Vimo live transfers

[Delta76]

Here's my thoughts on VIMO live transfer so far, but first the stats:

4 leads so far for a total of $140. Closed 1 out of 4 (one still on the fense, but experience shows it probably won't go). Commission on the one closed sale equal to $180.

-In my state, Minnesota, I can't profitably pursue these leads. The same application at 15% would have netted $540 or at 20%, $720 (Chumps, don't cry to me on your Ohio commissions). And somehow, the current bid is $44 per call in my state.

-I am licensed in a profitable state and did get 2 leads from there, but neither went anywhere. I could quit using VIMO in Minnesota and focus on my other state, but I still have one concern, these aren't business owners. I don't see these sticking on the books for a long period of time.

-Last, even though they called to talk with you, they aren't necessary exclusive. The lady I took the app from last night also contacted ehealth and another lead source. I got the sale because I was local.

It will be interesting to see how the numbers work out. For now I've lowered my bid to the point where I won't get many calls, but it should be profitable if I do get a few.

 

[Expat]

I know this may be hard to believe, but I close about 1 out of every 11 leads.
A few caveats:
I stick to local leads 92% of the time (within an hour of the office) The other 8% are Pa.
I make sure no more than three other brokers getting lead
I send a hard copy of the quote in the mail
Not all of the sales occur during the first 30 days. Some actually buy a policy up to 90 days down the road
And unfortunately...my average commish per sale is undoubtedly lower than just about every person on this Board (combination low Ohio rates and GA cut).

Chumps, am I right in assuming that 1 out of 11 includes the ones you are unable to contact, and include the credits?. Or in other words around one third of the people you actually speak to.

 

[CHUMPS FROM OXFORD]

Hi Expat...Actually...the 11 does not include credits, which probably are another 2 or 3.

Of the 11 (remember...these are all local)...I end up talking to about 4-5 and selling a little less than 1. That average bumps up to 1 when you take into account the ones (not very many) that I write months later.

I have to emphasize that I try to keep my competition down by requesting zip codes with less than three other agents. And I warn the heck out of these prospects to not buy from an out-of-town agent.

And just to clear the air, I have nothing against the brokers that sell in multiple states. I would too if I could ever figure out web site design and search optimization.

Delta-I figured there were very few states with rates lower than Ohio.

 

[vimo]

Here's my thoughts on VIMO live transfer so far, but first the stats:

4 leads so far for a total of $140. Closed 1 out of 4 (one still on the fense, but experience shows it probably won't go). Commission on the one closed sale equal to $180.

-In my state, Minnesota, I can't profitably pursue these leads. The same application at 15% would have netted $540 or at 20%, $720 (Chumps, don't cry to me on your Ohio commissions). And somehow, the current bid is $44 per call in my state.

-I am licensed in a profitable state and did get 2 leads from there, but neither went anywhere. I could quit using VIMO in Minnesota and focus on my other state, but I still have one concern, these aren't business owners. I don't see these sticking on the books for a long period of time.

-Last, even though they called to talk with you, they aren't necessary exclusive. The lady I took the app from last night also contacted ehealth and another lead source. I got the sale because I was local.

It will be interesting to see how the numbers work out. For now I've lowered my bid to the point where I won't get many calls, but it should be profitable if I do get a few.

Don't let the high bids fool you. You're playing the system the right way. Most of the highest bids never pick up the phone, so place your bids where you are comfortable and I bet you'll still get call volume. We track broker pick-up rates also, so if you answer the calls more frequently than your competitors, you'll leapfrog them in priority (regardless of your bid price).

 

[STIBROKER]

Ok Scott....how come I can not get a live transfer up till 11pm here in Texas....your operators are taking calls ....I checked......I keep getting we are working on it...were are theses calls going if my limit is till 9pm....

 

[vimo]

That's a good question. I thought our CSR's were off duty around 10pm. If our CSR's don't get the calls, then they go into voicemail currently. We then dial outbound in the morning and transfer the folks we reach.

We also have a call center that is taking some overflow calls. I'll check w/ the team and see if I can get you some more details.

 

[sunmed]

Last year I tried the live transfers and had some success, but not as much as I would have expected. It still made me money and all I had to do was answer the telephone. I found a lot of the leads generated had no money or checking accounts. However, the few that I did, I wrote an app. Has anyone else been using them lately? I know that Vimo was going to implement a few more things in the beginning of 08'. Results from anyone or thoughts?

~Rick

 

[CHUMPS FROM OXFORD]

My bid price is low so I have received just one call. They hung up before I could talk to them so I was not charged for the lead.

 

[Delta76]

I've decided to abandon the live transfers for a couple reasons:

1. There not business owners. My clientel is about 90% business owners and that's who I prefer to work with. I'm concerned about the persistency on the VIMO cases I sold.

2. My last three calls, after the 18 or so health questions were suppose to be asked were immediately disqualified due to medical conditions. One gal had been disabled from work for 1 year because of severe depression.

3. They overall weren't profitable in my state. For the time spent and the type of client gained, my calling is a more profitable activity.

 

[Colorado Newbie]

I was with VIMO for about 2 moths before I dropped them

1. it seemed like every lead I was getting lived all in the same trailer park here in Colorado.
2. Vimo live sounded like an awesome product until my first few calls were from people that lied out of their asses juts to talk to me and hear the same thing the last 10 agents told them. "sorry but brain cancer within 6 months is going to be declined" You get the jist.
3. After complaining to my VIMO rep about all of this told be to put everything on hold for a few weeks. He said that everyone in the office was aware of the situation and they were working to fix it. Truth be told he almost sounded like he was trying to say run away while you can. The following week I called him and he no longer worked there. hmmmmm
4. To sum it all up it sounds like they know there is an issue yet they continue to sell their low end product as though it were the best damn thing since the wheel.