New to EFES, Question About Leads

[GoCubsGo]

Nick at ILIAA sent me a Lead2Success lead order form last week that said the leads are $345 per thousand. Talked to Leads2Success today and they said leads are normally $410 per thousand but $360 with the ILIAA discount with an additional 5% discount for the first order. Brings first order to $342.

They also sell lists and do printing, bus cards, brochures etc.

 

[rizzle]

was thinking of maybe getting on board with efes. but reading this does seem a bit damn confusing... was it ever disclosed what happened to op's original leads on why it took months to recieve after they came in? i don't get it.

anyone selling from their mailer have people say they thought it was a free service that they may qualify for? seems the wording sort of alludes to that. saying it will pay for what SS does not pay up to $25,000. then on bottom it says this is a FREE service.
can you choose a mailer that clearly indicates that it's not a free service?

 

[billyg]

was thinking of maybe getting on board with efes. but reading this does seem a bit damn confusing... was it ever disclosed what happened to op's original leads on why it took months to recieve after they came in? i don't get it.

anyone selling from their mailer have people say they thought it was a free service that they may qualify for? seems the wording sort of alludes to that. saying it will pay for what SS does not pay up to $25,000. then on bottom it says this is a FREE service.
can you choose a mailer that clearly indicates that it's not a free service?

You can not choose a different lead card with EFES, but it shouldn't matter. It gets you in the door. That is the important thing. Your closing ratio shouldn't be any different with their lead vs MSPM, or any one else's lead. What matters is it gets you in the door.

With either EFES or Securus, you only pay for the lead, not the mailing. so if they get a poor response rate, you are not penalized financially (though you may not get the volume you desire). If you do your own mailing, you can pick your lead card, or even design your own. But you run the risk of pulling a low response rate, effectively increasing the cost of each lead.

 

[rizzle]

someone indicated you are billed each week for the leads you requested and only after production do you pay after the leads are received. im wondering if the CC gets charged each week initially until ones begins adequate production. it seems there would be much more billed than leads received for first few months. especially if the area has a lower response rate.

 

[jdeasy]

was thinking of maybe getting on board with efes. but reading this does seem a bit damn confusing... was it ever disclosed what happened to op's original leads on why it took months to recieve after they came in? i don't get it.

anyone selling from their mailer have people say they thought it was a free service that they may qualify for? seems the wording sort of alludes to that. saying it will pay for what SS does not pay up to $25,000. then on bottom it says this is a FREE service.
can you choose a mailer that clearly indicates that it's not a free service?

There are two mailers with EFES and you can chose which one you want. One gets a higher response, but I think it's more misleading.

I do not like the $255 lead cards that are sent out by almost everyone, but, do you know why everyone uses it? It's because it works.

You can do your own mailers and taylor it to say whatever you want it to say. I did some several years ago that said it was about life insurance, said by mailing it in you were agreeing to have an agent contact you about life insurance. They were fantastic leads. The response was about .02%. That means one of those leads troday would cost you over $200 each.

The lead reply cards people send in are just a means to contact them. if the leads said what we all want them to say they wouldn't need agents. They could just hire high school kids to go around and collect the applications, { I stole that line from Travis}. It is our job as agents to turn that interest into applications. if you cannot do that, you cannot do this job. Anyone can sell the laydowns.
- - - - - - - - - - - - - - - - - -

someone indicated you are billed each week for the leads you requested and only after production do you pay after the leads are received. im wondering if the CC gets charged each week initially until ones begins adequate production. it seems there would be much more billed than leads received for first few months. especially if the area has a lower response rate.

With EFES you are only charged the initial start up fee that includes your first batch of leads. There are a few different packages.

After that you only pay for leads that you receive and you don;t pay until 10 days after you have gotten them. The leads I paid for on Wed of tis week were leads I got on Feb. 4th.

 

[theinsuranceman]

There are two mailers with EFES and you can chose which one you want. One gets a higher response, but I think it's more misleading.

I do not like the $255 lead cards that are sent out by almost everyone, but, do you know why everyone uses it? It's because it works.

I don't think everyone uses these $255 leads because they work. Heck, 90%-95% of FE agents go broke and quit using these leads.

Everyone uses these leads because the response rate is higher (because some of the responders think the gov't is giving them something free, not even aware this is about insurance), which makes the lead cost lower, which makes it easier for the upline mgr. to finance these leads for their agent(s). However, the top 5%-10% of FE agents can make a nice living working these leads.

The upline that's generating these leads is concerned with the RESPONSE rate, the agent is more concerned with CONVERSION rate.

For EX.:
I'd be happy to pay $400 for 4 leads if 3 of them buy rather than pay $400 for 20 leads knowing that 5 would buy.

Why you ask, since I'd make more comm. writing 5 apps with the 20 leads? Because I could work those 4 leads much much quicker than I can work 20 leads. (60% of the comm. in 20% of the time rather than working 20 leads with a 25% closing ratio).This means I can make more comm. per hour paying $100 for leads that ave. a 75% closing ratio. Most agents don't factor in their comm. made per hour, they just look at their comm. earned per lead cost. Need to look at comm. earned per lead cost divided by time invested.

 

[rapidrobert]

Rizzle- you only pay for the leads you receive. You will start out paying $30 per lead. You WILL be billed every week. The 10 days before you pay is the first leads- you DO run behind, but there's a lead bill every week.

 

[jwill13]

Rizzle- you only pay for the leads you receive. You will start out paying $30 per lead. You WILL be billed every week. The 10 days before you pay is the first leads- you DO run behind, but there's a lead bill every week.

I don't think it is $30 per lead, at least it is not for me, I am paying $24 I think. At any rate, yes Rizzle you will pay your first set of leads up front, then expect to wait quite a while for them to trickle in while they supposedly learn your area. Take it from an objective person in his first couple of months with Equita. The good things about EFES that I have found: their training is really helpful, they do three conference calls a week answering questions and bringing in top agents who give their secrets and how they make it work. VERY informative. Negatives, you will feel like a captive agent, the leads will be very slow, and there will be many things you shake your head at, if you are like me. If you are just starting out it will be next to impossible to come out of the gate and try and convince people who think they are getting info on a free government program, to tell them that there is no such thing and then try and get them to commit to spending $50 a month on life insurance in one appointment. I know there are techniques and some are very good at it, I just haven't gotten there yet, and meanwhile I am losing money fast. And it doesn't help when the leads I am getting are older than promised. I am constantly told they are sent out first class, sent back first class, thereby only allowing only couple of days from the time the client sends it in to the time it is uploaded and you can call them. EVERYONE I have asked so far has said it was at least a month, with one lady saying it was at least 2 months since she filled out the card and she bought other insurance in the mean time! I just don't get it.

 

[Rearden]

Great point, Greg.

I'm not saying that the standard-fare FE leads don't work, but there's an inherent bias for uplines/lead generator firms to focus on response rate, when truly it's all about return on investment, with investment the sum total of your lead expense, gas bill, and *time* (perhaps the most important variable).

Don't know if it's been done before... but I wonder if Securus or EFES would use a lead, generating only the most qualified prospects, in exchange for the agent being charged $50-$60 each lead. I doubt they would.

There are two mailers with EFES and you can chose which one you want. One gets a higher response, but I think it's more misleading.

I do not like the $255 lead cards that are sent out by almost everyone, but, do you know why everyone uses it? It's because it works.

I don't think everyone uses these $255 leads because they work. Heck, 90%-95% of FE agents go broke and quit using these leads.

Everyone uses these leads because the response rate is higher (because some of the responders think the gov't is giving them something free, not even aware this is about insurance), which makes the lead cost lower, which makes it easier for the upline mgr. to finance these leads for their agent(s). However, the top 5%-10% of FE agents can make a nice living working these leads.

The upline that's generating these leads is concerned with the RESPONSE rate, the agent is more concerned with CONVERSION rate.

For EX.:
I'd be happy to pay $400 for 4 leads if 3 of them buy rather than pay $400 for 20 leads knowing that 5 would buy.

Why you ask, since I'd make more comm. writing 5 apps with the 20 leads? Because I could work those 4 leads much much quicker than I can work 20 leads. (60% of the comm. in 20% of the time rather than working 20 leads with a 25% closing ratio).This means I can make more comm. per hour paying $100 for leads that ave. a 75% closing ratio. Most agents don't factor in their comm. made per hour, they just look at their comm. earned per lead cost. Need to look at comm. earned per lead cost divided by time invested.

 

[GoCubsGo]

I don't think it is $30 per lead, at least it is not for me, I am paying $24 I think. At any rate, yes Rizzle you will pay your first set of leads up front, then expect to wait quite a while for them to trickle in while they supposedly learn your area. Take it from an objective person in his first couple of months with Equita. The good things about EFES that I have found: their training is really helpful, they do three conference calls a week answering questions and bringing in top agents who give their secrets and how they make it work. VERY informative. Negatives, you will feel like a captive agent, the leads will be very slow, and there will be many things you shake your head at, if you are like me. If you are just starting out it will be next to impossible to come out of the gate and try and convince people who think they are getting info on a free government program, to tell them that there is no such thing and then try and get them to commit to spending $50 a month on life insurance in one appointment. I know there are techniques and some are very good at it, I just haven't gotten there yet, and meanwhile I am losing money fast. And it doesn't help when the leads I am getting are older than promised. I am constantly told they are sent out first class, sent back first class, thereby only allowing only couple of days from the time the client sends it in to the time it is uploaded and you can call them. EVERYONE I have asked so far has said it was at least a month, with one lady saying it was at least 2 months since she filled out the card and she bought other insurance in the mean time! I just don't get it.

Sounds like you have yourself convinced they are bad leads. Not the attitude to have calling on a lead. And asking when they received the lead? I would take that out of your presentation. Does it really matter? Many are doing well with those leads, even in Michigan. Why not you? Answer that for yourself and fix the attitude, concentrate on your presentation. What objections are you getting that keeps them from buying and can you overcome it? That should be what you concentrate on.

You are far from being captive. You can contract with companies outside of EFES. Go do it and make yourself feel better. You can do your own mailings in conjunction with EFES. Join ILIAA and you can do a mailing with Leads2Success for $345. You can choose your lead card but they are all along the same line that as EFES. Everybody's is. Just be ethical and put the leads you get from EFES through EFES. Your own leads you can put anywhere and might want to put some through EFES to get your lead cost down with them. If you don't want to bother with all this stick to EFES and concentrate on the positive, on closing the sale and forgetting about the ones you can't. Purchase some old leads and use them to work on your presentation.

Oh and the free government program shouldn't even come up. Might be asking the wrong questions. If single ask: Mr Jones, God forbid you died last night, who would be making your funeral arrangement today? How would they pay for it? Find the need. May not be one.

For couples and singles use JD's method:
The very first thing I do when I walk into any home is find out why they mailed the card in. I tell that we find there is one of 3 reasons and I go over those. If they cannot tell me why the card was sent in I do not give a presentation in that home. I thank them for their time, give them my card and leave.
Number 1 reason we get these back is because you don't have anything in place to take care of your funeral, burial and or other expenses. 60% nod their head there and I stop and move on with a warmup and presentation.
Number 2 reason we get these cards back is because you have a little bit in place now and don't it's enough, need to supplement it and didn't know how to do that. Or, even to possibly save money on what you have? 30% nod their head at that one and I stop and move on with a warmup and presentation.
Number 3 is that you have all that taken care of, but you want to leave some money to family, church or charity. About 5% nod their head on that one. I stop and ask which of those was the interest and then move to a warmup and presentation.
If I have to ask what the reason was after going over all that I sometimes get the other 5% to say something. If it's crickets and they say it was none of them and they really can't comeup with a reason for me to stay, I give them my card and leave.
I do not do a warmup nor a presentation to uninterested people.
I do the 4 questions presentation after a decent warmup. I get very few objections at the end of my presentation. That's not because my warmup and presentation is so great, {even though it is}, it's really because I only present to interested people.

GOOD LUCK, just some food for thought.