Regularly scheduled programming

[noah]

I don't know what it means. But yes I do think FE agents will be gone in 30+ years, not necessarily 10-20. But who knows? Telesales already generates higher premiums that the traditional face to face. And higher premiums help agents keep up with inflation and lead costs rising and rising. Does that mean face to face will become almost nonexistent because of smaller commissions when compared to telesales? Will face to face and outbound dialing fall by the wayside as more and more people don't pick up for phone #'s they don't recognize, nor answer door knocks where they don't recognize the door knocker because of smart door bells?

Live TV transfers came on the scene to overcome these new obstacles just mentioned. Much more efficient and allows us to get more presentations in a 40 hour work week.

Your ex of a pharmaceutical sales rep is a good analogy. Industries evolve over time and the FE industry is no different. I still predict AI wil be taking live transfers in the future, when they can mimic a human being perfectly.

But wait! JD will be up here shortly saying that we're talking about the sky is falling and we're talking about the doomsday for FE agents...lol.

Ran into a brand new SL M,72,T, 6k with accidental for $65 a month.

Best I could do was Am Am without accidental for $67.

Greg maybe onto something ?

Who can beat him ?

 

[rmhaire]

Ran into a brand new SL M,72,T, 6k with accidental for $65 a month.

Best I could do was Am Am without accidental for $67.

Greg maybe onto something ?

Who can beat him ?

Almost anybody.

Three lowest are Mountain, Standard L&C and LifeShield. $51.84, $53.44 and $54.66.

And another 4 or 5 before you get to AmAm.

 

[DonP]

Lifeshield$54 a month . He must have been in incredible health with sl . That must be super duper preferred

 

[noah]

Lifeshield$54 a month . He must have been in incredible health with sl . That must be super duper preferred

How much is KSKJ ?

 

[DonP]

How much is KSKJ ?

Same

 

[jdeasy]

Same

Actually if they qualify for that best rate with SL they qualify for KSKJ FU. So that would be $40/mo for the $6K. But I would offer him $10K for the same money he's paying.

 

[theinsuranceman]

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.

I agree with your prediction on outbound telesales. However I'm talking about inbound live transfers.

 

[theinsuranceman]

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?

That is correct.

 

[theinsuranceman]

Jd you'll be my first recruit . Tv leads so expensive because viewership dying . By the millions people cutting the cord . When I see 100's of my clients showing up on my Facebook as possible friends I know the future . These are people that are uneducated. What happens when the all the people 40-50 are 60-80 ? All digital leads .The next future more use of software to block unknown calls . Some of my clients have and I can't get in touch with them . Dm as we know it will be obsolete generally speaking in 10 yrs . With the crazy speed of technology were heading to a world of screening unwanted contact .

I believe it's mostly the 55 and younger cutting the cord. Seniors not so much. But when the TV commercials run on local tv, and not cable etc, then the commercials are not cut and continue to be seen by the senioirs.

 

[DonP]

I believe it's mostly the 55 and younger cutting the cord. Seniors not so much. But when the TV commercials run on local tv, and not cable etc, then the commercials are not cut and continue to be seen by the senioirs.

It never ceases to amaze me how dead broke fe prospects making $800-$1200 a month almost always have cable or dish tv . Just crazy