Med Supp Direct Mailers Today...

[5pill]

I have seen some good sample cards from a couple diff mail houses.
Whats goin' on with this today? Anybody want to share what their mailers are doing? Med supp mailers only.

Last I heard, there was a 4 to 7 % response...Is that right? How many are you converting if you get 20-30 cards back?

I strictly cold call, but would like to add a mailer here and there if they are working. What about it?

____________________________________________________
ETERNITY IS WAY TOO LONG TO BE WRONG.

 

[moonlightandmargaritas]

Last I heard, there was a 4 to 7 % response...Is that right?

Sounds like more of a pipe dream to me.

 

[brokerjojo]

in illinois the reality is 1%. 2% is the best case scenario.

 

[ksigmtsu]

I had someone pitch me on up to 5% return and I averaged a .5%. 10% of .5% of 1000 = 0.

10% of 2% of 1000 would be 2 sales, which I guess is livable, even when you consider it just cost you 500 dollars to generate 2 policies. Better cross sell or pray they stay on the books long enough to earn anything.

 

[Frank Stastny]

Last I heard, there was a 4 to 7 % response...Is that right?

See the medical Marijuana thread. The guy who told you that must have a prescription.

The only way one is going to get as high as a 7% return would be if everyone who returns the card will get a free microwave.

When I was captive I would get all of the "old", "stale" "leads" that agents didn't buy. I got them for free. I have run thousands of them. Calling them was no different than calling from a list.

I would conservatively say that well over 98% of the ones I called either didn't remember filling out the card or if they did they wouldn't admit to it. There is no way I would spend $400 to make two Med Supp sales.

Not that you are one of them, but most agents do not know how to maximize their marketing efforts and dollars when selling Med Supps. It is totally different than marketing any other kind of insurance.

Stay on the phone, don't piss away thousands of dollars thinking that you will increase your "bottom line" by buying "leads". The only thing that will happen to your "bottom" is that you will lose it. Your production may, but I doubt it, increase a little but your ROI will go in the toilet.

What you are doing is the easiest, simplest, most cost effective way to increase your Med Supp production.

 

[Tom Highway]

Hey Mr Frank, have you heard anything new about these new med supp plans yet?

At one time you said that the consensus was that the price would be significantly lower than plan D, for example. If that is the case, do you think commissions on these new plans will be adjusted so the agent would make about the same on the new plans?

 

[Frank Stastny]

Hey Mr Frank, have you heard anything new about these new med supp plans yet?

At one time you said that the consensus was that the price would be significantly lower than plan D, for example. If that is the case, do you think commissions on these new plans will be adjusted so the agent would make about the same on the new plans?

There are tons of rumors floating around right now. Companies are being very closed mouth about everything pertaining to the new Plans M & N.

The best information I have as of now is that M & N will be anywhere from 60% to 80% lower than what companies are charging for Plan F. Plan M will be the more expensive of the two so I would assume it will be in the 80% range. That would make Plan N in the 60% range.

There has been no talk from the companies about decreasing commissions but no one has said anything about increasing them either.

 

[Chazm]

In Oct. this past year I received ~5.5% and from our last mailer in Jan. we got around 3.5%. Other people in our office have done mailers too from different companies and got around 4-5%. I think with the summer coming up though our numbers might dip below 3%

 

[on7of9]

In Oct. this past year I received ~5.5% and from our last mailer in Jan. we got around 3.5%. Other people in our office have done mailers too from different companies and got around 4-5%. I think with the summer coming up though our numbers might dip below 3%

that has to be outstanding, from what i've read. were the mailers for med supps? and if so, med supps only or other offers?

 

[on7of9]

I do a good amount of mailing and on supplements I look for around 2%. You can do better I had one area get close to 5% a few weeks ago. What matters most is how many other people are mailing an area. My guess is no one is mailing in the 5% areas and we will keep mailing it and make good money there for some time.

Jim Sowder
Family 1st Insurance Brokerage
304-640-8914
fax: 206-337-3753
[EMAIL="[email protected]"][email protected][/EMAIL]

well, i guess nothing is forever. 5% one time .05% the next. i believe you posted once that you do your DM inhouse, is that correct?