FINAL EXPENSE DIRECT OR DIGITAL BGA?

[noah]

Hey Jeff,

What is a tenured agent? Is it time in the business or time on board with you?

How about what percentage of agents make it past the first year ?

1 out of three?
1 out of 4 ?
1 out of five ?

How about the percentage of 1st year agents that lose 10-15k ?

Do any 1st year agents that leave owe him any money?

Does he release agents that leave in the 1st year ?

Who keeps the unearned commission and renewals when the agent quits within that first year ?

Does he use that money to inflate his numbers?

 

[WinoBlues]

How about what percentage of agents make it past the first year ?

1 out of three?
1 out of 4 ?
1 out of five ?

How about the percentage of 1st year agents that lose 10-15k ?

Do any 1st year agents that leave owe him any money?

Does he release agents that leave in the 1st year ?

Who keeps the unearned commission and renewals when the agent quits within that first year ?

Does he use that money to inflate his numbers?

Like you, I have been doing this a long time.
Newbies in years 1-3 fall out daily regardless if F2F, Telesales, Virtual (like me), or any hybrid of those.

On the other hand I would guess newbies are much more trainable than seasoned agents like us. Also, newbies don't know it can't be done. Many times mature agents are pretty jaded to anything that isn't what they do. The old "back in my day..." thing.

Numbers can be subjective. Example, one guy closes 20%, another guy closes 10%. Which one netted more income. One guy is averaging just $60mo per household the other is closer to $100mo. Just Numbers.

Hope you stay dry.

 

[DonP]

We have ramping and tenured agents. These are sales rates for various TV ads from tenured agents after 30 days has passed so it includes follow up.

You don't believe 15%, so I'm sure you won't believe this.

View attachment 14967

unless one saw bank accounts with deposits and total expenses those #'s only mean 1 thing . The person who overrides (you in this case ) made a shit ton of overrides .

 

[JRoot]

Hey Jeff,

What is a tenured agent? Is it time in the business or time on board with you?

Hey! For our full time call center agents it's 3 months because they're having 7-8 presentations/day. They're getting a ton of reps in with daily training and they're gone before 3 months if they're not progressing.

For independent agents, it's based on time with us (not in the business) and working the business daily. So it's subjective and we tag them internally so we can get a real understanding of averages that don't include ramping agents that are still learning.

 

[JRoot]

How about what percentage of agents make it past the first year ?

1 out of three?
1 out of 4 ?
1 out of five ?

How about the percentage of 1st year agents that lose 10-15k ?

Do any 1st year agents that leave owe him any money?

Does he release agents that leave in the 1st year ?

Who keeps the unearned commission and renewals when the agent quits within that first year ?

Does he use that money to inflate his numbers?

Agents that make it past the first year? More like 1 out of 5 right now - we screen agents out as well. Really, those that don't make just don't apply consistent effort or didn't invest enough in leads and there's nothing we can do about that - that's the majority of agents out there.

Agents that lose $10k-$15k? 0% that I'm aware of. We're very clear that if you're not at least break even with money out vs deposits in the first month and consistent effort is being applied, this business isn't for you.

1st year agents owe the life insurance companies money (if they have chargebacks), not us. If they don't pay the life insurance company back, we have to pay. It's more like 1st year agents that leave in the 1st year leave us debt to pay, not owe us money. It's a liability to us.

Yes, we release agents with no debt at any time. We can't seem to stop releasing to @Rearden and his free lead program, haha. All good, most agents should be on a free lead program.

Agents keep the unearned commission and renewals when they leave us. They're vested 100%.

 

[JRoot]

unless one saw bank accounts with deposits and total expenses those #'s only mean 1 thing . The person who overrides (you in this case ) made a shit ton of overrides .

That's your lens on this data?

I guess not everyone is able to see the hard work and massive investment it takes to achieve this.

You're assuming this is all override business on agents paying for leads (the majority is not) and that we make a "shit ton" on this without factoring in the overhead (100+ employees) which is significant.

 

[WinoBlues]

Thanks Jeff @JRoot haven't been on your Sell Term forum in a long time but you guys have always been pretty transparent.

 

[nickin910]

lol . You think you're going to get 15 inbound quality leads a day ? That's 75 a week . Quality inbound leads cost at least $45-$50 a lead . No way they spend $3800 a week on leads . Most free lead programs are Facebook generated $5-$10 leads and the agent has to call out

It varies depending on your talk time… it can be 10 leads or up to 15.

They said they spend about 2K-2500 a week per agent on their leads for those on their free lead program.

The leads are inbounds from different mediums - FB, instagram, YouTube, TV.

None of their agents are doing any outbound. I verified that with them. ZERO outbound.

 

[nickin910]

FEX Direct is a fine telesales shop. You can't make a bad choice here. I know the owner and see him at least once/year.

Just some updates, we have a $40 inbound web lead with a 75 second buffer. We released it 3 weeks ago and tenured agents are writing 15%+ of those. We could have a $22 inbound lead with no buffer, but that would drive agents mad. Wait times are less than 2 minutes and usually near instant because of new ping technology we launched 3 weeks ago.

FEXDirect's former Sales Manager in their call center for 8+ years trains independent agents at DigitalBGA. He had good things to say about them when he came on board.

Jeff Root! Much respect and appreciate the content you put out on YouTube.

When you say FEXDIRECT are you referring to Final Expense Direct?

Also - you now have a $22 web inbound lead but with no buffer?

 

[nickin910]

We have ramping and tenured agents. These are sales rates for various TV ads from tenured agents after 30 days has passed so it includes follow up.

You don't believe 15%, so I'm sure you won't believe this.

View attachment 14967

Quite a bit of nay sayers when it comes to telesales…