What would you do?

Jun 5, 2007

  1. agent007
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    agent007 Expert

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    Lets say you have $1000 for marketing purposes. What and how would you invest in order to get the most bang for your buck?

    1.Self mailers.
    2.Telemarketers
    3.Postcards

    MP is the product you would be selling. Also those 3 are just some options, if there are any others please chime in.

    Thanks
     
  2. salpro22
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    salpro22 Guru

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    1. Cigars
    2. Alcohol
    3. Pay per view

    Joking aside, I would take 50% and invest it in a few telemarketers and keep the rest as a reserve until your pipeline starts to build up.
     
  3. Frank Stastny
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    Frank Stastny Guru

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    I work the senior market. I would buy a list and start calling. Through experience with telemarketers, postcards, etc, I get the most out of doing my own prospecting.

    I can buy a list of a thousand for around $100. That will get me around 10,000 names, addresses and birth dates. After the list has been scrubbed I will have around 2,500 with phone numbers.

    Over the years I have become pretty good on the phone and have not really had a major problem setting my own appointments.
     
  4. SME
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    SME Super Genius

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    I'm an internet leads person so I would take $250 to one lead vendor, $250 to another lead vendor, and save $500 to try other leads later on. It may take a while to find a lead source that you like and that can give you what you want.
    If I was brand new to the insurance field and didn't know what kind of leads worked best for me then I would split the money. Try internet leads, telemarketed leads, and cold calling from a list then see what works best for you. Also talk to some of your carriers they may have matching funds for marketing, or yellow page ads. It'll make the dollar stretch further.
     
    SME, Jun 6, 2007
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  5. agent007
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    agent007 Expert

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    Thats a new one for me. I may call them to see what they can offer.
    Thanks
     
  6. SME
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    SME Super Genius

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    I know that in AZ Humana gave us a $600 yellow page ad and we only paid for $168 of it. Once with BCBS NM I did mailers and that was a great deal. It was something like 1000 mailers that they had designed and printed with your info they provided the list, but you got to select the target area and demographics and the cost was minnimal. The cards even had that tear off end that could be mailed back for more information. It was a pretty sweet deal, and you could do it every 3 months as long as you had decent production with them.
     
    SME, Jun 6, 2007
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  7. Insurance Phoenix
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    Insurance Phoenix Super Genius

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    A Small Budget?

    I would invest the entire budget on leads. If you need to try four or five to find one you like, fine. But leads are about the best thing going.

    Insurance Phoenix / Arizona Auto Insurance

     
  8. agent007
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    agent007 Expert

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    Now when you say leads, are we talking from a lead source and cold calling them or what.

    I do want to turn this capital into potential leads, just not sure which way to go.
     
  9. bluemarlin08
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    bluemarlin08 Guru

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    007,
    If you are selling MP, and you have competitive companies i.e. Banner, AIG, Genworth, ING, West Coast, Pru etc etc, I would buy internet leads for term insurance and MP. I get about 5 to 7 return on my investment, but I use local leads and been around awhile. I sell all by phone and never even meet the folks, I'm sure I could make additional sales if I did meet, but real busy. I have had a very good relationship my company for the past 2 years. You want a company that has a good bad lead credit program
     
  10. agent007
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    agent007 Expert

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    Yes bro, I am selling MP. AIG, Gen, Americo, Fid Life, and a few others that I can write through.I mostly go and see the ppl, but am working on trying to limit that as much as possible. I have never boght internet leads, who would you suggest to look into. I used to work for an IMO and he did nothing but lead card mailers. Not sure what the response rate was say out of every 1000 or so. Thats what I am afraid to do, spend money and not get many back.But it worked for his organiztion though. Just not sure which way to go without losing more than I have.