let's see what you're working with. I'm assuming that you accounted for a much lower closing percentage, a higher lapse rate and the policies that just won't be accepted by the client? I'm also assuming that you also accounted for the lower quality leads and the high burn out rate for phone sales?

There of course are many more factors involved, such as the limited carriers that allow phone sales and the fact that you won't be able to function in the best interest of your client!

Teddy, your figures are off, but I know that's because you probably never sold FE over the phone. Maybe I'm wrong. Closing % is about same..maybe 5% less on phone.
Lapses and charge backs about same as face 2 face.
Policies are accepted by the client same rate as face 2 face.

Selling FE on the phone is not for everyone. Same as in the field. To be successful at either takes the same things: Great training, plenty of good exclusive leads, burning desire to succeed, and determination.

When you're calling Ms. Jones to set an appointment for the next day..wouldn't it make more sense to be able to write her up right then? Eliminate the driving time and possibility of a no show, etc.

Whether Ms. Jones buys or not you still do the same thing....hang up the phone and dial the next number. This puts you at the front door of the next lead in 15 seconds. Makes the whole process more efficient.

 

[Tampa Teddy]

Teddy, your figures are off, but I know that's because you probably never sold FE over the phone. Maybe I'm wrong. Closing % is about same..maybe 5% less on phone.
Lapses and charge backs about same as face 2 face.
Policies are accepted by the client same rate as face 2 face.

Selling FE on the phone is not for everyone. Same as in the field. To be successful at either takes the same things: Great training, plenty of good exclusive leads, burning desire to succeed, and determination.

When you're calling Ms. Jones to set an appointment for the next day..wouldn't it make more sense to be able to write her up right then? Eliminate the driving time and possibility of a no show, etc.

Whether Ms. Jones buys or not you still do the same thing....hang up the phone and dial the next number. This puts you at the front door of the next lead in 15 seconds. Makes the whole process more efficient.

Hahahahahahahahahahaha... Oh ... Okay! Try that line of crap with someone that doesn't know any better.

Never assume that you know anything about my background because you don't!

 

[theinsuranceman]

Hahahahahahahahahahaha... Oh ... Okay! Try that line of crap with someone that doesn't know any better.

Never assume that you know anything about my background because you don't!

DUH...Since I don't know anything about your background that's why I said "I believe you've never sold FE over the phone". So, since you ridicule selling FE over the phone, how much EXPERIENCE do you have with selling FE over the phone? Or are you just throwing out guesses about it?

 

[jdeasy]

DUH...Since I don't know anything about your background that's why I said "I believe you've never sold FE over the phone". So, since you ridicule selling FE over the phone, how much EXPERIENCE do you have with selling FE over the phone? Or are you just throwing out guesses about it?

One doesn't have to have sold FE over the phone to know that it doersn't work for the agent. Just as I don't have to be a veterinarian to recognize a horse's ass when I see one.

Now, telemarketing FE does work for the churn and burn shops that promote it. If you are touting it from that angle, then it would work for you.

 

[theinsuranceman]

One doesn't have to have sold FE over the phone to know that it doersn't work for the agent. Just as I don't have to be a veterinarian to recognize a horse's ass when I see one.

Now, telemarketing FE does work for the churn and burn shops that promote it. If you are touting it from that angle, then it would work for you.

Jdeasy...if selling FE over the phone was not working out don't you think I would be doing face 2 face sales? I did 7 yrs. in the field face 2 face before I even started selling over the phone. The last 4 yrs. have been 98% on the phone. I stick w/phone as I make more comm. and profit per block of time worked.

Gotta get back on the phone. With all this snow all the prospects will be home on the 1st call to them. I'll have their undivided attention, etc. Yes...selling FE on the phone is a good thing, especially when the weather is bad. Just do it from home in my favorite chair, wearing something very casual. Just looking at the 60+ fresh exclusive leads I'll be calling next few days, without even cranking the car up.

 

[360]

I can see selling FE over the phone. What I can't see is selling exclusively LH.

 

[Tampa Teddy]

DUH...Since I don't know anything about your background that's why I said "I believe you've never sold FE over the phone". So, since you ridicule selling FE over the phone, how much EXPERIENCE do you have with selling FE over the phone? Or are you just throwing out guesses about it?

I never guess!