Prospecting with reply cards for med supps

Jun 11, 2007

  1. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Do any of you senior agents make a living off of buying reply mailers? I have done 2 drops and have gotten crappy returns. I was going to use reply mailers as my main source of prospecting and that isnt going to work out with a 1% return.

    I know I have been told numerous times that I need to make calls off of lists myself but it isn't that easy for me. Is there any agents that are making it without making cold calls? If not I guess I will start buying lists instead of leads. This will be the last time I ask because I am pretty sure I have asked this before.
     
  2. aufan
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    aufan Super Genius

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    Senior, I'm just getting back into the senior market and med supps, but I took Mary's recomendation about Medicare Supplement Insuranc Services (www.msis.us) and I'm loving their leads.

    From what I understand when you (the agent) get the lead, the potential client has been contacted twice and they are told that you (the agent's name) will be contacting them shortly.

    Of my first twenty leads i'm probably gonna close about 7 or 8 cases. And some of those I didn't get anyone on the phone the first time I called, so i'll be calling them again.

    I'll keep everyone posted how it works out.
     
    aufan, Jun 11, 2007
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  3. Guest
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    Guest Guest

    senior,
    How many pieces are you mailing?
    If you mail 10000 at 1% then yes you can make it without a cold call.
    1000 at 1%...no way.
    You have to cold call...period.
    Or you can warm call...call those people after you mail them something.
     
    Guest, Jun 12, 2007
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  4. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Its been a total of 2k. I got 1k free but it should have cost me $700. If i get 20 leads i would figure to close at least 5. 5 cases at 250 is only 1250. Normally I would get 20+ leads from 1K mailing, now it takes 2? That sucks.
     
  5. Frank Stastny
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    Frank Stastny Guru

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    My experience calling reply mailers/direct mail leads. ( I consider them to be the same.)

    1. If you get any replies, it will be at least a couple of weeks after they returned it. Two weeks is a long time for anyone to remember anything that insignificant. It may not be to you but believe me when I say it is to them.

    2. When you call the person who "requested this valuable information", 99.985232% of the time they will have no recollection of ever having sent in the card. (I have even showed them the card they signed and they said "yes that is my signature" followed by "I didn't fill that out and send it in".

    3. At this point there is no difference between calling from a list or calling one of the "leads" that you paid so dearly for.

    4. What you perceive as "cold calling", that you say "isn't that easy for you" is all in your head. The person who sent the card in that you have convinced yourself is a "real lead" is nothing more than a name on a list. The only difference is that the name is now chosen for you and you have probably paid around $25.00 to have that name put on a separate card as opposed to being part of a list.

    I too use to believe that the name on that card was a "lead". And, it did make it easier for me to pick up the phone and call that person. After all, I had a "real reason" for calling them, they "sent in the card". So, it has to be a lead right? WRONG! It is still nothing more than a name and phone number of someone who is either approaching 65 or is already there and then some.

    So I tried calling from a list and calling using "leads". The result was that I got more appointments and made more money from the list than I did from the "leads".

    A direct mail "lead", it probably says something about Med Supps increasing or giving them "valuable info" about changes in Medicare, is nothing more than a name and phone number from a list that you have paid a lot of money for to get it put on a separate card.

    Once accept this and you get over thinking of it as a hot, warm, not frozen, p-warm, whatever lead you will make a lot more money and greatly reduce your frustration level.
     
  6. Guest
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    Guest Guest

    Frank,

    You have been giving that same piece of advice over and over and it is still the best marketing advice I have heard. Fact is, some folks just do not want to work that hard. Not saying that is you, Senior, but if you take his advice you will have the leads issue of this business settled once and for all...or at least until big brother tells you you can't make calls anymore.
     
    Guest, Jun 12, 2007
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  7. insurance0707
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    insurance0707 Guru

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    I agree...calling from a list can produce a much better return at a more reasonable rate. My problem is the Medicare Advantage plan that I offer doesn't allow cold calling. (BC of Mi) They have a great product, great rates, but it's hard to get the word out about it. Any suggestions?
     
  8. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Im just sure what to say to get the appointment off of a list. Can i just pretend they sent a card in? Hey Mrs smith, this is XXX from xyz. I am calling about the card you sent in a while back about the changes in medicare and saving money on youe med supp policy...blah blah blah?

    I have been spoiled with pre set appts this last year and that really made the phone much heavier for me. LOL
     
  9. cadylou
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    cadylou Guru

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    Before going into an arrangement with MSIS, an agent should contact them & find out about lead volume for YOUR GEOGRAPHY in advance. It is not the same everywhere. Here in Kansas City, the leads I got were crap & all for people turning 65 four months from the time of the "lead" call. No one was really called & many were errors (people in their 80's, etc.) If they produce a lot of leads in your area, great - but it is not the same for everyone & I've been horribly disappointed with their leads & their level of responsiveness. Do your homework--don't believe everything you hear.

    Maybe in your area they have a bigger lead generation effort - if so, go for it.
     
    cadylou, Jun 12, 2007
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  10. Guest
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    Guest Guest

    You can do that (say you got a card when you did not) and there are people who do. I personally refuse to do that because it is a lie plain and simple and it is not necessary. Just make more calls, identify yourself as a medicare supplement insurance agent and make conversation. Ask them if they would allow you to compare health plans for them. Tell them you can save the average person xx dollars. Look at each refusal as your cost of doing business...it is part of sales and a lot cheaper than a $400 mail drop that will still get you 990 refusals.
     
    Guest, Jun 12, 2007
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