Senior Life leads the way

[Anonymous2021]

A few things here from a current agent with Senior Life:

1. The reason the mileage number is wrong is because when the prospect filled out the form for an Online Quote or talked to someone in the call center, either he/she did not include a valid zip code and/or area code.

2. When it comes to the Live Transfers & TV Leads, the more states you are licensed in, the better your chances are at grabbing one when it pops up. You HAVE to be quick, like 2-3 seconds quick, or else it'll be gone.

3. Another reason why you aren't seeing a good bit of TV leads or Live Transfer leads pop up is because a few months ago Senior Life began what's known as a "Tier System". In order to be in the tier-system (meaning you get first pick for about 5-10 seconds on ANY of the Leads-The-Way leads BEFORE the rest of the licensed agents in that lead's state have the opportunity to buy it), you HAVE to have at LEAST 11k ISSUED & PAID in AP for a month. The 1st of every month everyone's AP is calculated and the ones who have the most issued & paid business in each state are placed at the top of the list to get first chance to buy any lead from that state, and then it trickles down from there based on what you wrote the previous month...so the agent who writes 50k in AP in Florida will get WAY more opportunity to buy leads than the agent who only wrote 15k in AP in Florida.
I will tell you this: I had new agents get licensed in numerous states and their phones blew UP with Live Transfer notifications, I'm talking 30-40 PER DAY! It was great. NONE of my new agents wrote LESS than $5,000 per week, and then literally 2-3 weeks later they started the tier system just as the newer agents were getting used to the Live Transfers. Fast forward to now....the majority of those new agents are no longer with me because they went from 30-40 Live Transfer notifications PER DAY to roughly 4-5 per day and the lead cost was consuming up any commission that was being made and they just couldn't do it anymore.

4. As far as knowing when to be prepared to catch any Live Transfers....you'll never be able to time it out correctly. From MY experience, when you see 1 pop up, get ready for more because that means a commercial has just ran and people are calling in.

5. Finally, are the Live Transfer leads the "cream of the crop"? No. Are they better than Facebook or Online Quote leads? Absolutely. You'll still have, on average, a 20-25% closing ratio.

Best of luck to you!

 

[myinsurebiz]

Welcome to the Forum. Who are you?

A few things here from a current agent with Senior Life:

1. The reason the mileage number is wrong is because when the prospect filled out the form for an Online Quote or talked to someone in the call center, either he/she did not include a valid zip code and/or area code.

2. When it comes to the Live Transfers & TV Leads, the more states you are licensed in, the better your chances are at grabbing one when it pops up. You HAVE to be quick, like 2-3 seconds quick, or else it'll be gone.

3. Another reason why you aren't seeing a good bit of TV leads or Live Transfer leads pop up is because a few months ago Senior Life began what's known as a "Tier System". In order to be in the tier-system (meaning you get first pick for about 5-10 seconds on ANY of the Leads-The-Way leads BEFORE the rest of the licensed agents in that lead's state have the opportunity to buy it), you HAVE to have at LEAST 11k ISSUED & PAID in AP for a month. The 1st of every month everyone's AP is calculated and the ones who have the most issued & paid business in each state are placed at the top of the list to get first chance to buy any lead from that state, and then it trickles down from there based on what you wrote the previous month...so the agent who writes 50k in AP in Florida will get WAY more opportunity to buy leads than the agent who only wrote 15k in AP in Florida.
I will tell you this: I had new agents get licensed in numerous states and their phones blew UP with Live Transfer notifications, I'm talking 30-40 PER DAY! It was great. NONE of my new agents wrote LESS than $5,000 per week, and then literally 2-3 weeks later they started the tier system just as the newer agents were getting used to the Live Transfers. Fast forward to now....the majority of those new agents are no longer with me because they went from 30-40 Live Transfer notifications PER DAY to roughly 4-5 per day and the lead cost was consuming up any commission that was being made and they just couldn't do it anymore.

4. As far as knowing when to be prepared to catch any Live Transfers....you'll never be able to time it out correctly. From MY experience, when you see 1 pop up, get ready for more because that means a commercial has just ran and people are calling in.

5. Finally, are the Live Transfer leads the "cream of the crop"? No. Are they better than Facebook or Online Quote leads? Absolutely. You'll still have, on average, a 20-25% closing ratio.

Best of luck to you!

 

[titeye]

A few things here from a current agent with Senior Life:

1. The reason the mileage number is wrong is because when the prospect filled out the form for an Online Quote or talked to someone in the call center, either he/she did not include a valid zip code and/or area code.

3. I had new agents get licensed in numerous states and their phones blew UP with Live Transfer notifications, I'm talking 30-40 PER DAY! It was great. NONE of my new agents wrote LESS than $5,000 per week, and then literally 2-3 weeks later they started the tier system just as the newer agents were getting used to the Live Transfers. Fast forward to now....the majority of those new agents are no longer with me because they went from 30-40 Live Transfer notifications PER DAY to roughly 4-5 per day and the lead cost was consuming up any commission that was being made and they just couldn't do it anymore.

5. Finally, are the Live Transfer leads the "cream of the crop"? No. Are they better than Facebook or Online Quote leads? Absolutely. You'll still have, on average, a 20-25% closing ratio.

I'm not sure I understand everything you said, but trying to gain clarification.
1. If the mileage is incorrect due to the caller providing invalid zip or area code, would you recommend the purchase of that lead?

3. Many agents are writing $5000 on only 20 leads per week (4-5 per day).
a. How did you conclude that it was the reduction in the number of Live Transfers to 4-5 per day as being the reason agents are no longer with you?
b. How does a reduction in Live Transfer opportunities equate to an increase in lead costs, and
c. the consumption of their commissions made?

5. Assuming a 20% closing ratio on FB and Online leads, the agent would only need a total of 42 leads for the entire week to generate $5,000, instead of 40 Live Transfer leads per day. Plus, these leads are significantly cheaper. Yet, they left because the Live Transfer opportunities dried up. Again, how did you conclude that this was the reason for the exodus of new agents?

 

[NewbieNewbie]

Welcome to the Forum. Who are you?

His name is anonymous 2021.

 

[Swinsurance]

Guys thanks for the explanations

I'm curious about the tiered system - i mentioned earlier I was planning to use this as a small addition to what I already do.

Regarding live transfers - is it as simple as getting licensed in a few more states to be available for more live transfers? Right now I have two states and I see maybe 2-3 per day and that is inconsistent.

next up on the tier system - are the tiers reset each month or once you're in are you good? Same question on the contract increase…is it a monthly requalification?

again, thanks for the help.

 

[Anonymous2021]

I'm not sure I understand everything you said, but trying to gain clarification.
1. If the mileage is incorrect due to the caller providing invalid zip or area code, would you recommend the purchase of that lead?

3. Many agents are writing $5000 on only 20 leads per week (4-5 per day).
a. How did you conclude that it was the reduction in the number of Live Transfers to 4-5 per day as being the reason agents are no longer with you?
b. How does a reduction in Live Transfer opportunities equate to an increase in lead costs, and
c. the consumption of their commissions made?

5. Assuming a 20% closing ratio on FB and Online leads, the agent would only need a total of 42 leads for the entire week to generate $5,000, instead of 40 Live Transfer leads per day. Plus, these leads are significantly cheaper. Yet, they left because the Live Transfer opportunities dried up. Again, how did you conclude that this was the reason for the exodus of new agents?

1. Personally, I wouldn't IF I had other leads to work. Reason I say that is because in my experience, if the caller does not provide the call center with a valid zip code or ANY zip code, then chances are they just want a quote.

2. An agent who writes 5k per week off of only 20 leads is probably working in the field, not tele-sales.
a. My agents were working in telesales and buying Live Transfer leads every chance the could. They were averaging 5k/week doing so. When the availability of Live Transfer leads reduced for them due to the Tier System, their production decreased as well.
b. In my experience, the difference between working a Live Transfer lead compared to a Facebook Lead or Online Quote lead is significant because with a Live Transfer lead, the prospect wants to talk to you right now about life insurance. You pay $35 and within seconds you're talking to them. Anyone who has worked in this business for any length of time KNOWS how aggravating it is trying to get the person to answer the phone, return your call, or catch them at home. That's why on average, a fourth of all leads purchased (other than LT's) are never worked! So to answer your question, instead of my agents buying 5 LT leads and being able to talk to 5 people about insurance, they were now having to buy 3-4 TIMES that many FB leads or Online Quote leads in order to talk to the same amount of people (5)...that's why it was costing them MORE money which was eating up ANY commission they were making.

3. Keep in mind that a FB lead doesn't mean the prospect clicked an add on FB, filled out a form and submitted it. 90% of the time all they have to do is scroll past the ad and a lead is automatically generated and the information is pre-filled with whatever info they they have on FB and is sent out to purchase.
Online Quote leads are a LITTLE better, but 50% of the time the prospect is shopping around to get the most insurance for the cheapest amount. Plus, BOTH FB and Online Quote leads are primarily generated from people under 60 yrs old.

With that being said...An agent may buy 42 FB/Online leads for the week, but that DOES NOT MEAN they talked to all 42 leads..they prolly were only able to get 8-10 of the 42 to answer the phone. You'll need to buy, on average, 4 FB/Online leads in order to get 1 person to answer the phone.
Assuming a 20% closing rate on the leads SPOKEN to, an agent would have to purchase roughly 160 FB/Online leads, that are cheaper, in order to talk to 40 people, which is how many they would talk to if they purchased 40, more expensive, LT leads, in order to write 5k/wk:
160 FB/Online leads @ $25/each = $4,000 total lead cost
40 LT leads @ $35/each = $1,400 total lead cost

That's why.

 

[Anonymous2021]

Guys thanks for the explanations

I'm curious about the tiered system - i mentioned earlier I was planning to use this as a small addition to what I already do.

Regarding live transfers - is it as simple as getting licensed in a few more states to be available for more live transfers? Right now I have two states and I see maybe 2-3 per day and that is inconsistent.

next up on the tier system - are the tiers reset each month or once you're in are you good? Same question on the contract increase…is it a monthly requalification?

again, thanks for the help.

Yes it is as simple as getting licensed in more states to get the opportunity to receive more LT's. I recommend NO LESS than 10 states IF you want a fighting chance with LT's.

From my understanding, the tier system is reconfigured on the 1st of every month and placement is based on total Issued & Paid business from the previous month.
On the contract qualification, I think it's looked at every 2 months. Once your commission increases, it can not decrease if you could not maintain the amount of issued & paid business that GOT you the commission increase in the first place.

Hopefully that answered your questions.

 

[Swinsurance]

Yeah that's great I appreciate the answers

again, I'm not new to this world and I fully understand the challenges and how much it takes to work all types of leads, from bangin direct mail doors to trying to reach someone on the phone from an online quote or fb lead.

but having the ability to accept a handful of live transfers while I'm on vacation and pay for my entire trip sounds good to me. Pretty cool system really.

Any suggestions on states to get licensed in? Senior is based in Atlanta correct? Any extra regional attention because of that?

 

[Baseball7]

Dont over think it, buy leads & work.

 

[titeye]

1. Personally, I wouldn't IF I had other leads to work. Reason I say that is because in my experience, if the caller does not provide the call center with a valid zip code or ANY zip code, then chances are they just want a quote.

2. An agent who writes 5k per week off of only 20 leads is probably working in the field, not tele-sales.
a. My agents were working in telesales and buying Live Transfer leads every chance the could. They were averaging 5k/week doing so. When the availability of Live Transfer leads reduced for them due to the Tier System, their production decreased as well.
b. In my experience, the difference between working a Live Transfer lead compared to a Facebook Lead or Online Quote lead is significant because with a Live Transfer lead, the prospect wants to talk to you right now about life insurance. You pay $35 and within seconds you're talking to them. Anyone who has worked in this business for any length of time KNOWS how aggravating it is trying to get the person to answer the phone, return your call, or catch them at home. That's why on average, a fourth of all leads purchased (other than LT's) are never worked! So to answer your question, instead of my agents buying 5 LT leads and being able to talk to 5 people about insurance, they were now having to buy 3-4 TIMES that many FB leads or Online Quote leads in order to talk to the same amount of people (5)...that's why it was costing them MORE money which was eating up ANY commission they were making.

3. Keep in mind that a FB lead doesn't mean the prospect clicked an add on FB, filled out a form and submitted it. 90% of the time all they have to do is scroll past the ad and a lead is automatically generated and the information is pre-filled with whatever info they they have on FB and is sent out to purchase.
Online Quote leads are a LITTLE better, but 50% of the time the prospect is shopping around to get the most insurance for the cheapest amount. Plus, BOTH FB and Online Quote leads are primarily generated from people under 60 yrs old.

With that being said...An agent may buy 42 FB/Online leads for the week, but that DOES NOT MEAN they talked to all 42 leads..they prolly were only able to get 8-10 of the 42 to answer the phone. You'll need to buy, on average, 4 FB/Online leads in order to get 1 person to answer the phone.
Assuming a 20% closing rate on the leads SPOKEN to, an agent would have to purchase roughly 160 FB/Online leads, that are cheaper, in order to talk to 40 people, which is how many they would talk to if they purchased 40, more expensive, LT leads, in order to write 5k/wk:
160 FB/Online leads @ $25/each = $4,000 total lead cost
40 LT leads @ $35/each = $1,400 total lead cost

That's why.

I don't understand why you are Anonymous, but I don't need to understand why you do what you do. I say that because your response was straight forward and direct. No chaser. No BS. No sales talk. No beating around the bush. I respect that and now understand what is needed to be successful in that system.
I am quite certain your agents appreciate your honesty, as I do. As a result, the ball is now in their court, knowing the reality of just how many leads are required, the expense of those amount of leads, and the outcome they can expect.
Mad respect for that response!

Thanks!