NAF1138
Guru
- 261
I am! I just got my first leads there for this cycle today. When are you free?
Final Expense Telesales | The Good & The Bad
- Thread starter Rearden
- Start date
- 5,958
- 5,958
I figured it was just about time for you to show up and try to replace me again!
I'll shoot you a text tomorrow and we'll set something up.
- 19,619
Ole Henry was right on that. Someone probably wrote it for him.
Henry also hired goons to attack his own workers.
Not a fan.
tippingpoint
Super Genius
- 109
You prefer face to face? The inbound commercial leads are $60 and it looks like there's about a 40% close rate on these.
Im 98% face to face . I like face to face as getting a connection much easier . But fe telesales has exploded and I can see the big appeal . Windshield time and grinding wears on you . I only work 3 days a week in field outside open enrollment usually . But my closing ratio is very high so I can work less .I did a gtl over the phone this past week for an existing client . It's the easiest app out there . For Sig it's a text to phone they just click on acknowledgment . As far as 40% close rate on in bound lead for $60 you're being lied to . Possibly 25% if it's a tv or steaming type lead .Are you looking to do face to face or telesales ?
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- 19,619
Where does it look like that? If someone told you that they are closing 40% of those leads ask for proof. I wouldn't believe 15% except by a handful of the very best.
- 5,958
The best that I am aware of is an agent working TV leads closing close to 30% in his most recent month or months. This is a real agent who I could name (but won't) and his closing percentage on these leads has been vouched for by others in a position to know his conversion rate.
If you put TV lead conversion rates on a graph in order to view the results as a Bell curve, I'd wager the upper tail peters out at 40% or less. The mass of the Bell will likely be 15%-23%, and then the bad tail going down to zero.
In addition to conversion rate, the other metric, of course, is average AP. A 20% closing rate on a $66 lead that results in an average AP of $1200 is $330 acquisition cost and a pretty attractive ROI. A 20% closing rate on a $37 lead with an average AP of $600 is a $185 acquisition cost and also a pretty attractive ROI.
But if I could choose, I'd choose the 20% $66 lead over the 20% $37 lead because profitability and time efficiency are much more attractive in the TV lead instance.
When I used to cold door knock a list of seniors, my lead cost over 1000 names, even if I did spend $500 on a 1000 piece mailer, is in the pennies, because every name is a lead to me. My average AP on door knocks over time was $840 (right at $70/month avg premium). My cost of Aquisition was just a few dollars per client. But when I was doing that I was out there 8-10 hours per day Monday through Friday, and usually at least 10 AM to 2 PM on Saturdays.
My closing percentage of F2F presentations was very high. But my conversion rate on any 1000 name list floated between 5% of the list to a high of 8.5% of the list. And it took time, lots of it, to go out there and knock those doors and get in to make those 50 to 85 sales.
As JD and others have said over the years, you can buy leads with money or you can buy them with time. There isn't any such thing as a "free" lead. Spend you cash or spend your time.
In the end, what matters most is what is discussed on this forum least: profitability.
How much does it cost you to acquire a client? How much revenue does that average sale generate? That is your gross profit.
Then subtract gas, milage, CRM, business cell, website, business email, E&O, state licensing fees, technology (computer/printer/FAX), paper, printer ink, paper clips, folders, etc. ...
But I digress.
Buy leads, whether with your time or with your money, work those leads as hard as youo can to make contact with as many of them as possible, make sales, and then buy more leads, whether with your time or your money. Plenty of people out there need what we sell.
Correct . That's what people don't understand . Time and efficiency are an agents most important asset . Hell i can take a list and knock on 100 doors and sell 8. But it's not efficient and takes too much time . Personally i want to always be presenting in front of people that expressed some degree of interest by filling out a card. A tv lead has the highest intent as they picked up the phone and called you . It's also the most expensive . I always think back to what Anthony Martin who comes on here sometimes said " I'm not really selling I'm just taking orders" . He used his talent to find a way for people to call him . His ad's are organic and cost him nothing ,We all strive to make that happen . But for 99.9% of agents that comes in the form of referrals calling you . A referral has the highest roi. I see a lot of guys on the net bragging how they do $300k or higher of premium . Show me you bank account on what you netted at the end of the yr after all your exp's and chargebacks . Thats all that matters . Your upline is the only one who profits on your gross commissions.
tippingpoint
Super Genius
- 109
Thanks for asking. I'm comfortable with either I'm trying to put together a plan. I was full time sales for nine years previously (selling new and used Freightliner trucks) I just needed a break and I'm ready to go back to work. I'm 59 I need something I can do from home for the remainder. I have my life license I'm thinking I better go ahead and get my health also. It looks to me like the senior market will be the place to be for a while given the economy and the learning curve.
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