New Marketing Plan

[newrep17]

So I'm starting with a new company Mutual of Omaha.

Apparently they have free cold leads.

I guess I have to pay for current client leads.

They have postcards and business reply mail available for free.

For those all I have to do is pay postage.

So my plan initially is to...

Send out Postcards or Business Reply Mail
5000 a month, which is around $1200 postage with the free cold lead lists.

Buy a Cheetah, use the free cold lead lists through the company and the free phone line.

Work on a highly interactive, highly functional website, with videos and solid info.

Is this a good low cost gameplan? Is there anything I'm missing. I realize networking is important but those are the other ideas I had to generate business. I will have my Life, Health, Series 7 and 66. Thank you in advance.

 

[briko3]

Sounds like you're getting a crappy deal from them. Doesn't seem like much support or any good orphan leads.

What's your comission look like?

 

[jerry176]

Just my thought. You are going to send 5000 pieces of mail to current customers, that are probably already being bombarded with mail solicitations from the very same company you work for.
I would think about spending your 1200 dollars, in other areas first. Infact if you are new to insurance, call the free orphans, and go knock on business doors and develop your own leads. It will cost you gas money & time.

 

[ksigmtsu]

Spend 150 dollars and get mojo and buy yourself a list of 1000 64-79 year olds for 100 bucks and sit down and call them. You'll be in a lot better shape than you would have been with the mailers.

Find local publications, with limited circulation, like real estate listing books at grocery stores and call them to ask if you can run a business card sized ad and the cost.

I have 2 50 dollar per month paper ads that right now are producing about 3 leads a week each.

Might try 1000 pieces of direct mail as well, and contact your local newspaper to see if they'll run a press release about you as a "new agent" with mutual in town. Its business news, and its not hard if you go in there and at least pretend that you'll buy ads in the future.

 

[HarryRenard]

I would be pretty surprised if your manager won't send out a few thousand mailers to get you started, but you got ask for them.
In addition to that I would focus more of my energy on ORPHANS, I would take orphans over any type of leads, work them thouroughly and build relationships and it will pay off.

Always remember its a marathon not a race.

 

[newrep17]

Very interesting. Thank you very much for the feedback. I guess I will focus more on the "orphan" leads. The guy I'm working with, he's a one man show in my area is 60+ and has more than 3000 insurance clients. He mentioned that he doesn't have time to call all of them to develop and expand their relationship. I know I can also buy these type of leads through the company. I think this could be a big opportunity though. I know they said that obviously some meetings like that won't pan out to anything but some could have some money or need additional insurance.

Moreover, I'm a fan of the payment recieved for insurance but I am ultimately interested in the financial side. I want to build a big book with insurance helping me accomplish that. They use the risk management peice as the first order of business when building a complete financial portfolio.

I failed the series 7 on my first attempt at MSSB so here I am. I think it's a good opportunity though, especially with the SR guy willing to share his office space and mentor me.

So revised plan...

Cold call, purchase cheetah.

Look into some small ads, with creative placement. (any ideas would be appreciated)

Work the orphan leads.

This approach will sounds more realistic in terms of ROI. haha

Thanks again.

 

[theinsuranceman]

Spend 150 dollars and get mojo and buy yourself a list of 1000 64-79 year olds for 100 bucks and sit down and call them. You'll be in a lot better shape than you would have been with the mailers.

Find local publications, with limited circulation, like real estate listing books at grocery stores and call them to ask if you can run a business card sized ad and the cost.

I have 2 50 dollar per month paper ads that right now are producing about 3 leads a week each.

Might try 1000 pieces of direct mail as well, and contact your local newspaper to see if they'll run a press release about you as a "new agent" with mutual in town. Its business news, and its not hard if you go in there and at least pretend that you'll buy ads in the future.

What product are your 2 newspaper ads for? How's conversions for these leads working out? Can you post your ads up here?

 

[WinoBlues]

I would be pretty surprised if your manager won't send out a few thousand mailers to get you started, but you got ask for them.
In addition to that I would focus more of my energy on ORPHANS, I would take orphans over any type of leads, work them thouroughly and build relationships and it will pay off.

Always remember its a marathon not a race.

Ditto.........

I have made more money off of bene changes, bank changes and annual reports.

 

[newrep17]

That makes sense....

I'm going to be in an office with only one Sr guy. He is 60+ years old and has roughly 3000+ orphan insurance accounts he tells me he doesn't have time to call them to develop the business. I know most won't have anything but I could use those prospects and his relationship to expand their relationship or get referrals.

The Sr guy is going to be my mentor as well. He has his own advisory firm as well.

I feel like that is a good situation in terms of the coaching and the orphan accounts.

So, the new plan is to...

Use Mojo or Cheetah...

Use Orphan accounts through the company and the Sr advisor.

Ask them to send out my first mailer...the recruiting guy might do it. I think he may be buying my business cards and/or a tri fold pamphlet. (FYI the Sr guy likes going into meetings with the pamphlet, he uses this book he co wrote, says it works everytime)

I'm really interested in advertising. I know you mentioned to advertise a business card in a few publications. What publications do you look for? I was thinking something old people would read. Or there is a few local business magazines. I have to look around. Most that I found charge around $150 but they get 15000 visitors, 5000 unique visitors, that is for a website ad. I don't know still researching this aspect.

Or this is an interesting option but SUPER expensive. You can ad a business reply post card in the magazine as a tear out. Sounds cool but they want 5 K for that. haha

So, Mojo or Cheetah (which do you prefer?), Orphan Accounts, Lead Websites, Wait on Mailers unless they pay, and Network like crazy.

I was also thinking of taking the pamphlets and going to offices to see if they would let me put them in waiting rooms.

Any additional feedback greatly appreciated.

 

[newrep17]

Why won't my messages post? I posted two messages and they aren't posting.