Website-health insurance sales

[the producer]

My buddy started an independant agency selling health insurance. HE is part of a MLM organization . He struggled the first few years. He now tells me the biz is really taking off after getting a website. He says you would not believe how many people shop for insurance on the web. I guess all you need is a fancy site and some nice pics . If you build it they will come..ehhh?

 

[Dave020]

Certainly people use the web to shop for most things today.

That being said, most health insurance web sites attract a significant number of tire kickers and people with serious health issues who are declines.

 

[MHart]

Most people get into this industry with the theory that all I have to do is put up a website and I won't have to work they will run a quote and apply without speaking to me. The truth is it can happen but usually takes a lot of work with SEO work and or pay per click.

I wouldn't put all your eggs in a basket. There are way to many underwear agents out there. The only way to make it in this business by hardwork. Not putting up a website by itself and thinking you are going to make a living.

 

[Delta76]

The only way to make it in this business by hardwork.

Now you tell me, guess I should have gone into the mortgage business two years ago instead of insurance.

 

[Dave020]

The only way to make it in this business by hardwork.

Word

 

[careerchanger]

Newbie question: If I do put up a website, is it possible to make a good living by doing the following: Doing everything under the sun to drive traffic to my website like putting out door hangers, flyers & signs. Also, do some type of telemarketing myself or buying telemarketing leads. Will that be enough to make a good living?

 

[somarco]

You can make a good living by working smart, or working hard.

Working smart is a lot easier.

 

[careerchanger]

Somarco, can you advise me about leads. Is it a good idea to buy leads? I have seen the info about Norvax & PZ. If Im willing to spend the money, is the investment (ROI) worth it?? I've used telemarketing leads before with decent results, but NOT in this business. What else should/could I be doing?? Thanks for your input / advice.

 

[J.R.]

Somarco, can you advise me about leads. Is it a good idea to buy leads? I have seen the info about Norvax & PZ. If Im willing to spend the money, is the investment (ROI) worth it?? I've used telemarketing leads before with decent results, but NOT in this business. What else should/could I be doing?? Thanks for your input / advice.

I don't want to sound harsh, but you're asking the wrong type of questions. It's one thing to ask for feedback, but it's an entirely different thing to ask question that you already know the answer to. You need to start thinking like a business owner and learn about marketing and financial metrics. I find decision trees to be very helpful.

The only reason you should buy leads is if you want do not want to put the time and energy into generating your own leads. You also want to make sure that you understand and use appropriate ROI formulas such; ROI, COA, CLV, ROE, etc.

Draft up a marketing and business plan, READ, READ, READ, and implement it. Then measure your results per month, quarter and monthly.

You might find this book helpful Amazon.com: Marketing ROI : The Path to Campaign, Customer, and Corporate Profitability: James D. Lenskold: Books

 

[Paradigm]

Insurance Trade School Lesson 1: Metrics

if you close a minimum of 1/10 good leads

and you buy 100 a week

You will make 10 sales a week

lets say avg of 3000 AV @20%= 600.00 assume 75% one year persistency

that would be 4500 a week (50) = 225,000

investment 35,000 if leads are 7.00 and we assume all leads are good or replaced with good leads

Net income is 190,000

or 542% ROI

Class Dismissed