Let's Talk Cold Calling

[lynno]

With a book of business given to you and knocking on doors it sounds like you are working for a debit company selling life and fire insurance. Is that what you are doing?

Yes, I am a captive agent who sells life, health, and fire insurance.

 

[Frank Stastny]

Yes, I am a captive agent who sells life, health, and fire insurance.

You are probably getting a little over 50% commission on your life business and around the 4th of the month is when you have to make your collections. When you make your collections you are probably suppose to sell them more life or fire insurance. I'm guessing.

I have worked with a couple of agents in the past who use to work for a debit company. A really tough way to make a lot of money in this business. One of them said he did okay by selling referrals to an HMO. He said he got a couple of hundred dollars for the referral.

He also said a gang of kids figured out when he made his collections and beat the crap out of him one evening and took his money. That is why he got out of it.

It is a totally different kind of cold calling than what most of the agents who are here do.

Health insurance most probably isn't a big money maker for you. Life is likely where most of your money is. A grandmother who will take small policies (burial insurance) on all of her grandchildren and or children.

From what little I know about it, I feel certain that the phone wouldn't be a good vehicle for you even if you did like to cold call that way. Your best bet is probably to park at the end of the block, walk up to each house and knock on every door.

When you knock tell them you are the "insurance man". That, I have been told, will usually get them to open the door. They are probably going to think that you are there to collect the premium. In the course of a year some of them may have had as many as three new agents coming to collect.

I think your best bet is to tell them you are the new agent in the area, stopped by to introduce yourself and offer to do a free evaluation of their policies to make sure they aren't paying too much for their insurance.

I'm sure the guys you work for have been doing this for a long time and they are going to be your best source for what to do when you knock on the door.

 

[J.R.]

You are probably getting a little over 50% commission on your life business and around the 4th of the month is when you have to make your collections. When you make your collections you are probably suppose to sell them more life or fire insurance. I'm guessing.

I have worked with a couple of agents in the past who use to work for a debit company. A really tough way to make a lot of money in this business. One of them said he did okay by selling referrals to an HMO. He said he got a couple of hundred dollars for the referral.

He also said a gang of kids figured out when he made his collections and beat the crap out of him one evening and took his money. That is why he got out of it.

It is a totally different kind of cold calling than what most of the agents who are here do.

Health insurance most probably isn't a big money maker for you. Life is likely where most of your money is. A grandmother who will take small policies (burial insurance) on all of her grandchildren and or children.

From what little I know about it, I feel certain that the phone wouldn't be a good vehicle for you even if you did like to cold call that way. Your best bet is probably to park at the end of the block, walk up to each house and knock on every door.

When you knock tell them you are the "insurance man". That, I have been told, will usually get them to open the door. They are probably going to think that you are there to collect the premium. In the course of a year some of them may have had as many as three new agents coming to collect.

I think your best bet is to tell them you are the new agent in the area, stopped by to introduce yourself and offer to do a free evaluation of their policies to make sure they aren't paying too much for their insurance.

I'm sure the guys you work for have been doing this for a long time and they are going to be your best source for what to do when you knock on the door.

Hmmmm, talk about some motivation to get off you 6 and make some calls.

 

[Frank Stastny]

Hmmmm, talk about some motivation to get off you 6 and make some calls.

I'm just guessing this is what he is doing from talking to other agents I have known who worked for a debit company.

We really need a lot more information from him to offer the help he is requesting.

If he really likes selling life insurance my suggestion would be that he begin looking at other companies or go independent. The transition will be tough though. It will be a totally different kind of selling for him. It will be like starting from scratch if in fact that is what he is currently doing.

You have to admire him though, I couldn't do that.

 

[J.R.]

I'm just guessing this is what he is doing from talking to other agents I have known who worked for a debit company.

We really need a lot more information from him to offer the help he is requesting.

If he really likes selling life insurance my suggestion would be that he begin looking at other companies or go independent. The transition will be tough though. It will be a totally different kind of selling for him. It will be like starting from scratch if in fact that is what he is currently doing.

You have to admire him though, I couldn't do that.

I've been to trailer parks and have no problem with those places. I have been to lower income areas and have no problem with that. What I do have a problem with is when somebody tries to clean my windows with a newspaper. I demand the best and require Windex mixed with Evian and it better be wiped off with a silk cloth!


Hell, if he can do that day in and day out. Traditional cold calling and going to B2B will be a breeze.

 

[NHB_MMA]

Sounds like a tough gig, but I've considered doing the same thing. The only thing going for me is I have good company name behind me, but they're certainly not the cheapest in all situations and I think the lower income places would be the most receptive. They don't get visitors to talk to them, unless you count burgulars.

 

[Frank Stastny]

Sounds like a tough gig...

One of the guys I talked to who use to do that said he always carried a pistol when him. He said a lot of times before he left the house the prospect would tell him to wait inside while he checked the street to see if it looked okay for him to leave.

Got to have a bigger pair than I do to sell insurance that way.

 

[senior-advisor-indiana]

I was hoping I didnt hear that story here before. Sorry for stealing it.

 

[Newby]

I have been in the business for a year now. I love what I do and I love the people I work with and for. I am a captive agent with a book of clients given to me through the company. The book has worked well for me and I have built a good relationship with the majority of my clients. But now it is time to hit the streets and go door to door.

Going to someone's door and trying to get them to talk to me isn't something that is generally easy in today's world. Any suggestions are quite welcomed.

Looking for tips, suggestions and stories from other agents. Things they have encountered while knocking on doors, and the do's and don'ts of doing it.

I have done some of it and had real good results. I'm actually surprised at myself that I haven't done it more often. I have also trained agents in other cities and found that some (Indianapolis, IN for example) you are not greeted as warmly very often. Others (Seymour, Indiana and Clarksville, Tennessee come to mind) everyone invites you right in and will talk your ear off. In Eastern Kentucky you will probably get shot (they think you are from the Government.)

My advice is to try it. Main thing is to have something to say when they open the door. Have a reason for being there (new life-insurance product, survey about Health Plans etc.)

Summertime is the worst time because kids are out of school and all the Grandparents are babysitting and half the houses kids are home alone.

I would never try it in real poor areas or high-crime areas. I have never sold a product that poor people could afford. I have always selected middle-class neighborhoods with well-kept homes. I have even works with very affluent neighborhoods and had good success (in my area I'm talking about regular millionaires as being affluent not the ubber-rich) We don't have billionaires in my town.

I also suggest having door-hangers made. You will get the occasional reply and the concerned neighbors can snoop around and see what you are doing and put their mind at ease.

Neighborhood canvasing is a very good way to meet a lot of new people face to face and most are very friendly. Especially if you take some nice pens or calanders or something to give away.

 

[Frank Stastny]

I have done some of it and had real good results. I'm actually surprised at myself that I haven't done it more often. I have also trained agents in other cities and found that some (Indianapolis, IN for example) you are not greeted as warmly very often. Others (Seymour, Indiana and Clarksville, Tennessee come to mind) everyone invites you right in and will talk your ear off. In Eastern Kentucky you will probably get shot (they think you are from the Government.)

My advice is to try it. Main thing is to have something to say when they open the door. Have a reason for being there (new life-insurance product, survey about Health Plans etc.)

Summertime is the worst time because kids are out of school and all the Grandparents are babysitting and half the houses kids are home alone.

I would never try it in real poor areas or high-crime areas. I have never sold a product that poor people could afford. I have always selected middle-class neighborhoods with well-kept homes. I have even works with very affluent neighborhoods and had good success (in my area I'm talking about regular millionaires as being affluent not the ubber-rich) We don't have billionaires in my town.

I also suggest having door-hangers made. You will get the occasional reply and the concerned neighbors can snoop around and see what you are doing and put their mind at ease.

Neighborhood canvasing is a very good way to meet a lot of new people face to face and most are very friendly. Especially if you take some nice pens or calanders or something to give away.

It sounds like you were selling a different kind of insurance than he is. Did you really sell burial policies and fire insurance in the "middle-class neighborhoods" and in "very affluent neighborhoods" with "regular millionaires"? When did you do your collections?

What do you consider a "regular millionaire"? In my area it is usually only people with just over a million to those who have up to 2 to 2.5 million.