I am currently using a telemarketer in the evenings part time and even with a current ow close rate it generates more business and premium then paying out to the telemarketer. It is difficult to get you exact numbers because I am just starting out in the process but on average for cold calling out of a 100 people our close rate is about 4%. Now this takes in effect not getting a hold of the majority of them and then people being not interested. So from 100 we write 4 households which is about 2.5 polices a household or more on average. Cold calling is hard but its a numbers game and it can still generate good business. The trouble is it is not an overnight process takes a little time to see rewards.
Thank's L. From what I was reading 4% isn't too bad for cold calling. Keep the good work up. Do you do any other forms of marketing? Email newsletter, direct mailings, internet leads?
consistent use of mail has been worth it for me over the years-waste of time/money if not done consistently.
internet leads cost the most, take the most time and produce the worst results-still do them because we do write some folks we wouldn't have otherwise. if you're just starting out I'd try and figure out another way to get in front of people....
referrals are free and you'll get the most loyal clients this way. gotta earn them though. what do you do to earn the referral? do something for people that other companies don't....
telephone is tough these days with 80% of folks on dnc... still works though, call who you can. get permission from everyone you talk to check back with them in the future.
