Selling small group (2 to 9) via internet/telephone

[arnguy]

Great posts, Bob. I certainly am going to implement your method of working that small group market. I have had some groups that have stayed on the books for 20 years. Although the commission rate is smaller than IFP, the persistency rate is much, much higher. Most of the time the drop outs have been because the firm went out of business for different reasons and/or the death of the owner/proprietor. However, the renewals are like an annuity. My main concern is that as I have to travel farther and farther out in the Delaware Valley area, the cost of gasoline is a huge negative. I hope that I can replicate your success with your methodology. Thanks very much for your input.

 

[NewHealthStrategies]

Where do you find your frogs?

I hang out at the strip clubs down by the Federal prison in the ATL... they're everywhere!

 

[bobson]

Oh, and here's my script: (I don't mind sharing, since you guys don't want to fool with this market)

This is Bob Levine, I saw your company name and phone number on the Gwinnett new business listing. The reason for my call was simply to introduce myself, and to find out about your company.

I'm an insurance agent, and I work SPECIFICALLY with small business owners. I seriously doubt you were sitting by the phone, hoping an insurance agent would call.

Can you tell me a little bit about your business?

Do I have your permission to stay in touch on a monthly or quarterly basis?

Thank you. I'll let you get back to work.

And then you follow up how???

 

[Bob_The_Insurance_Guy]

I follow up same as any other follow up. If I don't hear from them in a day or two, I call back. Or, if in the course of our conversation, they tell me when to call them, I do. Or, I ASK when a good day and time would be to follow up.

Not that difficult.

Or, I send them an E-newsletter or announcement via Email Marketing Software Solution - EliteEmail

Or, I send them an invitation to participate in a Web Conference I am conducting on Homepage - Vyew - FREE Anytime Collaboration and Live Conferencing™

 

[arnguy]

I follow up same as any other follow up. If I don't hear from them in a day or two, I call back. Or, if in the course of our conversation, they tell me when to call them, I do. Or, I ASK when a good day and time would be to follow up.

Not that difficult.

Or, I send them an E-newsletter or announcement via Email Marketing Software Solution - EliteEmail

Or, I send them an invitation to participate in a Web Conference I am conducting on Homepage - Vyew - FREE Anytime Collaboration and Live Conferencing™

More great information. Thanks again, Bob.

 

[ABC]

2-9 you can write over the phone all day long.
I have alot of clients that fall into this demographic.
I have written most of them over the phone.

Now if the client grows and gets to say 15-25 lives you better get out there to meet them and build a relationship.

 

[Delta76]

2-9 you can write over the phone all day long.
I have alot of clients that fall into this demographic.
I have written most of them over the phone.

Now if the client grows and gets to say 15-25 lives you better get out there to meet them and build a relationship.

Personally, I just don't understand why the 2-9 group is so shunned. Let's say I build to 100 groups averaging just five lives. That would be 500 employees covered, or in my state, $115,000 level renewals each year. As far as service, there would be on average 8 renewals each month. Very doable. The level commissions are great, but the real value of developing a relationship with these small groups is the opportunity for other business with the owners and their employees.

I'm not against groups over ten, trust me! In fact, I think the 10 to 20 market is a sweet spot and the work load is about the same, sometimes even less, than the micro groups.

 

[arnguy]

Personally, I just don't understand why the 2-9 group is so shunned. Let's say I build to 100 groups averaging just five lives. That would be 500 employees covered, or in my state, $115,000 level renewals each year. As far as service, there would be on average 8 renewals each month. Very doable. The level commissions are great, but the real value of developing a relationship with these small groups is the opportunity for other business with the owners and their employees.

I'm not against groups over ten, trust me! In fact, I think the 10 to 20 market is a sweet spot and the work load is about the same, sometimes even less, than the micro groups.

I agree. Just looking for a better way of doing it.

 

[ABC]

2-9 you can write over the phone all day long.
I have alot of clients that fall into this demographic.
I have written most of them over the phone.

Now if the client grows and gets to say 15-25 lives you better get out there to meet them and build a relationship.

Personally, I just don't understand why the 2-9 group is so shunned. Let's say I build to 100 groups averaging just five lives. That would be 500 employees covered, or in my state, $115,000 level renewals each year. As far as service, there would be on average 8 renewals each month. Very doable. The level commissions are great, but the real value of developing a relationship with these small groups is the opportunity for other business with the owners and their employees.

I'm not against groups over ten, trust me! In fact, I think the 10 to 20 market is a sweet spot and the work load is about the same, sometimes even less, than the micro groups.

With a 100 groups at that size your looking at about $200,000+

 

[Delta76]

With a 100 groups at that size your looking at about $200,000+

Maybe I need to move, cause here it's $115,000.