Med Supp Marketing System (MSMS)

[SRQ Willie]

Damn...it's been 5 full days. Frank's head must be too big to hold up and type at the same time.
Seriously, he is one of the good guys for sure. I have yet to jump on board....yet. It is about time though.

 

[Frank Stastny]

Hi Frank,

I have another question about your CRM system. You mention a "total rewrite" in the Spring. If I buy it now, will I be able to "upgrade" when the new software comes out? And how much will that cost?

Thank you in advance!

Yes, you will be able to upgrade. I'm about to release v5.0 and upgrading from v4.0 will simply be a click of a button. I expect the next upgrade to do that as well.
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Mr Stastny

I had some questions about your lead management system. However, since I am very new to this forum I could not send you a PM. I was curious about the ability to send and retrieve leads from agents. I can be contacted by email at [email protected]. Look forward to hearing from you.

The short answer is maybe, depending on how you are going to use YIO. It will be a whole lot easier to talk about it than sit here and type. Look down, you will see my number.
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People please. If you all continue this Frank will surely stop taking our calls and raise YIO prices. How about some dirt, like his goats are ugly and smell bad.

Thanks Frank!

I don't know about ugly, but they definitely are not the sweetest smelling critters. Although, after spending the day cleaning out the barn, worming and hoof trimming neither am I.

 

[VaDwayne]

This is a follow up to the Free Training thread I started a couple of months ago.

I've received a lot of calls and PM's from agents asking what the training consists of so here is a quick overview.

I have put together a Med Supp Marketing System (MSMS), of about forty pages that covers all aspects of Medicare, Medicare Supplement, how to present it, deal with objections and sell it.

Unlike some other training information that may be available, the MSMS represents sixteen years of trial and error, intensive study/research and constant updating to keep abreast of the ever changing market. Each agent who requests training receives a copy.

Training starts with a 2+ hour phone call between the agent and me. During that time we discuss any questions the agent has regarding the documents they have received or about the senior market. The information in the MSMS is pretty straight forward and at that time generally does not require a substantial amount of time to discuss. I prefer to spend the bulk of the time training the agent how to use the phone and set appointments.

I ask the agent, at the conclusion of that call, to reread the MSMS and this time to not only read it but digest it and write down specific questions they have. After they have gone through the entire document I suggest that they call me a second time so I can address and go into greater detail regarding the questions they have. The time spent during that call is determined by how many questions the agent has.

From that point forward I tell the agent he/she can call me anytime they encounter a question or situation that they either don't know the answer to or the best way to handle.

Not using the phone and trying to do all of this by e-mail would not produce satisfactory results for the agent. It is in the agent's best interest that we actually discuss the process.

E-mail does not replace a "real" conversation.

Once again, this is free for any agent who is using "Your Insurance Office" (YIO).

Franks system works. Don't let anybody tell you that cold calling doesn't work. I have studied Frank's calling techniques, and have listened to him, and used what he has told me;it has helped me tremendously. This week I briefly tried another script and was hung up on 10 times as often.I consider Frank to be a blessing.

I hope this will give you inspiration to keep plugging along. I used Frank's script for 35 hours of cold calling this week and started off slow but after my appointment tomorrow, I should finish with 5 Med supp.apps, 2 Final Expense apps., and 1 PDP this week.If they are all approved, it will mean I made almost $2000 this week cold calling.

I also hope you know that I am telling you this to lift your spirits and to let you know that with hard work you can make a living starting out in this business. I know that some people scoff at the fact that I have been in the insurance business since March and try to say that I know what works and what doesn't work, but I have been in sales for 25 years and I have seen ideas come and go, and Frank's idea of cold calling, and his knowledge of the Medicare Supplement market will build your condfidence. This combined with your HARD WORK, will make you money. As a matter of fact, knowing what I now know about cold calling, I could have used this method to sell a lot more vehicles in my 20+ years.

KEEP PLUGGING ALONG

 

[Tom Highway]

I hope this will give you inspiration to keep plugging along. I used Frank's script for 35 hours of cold calling this week and started off slow but after my appointment tomorrow, I should finish with 5 Med supp.apps, 2 Final Expense apps., and 1 PDP this week.If they are all approved, it will mean I made almost $2000 this week cold calling.

Dwayne, am I reading this right in that you cold called for 35 hours, went on several appointments (the easy way would be to say at least 8 appts, but some could be multiple sales), and sold 8 total policies?

If this is the case, one thing needs to be pointed out - your work ethic. You can't just be sitting around watching Judge Judy and produce these results.

So, how many hours do you think you actually spent working this week? (I'll tip my hand a little in saying that I think it's going to be pretty high, and a lot of people may not be willing to put in those kind of hours to succeed)

 

[Frank Stastny]

If this is the case, one thing needs to be pointed out - your work ethic. You can't just be sitting around watching Judge Judy and produce these results.

So, how many hours do you think you actually spent working this week? (I'll tip my hand a little in saying that I think it's going to be pretty high, and a lot of people may not be willing to put in those kind of hours to succeed)

You have "hit the nail on the head", hard. The one thing you didn't point out is that he made $2,000 this week and his ROI was nearly 100%.

Can the same results, $2,000 a week, be achieved by hiring people to prospect for you or spending hundreds of dollars on "leads"? Maybe, but how much of that $2,000 dollars will the agent be able to keep for himself? Dwayne is going to get to keep almost all of it.

The amount of money an agents earns has never impressed me unless I also know how much they have spent to generate that income. Making $200,000 per year sounds impressive, but if the agent is spending $80,000 each year to do it isn't he really only making $120,000?

If Dwayne can do that every week, there is no logical reason why he can't with his work ethic, he will gross approximately $100,000 in commission income over a twelve month period. At the very least 75% of that, $75,000, can be expected to carry on to the next year, actually for the next several years, in renewals. After three of four years of doing that he can be making a fairly decent income without having to prospect that aggressively.

He will only get better and better at prospecting and selling insurance. Remember he has only been an agent for, I believe, five months. How many "five month" agents are having that kind of success?

The time he is spending now is also resulting in him filling his Prospects Database with real leads. People who he didn't sell insurance to "today" but will sell insurance to in the next 24 months. He will also start doing a good amount of referral business.

The number one reason agents are not successful in this business is that are constantly looking for an "easy way sell insurance" and are not willing to accept the fact that it is a full-time job. All they want to do is go on appointments and apparently are willing to pay thousands of dollars each year trying to do that.

Selling insurance is work and shame on anyone who tells agents that it isn't. There is a relatively new thread on the board now where some spammer is telling agents they can make up to $3,000 per week if they sign up now.

That's like having someone say to you, "I'm from the Federal Government and I'm here to help you". If you believe the first statement you will definitely believe the second statement.

 

[VaDwayne]

Dwayne, am I reading this right in that you cold called for 35 hours, went on several appointments (the easy way would be to say at least 8 appts, but some could be multiple sales), and sold 8 total policies?

If this is the case, one thing needs to be pointed out - your work ethic. You can't just be sitting around watching Judge Judy and produce these results.

So, how many hours do you think you actually spent working this week? (I'll tip my hand a little in saying that I think it's going to be pretty high, and a lot of people may not be willing to put in those kind of hours to succeed)

I would say that if you took the amount of time on the phone, the amount of time on the appointments, the paperwork, and time on this forum playing around, about 65 or so hours, I don't really know.

I also found out that if you take a 1 1/2 weeks not selling so you can study for your P&C exam, it is hard work getting back into the flow of things and I had just metioned to Todd King that I hadn't made any money this month because I hadn't worked hard at selling but then things that I had been working on began to happen.

Here's some of what took place this week and it proved to me that most appts. you get result in 2 sales.

Appt 1: A 72 year old lady that I had an appointment with at 7 p.m. When I got there her neighbor was there waiting on me too.
Appt 2: An appointment with a dairy farmer and his wife. I had to be there at 10:30 a.m. because he would finish milking at that time. I switched their supplements and sold each a final expense policy and still saved them almost 200.00 per month. I then spent a couple of hours on his farm looking at Emu's, throwing a tennis ball to his Border Collie, which he had 5, talking about his 150 acres and his dairy operation, etc. When I called to do their phone interview for the final expense, I couldn't get good cell service so I went outside;as I was talking with the interviewer the freaking rooster started crowing, and it wouldn't quit, and I have never heard sombody laugh so hard in my life.
Appt 3: A lady that needed a supplement because she is losing her medical coverage. I got a supplement and a PDP, plus she told me that her employer is dropping his health insurance and there are 7 in the office in the senior citizen age group. She is the office manager and is going to set up a group meeting for me to talk to the other 6. They all asked for her to get my business card for them. The Original lady that I had the appointment with was a referral from a family that I had sold 2 supplements to a couple of weeks ago (and they were a cold call).

If you get someone to actually give you their time, you will more than likely sell 2 policies.

With Frank's script, the deal is closed before you go there, and I can still say that I have sold 100% of the people that I have gone to see about a Med. Supp.

 

[SRQ Willie]

Dwayne - I value your work ethic and congratulate you on your success....BUT. If you can keep up a 35 hour per week pace of cold calling AND doing all of the above.....I NEED to know the secret. GOD BLESS you and give me some of that mojo. I am sorry, but I would rather pay my gal her $25 per appointment that she sets for me. ( yes I trained her, have a set of questions she MUST ask etc. etc.) She gets me 2 to 3 appointments per day...ALL I NEED DUE TO REFERALS.
This $250 to $300 per week to her keeps me SANE !!!!

Plus, and anyone please correct me. I have been speaking with Frank about his system and it appears to have glowing reviews from others. I just need to find the time to dedicate to learning it since I am a computer nitwit.

FRANK - just out of curiosity, how long does your system take to become pretty comfortable with?

 

[VaDwayne]

Dwayne - I value your work ethic and congratulate you on your success....BUT. If you can keep up a 35 hour per week pace of cold calling AND doing all of the above.....I NEED to know the secret. GOD BLESS you and give me some of that mojo. I am sorry, but I would rather pay my gal her $25 per appointment that she sets for me. ( yes I trained her, have a set of questions she MUST ask etc. etc.) She gets me 2 to 3 appointments per day...ALL I NEED DUE TO REFERALS.
This $250 to $300 per week to her keeps me SANE !!!!

Plus, and anyone please correct me. I have been speaking with Frank about his system and it appears to have glowing reviews from others. I just need to find the time to dedicate to learning it since I am a computer nitwit.

FRANK - just out of curiosity, how long does your system take to become pretty comfortable with?

I'm commmited to working these hours for the next few weeks, and tracking the results, to find out if this week was just a fluke or it actually works for me. It's not really as bad as it sounds.

I am curious to know how many sales you have per day out of the 2-3 appointments you get? The main thing with doing it the way Frank does is that you don't leave the house until you know the deal is done or at least 90% done.

A lot of what I do is because of my 20 years in the car business where I found out long ago that if I needed something done,and done right, or at least the way you want it done, you'd better do it yourself.

 

[Frank Stastny]

FRANK - just out of curiosity, how long does your system take to become pretty comfortable with?

If you are talking about YIO, there is virtually no learning curve. Anyone who can use a mouse and keyboard can load it and begin working immediately. It is very intuitive (point and click). It also comes with unlimited, toll-free phone support. I provide the support and I do speak English.

If you are referring to MSMS that depends on how determined and dedicated you are. MSMS is a lot more than simply a telephone presentation, script. What I do and the way I do it not only applies to using the telephone, it is a total selling package.

If an agent doesn't want to call from a list, the same technique will work if he/she is calling "leads". It can also easily be adapted to use to train a telemarketer.

I have never, that I recall, spent 35 hours on the phone in one week. I would call 35 hours on the phone a tough week. At the same time, I long ago saw the value in only setting appointments with qualified buyers. Don't forget, Dwayne is also getting the name of their current company from most of the people he talks to. Those are almost going to guaranteed sales in the near future.

You said you couldn't do the calling. Well, I got tired of driving all over the state of Missouri, spending the money on gas and my time and not making sales because the prospect didn't qualify or I couldn't save them money. Setting an appointment to me is also marking it SOLD. Three appointments a day, every day would wear me slick. (Been there done that.) Unless, I was writing three apps a day.

I don't think Dwayne will mind me sharing this. He went on an appointment, could save the prospect around $30 per month but didn't get the sale. He called me that evening and asked me what he could have done differently. I made some suggestions and he went back the next day and wrote the app. If he hadn't called he would have lost the sale.

His commission from that one sale more than paid for YIO and the training.

 

[medicarebenefitsdirect]

Dwayne - I value your work ethic and congratulate you on your success....BUT. If you can keep up a 35 hour per week pace of cold calling AND doing all of the above.....I NEED to know the secret. GOD BLESS you and give me some of that mojo. I am sorry, but I would rather pay my gal her $25 per appointment that she sets for me. ( yes I trained her, have a set of questions she MUST ask etc. etc.) She gets me 2 to 3 appointments per day...ALL I NEED DUE TO REFERALS.
This $250 to $300 per week to her keeps me SANE !!!!

Plus, and anyone please correct me. I have been speaking with Frank about his system and it appears to have glowing reviews from others. I just need to find the time to dedicate to learning it since I am a computer nitwit.

FRANK - just out of curiosity, how long does your system take to become pretty comfortable with?

The system is pretty simple. You can learn the basics in 15 to 20 minutes. There are some other things you will have to study to take full advantage of the system. But to just add prospects to your datebase is very easy.