First day cold calling a FLOP

[Russ]

I have read the discussion between OHinsAGNT and moonlightandmargaritas with great interest. However, I am really surprised at the position Paul has taken. He is a well respected member of this forum and one who I thought was more open minded than this thread indicates. He may just be trying to "make his point". I think we all do that sometimes.

There is more than one way to work efficiently, yes I said efficiently as well as effectively, in this business. I'm sure Paul has the system he is most comfortable with and the one he believes that gives him the greatest degree of success. However, I think he has lost sight of the fact that each agent/person is unique unto himself. No two people follow the same exact path to success, nor is there just one path to follow.

I agree totally with OHinsAGNT. Cold calling is tremendously effcetive and has been the main thrust of my marketing emphasis for the last fifteen years. I have tried telemarked leads, internet leads, hiring a telemarketer, newspaper ads, direct mail, joining groups for lunch meetings, giving seminars, knocking on doors and stopping strangers on the street and saying "you don't want to buy any insurance do you"? Well maybe not the last one, but almost.

Each time I tried one of those methods to secure new clients I saw a healthy percent of my profits going out the window which meant that I had to sell at least twice as many purchased "leads" to make the same money that I would have if I had done my own marketing. That just didn't make sense to me. I'm greedy but I'm also good. I want to keep "all" my money.

I believe that OHinsAGNT pointed out that "they are no more effective than a well targeted list with a good cold caller". I think there in is the main difference in what OHinsAGNT is talking about, "well targeted" and "a good cold caller". Most agents I have worked with are not using a "well targeted list" nor are good at cold calling.

I'll go even further. I have targeted lists and I would not trade them for free internet leads.

In my experience of hiring and training agents a truely "good cold caller" is a very, very rare commodity. They almost don't exist today.

When cold calling is isn't about ROI it is all about numbers. How many calls, how many conversations and how many sales. My ROI, if I tried to compute it, would be "off the charts".

In my opinion the numbers really aren't worth keeping track of. I pick up the phone, make a few calls sell some insurance and put the money "in my pocket". That is all I need to know.

Cold calling, for me, is it is the easiest most effective, least time consuming, most profitable way of everything I have tried to secure new clients. But, I "give extremely good phone" and use only well targeted lists.

For those who don't there are always companies ready to take their money to help enable them to sell a policy. There is nothing wrong with that, I just think it is a waste of perfectly good money.

Cold-calling is all I do. I haven't knocked on a door, just knocking on doors, in 15-20 years. It's not that I can't sell that way...I have before, when I first started working for myself. I would just rather pick up the phone and call folks. I enjoy doing it, with a list of names that I'm sure aren't on the do-not-call list.

 

[blackhammockcat]

This business is all about activity - you can't let yourself down after a bad day. Just continue to have the activity that puts you in front of people and having conversations. If you have enough conversations - you will get results and make some friends along the way. I prefer to use life leads and then try to cross sell into other lines. I started in this business when my first child was 6 months old. That kept me making that one last call and extending the day as long as possible. Just keep at it!

 

[SportsNut]

A recent (this week) case study:

On Tuesday (12/2) I received a notification that someone had visited my website seeking information. I called, left her a message, and sent an email. I didn't bug her further by making incessant "follow-up" calls on a daily basis showing that I was anxious and desperate.

She called me back yesterday (Fri 12/5) afternoon.

We chatted about her situation. Turns out she had received a cold call about health insurance.

It raised her consciousness. Problem was, since the cold caller had no status or credibility with her...she felt like she wanted to do a little more investigation. No trust.

She went online and checked out ehealth.com. Too confusing. She dug a little deeper on the internet and found my site.

She was able to read about my background, philosophy, and read comments from some of my clients - all with NO PRESSURE. She filled out the brief form and submitted it. Turns out my recommendation was the exact same thing that the cold caller had recommended.

No stupid "closes" required. Her: "I'm ready to do this."

$1,316.37 first year commission. Finished submitting it about 9:30 this morning...

Then I think we can deduce from your experience that cold calling DOES WORK...

Especially when someone else is getting them warmed up for you.

Actually, what we can really say about this is, you should be glad that the cold caller didn't have a better command of things, or she never would have been looking at your site. But good for you that she was...
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I am really surprised at the position Paul has taken. He is a well respected member of this forum and one who I thought was more open minded than this thread indicates. He may just be trying to "make his point". I think we all do that sometimes.

Hmmmm. Is this the same Moon that has a red dot next to his name, indicating that he "has a little shameless behavior on the forum in his past"... You mean the moon that more than a few folks have recently accused him of resembling a certain body oriface...? Or are you referring to the moon that.... Oh wait, that is the same moon all right, that well respected member of the forum that is usally more open minded that he indicated in this thread... Pretty funny.

All I can addd is... Moon will be Moon, but that ain't all bad. And Moon sure loves it when those cold callers drive those prospects to him... TeeHee.

 

[Guest]

Too many people are buying into the "never cold call" mentality, which is good for those that can and will cold call.

It doesn't suck, it's just work. If agents made money before you could ever buy internet leads, agents can make money today with or without those leads and tools for that matter.

 

[Crabcake Johnny]

Cold calling not only works but is extremely effective. "never cold call" is promoted by weak people who don't have the nuts to cold call. Because the lack the intestinal fortitude they dismiss it as "ineffective." If not ineffective - it's just that they suck at it.

 

[realtyinnercircle]

Is not easy being an insurance agent. An agent job is a sales job. Usually people start out part time so that their income are not fully depend on it.

Besides, the insurance residual and commission are not that high. To have a decent income, you will need years of building it up.

Make sure that you offer something that people need (i.e. car, health, house, then sell the life along with it)

 

[Crabcake Johnny]

What?

 

[somarco]

Is this the same Moon that has a red dot next to his name, indicating that he "has a little shameless behavior on the forum in his past".

I have no shame.

How do I get a red dot?

 

[moonlightandmargaritas]

It doesn't suck, it's just work. If agents made money before you could ever buy internet leads, agents can make money today with or without those leads and tools for that matter.

Cold calling not only works but is extremely effective.

Man, you guys just slay me.

When 2008 ends here in a couple of weeks, I will have placed about 190 individual health cases (give or take 2 or 3 that may/may not issue in time). 20% of those are existing clients, so call it 150 new clients.

I haven't made a single cold call all year. Not one.

So here's the challenge:

Can you find a single agent that has gotten those results from cold calling?

 

[Crabcake Johnny]

....and there are others who do nothing but cold calling and do equally as well. Expenses? Near zero.