How Many Leads Do I Have to Buy to Make 1 Sale? DM Leads

[jdeasy]

Hi forum,

I am thinking of becoming a life insurance agent but I had a few questions. If I start buying Direct Mail Leads, how many should I be able to sell? Again, I have not started yet so numbers for a new person please. What would my ROI be? Also, is it better to door knock, Set Appointments or both?

Thank you for the help.

Most new FE agents that have a little bit of a clue average closing 15 to 20% of their leads.

So 1 or 2 sales from 10 leads.

 

[Iwillpay]

The holding hands is just the intro if you are training under Boman.

He will talk to you softly at first lol

 

[Rearden]

Hi forum,

I am thinking of becoming a life insurance agent but I had a few questions. If I start buying Direct Mail Leads, how many should I be able to sell? Again, I have not started yet so numbers for a new person please. What would my ROI be? Also, is it better to door knock, Set Appointments or both?

Thank you for the help.

I did a video here a few weeks ago discussing in detail the numbers behind final expense, including ROI, close ratios, chargebacks, etc.

I require all my potential new recruits to review and study it before having a conversation about the final expense business.

 

[sirherbie]

I think 1 thing that's huge you forgot to include is SERVICE WORK.Once you start doing 5-10 apps a week for a while the service work will start taking up to a day total a week. How does an agent handle nsf's in the first 1-3 months? Do you drop everything and have to run to another county to get it back on draft?

 

[JoshC]

I think 1 thing that's huge you forgot to include is SERVICE WORK.Once you start doing 5-10 apps a week for a while the service work will start taking up to a day total a week. How does an agent handle nsf's in the first 1-3 months? Do you drop everything and have to run to another county to get it back on draft?

I handle most of them over the phone, but I honestly don't get many.

 

[John Galt]

How bout this word?

Much better thanks lol

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I think 1 thing that's huge you forgot to include is SERVICE WORK.Once you start doing 5-10 apps a week for a while the service work will start taking up to a day total a week. How does an agent handle nsf's in the first 1-3 months? Do you drop everything and have to run to another county to get it back on draft?

Ive never had much service work, an occassional phone call and thats it, never interfered with production or sales. For nsf i make one phone call, aftet that i move on and concentrate on selling new cases.

 

[RookieYankee]

Hi forum,

I am thinking of becoming a life insurance agent but I had a few questions. If I start buying Direct Mail Leads, how many should I be able to sell? Again, I have not started yet so numbers for a new person please. What would my ROI be? Also, is it better to door knock, Set Appointments or both?

Thank you for the help.

It could be 1, 10 and it can be 20. There were a few times that I was shocked I made a sale. I mean I messed up I think very badly and I still got the sale. There are other times my pitch is perfect and I didn't make it for one reason or another. I would say order 20. Consistency and hard work ethic is the biggest factor.

 

[SPUR CITY]

I think 1 thing that's huge you forgot to include is SERVICE WORK.Once you start doing 5-10 apps a week for a while the service work will start taking up to a day total a week. How does an agent handle nsf's in the first 1-3 months? Do you drop everything and have to run to another county to get it back on draft?

I don't find that to be true. There are several days where I write 5 applications in one day. I tell all my guys that your day is not over until you get home and fax or scan the application to the carrier. I like to make sure the app is sent in the same day while the case is still fresh in your memory. New agents especially, will not complete the app until the next day which can spawn amendments more easily. Amendments and mistakes can cost an agent $$$. When I get home I say my hello's and I am straight to the fax machine to fax, log and file what I did for the day.


While my clients are completing the telephone interviews I am completing their applications. That way by the time I leave the house the application is completed in full and all I have to do is fax it when I get home.


As far as how I handle nonsufficient funds, I usually do that with a phone call. That rarely takes much time either. I've noticed from past experiences the agents that say it takes a whole day out of their schedule to do the simple things is a red flag. Because they usually are the type of personality that gets flustered about the simple things. And believe me, handling service work and NSF is the simple part of this business. If you can't do that right you are in trouble.


Don't complicate this business. You won't find another business with such little service work as the FE business. Go sit in a P and C shop for a day and tell me FE has a ton of service work LoL

 

[Rearden]

I think 1 thing that's huge you forgot to include is SERVICE WORK.Once you start doing 5-10 apps a week for a while the service work will start taking up to a day total a week. How does an agent handle nsf's in the first 1-3 months? Do you drop everything and have to run to another county to get it back on draft?

I work with my call-center group to handle an hour or two of following up on NSFs, etc., to see what the deal is.

I will make the call back if necessary.

Yes - when you are doing 15+ apps a week, be prepared to do between 4 and 8 hours of administrative work weekly to get everything processed.

Just hope to God you are a detail-oriented person.

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I don't find that to be true. There are several days where I write 5 applications in one day. I tell all my guys that your day is not over until you get home and fax or scan the application to the carrier. I like to make sure the app is sent in the same day while the case is still fresh in your memory. New agents especially, will not complete the app until the next day which can spawn amendments more easily. Amendments and mistakes can cost an agent $$$. When I get home I say my hello's and I am straight to the fax machine to fax, log and file what I did for the day.


While my clients are completing the telephone interviews I am completing their applications. That way by the time I leave the house the application is completed in full and all I have to do is fax it when I get home.


As far as how I handle nonsufficient funds, I usually do that with a phone call. That rarely takes much time either. I've noticed from past experiences the agents that say it takes a whole day out of their schedule to do the simple things is a red flag. Because they usually are the type of personality that gets flustered about the simple things. And believe me, handling service work and NSF is the simple part of this business. If you can't do that right you are in trouble.


Don't complicate this business. You won't find another business with such little service work as the FE business. Go sit in a P and C shop for a day and tell me FE has a ton of service work LoL

90% of the time, I table all my apps until the end of the week (Saturdays and Sundays) to completely scrub and fill in what was missed - process takes me 3-5 hours, generally-speaking.

 

[jdeasy]

I probably have more service work than the average agent partly because I've averaged over 300 application a year for many years and partly by design.

In addition to being on NSF's or any problem immediately I tell my clients to not call the company for anything. If they move, change banks, want to change beneficiaries, add coverage, reduce coverage or whatever to call me instead of the company. Most do just that. That alone creates quite a bit of service work but it also leads to many referrals.

Still, it doesn't take a day a week for week. Not even half a day a week.

As for the faxing in of apps I'm with Matt on that. I fax them in on the day I write them. When I get in I also do my hellos to the wife and dogs. Have dinner and then feed the horses. Then it's time to settle in and fax in apps. Also send my thank you cards. No app is complete until I can write "card sent" on the folder.