Regularly scheduled programming

[theinsuranceman]

Why? I'd think the opposite. How do you explain that?

Simple. FE DM leads are usually mailed to incomes of 50k and less. Ms. Jones might be in a 65K income and never get a DM card in the mail, but she can see the TV commercial and respond and buy with a higher premium. Persistancy better because she has more disposable income. That's the only explaination I can think of.

Maybe Duford, JR, or Massi can shed some light on this.

 

[jdeasy]

Simple. FE DM leads are usually mailed to incomes of 50k and less. Ms. Jones might be in a 65K income and never get a DM card in the mail, but she can see the TV commercial and respond and buy with a higher premium. Persistancy better because she has more disposable income. That's the only explaination I can think of.

Maybe Duford, JR, or Massi can shed some light on this.

I don't believe that to be true. Maybe within your little shell of one small company those are the numbers. But not industry wide.

You are not giving explanations. You are giving recruiting hyperbole. Which is all you ever do.

You wouldn't know a fact if it walked up and introduced itself to you.

As for your vaunted TV leads, TV leads are the worst leads I've ever worked. I told Barry that when he was pimping his great TV leads. He got all butthurt just like you do when presented with facts.

Barry is already out of the business. But recruit away. It's obviously not working for you. You have recruited 24/7 from the time you signed up here and still don't have a team.

Even DonP has better luck recruiting that you do.

 

[theinsuranceman]

Sales is persuasion. If a prospect says, "I want to thing about it...", do you really believe they will continue to sit there waiting for a robot to overcome their objection(s)?
I was seriously hoping you were joking.

Maybe not yet but definitely in the future. Besides, AI bots wouldn't feel the pressure to make a sale/commission like a human would so maybe they don't close as hard?

Of course the carrier would prefer every TV responder to result in a sale, but since there are ZERO commissions paid out on sales, the closing % could be much lower than it would be with a human agent yet the profit is much better for the carrier. TV transfers have more lay downs than DM leads.

 

[theinsuranceman]

I don't believe that to be true. Maybe within your little shell of one small company those are the numbers. But not industry wide.

You are not giving explanations. You are giving recruiting hyperbole. Which is all you ever do.

You wouldn't know a fact if it walked up and introduced itself to you.

As for your vaunted TV leads, TV leads are the worst leads I've ever worked. I told Barry that when he was pimping his great TV leads. He got all butthurt just like you do when presented with facts.

Barry is already out of the business. But recruit away. It's obviously not working for you. You have recruited 24/7 from the time you signed up here and still don't have a team.

Even DonP has better luck recruiting that you do.

You look foolish talking about something you can't even do.....telesales. Yes premiums are higher, for you to say otherwise just shows your ignorance. Everyone exposed to telesales knows this. Just because you couldn't work TV leads doesn't mean other agents can't. You're just not as good as your ego wants to believe. I don't have time to debate this with you as you're just not worth the time.

 

[GMDM100k]

Tv leads or live transfers are not the future. Anything to do with TV is dying. It will be nonexistent. Ads during, before , after a show or a movie are obsolete. Advertising will be done through social media, online, on aps and games. . It's the only thing that is producing consistent low cost results.
Direct mail is on its way out too. It's all going to be web leads. Whether we like it or not if you want to stay in business more than a few years, you will have to figure out how to adjust.

Telesales is also not the future. It will still be door to door. People want to order something on an app and have it delivered to their house. Food. Products. Rides. Soon even insurance. No one wants to talk on the phone with a sales man.

I imagine a lot you you old farts are in our market. How many spam calls you get a day? Oh wait you're probably on the do not call list and just hope you get a call so you can file a lawsuit. People will always answer their door. How else will the next generation even be able to eat if they don't? People used to open the door for me because they thought I was delivering a package. Now it's their food or insta cart.

The problem with a telesales agency is the volume of calls that have to be made and the data required. If an agency wants to write a half a million over the phone they'd have to make hundreds of thousands of calls a day. That's millions a month. And you and every other telesales agency is buying the same data that's not on the do not call list. Persistency is shit. Everyone knows that. It's a fact in the data.

Sure I can have a small team of guys to clean up leads the field sales can't get to. Maybe 6 to 10. But you're not going to be able to sustain and agency with only phone sales. The amount of leads you need to work is too high to be cost effective for an agent. You could wait around all day for a couple live transfers. But if you want to write at the same value and consistently as a field agents and make as much money you will need a lot of cheap data and a great dialer. And be prepared to get sued.

That's the biggest problem. Being sued. Senior life just paid a half a million dollar lawsuit for calling a person they shouldn't have. They're certainly not the only company to pay out big money for doing telesales. The companies will not do anything to get them sued. The companies don't want telesales to be a part of your future growth plan. If they do now. They won't very very soon. And imos which are the driving force of this industry can't generate a large sustainable agency as easy as they could with a. Field force.

My prediction is tv and direct mail will be out. Web will be in. And it will still have to be door knocked. That's the next 20 years at least.

 

[jdeasy]

You look foolish talking about something you can't even do.....telesales. Yes premiums are higher, for you to say otherwise just shows your ignorance. Everyone exposed to telesales knows this. Just because you couldn't work TV leads doesn't mean other agents can't. You're just not as good as your ego wants to believe. I don't have time to debate this with you as you're just not worth the time.

You have plenty of time. What you don't have is a valid argument. I did work the TV leads. And I made sales. Something you know nothing about. But by comparison to every other lead I've worked instead of talked about, TV leads were the worst.

Nor do I believe the average premiums are higher with telemarketers doing the sale. The only source that says differently is you. And you are not a believable source.

 

[jdeasy]

Tv leads or live transfers are not the future. Anything to do with TV is dying. It will be nonexistent. Ads during, before , after a show or a movie are obsolete. Advertising will be done through social media, online, on aps and games. . It's the only thing that is producing consistent low cost results.
Direct mail is on its way out too. It's all going to be web leads. Whether we like it or not if you want to stay in business more than a few years, you will have to figure out how to adjust.

Telesales is also not the future. It will still be door to door. People want to order something on an app and have it delivered to their house. Food. Products. Rides. Soon even insurance. No one wants to talk on the phone with a sales man.

I imagine a lot you you old farts are in our market. How many spam calls you get a day? Oh wait you're probably on the do not call list and just hope you get a call so you can file a lawsuit. People will always answer their door. How else will the next generation even be able to eat if they don't? People used to open the door for me because they thought I was delivering a package. Now it's their food or insta cart.

The problem with a telesales agency is the volume of calls that have to be made and the data required. If an agency wants to write a half a million over the phone they'd have to make hundreds of thousands of calls a day. That's millions a month. And you and every other telesales agency is buying the same data that's not on the do not call list. Persistency is shit. Everyone knows that. It's a fact in the data.

Sure I can have a small team of guys to clean up leads the field sales can't get to. Maybe 6 to 10. But you're not going to be able to sustain and agency with only phone sales. The amount of leads you need to work is too high to be cost effective for an agent. You could wait around all day for a couple live transfers. But if you want to write at the same value and consistently as a field agents and make as much money you will need a lot of cheap data and a great dialer. And be prepared to get sued.

That's the biggest problem. Being sued. Senior life just paid a half a million dollar lawsuit for calling a person they shouldn't have. They're certainly not the only company to pay out big money for doing telesales. The companies will not do anything to get them sued. The companies don't want telesales to be a part of your future growth plan. If they do now. They won't very very soon. And imos which are the driving force of this industry can't generate a large sustainable agency as easy as they could with a. Field force.

My prediction is tv and direct mail will be out. Web will be in. And it will still have to be door knocked. That's the next 20 years at least.

Probably pretty accurate. I didn't know SL paid a settlement. But I do know of others that have. But it hasn't slowed the telemarketers calling one bit. Especially the medicare calls. The medicare calls are 10 to 1 over the Camp Lejune calls, the car warranty calls, the cable TV calls, the final expenses calls, etc. All illegal. All from spoofed numbers.

And you are correct on DK'ing. I'm doing more now than ever. Much of it by choice as I just don't want to be on a schedule.

Times change, business changes. We have to adapt. Or do something else.

 

[GMDM100k]

Probably pretty accurate. I didn't know SL paid a settlement. But I do know of others that have. But it hasn't slowed the telemarketers calling one bit. Especially the medicare calls. The medicare calls are 10 to 1 over the Camp Lejune calls, the car warranty calls, the cable TV calls, the final expenses calls, etc. All illegal. All from spoofed numbers.

And you are correct on DK'ing. I'm doing more now than ever. Much of it by choice as I just don't want to be on a schedule.

Times change, business changes. We have to adapt. Or do something else.

I think the telesales is popular right now because people want to sit on ass. People have always wanted to just sit at their house and earn money. Since the beginning of time humans have wanted to put in minimal effort and achieve the maximum results.

since covid hit an people were forced to work from home, now most workers want that to continue. Not just our industry. But all of them.

 

[DayTimer]

Telesales already generates higher premiums that the traditional face to face.

Why? I'd think the opposite. How do you explain that?

It does appear to be the case, and it is probably because the folks willing to do business over the phone are slightly more sophisticated and accustomed to doing business electronically. The typical F2F FE DM responder seems to be more broke than those calling in off of a TV ad or responding to a telemarketing cold call.

I don't know if it matters if we can explain it or not. There is actual hard data available from organizations such as @DigitalBGA.com and @JRoot that has avg premium on telesales between $940 and $1200 depending upon lead source.

I suspect F2F off of DM is close to the $600 to $800 range?

 

[GMDM100k]

It does appear to be the case, and it is probably because the folks willing to do business over the phone are slightly more sophisticated and accustomed to doing business electronically. The typical F2F FE DM responder seems to be more broke than those calling in off of a TV ad or responding to a telemarketing cold call.

I don't know if it matters if we can explain it or not. There is actual hard data available from organizations such as @DigitalBGA.com and @JRoot that has avg premium on telesales between $940 and $1200 depending upon lead source.

I suspect F2F off of DM is close to the $600 to $800 range?

Based on the data from my own agency I have seen an increase in premium size. $64 a month for field sales and $84 a month for telesales.

I don't attribute that to a different sophistication level of the clients though. I believe that the lower closing ratios and lengthened sales process makes the agents chase higher premiums. I also believe the higher premiums cause the persistency to be even lower. From my data I've noticed telesales agents running at about 15 percent lower compared to the same product sold in the field.