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If You Have 50 Exclusive In House Telemarketing Leads...
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This is for life insurance? I'm assuming they'll be dialing by hand? Either way, if you have 10 telemarketers I'd be surprised if you have more than 3 by the third day of this and even more surprised if more than 1 sticks around for week two. Please don't misunderstand this for being rude, but since you're looking for feedback here it is:
You're expecting way too much out of the telemarketers and not training them to be successful. All you should ever expect a telemarketer to do is find interested prospects and ask basic questions, if you're expecting them to ask health history questions and coverage amounts and they're setting an appointment for you to call them back then how many do you think they're really going to get? On a GOOD day I can have a telemarketer find me 5 people who are interested in discussing final expense coverage on a favorable basis that will be legitimately interested. That's if they are using a predictive dialer and making 300-500 calls to the senior market. Strip that down to the 30-62 market and you're going to have a problem with finding people at home and they are less concerned with the cost of their burial and less concerned about what would happen to them if they died because they're simply not aware of their own mortality at that point (generalization, yes, unrealistic, no). If they dialed all day by hand I'd be surprised if they could find more than 1 person per day that would answer the 7 questions your asking, so are you planning on paying them a $50/"lead" commission?
If you are serious about using telemarketing as a method of prospecting PLEASE take it seriously and invest some money in having a good telemarketer dial for you and actually take the time to train them. If you're not willing to put that much effort into it then you're probably wasting everyone's time and you'll be disappointed with your results.
- Thread starter
- #13
How about phrasing it this way...if you have 50 legit telemarketed FE leads to me you should be sitting with half of them and selling half of what you sit with.
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I'll look forward to hearing back the results. Because of the fact that the telemarketers are only getting paid based on having 7 out of 10 of those questions answered I'd bet you a pile of nickels they're going to make stuff up if they can only get them to answer 4 or 5 of them. I'm assuming your using stateside telemarketers?
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Emphasis on legit. My suspicion is that because the telemarketers will only be paid based on providing leads they'll push things through that might not be someone interested in discussing insurance with you on a favorable basis who will qualify. You're going to see that the results you'd get using DM are in some ways far different from telemarketing.
If you don't mind sharing, are they using a predictive dialer? What are the questions they're asking?
How many callers do you have?
What products are you trying to sell?
What type of a commission are you paying?
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I would contend that you're looking at the wrong numbers. If you did a 10,000 piece lead mailing, got 2 leads back and sold both of them then you'd have a 100% close rate, but odds are you'd have lost money on the deal. The numbers that really matter are how much did you spend and what did you get for what you invested. Working 50 exclusive telemarketed leads can easily yield you less than 2 customers and lead to wasting mountains of time if the folks generating the leads aren't qualified and trained to do the job correctly.
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No Fault,
I would like to give you the perspective of a new member with (zero) posts under his belt. Seems like a silly question considering there is a presumption that most of the folks on this board are "insurance agents".
I'll elaborate...I know that if I call 50 people, 5 will be interested and 2 will keep the appointment. Of the two appointments, i'll close both. Why, because I'm not leaving with ink in my pen.
In short, nobody can tell you how many of those leads you will close. You could very well stutter and fumble through all 50. In which case, hope they were cheap. Of course if you have telemarketers lined up already soliciting leads...hopefully, you have mastered the close and already spent some time on the phone.
If not, I suggest "smile and dial". Like an old golf pro used to tell me when I would show up to play and hit tons of balls on the practice range. "if you didn't bring it with you, you won't find it here"!
I would like to give you the perspective of a new member with (zero) posts under his belt. Seems like a silly question considering there is a presumption that most of the folks on this board are "insurance agents".
I'll elaborate...I know that if I call 50 people, 5 will be interested and 2 will keep the appointment. Of the two appointments, i'll close both. Why, because I'm not leaving with ink in my pen.
In short, nobody can tell you how many of those leads you will close. You could very well stutter and fumble through all 50. In which case, hope they were cheap. Of course if you have telemarketers lined up already soliciting leads...hopefully, you have mastered the close and already spent some time on the phone.
If not, I suggest "smile and dial". Like an old golf pro used to tell me when I would show up to play and hit tons of balls on the practice range. "if you didn't bring it with you, you won't find it here"!
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Rebel-without-a-clue
Expert
- 33
Not sure, but isn't this illegal? I thought you had to be licensed as an agent to receive pay in a commission structure? I know in Tennessee we can't even pay someone to hang door hangers for us, if we pay by a response, like $50 for each hanger that generates a response. We have to pay for every hanger, no matter what the response rate is. Am I wrong on this????
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Paying per lead is fine - paying per closed lead is not.
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