No Shows and Cancellations

[jacobtn]

JD -- curious -- have you ever attempted to qualify over the phone for FE?

Not at all suggesting what you're doing is wrong -- but what's the downside to qualifying for FE over the phone?

FE is simplified issue. I would never qualify on the phone. If you have several carriers, you always have a place for everyone. You can get more accurate health info when you are there in their home and the more time you spend on the phone, the greater the odds they will not give you an appt.

However, if they tell me they are mailing in their premium on their current policy, sometimes that is a red flag (no bank acct?) I ask "are you mailing in a money order to them"? If they say yes, I ask if SS deposits direct in their acct. If they say they don't have a bank account, I won't fool with them.

That's the only qualification I do, and I won't do that unless they tell me they are mailing in their premium. Most ppl have a bank account.

 

[rousemark]

FE is simplified issue. I would never qualify on the phone. If you have several carriers, you always have a place for everyone. You can get more accurate health info when you are there in their home and the more time you spend on the phone, the greater the odds they will not give you an appt.

However, if they tell me they are mailing in their premium on their current policy, sometimes that is a red flag (no bank acct?) I ask "are you mailing in a money order to them"? If they say yes, I ask if SS deposits direct in their acct. If they say they don't have a bank account, I won't fool with them.

That's the only qualification I do, and I won't do that unless they tell me they are mailing in their premium. Most ppl have a bank account.

You don't ever use the direct monthly billing that is offered by some companies? I know persistency can be lower on that type of business but if they are already paying a policy in that manner and have had it for some time, the odds are good they will keep anything you add to it.

 

[somarco]

It's in the FE forum.

OK, so all the other advice is pretty much useless too. FE is a show up and sell game.

Got it.

 

[Rearden]

I agree -- I mean more of qualifying for need and an urgency versus health. But we primarily work lead cards versus cold calling, so half the time you wonder if the person sent the card in because they actually *have* a need, much less urgency, for life/burial insurance.

FE is simplified issue. I would never qualify on the phone. If you have several carriers, you always have a place for everyone. You can get more accurate health info when you are there in their home and the more time you spend on the phone, the greater the odds they will not give you an appt.

However, if they tell me they are mailing in their premium on their current policy, sometimes that is a red flag (no bank acct?) I ask "are you mailing in a money order to them"? If they say yes, I ask if SS deposits direct in their acct. If they say they don't have a bank account, I won't fool with them.

That's the only qualification I do, and I won't do that unless they tell me they are mailing in their premium. Most ppl have a bank account.

 

[rousemark]

OK, so all the other advice is pretty much useless too. FE is a show up and sell game.

Got it.

There is more than one way to skin a cat and your way may work in FE just as much as others. Some in FE are truly "show up and sell" guys.. They never make appointments. Others operate more on the order of JD. They always make appointments. You see them debating which way is best all the time..

 

[jdeasy]

JD -- curious -- have you ever attempted to qualify over the phone for FE?

Not at all suggesting what you're doing is wrong -- but what's the downside to qualifying for FE over the phone?

Yes, back early in my career I said too much on the phone. I even gave prices.

Before FE I was with NAA. Early there I learned to do the "Hudgens System" where you qualifed them over the phone and did just about everything by phone. You did still go meet with them to fill out the app and get a check, but they knew that before you got there. I was closing them all in the home. Problem was I wasn't seeing enough people.

After a few months of that and talking with top producers I learned to stop doing all that qualifying and my business took off. I wasn't closing as many % wise, but I was seeing far more people.

For FE one of the best bits of advice I ever got was , "the more you tell, the less you sell". That was referring to setting appointments on the phone.

There is no reason to qualify with FE. Everyone qualifies for something. We have companies that will bill monthly for the no bank account people. There is no one that I can't get something for from age 0 thru 89 in any health condition. Not saying they will do something, but I can if they will.

I don't worry about no shows, no sales or whatever. I schedule 6 to 7 appointments for a day in the field and if one is a no show or no buy I move on to the next one. If I get ahead on my schedule I will pull out some cards for people that I haven't been able to reach and doorknock.

The only time I will do any qualifying on the phone is if the person is way outside of the area I'm working. Or it it's a single appointment.

If you start qualifying on the phone it's most likely going to lead to a price discussion. Once they hear pricing on the phone for whole life and they have received all this term pricing in the mail, you're pretty much done. Or, I am. In the home I can get over that because I explain why that stuff is cheaper. I suppose one could overcome that stuff over the phone. But, if you can, why not just be a telemarketer and sell by phone? Personally, I have no desire to be a telemarketer.

If it ever becomes that the way to do FE is by phone and face to face becomes obsolete, I will move to another field.
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OK, so all the other advice is pretty much useless too. FE is a show up and sell game.

Got it.

No, smartass. But it was posted in the FE forum so one would assume we are talking about FE.
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There is more than one way to skin a cat and your way may work in FE just as much as others. Some in FE are truly "show up and sell" guys.. They never make appointments. Others operate more on the order of JD. They always make appointments. You see them debating which way is best all the time..

I'm not debating which way is best. If that's what you took as what I've said here then I apologize.

I am talking about what's best for me. And how I do it. There are some very successful doorknockers for FE. Good on them. That is not for me. Not that my way would better for them. Obviously it wouldn't be.

There is one FE agent that claims that he is successful selling purely by phone. Good on him if he is.
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I agree -- I mean more of qualifying for need and an urgency versus health. But we primarily work lead cards versus cold calling, so half the time you wonder if the person sent the card in because they actually *have* a need, much less urgency, for life/burial insurance.

They had a need/want when they sent it in. Whe i call I say I'm calling about life insurance. If they set an appointment with me I can only assume they still have that need/want.

The tire kickers and the "thought it was something else" people come clean when I say I'm calling about "life insurance". I don't meet with those people.

 

[nightmareonelmst]

if they stand u up---bill 'em

 

[rousemark]

I'm not debating which way is best. If that's what you took as what I've said here then I apologize.

I am talking about what's best for me. And how I do it. There are some very successful doorknockers for FE. Good on them. That is not for me. Not that my way would better for them. Obviously it wouldn't be.

There is one FE agent that claims that he is successful selling purely by phone. Good on him if he is.
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Perhaps "debate" was the wrong phrase...I know you have always said that was what worked best for you but might not for others. If I were working lead cards, I would probably be a "show up and sell" guy. Old school, taught to canvas door to door in the beginning.. Feel I can be more persuasive in getting in the door in person.May be the phone intimidates me?

 

[moonlightandmargaritas]

If I were working lead cards, I would probably be a "show up and sell" guy. Old school, taught to canvas door to door in the beginning.. Feel I can be more persuasive in getting in the door in person.

Depends on what and who you're working with. This might be effective with low quality prospects, but not with better quality prospects.

 

[somarco]

No, smartass. But it was posted in the FE forum so one would assume we are talking about FE.

Actually, I assumed the OP was asking how to avoid no shows and cancellations which is pretty much universal in the old time kitchen table sales game. But then as you constantly tell people, what works in other markets doesn't work in FE.