First day cold calling a FLOP

[Russ]

Your question can best be answered by asking another question.

Did you help her and is she in a much better position with her health care now than she was before she talked to you?

To me that is the most important "rule" to comply with.

Can you envision an intelligent person seeing it any other way? Oh wait, CMS is a govt agency. There goes that argument. haha

Yes, she is in a much better position and gave me a hug when I left. She was the first MA I ever replaced.

She also referred to me to another lady I have to see next month.

 

[Vitamin C]

Your question can best be answered by asking another question.

Can you envision an intelligent person seeing it any other way? Oh wait, CMS is a govt agency. There goes that argument. haha

Agreed, initelligence need not prevail. I'm just a newer agent so based on what I've read, you need to have a verbally recorded or written permission to come see the prospect regarding an MA. I suppose, if they contacted you, they should sign something along those lines.

I also understand that the scope of the appointment must be recorded. In addition, we are not supposed to talk about anything other than the MA plan we came to see them about and we may not physically create a comparisson or any of our own materials!!

It's OK to leave a brochure behind on other product but not discuss.

THIS IS NOT OFFICIAL stuff, just my interpretaion. I would agree that if the beneficiary is better off with the new product, then that is the best thing.

The trouble lies in "whose interpretation" was the beneficiary's coverage "better?"

Then again, what they think is better for them when you walk out of the appointment, may not be better for them several months later as certain situations develop. What a fun job we have.

Not trying to beat a dead horse here though. Plus This poor thread's gone in 3 different directions already.

 

[Jacob59]

Cold calling WILL NOT work for everyone. I'm just making a point that it can work well for some.

ROI - I pointed out the numbers earlier. I can quote 1 out of 5 people with which I speak. I can close 1 out of 4 quotes. This is an average over time. Obviously, it fluctuates day-to-day. So, 20 contacts = 1 sale. I spend $1,000 a year on a database. The average commission exceeds $1,000. My ROI is driven by how much time I invest, but can easily be 12,000%. Although, ROI is really not a sensical way to measure cold calling revenue.



I'm very serious. I can close 5% of my cold call contacts. Most people close 5-10% of their internet leads (including me). The difference is, I didn't spend 50% of my commission on "marketing" to get in touch with the cold call. Therefore, ROI is going to be higher.



Often a pop up that says "Save $782 on XXXX Insurance" spurred that interest. I do the same thing when I call; I just don't give the lead to 7 other agents. I look more professional not being in a pool of people pleading for their business.



Correct, if you don't have a marketing background. I came from statistical database marketing in corporate financial services. I use targeting to decide what groups have the highest propensity of need for my products before I call.

Even at the corporation with which I worked (where we spent millions on direct mail), our telemarketing call centers tracked well above the direct mail on ROI.

I'm not going to post about it again. I'm not some Joe who knows nothing about marketing. I do. I just want you to consider my viewpoint on cold calling. It works. Some people have call reluctance. It isn't for them.

I doubt you'll agree with me on it. But, that is what I know. Just take it as another professionals opinion.
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I'm done with the subject. Thanks for the spirited debate.

You are right "my friend." (I'm not John Mcain) It does work and it works great. The truth of it is this. Most people have taken the path of least resistance in their career. It takes more courage, resilence, determination, and thick skin, to go door to door. But, when done properly you will build a clientel that will be extra loyal and will stay with you longer down through the years. It's personal. I know because I've done it both ways and been successful at both.

 

[jody108]

What makes a client stick with you longer when you go door knocking? Why would that make a difference? Just curious ...

 

[Jacob59]

What makes a client stick with you longer when you go door knocking? Why would that make a difference? Just curious ...

I don't know exactly. What I do know is that when door knocking the folks that let you in the house trust you from the beginning. If they like you and you make the sale, there is a reason for it. Maybe many reasons. I still have the first customer I ever wrote on the books and that was many, many years ago. Over 90% are still with me from those days of door knocking.

That's not to say the other methods are not as good, It's just my opinion what i explained to you seems true.

 

[Frank Stastny]

I don't know exactly. What I do know is that when door knocking the folks that let you in the house trust you from the beginning. If they like you and you make the sale, there is a reason for it. Maybe many reasons. I still have the first customer I ever wrote on the books and that was many, many years ago. Over 90% are still with me from those days of door knocking.

That's not to say the other methods are not as good, It's just my opinion what i explained to you seems true.

I have sold Med Supps just about every way possible including knocking on doors. I haven't noticed a difference in persistency between those I sold by knocking on their door and those who I set an appointment with and went to their house.

The one thing I do know is that clients stay with me longer when I stay in touch with them on a regular basis. I send personalized birthday letters, not cards. I send them a several snail mail letters throughout the year.

I still have Med Supp clients who originally took policies with me in 1993 when I began selling insurance.

I feel the big difference is that I do not sell insurance, I sell me. My clients know me as a person not just an agent and know they can call me any time of the day or night and I will answer the phone. If I'm out, they know that if they leave a message their call is usually returned within twelve hours or less.

I think we are saying basically the same thing.

 

[burlewd]

jODY108

There is one place that you can go, it is a website you can register for you can use my name to register,(Dave Burlew)
uandiwin.com they have a great senior,life,health and other products in their portfolio but more inportaint is the support, training, ect. One thing to watch for in cold calling seniors is the DO NOT CALL LIST.

 

[VaDwayne]

Selling Med Supps is not rocket science. Done correctly it can be one of the easiest products to sell. Everyone 65 and over is on Medicare. Medicare does not pay all of their health expenses and the vast majority of seniors feel that they need some kind of insurance to supplement what Medicare does not pay.

The agent does not have to try to create the need for additional insurance beyond just Medicare. The need already exist in the seniors mind.

Knowing that, all one has to do is convince the prospect that you have a better deal and are a more concerned, service oriented agent than the next guy. In other words, you are selling yourself as much as you are selling insurance.

Seminars can work, I have done many at the request of seniors but I feel my time is better spent using other methods to prospect in the senior market.

Aligning yourself with other agents who do not offer Med Supps can be very successful but only after you have achieved a degree of success yourself. You are going to have to convince the other agent you are a professional and can be trusted with his clients.

"Leads", one of my favorite subjects. Direct mail "leads" are nothing more than a very expensive name, address and phone number. I have worked thousands of direct mail "leads" and not once has a senior said they remember filling out the card and sending it in.

Age groups to target. Seniors turning 65 are, in my experience, the most difficult to sell. They know a lot more than I do. It isn't until they are around 67 before they realize that the guy next door may not be an expert on Medicare and Medicare Supplement insurance. Target seniors between 67 and 78.

After spending one day, calling 50 people you think you need help. That's like the guy saying he has been married for one day and thinks married life is great.

Talk to me after spending 50 days calling 5,000 people and not selling anything. That is when you have a problem.

Right now, since you have only been an insurance agent for "one day", what you need to do is keep learning everything about Medicare and the options available to seniors. I mean literally become a Medicare expert. It will help your confidence level tremendously.

Be extremely well organized and keep accurate records of every phone call you make. And, most important of all, practice, practice, and practice some more. Your phone speil will not become smooth in just one day or after only 50 calls.

Your job right now is to make mistakes, learn from those mistakes and try to make fewer each day. Purchasing a list is the most cost effective way of having a lot of people to call to "practice" on.

Great advice!!! "When you know, AND you know you know, confidence replaces fear"

 

[halis]

You don't HAVE to do anything. You don't HAVE to cold call. In fact, if you hate cold calling, then stop doing it and find another way. If you enjoy it, then keep doing it.

The best advice I can give you, is however good your attitude is, improve it ten-fold and if that doesn't work, improve it ten-fold again. Eventually, having a tremendously better attitude will show results. Generally, if people sense that you are trying to help them, you will get sales.

 

[wrighj03]

Phone is not for everyone. Try cold calling face to face, introduce yourself and say something interesting,if it's life insurance "I have that $500,000 dollars I owe you?" Then ask questions do you have LI? Is it group or Private? whole or term? how many in your immediate family? when was the last time it was reviewed? Then smile and think your the best. Oh and set goals set 2, appts and a deal per day. Or if that doesn't work fail faster.