Newly licensed 2-14 agent

[Adrianne Emanuel]

Consider rethinking this business. You’re an entrepreneur here. How

Not trapped by you, but you getting yourself caught in a trap.
Here is some guidance, if you’re serious. Independent, implies entrepreneur, self-employed, business owner. Leads, amongst other things, are the costs of doing business. How much revenue are you willing to sacrifice in exchange for free leads? For example, if you’re a restaurant owner, what is in it for the food distributor to give you a case of chicken for free?
Would you accept a 50/50 split on the gross revenue you generate, even if you don’t profit?
Be careful of the predators in this industry. If you start out with the wrong organization, you could lose your taste for the insurance business for good.
When you’re new, paying for you own leads appears is terrifying. However, buying your own leads is actually best, if you know what to expect. Your profit margin on sales will be higher.

For example, if you spend $30 per lead and you buy 20 leads of people who expressed interest, your expectation should be that 70% will turnout to be worthless. That means you should only expect 5-6 to do business with you.
Now, the discouraging part is all that money you spent for 15 out of 20 to tell you to p*ss off. And if you’re not careful, you will become expense driven and count every dollar spent on how many told you “No.” However, if you remain focused and become revenue driven, the math is as follows:
You spent $600 today. By the end of the week, you closed 5 people at an avg. monthly premium of $60 each. That’s $3600 in annualized premium, from which you may earn 110-120%+. Seventy-five percent of that will be deposited into your bank account. Now, not only did you earn a profit, but you have $600 to buy another case of chicken to sell next week.
In the beginning, the most difficult part is the psychology of coping with the rejection and trusting the formula.
Just my $0.02.

Ohhhh.. now I understand. Thank you for your 2 cent.. I've gone through all that you've described, except the profit..I bought 3 bad leads and questioned if this was a good idea or not.. everything is telling me YES.. "you just got started..it takes time to bloom into a butterfly so patience grasshopper "‍ hense the need to get with one good company to show me the ropes.

 

[Chazm]

Ohhhh.. now I understand. Thank you for your 2 cent.. I've gone through all that you've described, except the profit..I bought 3 bad leads and questioned if this was a good idea or not.. everything is telling me YES.. "you just got started..it takes time to bloom into a butterfly so patience grasshopper "‍ hense the need to get with one good company to show me the ropes.

Why was it a bad lead? Because they didn’t buy? Or was it a wrong phone number?

 

[Adrianne Emanuel]

They all said they didn't request anyone to call for insurance..nor did they admit to have a Facebook account..I told them it was for final expense/ life insurance and they said they had policies.

 

[goillini52]

They all said they didn't request anyone to call for insurance..nor did they admit to have a Facebook account..I told them it was for final expense/ life insurance and they said they had policies.

That's true with any type of lead. 25 years ago I had a lady swear up and down that she didn't send that DM lead in. When I showed it to her, she remembered filling it out in blue crayon because her pen ran out of ink.

I still didn't get in the door.

You just need to realize that a certain % of those leads are no good. There are serial responders...whether it's DM, TM or internet.

 

[Adrianne Emanuel]

Thank you...I was just surprised to even hear an 80 year old on Facebook but I guess that's the times were in now. I'm still excited about this new venture so I know it can't been bad with these leads..like you said, some are good and some are bad.. thanks again!

 

[Chazm]

They all said they didn't request anyone to call for insurance..nor did they admit to have a Facebook account..I told them it was for final expense/ life insurance and they said they had policies.

First mistake was asking them if they requested info.
You’ll need to talk to a lot of people to start getting some sales flowing. A few leads won’t do it.

I was trained to cold call back in ‘09 and eventually, after months, I started buying leads.