Indepedent vs. Captive prospecting?

[Survivor]

I was out doing some prospecting today. I was tired of cold calling, and it really was working less as Christmas approached.

So, I was out there doing some walk and talks on small businesses, trying to get straight to the owner. Basically,I would walk in, introduce myself, explain how I work with a lot of business owners, and start telling them about my flagship product and how it could help them. Well, I found that a lot of people wanted to talk to me. Problem is, most were trying to talk to me about products that I don't sell!

After today, I really feel myself being drawn to being independent. I know most (if not all) of you independent guys started out captive. Would you say that it is easier to prospect and find leads when you are independent? Or, do all of the marketing materials, brochures, and what not that are provided on the captive side make for easier prospecting?

 

[James]

I was out doing some prospecting today. I was tired of cold calling, and it really was working less as Christmas approached.

So, I was out there doing some walk and talks on small businesses, trying to get straight to the owner. Basically,I would walk in, introduce myself, explain how I work with a lot of business owners, and start telling them about my flagship product and how it could help them. Well, I found that a lot of people wanted to talk to me. Problem is, most were trying to talk to me about products that I don't sell!

After today, I really feel myself being drawn to being independent. I know most (if not all) of you independent guys started out captive. Would you say that it is easier to prospect and find leads when you are independent? Or, do all of the marketing materials, brochures, and what not that are provided on the captive side make for easier prospecting?

What were they wanting to talk about that you couldn't sell? I thought you were with AG?

 

[moonlightandmargaritas]

After today, I really feel myself being drawn to being independent. I know most (if not all) of you independent guys started out captive. Would you say that it is easier to prospect and find leads when you are independent? Or, do all of the marketing materials, brochures, and what not that are provided on the captive side make for easier prospecting?

Absolutely.

I started out captive (when we used rate books). There's a fundamental difference.

Captive is product pushing by it's nature. If you go into a Chevy dealer to buy a new car, what are you going to come out with? What if a Honda is more suited to you?

Independent is problem/solution based. Folks are becoming increasingly sophisticated, and the better quality prospects gravitate toward this model, because it offers CHOICE.

Final note: the marketing materials, brochures, etc. from captives actually HURT you, not help you. Their stuff is crap, and not effective. When you're indy, you can design your own!

 

[Crabcake Johnny]

When you're indie you get to promote yourself and what you offer:

"I work with all the major carriers in Maryland and can make sure you see the most competitive plans and rates. I can also help you out with any issue from billing to claims so you don't have to die waiting on hold calling an 800 number, etc..."

When you're captive you have to push what you're selling. That's very difficult to do nowadays with savvier clients who want to shop and compare.

When you're captive you have to always be in sales mode. All the independent agents on this site can take any client to their quoting page, show them the competiting carriers and say "well, here ya go." The clients gets to buy something instead of being sold.

I love being able to be indifferent. It's fun after 14 years of ramming stuff down people's throats.

"So Golden Rule's gonna rider "X" condition but they're $300, Aetna's gonna rate is 25% for $360 a month but cover it, Assurant's gonna rate it $25% and cover it for $420. Let me know which way you want to go Bob."

 

[Frank Stastny]

Absolutely.

I started out captive (when we used rate books). There's a fundamental difference.

Captive is product pushing by it's nature. If you go into a Chevy dealer to buy a new car, what are you going to come out with? What if a Honda is more suited to you?

Independent is problem/solution based. Folks are becoming increasingly sophisticated, and the better quality prospects gravitate toward this model, because it offers CHOICE.

Final note: the marketing materials, brochures, etc. from captives actually HURT you, not help you. Their stuff is crap, and not effective. When you're indy, you can design your own!

Right on the money! I also agree with your evaluation of marketing materials. I never used any of them when I was captive.

The biggest difference I noticed when I went independent was, I was a lot more relaxed on an appointment. I had options, I didn't have to try to convince the prospect that the one product I had was better than the other 20 that all the other companies were offering.

If the man wanted a blue suit I could turn on the blue lights, if he wanted a red suit I turned on the red lights.

 

[CHUMPS FROM OXFORD]

That's one of the reasons I enjoy going up against GR direct. One of the first things I tell the prospect is that the GR direct rep deals with only one company...will not help you with a claim...and might not be there in a few years.

 

[Crabcake Johnny]

The direct GR reps also will not tell clients they'll likely be declined or ridered. Their job is to simply take get the app. If it's a money situation they'll just go for Copay Saver without mentioning the major limitations.

They also don't know how the plans are different in other states and love to talk about the GR maternity benefit in MD.....except there isn't one.

 

[moonlightandmargaritas]

That's one of the reasons I enjoy going up against GR direct. One of the first things I tell the prospect is that the GR direct rep deals with only one company...will not help you with a claim...and might not be there in a few years.

Boy, some GREAT points, Ed.

I also stress (it's in my marketing materials) that I'm not "some kid in a cubicle that you talk to after 18 minutes on hold, who may, or may not be there next time you call..."

Also tell 'em that my biz lines are forwarded to my cell phone, and they can reach me PERSONALLY 24/7/365 (as long as they're not lookin' for sombody to bond 'em out at 3AM!).

While the off-hours calls are very infrequent...it makes 'em feel good.

 

[Survivor]

What were they wanting to talk about that you couldn't sell? I thought you were with AG?

I am. We do not sell a major medical, which is what most people want to talk about. We don't have a disability policy for an individual, only through a worksite account. Also, there is no LTC product. We can put riders on a life policy to try and do the same type thing, but frankly it's not the same thing.

 

[James]

I am. We do not sell a major medical, which is what most people want to talk about. We don't have a disability policy for an individual, only through a worksite account. Also, there is no LTC product. We can put riders on a life policy to try and do the same type thing, but frankly it's not the same thing.

Doesn't AG allow you to get appointed with major health carriers as in GR, BC etc? Or is it a no ask no tell situation, I do believe I know of one or two that does that with AG, well that is all I know of, may or may not be the thing to do, simply don't know with any direct knowledge.

Yet, I have heard this before, generally speaking it isn't the lack of product as others have hinted at or price. Servicing the client and being active is the key, whether you or captive or indepedent or have all the products or not. When you signed up with AG, I assumed you would of known you would be selling Life Products as in AG. I fear if you go indepedent you'll face many of the same problems you do now except with a twist or two.

On the other hand if you want to be independent, then be independent! Might be the best thing you can do?

As for LTCi, its a hard sale and I really don't see many making it on that product. The three great products, Life, Health and DI.