Weekend Lead Generation / Sales Testing . . .

[myinsurebiz]

No 3 sales off of 500 so $166 a sale. Still a bad deal. Better returns using other lead sources. These are more expensive and I can't imagine being better than TV leads.

Why is that a bad deal? Made awesome ROI . . .

 

[NSRH]

Insurance Agents aren't the ones going D2D for the leads - using stay at home Mom's, Dad's, and High School / College kids.

Me and my buddy did it as a test. So - we couldn't let on we were Agents.

Have you looked in TV leads? The cost is lower, and the quality is likely better.

 

[myinsurebiz]

The man is talking about recruiting and doing business with people living in a housing project.


Thats enough nonsense. The man is talking about seeking out people who live in housing projects to do business with. You say "Fantastic" well guess again. That is the most stupid idiotic idea in the world. Nobody aspires to work with people in the projects. Nobody in their right mind I should say.

People in housing projects need FE too!

 

[Life Hawk]

People in housing projects need FE too!

Take the same approach and go to lower income housing area... have a back up accident and cancer plan with ROP and door knock the area. You can use the system 2 ways, do it today or collect follow-up info.

 

[myinsurebiz]

Dude! You're drooling on your keyboard!

I agree that better prospects are available than most in the projects.
But seniors living in projects are not usually what you're picturing. They're poor people, but not poor clients. No, don't sell FE to the single mom in her 20's. But the lady in her 60's on SS who lives next door will often be a great client.

Best idea, though, is just leave the projects to us debit guys!

Exactly . . .

This weekends test is with a regional Carrier that has an awesome debit product. Can be sold on ACH or Card automatically - but, has the ability to take cash and they have the phone swiper too.

Commissions on debit accounts are actually pretty sweet. Monthly renewals are 14% and for life . . .

 

[VolAgent]

Insurance Agents aren't the ones going D2D for the leads - using stay at home Mom's, Dad's, and High School / College kids.

Me and my buddy did it as a test. So - we couldn't let on we were Agents.

Yeah, but they still want to get paid to knock doors. And it sounds like you are wanting to do 65% commission to the agent with 6 month advance and no lead expense?

Maybe you can make the numbers work, I'm just not sure. Also, I don't know how scale-able it will be. Basically you are going to be limited by your ability to generate leads and ensuring the door knockers actually work.

 

[myinsurebiz]

If I remember correctly from a thread where he first floated the idea, the plan was to eventually pay somebody to canvass, then the licensed agent calls the leads. And I commend him for trying to find a way to solve the problem of dwindling supply and increasing over-saturation of other lead sources. But that price point is gonna have to come down to make it viable.

We separated the lead generation from the insurance sales.

Since we'll be captive - we won't charge the agents for the leads. Instead - we'll hold them accountable for a decent ROI. If they do - great. If they don't - then they'll have to work elsewhere or create additional volume to get the leads . . .

 

[rousemark]

Yeah, but they still want to get paid to knock doors. And it sounds like you are wanting to do 65% commission to the agent with 6 month advance and no lead expense?

Maybe you can make the numbers work, I'm just not sure. Also, I don't know how scale-able it will be. Basically you are going to be limited by your ability to generate leads and ensuring the door knockers actually work.

I am trying to figure out why the lead would cost $50 each.. If you are using non licensed people to door knock a list, you could pay them $10 per hour or so and should expect they develop at least 1 or 2 leads per hour..

 

[myinsurebiz]

I think if he simply taught agents to canvass and sell on the spot it would be more viable. But to pay someone to canvass and then try to have agents sell the leads, I just don't see how to make the numbers work. Once you introduce people who aren't as invested in it, the results will fall off.

I don't know about you, but me personally, I don't want to be canvassing in 100 degree heat in the south.

I think the Agents will be interested IF we can deliver quality leads for them to make plenty of sales in a climate controlled environment and make it fun . . .

 

[VolAgent]

I am trying to figure out why the lead would cost $50 each.. If you are using non licensed people to door knock a list, you could pay them $10 per hour or so and should expect they develop at least 1 or 2 leads per hour..

No idea, he hasn't shown us the math on that. I assume he will pay them per lead generated or maybe a base plus bonus per lead. Which also leads to, he will have trouble managing them.

He is going to need someone to ensure they are actually working and generating real leads, and again that is going to lead to an issue in scaling.

I really do applaud myinsurebiz for doing something. This idea probably did actually need a bit more thought first.