I sold my first plan!

[Chazm]

Thank you guys! Next hurdle; enough plans to pay for the telemarketers and the dialer.

That was the hurdle I could never get past.

 

[Bevo]

I know about chargebacks.

Strive to get to a point where you're doing so many deals that chargebacks don't bother you. That also means increasing your ability to get people to fully trust you so very few leave.

 

[justsayinisall]

That was the hurdle I could never get past.

It's actually lower cost than doing mailers...I think. The two telemarketers work Mon-Fri,11 hours on the 1 dialer (I had 3 but I had to fire one on her 6th day but the other two were happy to get a few more hours). That's 20 days during the month at $33/day=$660. The dialer is $109/month. $769 per month total.

This week, our starting week, they have produced 20 leads so far. We are all still learning and making up the process as we go along but I expect the leads will get better. For now, I have them throwing any tiny nibble at me.

I checked into doing a mail drop and that was pretty expensive per 1000. Especially expecting a 1.5%-2% return or am I missing something with DM?

 

[anomie]

That's awesome!

 

[sman]

I thought it was a little snarky but more or less harmless. But yep, charge backs are part of our business and if anyone tells you they don't have 1 they are lying to you.

....or they are Dave Duford.

I have ZERO charge backs on my Med Supp business. When you take it as-earned you don't get charge backs. The only time I get a charge back on MAPD business is if a client dies mid-year.

 

[anomie]

I have ZERO charge backs on my Med Supp business. When you take it as-earned you don't get charge backs. The only time I get a charge back on MAPD business is if a client dies mid-year.

Did you start out taking "as-earned" or move to that after a period of time in the Med Sup business?

 

[mickeyma]

I sold my first plan *happy dance*! It was a plan G to someone in NC (I'm in Florida).

I just had to tell someone. In this case, lots of someones's but I'm kind of proud of myself.

I think I'm actually doing this lol

WOO HOO ! I wish you many more sales.

 

[sman]

Did you start out taking "as-earned" or move to that after a period of time in the Med Sup business?

I think I may have started on advance, but quickly changed it to as-earned. To be fair, I already had income from individual & group health and investment trails so I didn't need the advance to pay my bills. If I was starting out from scratch I'd have to take as-earned.

With that said, if done right, you shouldn't have many lapses at all on Med Supps which means almost no charge backs. Because of that, a person could make an argument for always taking advances on Med Supps as long as the carrier doesn't charge interest for advances.

 

[T Sparks]

I Think it is wonderful to see the excitement of new sales!
Congratulations Sport!!!
I have written 1000+ Med Supp. clients over 32 Yrs.
To this day I still love to add new business, the main thing
is that I love to help people out and they respect that.
BTW IF Possible go as earned... Last chargeback probably
5 yrs ago. ALWAYS follow up and do your best and the referrals
will come.

 

[Chazm]

It's actually lower cost than doing mailers...I think. The two telemarketers work Mon-Fri,11 hours on the 1 dialer (I had 3 but I had to fire one on her 6th day but the other two were happy to get a few more hours). That's 20 days during the month at $33/day=$660. The dialer is $109/month. $769 per month total.

This week, our starting week, they have produced 20 leads so far. We are all still learning and making up the process as we go along but I expect the leads will get better. For now, I have them throwing any tiny nibble at me.

I checked into doing a mail drop and that was pretty expensive per 1000. Especially expecting a 1.5%-2% return or am I missing something with DM?

Lower cost doesn’t always lead to more profits. Especially in my case. I made some sales and probably got 20 leads a week too. But to be honest, it was more work for me and less sales. I just wasn’t good at gaining trust over the phone.

So I just went back to what I knew best. T65 F2F.

And I’m not saying you won’t, I’m sure you’ll be fine. Each person has their own niche

Edit: I get about 2.5-3.5% on my dm. 2k pieces cost me about $690