The I Love Selling FE "February to Remember" Thread

[KRobby]

So...an update. But for this update we'll go back to the beginning. I didn't do the buy leads for $35 each thing. I did the direct mail through Targetleads. I figured (and so did one of my uplines) that there's only so may ways to word a final expense mail in card right? Right? So let me say right now I don't think it was the card or the wording on the card. My other upline told me they already had someone working the area I was planning on mailing to and that they were pretty sure there was maybe two others also mining the area.

Did I listen? No. Why? Because the area they told me to mail to was an hour and a half to two hours from where I live. So..I mailed to an overly mailed area. It could be my lack of appointments, lack of sales, lack of people answering the phone all had to do with that.

Now for the really, really bad news.

Age Group Count Cost No. of Responses Cost per lead
50-62 2312 $902.59 14 $64.47
50-80 1640 $795.40 8 $99.43
50-80 1820 $882.70 4 $220.68
55-75 1861 $865.37 17 $50.90
55/75 2091 $972.32 24 $40.51

Yes...I spent $4400+/- and only got 67 leads. If I had gone with the $35 leads I'd have 126 leads. So a good bit of my problem is the same as ever...not enough people to talk to. Now...that being said I've still not been able to contact all 67 leads that I've got. I've got 37 leads I'm still actively working.

Of those 37...there's probably 10 that I should throw out as I've made contact and nothing seems to be happening.

Oh...and still no sales. My best "leads" so far seem to be for home and auto and Medicare. I got my P & C license last year and haven't done anything with it. I've started teaming with a independent P & C guy I know. I get the information, he does the quotes and servicing and we split the commissions. So it's just a little side thing that I put no effort into...I'm not looking for you to lecture me on that so just keep it to yourself.

It's not the wording on the card that differentiates a lead house.. it's the mailing list they use, among other things.

 

[jerryrut]

I don't claim to be an expert on anything but a couple of things do jump out to me. It's damn near impossible to get that many leads and have so little success. You may need to rethink your demographics because they don't always work the same in different areas. You may want to work more closely with one of the more successful guys to get your approach and presentation straightened out, you're obviously doing something wrong. You may not be contracted with the right companies for your area. FE just might not be your cup of tea, it's not for everybody, no shame in that.

 

[benneaf]

So I just wanted to post a follow up to close up my February to remember series. Lessons learned...1. I couldn't get people to answer the phone so I started door knocking. I tried Dave Duford's 3 ring technique. I tried different times of the day and/or week. I just didn't get much response on the phone. Door knocking is a pretty relaxed activity. Just map out your route. Most people are nice, polite, etc. So...phone just didn't work for me. 2. You gotta be willing to work evenings and/or weekends if you are mailing to a lot of people under the age of 65 (which I was). I do work evenings occasionally, but I don't like it. I've got kids in school and I need to be there to help with dinner, homework, etc. 3. When I did get people at the door I was pretty rough in my presentation. I finally thought about my Medicare presentation which is pretty dialed in. I use a one pager that shows a Medicare flow chart and a chart of the supplements. So after experimenting for a while I put together a one pager for final needs insurance. It's pretty basic, as it's not a complicated product, but I felt more at ease and my appointments (my door knock meetings) seemed to go smoother. 4. Eventually I just went back to my old business of Medicare and it's been going great actually. With my renewals kicking in and new sales I'm set to double last years gross income. It was probably good to experiment with a "new" product focus and I've learned a ton about insurance sales in general by watching Dave Duford's video's and some from Chris Westfall. Six years into the business and I've really just started understanding what it takes to make a good living in the business. Here's to the future. Good luck everyone.

 

[benneaf]

Attached is the little one pager I made up. I'd massage it a bit more if I was going to further pursue FE sales.

 

[jerryrut]

Going back to the Medicare side of things, it honestly sounds like you need some training and to also not focus on T65s. You would probably do better with ages 67 and up.

Why is T67 better than T65?

 

[Northeast Agent]

"Caskey and vault"

 

[Rob Lion]

Why is T67 better than T65?

People are just now seeing rate increases.

 

[goillini52]

Attached is the little one pager I made up. I'd massage it a bit more if I was going to further pursue FE sales.

You spelled casket, "caskey". Is that a casket with whiskey in it?

 

[Northeast Agent]

Is that a casket with whiskey in it?

I thought of whiskey, too! But I'm always getting yelled at for having a smutty mind.

 

[KRobby]

Attached is the little one pager I made up. I'd massage it a bit more if I was going to further pursue FE sales.

You were new to the market and made up your own presentation?