Health Lead Flow

[CHUMPS FROM OXFORD]

Kind of like...Those who can't do...teach. And those who can't teach...teach gym.

 

[myinsurebiz]

For $400 I can mail 1,242 pieces (postcards) to the list that I have carefully compiled, cultivated and nurtured over the last four years.

That would be the optimum situation, however most new agents don't have a "cultivated" list. Excellent ROI tho . . .

Tom

Problem is long term and volume. Residential comatose due to the DNC and if it's not comatose now it's dead come Sept.

With BtoB calls territory gets burned out too quickly. It also doesn't work. If it worked it would be the standard in the industry.

We really don't dial residential except for other industries wanting to blast a promotional message.

I agree on the B2B deal, but it's like rolling dice - your target is to get some of them to press 1. We only need .0025% to press one to get enough quotes to make one sale. Now - by pissing off the other 99.75% - who cares? If they press 2 to be removed - they won't ever be called again by us - if they don't - they'll probably get a call next week.

If anyone says that they can provide these transfers and suggest you'll quote 1 in 5, they are full of crap. Rick

I doubt anyone says 1 in 5. Our typical results over the last 2 months has been - out of 2,500 dials - 8 to 12 people Press 1 - the majority tell you to "F" off and a quote is given for approx 2 people. Out of 10k calls - about 8 quotes are prepared and one sale is made.

I'm seeing the above stats occur weekly.

Live Transfers aren't for everyone - but they do work in volume.

For those that don't want to take the calls personally, we have a system that will actually answer the transfers for you, Pre-Qualify the client and fax / email the lead to the agent.

Pre-Qualified Bulk Leads - ($99 Monthly Membership Required)

$250 for 10 leads - pulled in one run.

$500 for 25 leads - pulled in one or two runs - choice.

( For residential marketing - the bulk system will be used come 9/09 utilizing a predictive dialer and chicks with sexy voices . . . )

Tom

 

[GreenSky]

I doubt anyone says 1 in 5. Our typical results over the last 2 months has been - out of 2,500 dials - 8 to 12 people Press 1 - the majority tell you to "F" off and a quote is given for approx 2 people. Out of 10k calls - about 8 quotes are prepared and one sale is made.

I disagree with what you posted. BTW, 1 in 5 is the same as 2 in 8-12 will be given a quote. That's the number I find from personal experience to be wrong. I have been quoting 1 in 10 transfers.

I find that it takes about 300 minutes to generate one transfer but you basically say it takes half this long. (My experience shows 300 minutes are about 3,000 dials).

Let's use your (incorrect) figures. If it takes 2,500 dials to quote 2 people, the cost per quote at 3cents a minute is about $30. It takes 8 quotes for a sale so the cost per sale is $240. Not too bad unless you only make $400 per application. You can make more per hour flipping burgers.

My figures say it will take about 2X the amount of dials to make a sale for a cost of $480. And that's only to take an application, not have underwriting approve and have the policy paid for a year.

Maybe the correct figure is someplace in between so let's say it really costs $320 per sale. You really need a terrific average commission to be profitable.

But perhaps you're right and I'm wrong. After all, you have loads of credibility here and unlike me, you're trying to sell something to us. So I guess you must be correct.

Rick

 

[moonlightandmargaritas]

But perhaps you're right and I'm wrong. After all, you have loads of credibility here and unlike me, you're trying to sell something to us. So I guess you must be correct.

I guess this means you're not gonna hire him to open you a call center?

 

[GreenSky]

I guess this means you're not gonna hire him to open you a call center?

You really need to change your attitude. You're always so negative!

Didn't say you were wrong, just negative.

Rick

 

[moonlightandmargaritas]

Didn't say you were wrong, just negative.

Rick, with me it goes by a different name...reality.

 

[djs]

Rick -

Thanks for the math, but there is one part I didn't quite follow....

find that it takes about 300 minutes to generate one transfer but you basically say it takes half this long. (My experience shows 300 minutes are about 3,000 dials).

Let's use your (incorrect) figures. If it takes 2,500 dials to quote 2 people, the cost per quote at 3cents a minute is about $30. It takes 8 quotes for a sale so the cost per sale is $240. Not too bad unless you only make $400 per application. You can make more per hour flipping burgers.

If it takes 300 minutes to make 3000 dials and it takes 2500 dials to create 2 quotes... to make it easy, lets say 3000 dials to create 2 quotes.

300 minutes times 3 cents a minute = $9.
Or is it 3000 times 3 cents a minute which = $90?

$9 x 4 (the $9 generated 2 quotes, you need 8) = $36
or
$90 x 4 = $360 for the sale.

Now, I assume each dial is a minute, which would mean the $360 per sale cost.

Somebody will argue the 3 cents a minute. By the time you pay monthly fees, lead cost fees, etc, this probably is a decent rate.

No wonder I don't do these!!!

Dan

 

[myinsurebiz]

Rick - your math is way, way off . . .

We can generate 1 transfer in 250 calls or less. But remember - only 75% of all transfers will be worth anything . . .

The average campaign is 10k calls - spread out over 4 - 2 hour dialing periods. Each period results in approx - 10 to 12 live transfers and approx 2 decent quotes.

To get 8 quotes you need to dial 10k numbers. This will produce about 40 to 50 live transfers - which will produce 8 serious quotes.

I have various programs - but the best ROI scenario costs about $150 a week to generate those 8 HOT, UNIQUE and EXCLUSIVE quotes. This fee includes the monthly membership and airtime. Want more quotes - dial more numbers.

The average lead cost on a sale is less than $150 total. I make 32% on health - so, on a $250 monthly premium and 10 month advance - I make $800. So - spending $150 to make $800 is a no-brainer. Heck - even if it takes me $300 - still making dough . . .

Your math is way off - but based upon who it is typing - we understand . . .

I find that it takes about 300 minutes to generate one transfer but you basically say it takes half this long. (My experience shows 300 minutes are about 3,000 dials).

Let's use your (incorrect) figures. If it takes 2,500 dials to quote 2 people, the cost per quote at 3cents a minute is about $30. It takes 8 quotes for a sale so the cost per sale is $240. Not too bad unless you only make $400 per application. You can make more per hour flipping burgers.

My figures say it will take about 2X the amount of dials to make a sale for a cost of $480. And that's only to take an application, not have underwriting approve and have the policy paid for a year.

Maybe the correct figure is someplace in between so let's say it really costs $320 per sale. You really need a terrific average commission to be profitable.

Rick

Also - a client isn't charged by the minute. They either pay "per call" or "per campaign" - depends . . .

No wonder I don't do these!!!

Dan

You don't understand them is all . . .

Tom

 

[Crabcake Johnny]

Again, residential is dead and BtoB lists are limited. It is not a model for a lot of agents to use.

Take my state, MD and assume 20 agents all way BtoB transfers. Not do-able, by a long shot.

You cannot robo-dial these people week after week. Patterns emerge. Some pick up, others will never pick up.

Within a very short period of time the people who answer either want a quote or opt out. So over time as more and more opt out the calling list gets thinner and thinner.

For those who don't opt out and answer, heaven forbid it's the 5th time they've been robo-dialed. Now you have them absolutely laying into you.

Good be a system for a quick burst - write a few deals. It's not a sustainable system to generate leads, especially on any kind of mass scale.

And you have yet one more issue - agents using different dialing vendors. You might have a MD campaign going for 2 agents. However, if 10 more MD agents are all running campaigns through 5 different vendors it's an absolute cluster-f***

There are only 250,000 small biz records in MD. If you're transferring 1 call per 250 dials you have a maximum of 1,000 transfers - then it's baked. The more you run the campaign the worse the results get.

 

[moonlightandmargaritas]

I'm not sure I would even truly want a client that would respond to something like that.

You might sell stuff, but you won't make clients.