7 tips to increase final expense sales results
In today's article, we're going to talk about easy and actionable ways in which you can measurably increase your final expense sales activity.
The following tips are all designed to hit on things that many agents don't do but should. They serve as a reminder of things that you can do and continue to do to increase your sales, but also as a tool for the agents who are relatively new and are looking for the big picture stuff to change up in order to see a measurable increase in results and sales.
I believe in the Pareto Principle and how it applies to everything in life. If you're not familiar with the Pareto Principle, it means that 80% of your results come from 20% of your actions. Identifying one or two of the items in this article, and implementing them on a large-scale basis can have an immediate impact on your income and sales results.
So let's get started and go into detail on the 7 tips to increase final expense sales activity:
Tip #1: Find ways to shift your final expense sales from telemarketing leads to direct mail leads
This tip is specific to those agents utilizing final expense telemarketing leads or avatar leads or any sort of non-direct mail, over the phone-type of lead. My experience is that the top 10% of all final expense agents produce the majority of their business through a consistent effort at marketing with direct mail final expense leads. Whereas avatar leads, while some agents do very well with them, they still are in the minority.
So why are direct mail leads a simple and easy way to increase your sales? Here's a couple of reasons. First, direct mail leads tend to attract more consistent level of buyers than telemarketing leads. Why is this the case? I'm not sure, but usually the reason lies in the fact that people who fill out direct mail leads are more intentional with the reason that they do so. Telemarketing catches people off guard, are not as engaged relative to direct mail, and easily forget the call because many people receiving telemarketing leads receive multiple telemarketing calls for all sorts of things every single day. Direct mail, with its higher engagement level, tends to generate more buyers.
Second, there's a huge efficiency difference in working these leads. Unless you live in a major metropolitan area, direct mail allows for the medium town, small town and rural area a lot more appointment-setting and appointment-running efficiency versus any kind of telemarketing lead variant. This is due to the “Do Not Call” list, which has eliminated approximately 80% of the callable data that we have, along with the widespread move away from home phones to cell phones, which are prohibited to call from anyway.
What this all amounts to is an increased requirement in data to call upon to generate leads, versus what you can get from direct mail. If you ask any agent working telemarketing leads in a rural capacity, you'll find that many times they are 30 minutes to an hour between appointments. However, if you have direct mail and your appointments are 15 to 20 minutes apart, it's going to be a lot easier to set more appointments per day, as well as door knock in between appointments in a more efficient manner. You can see more people via this method for the vast majority of agents through switching to direct mail and thus have more opportunity for sales.
Next page: Tip #2 - Ask the tough questions up front
- The ‘no sale’ signals: Why prospects won’t buy from you
- Industry trade media brands disappearing: A closer look
- InsureTech news: Slice testing rideshare app; Lifester to match consumers, agents; Decisely gets $60M boost; Lemonade expands to Illinois
- Millennial misconceptions of life insurance: a barrier to life ownership
- AALU, GAMA launch partnership to unify advocacy efforts for appropriate tax treatment of life insurance
- 4 tips for finding a career mentor
- New York fines Zenefits $1.2 million for unlicensed insurance sales
- National Retirement Planning Week in full swing with bevy of resources for advisors and consumers