So Here’s My Plan…Your Advice Please!

[ComeCorrect]

As you may or may not know, I’m a rookie health agent and I have decided to focus on selling IFPs. My funds are pretty limited so I’ve decided that I need to start by telemarketing with a goal of spending 6 hours a day on the phone using a purchased list and a dialer. According to this forum, this should result in about 2 applications a day. Eventually, I would like to look into hiring a telemarketer but I wanted to get the experience myself so I know what to realistically expect from a telemarketer. I’ve noticed that just about all of the pro’s here use Norvax (or some other type of quoting software) and have their own website. Since my funds are so limited, I need to know how hard it would be for me to operate without either of those initially. I don’t mind spending money if it is going to be an asset to my business but I just can’t afford it right now. Any advice is greatly appreciated, whether it’s on my daily plan, operating without a website or quoting software or anything else.

 

[moonlightandmargaritas]

I’ve decided that I need to start by telemarketing with a goal of spending 6 hours a day on the phone using a purchased list and a dialer. According to this forum, this should result in about 2 applications a day.

What? I hope you're not seriously building a business plan on that number.

Maybe 2 a week is more like it - and that's a s t r e t c h for a rookie agent!

Instead of the expense of Norvax, a website, etc., BUY SOME LEADS. If you don't find some clients/applications/revenue, it's all going to be moot in short order anyway...

 

[ComeCorrect]

Unfortunately, I don't have the money to fund buying weeks of leads while I'm waiting on my business to build momentum. Thats why I've decided to take the telemarketing route.

So 30 hours of telemarketing should only result in 2 applications a week, huh? Thats interesting because based on what I've read it should be more than that. If thats the case, why would anyone telemarket? I know that it will take me time to ramp up but 2 a day would be my ultimate goal.

 

[moonlightandmargaritas]

Unfortunately, I don't have the money to fund buying weeks of leads while I'm waiting on my business to build momentum. Thats why I've decided to take the telemarketing route.

How much are you spending on lists/dialer? That money could be better spent on leads.

Your business will take a lot longer to gain momentum telemarketing than it will buying leads.

So 30 hours of telemarketing should only result in 2 applications a week, huh?

If that.

Thats interesting because based on what I've read it should be more than that.

Believing everything you read can be very dangerous. But what do I know? I've only been doing this for eighteen years in April...

If thats the case, why would anyone telemarket?

Good question. Probably because they don't have a well thought out marketing plan.

Hard work, while necessary, is insufficient.

 

[ComeCorrect]

How much are you spending on lists/dialer? That money could be better spent on leads.

$200 for the dialer $99 for the list.

 

[SportsNut]

Unfortunately, I don't have the money to fund buying weeks of leads while I'm waiting on my business to build momentum. Thats why I've decided to take the telemarketing route.

So 30 hours of telemarketing should only result in 2 applications a week, huh? Thats interesting because based on what I've read it should be more than that. If thats the case, why would anyone telemarket? I know that it will take me time to ramp up but 2 a day would be my ultimate goal.

Given your budget constraints, I wouldn't even spend the $$$ on lists or a dialer... shoe leather is cheapest... you've already got shoes, right...

GOYA... Get off your kesster and go STP... see the people.
If you are out all day... 10 hrs each day... for 4 days per week and saw an avg of 10 ppl an hr... combo of flyers and face to face chats, you will have had 400 touches. That has to result into something tangible... if at the end of 4 days you don't have enough ppl to quote and set selling appts, (which I find impossible), then continue on with cold calls... What I think you will find, if you dedicated a month to this activity is that by the 3rd week you will have enough leads that you won't have time to do 4 days of cold calls, maybe only 3... with 2 days of selling. But there are more than 5 work days in the week... you can cold call on Sats too..

By the end of the 4 weeks you should have some funds to invest in leads, or a dialer, or both... In the process you will learn lots about yourself too... just how bad do you want this gig... No excuses, get out there and get it.

 

[Franz Kafka]

Given your budget constraints, I wouldn't even spend the $$$ on lists or a dialer... shoe leather is cheapest... you've already got shoes, right...

GOYA... Get off your kesster and go STP... see the people.
If you are out all day... 10 hrs each day... for 4 days per week and saw an avg of 10 ppl an hr... combo of flyers and face to face chats, you will have had 400 touches. That has to result into something tangible... if at the end of 4 days you don't have enough ppl to quote and set selling appts, (which I find impossible), then continue on with cold calls... What I think you will find, if you dedicated a month to this activity is that by the 3rd week you will have enough leads that you won't have time to do 4 days of cold calls, maybe only 3... with 2 days of selling. But there are more than 5 work days in the week... you can cold call on Sats too..

By the end of the 4 weeks you should have some funds to invest in leads, or a dialer, or both... In the process you will learn lots about yourself too... just how bad do you want this gig... No excuses, get out there and get it.

You could be a complete moron and still make it (big) if you put that many hours on your shoes. People are much more receptive and "courteous" than they are on the phone. The only problem I have with it is IBS.

 

[moonlightandmargaritas]

How much are you spending on lists/dialer? That money could be better spent on leads.

$200 for the dialer $99 for the list.

Three hundred balloons will buy you about thirty decent IFP leads.

For a new agent, there's probably two to three issued apps in there. Your $300 gets you maybe $1,400 to $2,100 in first year commissions - a four+ to seven hundred percent return on your investment.

Rinse, dry and repeat.

When you telemarket, you are looking for a needle in a haystack. When you buy some leads, you've cut the curve immeasurably, talking with people who have shown some level of interest.

Much shorter sales cycle!

 

[SportsNut]

The only problem I have with it is IBS.

IBS = Irritable Bowl Syndrome...

 

[CPACINS]

One thing that I have learned in my 7 months in the biz is this...you need money to make money or you need to beat the street and get some flyers out and talk to people. Usually, it takes both.