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Read this article. I think it will answer a lot of your questions on lead gen, IMOs etc.
https://www.linkedin.com/pulse/final-expense-agent-joshua-jones-
Free Final Expense Leads
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Read this article. I think it will answer a lot of your questions on lead gen, IMOs etc.
https://www.linkedin.com/pulse/final-expense-agent-joshua-jones-
Once again, thank you. This article explained this out clearly. SO if I understood it, your basically joining an IMO and they get you contracts with Carriers. So "ABC Insurance Group" is an IMO thats markets and gets leads and has contracts with the carriers (Assuming they are not captive.). Then sell the leads to there agents and pay there agents.
Are IMO's the only ones that can advertise and generate leads, or can an Agent, put up a landing page in the internet and generate leads, or buy them through a third party source. If you go to networking events you always see agents trying to get business through networking, so they can Self- Generate right
- 7,012
Under the independent model, you get your contracts through the IMO, but get paid directly by the carrier unless you sign an LOA which is assigning your commissions to the IMO, which is a big NO NO.
Parker and Associates did that to their agents and then screwed them all and took all their renewals and then duh duh duh changed their name to One Life America.
Yes, you could develop the leads on your own. Direct Mail is king for Final Expense field sales. It is usually cheaper and easier to get those leads at a set price through an IMO.
The key to this business is fresh leads on a weekly basis. Sure there's more than one way to skin a cat, but 90%+ of successful field agents buy leads and a majority of them use Direct Mail.
Facebook leads are good and I'm testing some out now as we speak. There's just the problem of data. With Direct Mail you can target everyone in our demographic. With other lead sources you are bound by the DNC or seniors on Facebook.
Parker and Associates did that to their agents and then screwed them all and took all their renewals and then duh duh duh changed their name to One Life America.
Yes, you could develop the leads on your own. Direct Mail is king for Final Expense field sales. It is usually cheaper and easier to get those leads at a set price through an IMO.
The key to this business is fresh leads on a weekly basis. Sure there's more than one way to skin a cat, but 90%+ of successful field agents buy leads and a majority of them use Direct Mail.
Facebook leads are good and I'm testing some out now as we speak. There's just the problem of data. With Direct Mail you can target everyone in our demographic. With other lead sources you are bound by the DNC or seniors on Facebook.
Ok, So basically getting leads through and IMO will save money, time and energy when you could be selling and getting making money. But as an agent you could develop on own lead lead generation source (and have your own fresh leads), so there can be pro's and con's to both.
I needed so much clarity on this because I spent 10 year as w2 sale rep for a sale company that sold Home Improvement products. There model was they were generating the lead, they had a marketing division, that set the appointment, you had no contact with the customer until you got to the house, had one shot at closing them, if you didn't, then they would give you a new lead.
Then I became a Real Estate Agent, which is totally different, you self generate lead entirely, and work under a broker that take part of your commission (which is state and maybe even federal law).
So I am familiar with the different sales models. I probably now have too much knowledge about this for my own good. LOL
I needed so much clarity on this because I spent 10 year as w2 sale rep for a sale company that sold Home Improvement products. There model was they were generating the lead, they had a marketing division, that set the appointment, you had no contact with the customer until you got to the house, had one shot at closing them, if you didn't, then they would give you a new lead.
Then I became a Real Estate Agent, which is totally different, you self generate lead entirely, and work under a broker that take part of your commission (which is state and maybe even federal law).
So I am familiar with the different sales models. I probably now have too much knowledge about this for my own good. LOL
- 7,012
I would recommend you find a good mentor (there are plenty on here, but skip those PMing you) and follow their system to a T. Again, no reason to recreate the wheel.
Last question I promise
So what is the difference between an IMO and a site like policygenius.com (or a site like that). Are they an IMO or are they just a marketing website that generates leads and sells them to agents. Are they licensed or just marketing company that generates and sells leads.
OK i am off to start getting this going, Thanks for the helpful advice.
So what is the difference between an IMO and a site like policygenius.com (or a site like that). Are they an IMO or are they just a marketing website that generates leads and sells them to agents. Are they licensed or just marketing company that generates and sells leads.
OK i am off to start getting this going, Thanks for the helpful advice.
- 7,012
I've never heard of them. Looking at their site, it looks like they are a "jack of all trades" agency..maybe. Or maybe just a lead gen site for all types of verticals, I dont know.
Either way, you never want to work with a group that does everything and is a master of nothing. Find a group that specializes in whatever you're trying to do and follow their system.
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Just got one in West Virginia! Comment below if you're licensed there to take it off my hands.
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