Discussion in 'Indexed Universal Life Forum' started by NinjaNic, Dec 9, 2015.
I feel there are too many ins and outs to an IUL to really do it online.
Man, this got sidelined!
Yes, as Wino stated--I have generated leads...tens of thousands of them, for term and FE online. I am asking if anyone, other than SMM, is having success selling accumulation over the phone and online like I have had with Term and FE. Simply put, is it worth trying to generate an IUL lead with all the metric involved after lead generated (contact rate, sale rate, average target, commissions etc.). My guess is it will cost about $30 to generate an accum lead, but not sure on the next steps and don't know it the ROI is there.
Brett Kitchen from safemoneymillionaire.com is charging $100-$125 a lead for IUL.
Radio advertising is expensive...and, expect markup. I am not saying I plan on generating leads to sell, I am planning on creating a path that agents can use to generate their own.
I think lots of agents would be happy with the names and telephone numbers of people with an interest in achieving a tax free retirement.
I think leads for IUL would be great and there should be alot of interest in a true quality lead. Selling it over the phone, ?
IDK how Kitchens group does it, but they do claim to have a system that works. I'd say the avg agent could probably not sell it over the phone due to the complexity of the product.
This is the dilemma online term guys have. IUL/Par WL are still sold F2F and mainly to small business owners or those with estate tax planning.
Leads are best generated through the agents personal center of influence and are a costly lead to generate as in comparison to an internet lead as you are not selling based on price as you do for term.
IUL is best sold to someone as a cross sell from another source. My secret was that I built up a large payroll company to have access to business owners and cross sell them IUL and ParWL, mainly as supplemental retirement benefits.
That is how most successful producers sell Cash Value Plans, they generate their own lead through their own center of influence. There is no easy way other than figuring out how to get in front of people willing to spend $10k+ in annual premium. SMM has developed their system using radio and that is expensive and as they have found, and difficult to find good producers that can invest that much money.
LEGACY also does it by Radio and has a high cost. Our best method is actually working our TAX pro system as we open a TAX preparation firm and cross sell the customer base from that method.
Still, nothing new other than hard work and f2f selling.
ONLINE Term sales agencies never understand the reality of cash value life sales. You have a needs based sale that requires a needs based sales approach, which is not done online too often without the investment that SMM has done.
Online sales are OK for products that do not require a need based sale and Term, Health, P&C all are priced base sales and that is all you get. Loyal customers for the best price...... Till someone else comes along to beat your price.
A needs based sale (Cash Value Life) for any significant amount of annual premium, still is best sold F2F. The sales presentation still involves a reason why the person buys and that reason is a complex trust relationship that F2F sales produces with the concept the agent proposes.
A good online agent that develops a brand and has good cross sell opportunity into other products and can convert term products into IUL will do fine. That takes a big investment on client building and communication/drip marketing to the client.
Remember, 1 sale in a household... all you have is a customer.
......2 sales in a household is when you have a client.
......3 sales in a household is when you have a client for life.
If there was an easy way to generate leads for whole life, UL and VUL, they would be already doing it. IUL is similar. You can generate leads for online terms sales all day, No one is going to call you and say I have 3 million in my brokerage account and I am concerned about all the taxes I am paying. Is there a better way to shift at least some of my tax liability? Do you think this person will go to taxfreeiul.com or ask his CPA, estate attorney, golf partner or someone he knows who has been in the business several years.
Nic, speak with Brandon if you can. I think his agency is selling IUL/WL nearly exclusively from online marketing and closing (when it's not ONL) on the phone.
It would be extremely hard to replicate what Brandon has done. He generates leads via a website that has probably close to 1000 in-depth articles. He is not using PPC and advertising. He just shares his knowledge.
For Nic to invest that much time into writing articles would not be a profitable venture. If Brandon gets 6 leads for every 10 articles then he might make around $15k-$25k. If Nic gets 6 leads for every 10 articles he might be able to sell them for a total of $1,200 at best.
If Nic hires someone to write the articles he would likely have to spend at bare minimum $40k per year to hire someone with the same knowledge base as Brandon. (assuming 1-2 full length articles per week)
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