- 26,145
Good move.
Startup Costs For Telesales
- Thread starter affirmwealth
- Start date
Good move.
- 26,145
This is starting to sound like Conservatives and Liberals arguing their points to each other.
The STL annual meeting. In San Diego.
Details will follow soon I'm sure.
Details will follow soon I'm sure.
- 2,045
I read it a couple times and I'm still confused with your comparison. Are you suggesting identical closing percentages, calling from your home?
BarryNY
Guru
- 271
Not exactly KRobby.
We have to define what we're using for the numerator and denominator to get to the percentages....to compare. But the "hard numbers" after applying the percentages are what we're interested in....so I want to break it down another way cause the bean counter in me sometimes takes some shortcuts...
F2F gets 12 leads in from people who responded to the marketing (DM return/telemarket appt, etc) that are all "interested" in seeing someone. I'll assume that ALL 12 will let you in the door either by pre-set app't or a door knock - that's a "nice" 9 hour day of appointments. I said on avg. you'll close 2 of them = 2/12. That's approx 17% closing percentage of the 12 leads purchased. Would you agree, that by seeing and presenting to 12 prospects - that closing 2 of them is "reasonable"? Could a super star close another one or 3/12 - on a consistent basis?? I'm sure they can...
Tele-sales gets 40 leads dropped into their CRM - real time as they click the link. Of the 40 leads, you only get to talk to 20. Of the 20 after weeding out the dreck you only close 2 this was over the course of 4 hours. That's just a 5% closing percentage of the 40 leads purchased. And it's a 10% close of the leads spoken to and a 17% close of the "real" prospects. Does this make better sense? I apologize for short cutting to the bottom line in my last post...
FYI: Buy 100 tele-sales leads = a 5% close (5/100) for beginner. It's an 8%+ close (8/100 deals+) for experienced. These are PROVEN close rates directly out of the CRM. No BS here. No dispute.
Now if we can agree on these closing percentages - here you go...........
YES f2f will close at a higher percentage!!!
So then all we need to figure out is what was the cost to close them. You have the raw lead cost and your expenses.
AND - how much time did it take to close them???
The numbers work out below as I presented...
...12 "quality" f2f leads @ $35 = $410 gets the 2 deals or $210 lead cost/deal. On top of this you have all the car expenses for the day and the food expenses, etc etc. (you're not eating the food they're offering are you?)
...40 internet leads @ $10/avg = $400 (this is blended combo of real cost for 2 types of lead $7 and $11) gets the same 2 deals or $200 lead cost/deal. There's NO auto expenses, lunch is left overs from last night, no need for a dog walker, home to let repairman in or collect delivery, throw the laundry in for the wife, run a few errands if needed...etc etc. After the $600 investment in non-resident licenses for 2 years there's just the monthly costs. It's $40 for the VoIP phone.
This game is all about managing your lead costs / expenses while managing your time. I played this phone sales game big time but in a different industry.
You guys do not know me. I don't bullshit anybody about anything because honestly I don't give a f%#k what anyone thinks...ask my lovely wife...as it gets me into trouble all the time. I can prove to you anything I say... I spent tens of thousands of $$ each and every year on every kind of lead you could think of - in the mortgage industry back in the 2002-2005 heyday - . ALL my sales were over the phone. YES - you can gross well over a million $$ selling 100% by phone. YES it's hard work but financially rewarding. YES - I truly believe Anthony Martin grossed over a million $$ selling FE insurance by phone.
So at the end of the day what do we have:
The lead costs PER DEAL are EXACTLY the same.
The gross cash flow from each deal is EXACTLY the same.
The only difference is TIME and expenses. You cannot create more time. You cannot avoid basic expenses.
YOUR choice is to spend 9 hours to get to 2 deals face to face
OR
...4 hours to get to the same 2 deals by tele-sales.
Everyone has their own choice. I just cannot understand why anyone would work 9 hours to do what can be done in 4. Why anyone would sit in a house with (according to your own stories) fleas, bedbugs, roaches, cat piss couches, mangy dogs, etc etc. Why anyone would go on the road in all kinds of weather in and out of the car etc etc...
Can anyone tell me any different?
If your not in the south in Jan..Feb..Mar..are you really excited to get in the car for a 9 hour day in snow, slush, rain and freezing cold? And don't forget to take your wet shoes off before you step on their rug...
BarryNY
Guru
- 271
If my wife wants to go along...I'll be there...I'm not allowed to go to CA by myself...that's a story for another day....
Let's see:
$1,000,000 gross divided by 50 weeks (even Anthony takes some time) divided by 84 hours/week = $238/hour.
I broke it down that you'll gross $1,320 on the 2 deals for 4 hours = $330/hour. Let's call it 5 hours to be conservative so that gets you to $264/hour.
YES - I believe that it can be done. Work more hours make more money.
Tele-Sales - work 5 days @ 9 hours/day = 45 hours x Anthony's $238 = $10,710/week or $500K.
If I was under 40 - I'd be putting in the same hours as Anthony!
marc82much
Super Genius
- 244
What does STL mean to you? Here, it means St. Louis.
BarryNY
Guru
- 271
He's referring to Digital BGA's annual Tele-Sales Mastermind meeting. I think the first was last year - they had all the big names in Insurance Sales there - not just FE as Digital does both FE and Reg Life business
We did one two years ago in Austin. Last year's was just the first one that was promoted and it was much larger. The upcoming one should be even bigger.
- 17,073
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My dog's bigger than yours.
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