Monumental Leads

[jdeasy]

I agree, I have found the less specific the lead, the lower income folks responds to mailer. The AP sales average lowers on the E-64 also which effects the ROI.

I have used a very specific lead this year and the average sale is 40% higher in AP and the income of the prospect is higher. My ROI has been 500% or higher and the Early drop off or Non-taken policy has been almost non-existent.

It is not about sales ability, rather its about the quality of the prospect that makes the difference in the lead. The respondents are more qualified (not looking for freebees) and have higher incomes.

Everyone's experience is different, I suppose. But average AP is no different with the E64 than with a more specific lead.

Plus the low income people are the ones I want to see.

I do find the E64 to be a bit tougher to set appointments with and I've had to do far more doorknocking than I care to do but the results are the same if not a little better.

Wasn't that way from the start. I didn't like the E64 leads when I first started using them. I had to learn to use them.

 

[PA Bill]

I think the best mentality to have concerning leads is to assume they all suck and are just a place to go. It is what you do when you get there that counts.

 

[Newby]

That's a straight forward lead and anyone filling out knows an agent will call.Doesn't travis run a e-64 lead? Is there any agreement on is it better to get a 3% response with the e-64 lead or get a 1% response with a better lead like the trans lead?Will one sell more with quality over quanity?

Travis and I both experiment with a lot of leads. I'll speak for me and let Travis speak for himself.

I've run the E-64 that doesn't say life insurance on it and the version that says life insurance in the first sentence. I honestly can't tell a great deal of difference. The crazy people are going to respond to both. The word "life insurance" has no magic powers because poor people think life insurance is free from the government. I do like that havering the lead say life insurance seems more compliant. BUT the downside is that by running the E-64 without life insurance on it, you get more people that might think it's something else and just bought LH, AARP or something else that can be easily improved upon. I think that is the reason for the tremendous appeal of the E64 to more experienced agents.

Full size tri-folds are my favorite. I like to use a lot of words and the full size like the one in this thread work well for that.

Who you mail to has more effect than what the lead says. Mailing ages starting as close to 60 as possible gets you much better leads than 50-year olds. Some 50-year olds will buy. But you just have to ask yourself, If I could only mail to one age group which would it be? 50's, 60's, 70's, 80's?

We would all choose 60's, 70's, 50's 80's in that order.

I personally don't like zero income leads. They respond better than anyone else but are the biggest time wasters and least persistent. I don't like leads on 50 year olds IF they are broke 50-year olds. Those are the worst. People that are tight, tight income at 62 are often decent minded people that just retired way too broke. But they have a little sense of responsibility. People that are poor in their 40's and 50's have never had any sense of responsibility. They are looking for the free hand out and will respond to every leads card. You think you are protected because your card says "life insurance" three times on it? That's what they want! That FREE government life insurance they keep hearing about. Your card says pennies a day? Yep! That's exactly what they want. Here's a dime. Give me $100,000 worth.

The key is to try a few out until you get one that has good returns with the right people and you are making sales that stay on the books. What you will find is that they all work. It's all about you the agent. Getting in front of people. Fact finding. Presenting. Matching the right people with the right product. Not building your business on debit express people. Pretty soon you will find that any house you get in no matter how you got there you can size it up quickly. You will find opportunity where it exists. And cut bait where it doesn't.

Just get some leads. Get going. Once you get going, refine the type of customers you like to work with and refine your targets. JD and I are perfect examples. We work the same area. He loves the real poor ones. I don't. We both do fine. There is no one plan fits all.

 

[GoCubsGo]

I can see where saying "Life Insurance" on the lead would give you more qualified responses, the problem is it would be less responses. If the lead says life insurance, someone who just took out a Lincoln Heritage policy 6 months ago is going to think they have it taken care of and throw the lead out instead of returning it. Now if it's the E64 they might return it and then you have a shot at a replacement. When I call to set appointments I say it's about life insurance. Now if the guy with the Lincoln Heritage policy says he has it taken care of I say Great, who's the policy with. He says Lincoln Heritage, just got it a few months ago. I say oh yea, Lincoln Heritage spends a lot of money advertising in our area. But they don't shop around for the best deal for you they just sell you their policy. I shop around for around for people like you. Just last week I helped one of your neighbors who had a Lincoln Heritage policy find one to replace it that will give her kids $3,000 more for the same monthly premium she was paying Lincoln. Took about 10 minutes. She was happy to spend 10 minutes to get her kids three grand. Now I can't promise I can do the same for you but I'm going to be in your neighborhood and would be glad to stop by and take about 5 minutes to let you know. Will you be home around ______?

Yea it’s more work but more opportunity out of the same mailing. Doesn’t always work though. Some people will not change. Had a lady that I said that too and got the appointment. She had AARP term. Replaced it but she called and cancelled the next day. Daughter talked her out of it because she would “lose everything she paid”. Couldn’t get her off that or agree to let me meet with the daughter.

 

[Newby]

I can see where saying "Life Insurance" on the lead would give you more qualified responses, the problem is it would be less responses. If the lead says life insurance, someone who just took out a Lincoln Heritage policy 6 months ago is going to think they have it taken care of and throw the lead out instead of returning it. Now if it's the E64 they might return it and then you have a shot at a replacement. When I call to set appointments I say it's about life insurance. Now if the guy with the Lincoln Heritage policy says he has it taken care of I say Great, who's the policy with. He says Lincoln Heritage, just got it a few months ago. I say oh yea, Lincoln Heritage spends a lot of money advertising in our area. But they don't shop around for the best deal for you they just sell you their policy. I shop around for around for people like you. Just last week I helped one of your neighbors who had a Lincoln Heritage policy find one to replace it that will give her kids $3,000 more for the same monthly premium she was paying Lincoln. Took about 10 minutes. She was happy to spend 10 minutes to get her kids three grand. Now I can't promise I can do the same for you but I'm going to be in your neighborhood and would be glad to stop by and take about 5 minutes to let you know. Will you be home around ______? Yea it’s more work but more opportunity out of the same mailing. Doesn’t always work though. Some people will not change. Had a lady that I said that too and got the appointment. She had AARP term. Replaced it but she called and cancelled the next day. Daughter talked her out of it because she would “lose everything she paid”. Couldn’t get her off that or agree to let me meet with the daughter.

You are exactly right. The few that some leads screen out can be the hottest ones we want to get in front of. I would never go over that much detail on the phone call though. Just say the minimum to get in the door.

 

[GoCubsGo]

Less didn't work as well for me. I get less resistance now. If I went for the appointment I would get the no I'm happy thanks. But you can do better, no I'm happy thanks. ha. It's really not that much and I do it in a conversational tone.

 

[Newby]

Less didn't work as well for me. I get less resistance now. If I went for the appointment I would get the no I'm happy thanks. But you can do better, no I'm happy thanks. ha. It's really not that much and I do it in a conversational tone.

Can't argue with success.

 

[John Galt]

I agree, I have found the less specific the lead, the lower income folks responds to mailer. The AP sales average lowers on the E-64 also which effects the ROI.

I have used a very specific lead this year and the average sale is 40% higher in AP and the income of the prospect is higher. My ROI has been 500% or higher and the Early drop off or Non-taken policy has been almost non-existent.

It is not about sales ability, rather its about the quality of the prospect that makes the difference in the lead. The respondents are more qualified (not looking for freebees) and have higher incomes.

Pat, you nailed it my friend. Although I will add that I think some geographics come into play as well. Scott really cant see much difference in KY with either lead card, I on the other hand can tell a huge difference between the two. Its the same with phone leads, its not necessarily sales ability (that helps) and its not about the message (that helps too), but its more about who the message is directed to. If the message (dm card or telemarketer) is slanted to weed out deadbeats and you direct it to a good list you tend to have more ROI. Just my experience.

 

[term1]

Ok heres a question. pretty much every one says the e-64 draws 2.5-3% returns as people think its free from the govt. Most of these are mailed to 0-50k incomes. what if the e64 is mailed to 15-50k or 25-50k are the returns much much less or will you still draw 2% or so?

 

[Newby]

Ok heres a question. pretty much every one says the e-64 draws 2.5-3% returns as people think its free from the govt. Most of these are mailed to 0-50k incomes. what if the e64 is mailed to 15-50k or 25-50k are the returns much much less or will you still draw 2% or so?

That may be why I've liked the E64. I don't mail to less than $15,000 usually and $10,000 occasionally. I usually get 1.5-2% with it. I've never cared how many leads I get. I only care how many sales I get.

Focusing only on number of returns will always get you the lowest quality, and likely low persistancy but that's a gut feeling not scientific. Figure out who your BEST customers are and try to keep getting in front of them.

And where is this magic lead where people respond but no one thinks it's free from the government? Does that come with a free unicorn?