Questions for Active Med Supp Agents

What would you be willing to pay on a fixed per lead cost without any filters for exclusive telemarketed leads?
What type of an ROI would you expect relative to FYC?
What is your monthly/weekly budget for leads?
How much business do you do over the phone/internet?

Interesting, I have only been selling Medicare Supps and MA (No PDP) to referrals and a few internet leads.

In Florida, avg T65 premium in my county (PASCO) Plan F is around $2000 from AARP or BX. So that's about $200 FYC. Around 14 companies offering a 0 prem MA plan.

I'd have to listen to a call to see what kind of script is being used and what a prospects response verbally is... if it's a "oh yea I'll take his call" or someone more interested.

I've never bought telemarketed leads b4, so I wouldn't know what to expect.

I do ALL biz over the phone. No f2f Ever.

I could prob spend $1k-5k a month, depending on how they worked out, and if they were good, get my brother licensed and appointed so I dont have to deal with it----so I can concentrate on my blackhat seo.
 
I am now "As Earned" with all of my Med Supp contracts, and gald to be off of the advances (12%-18% is a lot to pay in interest). As such, any new sales that cost more than one month commission result in an immediate negative cash flow, though a long term positive cash flow.

Let's look at the math: I spend $2,000/mo for about 100 leads and lets say I close 1/5 (%20), an optimistic percentage. At the end of the month I have 20 new sales, or about $500/mo in new income. It will be about 4 months before I have made back the $2,000.

Is this a good investment for the long term? I think it is, since the residual income is what I would be after. However, one must be careful as to how quickly they start dumping money in. If you have $10K sitting around doing nothing, then it might work well. However, if you are looking to grow your business without a lot of debt, it may not be quite as attractive.

Thats unfortunate that you get charged interest on your advances. The only company that charges me interest is Gerber, and I wrote 1 policy with them. Never again.
I get an advance but currently I am only spending ~$500/month on leads. My goal is to up it to ~$800 by the summer. I couldn't imagine spending $2k but netting 100 leads would get me about 25 sales a month plus referrals. It would easily be worth it.
 
How hard is it for you to do this?

Not particularly hard depending on the area. I already have the script, lists, telemarkters, and phone server. I pretty much setup the campaign and let it happen.
 
Thats unfortunate that you get charged interest on your advances. The only company that charges me interest is Gerber, and I wrote 1 policy with them. Never again.
I get an advance but currently I am only spending ~$500/month on leads. My goal is to up it to ~$800 by the summer. I couldn't imagine spending $2k but netting 100 leads would get me about 25 sales a month plus referrals. It would easily be worth it.

spend money on quality leads and you will earn plenty. Agents often forget if you want to earn more you must spend more. Dont be afraid to advertise. If you have the knowledge and good products people will buy. Hard working Phone Agents should be able to handle 15-20 leads a day. 15 leads @ 15 per = 225.00. A good agent should sell at least two. One sale pays for your entire lead bill the second sale is all profit. You will also make more on the back end. Of course throw in Referrals, Cross selling of FE or Dental/Vision/Hearing and eventually youll have a great book.

Best Wishes
 
Hard working Phone Agents should be able to handle 15-20 leads a day. 15 leads @ 15 per = 225.00. A good agent should sell at least two. One sale pays for your entire lead bill the second sale is all profit.

I wonder how many agents are following this business model in the supp biz...?

My guess, not many. If you are, or know of anyone that is, I'd like to hear some feedback on this approach...

1) who you use as a lead co;
2) internet or telemarketed leads;
3) how long you've been following this model;
4) instant success, or trials and tribulations and eventually honed into your current game plan...
5) any other helpful and pertinent info
 
I wonder how many agents are following this business model in the supp biz...?

My guess, not many. If you are, or know of anyone that is, I'd like to hear some feedback on this approach...

1) who you use as a lead co;
2) internet or telemarketed leads;
3) how long you've been following this model;
4) instant success, or trials and tribulations and eventually honed into your current game plan...
5) any other helpful and pertinent info

been following this model with Indy for 7 years and incorporated Med Supp with MAPD the last 3 years. Going forward we hope to focus more and more on the senior market. Baby Boomers,flat commish first 6 years and cross selling FE with Dental/Vision/Hearing is very attractive.

lead co - 75 % we develop on our own via web sites and mailers. 25% we purchase from others.

instant success?

heres the graph

384689_314571661905627_205344452828349_1200600_312713237_n.jpg
 
lead co - 75 % we develop on our own via web sites and mailers. 25% we purchase from others.

instant success?

heres the graph

384689_314571661905627_205344452828349_1200600_312713237_n.jpg

I agree with graph #2 on success, or lack thereof on some days. How true.

So in reality you aren't following the plan of spending 225 per day for leads... you are self generating 75% of those leads at some opportunity cost via your time, no doubt, and buying 4 of those leads per day, on avg... if your 25/75 math is close to accurate...?

Using leadco, and others, but getting a low lead flow since AEP has ended. (to be expected). No doubt using too small of an area, like a 50 mile radius of point X, since I am predominately f2f... and wish to remain that way.

Need to establish a method for greater lead flow... just haven't found it yet; working on some killer ideas though, that in time should produce the desired effects.
 
spend money on quality leads and you will earn plenty.

Define "quality leads" and where you consider the best place to get them.

My definition of a quality lead would be where I know the name of the company they currently have their insurance with, exactly how much they are paying per month and the answers to five or six health questions. Examples would be: Have you been in the hospital recently, do you take a lot of heart related medicine, do you use insulin, do you use a wheelchair or walker, do you receive home health care, etc.

That is the kind of information I get within the first sixty seconds of the initial phone call. As a licensed agent I also tell them to the penny how much a policy will cost if they switch to the company I represent. If I were to ever hire a telemarketer again I would pay to get him/her licensed so they could quote the premium in the first sixty seconds of the call.

I might consider purchasing that kind of lead if the cost was reasonable.
 
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