Vimo live transfers

Nov 29, 2007

  1. Crabcake Johnny
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    Crabcake Johnny Guru

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    Long time no post? Hey, whenever I have info that I think can benefit the agent community I'm gonna make sure I post it.

    First of all let's say this; anyone who knows me knows of my intense distain for internet leads. Hopefull this will make this post more powerful when I come on and actually tout a source. I also know the incredible level of frustration agents have trying to find "quality" leads.

    An extremely good buddy of mine called me last week and opened with "John, if you were in my state you wouldn't be getting this call." Then went on to tell and show me his results from the Vimo live transfers. I was stunned - he has consistently been closing 1 out of 3 and just today closed 2 out of 3.

    I bit - but with caution. I actually had some Vimo credits baking in my account from over a year ago. My 1st two calls were two sales. One 25 year old girl in VA who just got dropped from the parent's plan. My next one was a husband who went to put his wife and two kids on his company plan. We all know how that turned out.

    I've since got two more transfers - one's signing up tonight - have an appointment with the other one for Monday. Monday's deal is a done deal - tonight's could be flakey. There's simply no way I'm closing less then 1 out of 3. And to be frank, who cares if it's 1 out of 4 or 5.

    The scoop:

    *A prospect calls into Vimo and a rep then qualifes them - askes them health questions and the general scenario - then makes sure they want to talk to a live agent (I guess as opposed to a dead one.)

    *The call then goes to the top bidder. That agent speak to the Vimo rep, not the client and can get the Reader's Digest version of the prospect. You then pass or play. If you play you are connected.

    How it works:

    *You simply bid on the leads. As you see from my screenshot, you can see the bids. You don't necessarily have to be the highest bidder to get the call. I wasn't for my 1st two leads. The 1st person might not pick up or pass on the leads. However, as you see, I'm max bidder now for my three states. No one's gonna beat my bid:-)

    [​IMG]

    *You can set the times you want calls and also pause your account. You also pay as you go - per $100 transfers so there's no minimum and no contracts.

    This is ROI people. It's not about how much the lead costs, it's about how much the deal costs. So let's break it down:

    Shared leads:
    Close 1 out of 20 at $7 average price = $140
    So it's 140 to get a deal which is great ROI to return $700 commish on average
    How many pick up the phone out of 20? Let's use 5 (which is a pipedream but let's play fair)
    Speak to 5 people for $140 is $28. It costs you $28 to speak to someone
    So how many of those 5 were glad you called? Let's say 3 - the other 2 bitch you out for being the 3rd agent to call.
    3 happy people for $140 = $46
    And you'll close 1. So you're not really closing 1 out of 20. You're closing 1 out of very 3 people who actually wanted to talk to you.

    Although that's a fair scenario I painted let's keep it real. You're getting 20 shared leads and 10% pick up - or 2 people and you have zero to 1 sale...maybe, then proceed to pummel the other 18 with calls and emails.

    Even with all that said those 3 happy people are speaking to 2 or 3 other agents. With the Vimo tranfers they're exclusive.

    So it's not some "it's too good to be true" scenario where you're closing 1 out of 3 or 1 out of 4. You're simply cutting out all the BS and are on the phone with people who want help from an agent.

    So really, what will I pay for my phone to literally ring during the day? A lot. This is better ROI then my telemarketed leads with 1/10th the headache.

    So where's the ass kicking? Use $35 per lead as an average and $700 as average profit:

    $35 into $700 = 20. You'd have close 1 out of 20 live transfers to break even. In that case, hurry up and grab a job at Walmart - sales is not your calling.

    Close 1 out of 10? That's $350 to return $700 and your phone simply rings. Do that every day and it's $1,750 per week net.

    Senior agents will tear this up. However, this gives newer agents a fighting change since the leads are not shared.

    Interested? Call Justin at 650-230-0070
     
  2. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Welcome back John. I have been using VIMO for about three months now. There have been some recent issues, but they are quick to credit. I also use VIMO LIVE for local prospects.

    Similar results (closing 31%) although Ohio has such low rates, the commish is less.

    VIMO also offers some credits if you sign up.
     
  3. TXINSURANCE
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    TXINSURANCE Guru

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    Most of the callers are low income and uninsured, and we know that market all too well. You know when you quote $150 and they say "PER MONTH?" - I am only 54 and smoke, that is way too high...

    lol..

    Just start your bids low and work them up if it is a good fit for your company is my suggestion.

    Vimo as a company I have no problem with they are a class act - if this service is right for you or not - well that is something you need to try and find out, and yes it can be your most expensive advertising outlet and you better be on top of your game at $30 to $70 per call.

    If you are not used to SINGLE CALL CLOSING this is not your type of lead. If you don't close on the call, you are toast. Ask if they have a checking account right off the bat.

    If you can handle this type of call - go for it, check it out...
     
  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    I'll agree. If you're not on your A game you need to think about it. This is for people who know their products extremely well and are well established closers. This doesn't mean new agents don't have a shot - but I'd recommend some phone and sales experience. Regardless, if you don't have very sharp phone skills and know how to take clients from A to B to C you'll want to proceed with caution. I personally have not experienced low income but I'm sure it's coming. If I can close 1 out of 4 I'm still all over it. Again, at $30 a pop on average I'll pay $120 for a deal. I'm personally not seeing a scenario where ROI doesn't work out for me. What I won't do is call 20 leads, have 3 pick up and get bitched out by 2. I don't enjoy calling people who don't know I'm calling and don't want me to call. That's why I farm out telemarketing and am not a fan of cold-calling myself.

    I guess what can be discussed if if you're not sharp enough to close an exclusive prospect who's waiting on hold to talk to you, how well are you gonna fair fighting other agents for business. And if you're not willing to spend $30 to speak with someone how do you have the funds to spend $140 on 20 leads and only speak to 1 to 3 people? Also, shared leads are by far not income qualifed and you call those 20 shared leads and still get "$150 per MONTH?"

    I think this works very well with quote engines like Norvax - take 'em to your site and show 'em rates and plans. I'm taking people to my site while on the phone so they can run rates. It keeps them engaged when they're playing around with buttons instead of just listening to you. They obviously have a bit of time if they're waiting to speak to an agent.

    I disagree that is needs to be a one-shot-one-kill close. I've set two in-person appointments - closed the one this morning. The girl I spoke with yesterday was at work, I called her back at 1pm and signed her up online then.

    That being said, these are indeed people anxious enough to want to speak with an agent. Let's look at companies like Geico. Go call a Geico rep and see if they just want to email you stuff to review. Yeah...right. If they go over your scenario and can save you money they're taking the app right then. It's not gonna be "we'll email our brochure and call you back tomorrow."
     
    Last edited: Nov 29, 2007
  5. TXINSURANCE
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    TXINSURANCE Guru

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    I am sitting here reading this post and the phone rings.

    Just took a Live Call.

    Dallas.

    Had a checking account.

    Had a credit card.


    That was an easy sale.
     
    Last edited: Nov 29, 2007
  6. vimo
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    But at least you didn't spend three days chasing down that person just to find out that they have no credit card!

    Not every call is going to be perfect. We currently screen the big 5 medical conditions and will be screening about 15 to 20 more in the near future, but there will always be some leads that sneak through the cracks that aren't ready to buy or can't afford coverage. For every one lead that doesn't have a credit card, we've screened another 3 that had conditions so you didn't "waste your time" with them.

    The beauty of the system is that you can get 20 calls and have a great idea what your close rate will be. It's really easy to say "I want my acquisition cost to be no higher than $150 and I'm closing 1 in 5 VimoLive calls. I'll bid $30."

    You can place your bid and get the calls that are available at that price point.

    Our biggest issue is that we have trouble finding brokers that will consistently answer the phone and we lose the prospect during hold times. If the high bids scare you off, we're changing the game soon. If you have a high connect rate (meaning that you pick up every time we dial you) we'll give you more calls even if you aren't the highest bid.

    Lots of good stuff coming soon.
     
    vimo, Nov 29, 2007
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  7. TXINSURANCE
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    TXINSURANCE Guru

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    I will tell you guys one thing about Vimo - they are honestly a STAND UP operation, they are CONSTANTLY working on new features, and new ideas - best of all THEY DO listen to your suggestions.

    That goes a LONG way in this business.
     
  8. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    "Had a checking account.

    Had a credit card.


    That was an easy sale."

    Last edited by TXINSURANCE : Today at 10:43 PM.

    What happened? An hour ago, he had no credit card and no checking account and the lead was not beneficial. But I noticed the post was edited.

    Just curious.
     
  9. TXINSURANCE
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    TXINSURANCE Guru

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    Called back with checking / credit card, deal closed.

    All within a short period of time.

    You can never count a sale out at first glance - it does happen.

    I do recommend scaling your bids and giving it a shot, just don't go in with $80 bids until you have your stuff together.
     
  10. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    I still don't understand why Ohio bids are among the most expensive. Rates are very low, so the commish is lower.
     
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