Final Expense Leads
There are many ways to generate Final Expense Leads. The two most popular forms of final expense lead generation are direct mail and telemarketing.
Direct mail final expense leads are done by contacting a mail house that specializes in marketing to seniors. The mail house should have proven marketing final expense leads pieces that they will mail out on your behalf based on the demographics you provide. On average, you will get a 1-1.5 percent return from your final expense leads mailings. In other words, for every 1000 pieces you mail out, you will get 10-15 final expense leads back.
There are two ways agent work direct mail Final Expense Leads. It’s a matter of personal preference as to which way you may work the leads. Some agents like to gather their final expense leads up every morning and head out in their car and knock on doors of the people that sent the lead back. If you knock on enough doors, someone may let you in. There are many problems inherent with this method of working Final Expense Leads. You run the risk of people not being home and at $4.00 a gallon for gas, that can get very costly. Also, the prospect often forgets about sending in the final expense leads card because of the amount of time that elapses between the time the prospect sent the final expense leads card back and the time the agent is knocking on the door. When this happens, you have an immediate objection to overcome. Not a great way to start a sales call. All in all, knocking on doors can be an inefficient use of time.
Some agents prefer to call their direct mail Final Expense Leads. This is a better use of time and certainly will save money on gas. However, you still run into the same problem of the prospect not remembering that they sent the final expense leads back. Unfortunately, you can’t show them the lead like you can when you door knock, making it impossible to spark their memory. Someone else may have sent the card in for them and never told them about it. Calling direct mail final expense leads can be an uphill battle. It really is hard to overcome the amount of time between the prospect sending the lead in and the agent calling the prospect.
Most agents love telemarketed Final Expense leads because unlike direct mail final expense leads agents are able to control their final expense leads costs and work flow. If an agent has a certain budget he can order the quantity of leads that will fit his budget. If an agent wants to work 20 leads every week, they order 20 leads every week. You can’t do that with direct mail.
Telemarketer Final Expense leads can be generated a couple different ways. There are companies that will send out a voice broadcast message about the benefits of Final Expense insurance and then the interested parties will press 1 to be transferred to an agent or to leave a message for an agent to call them back. The best way to work these leads is DON’T. This form of marketing is illegal and may result in the agent being heavily fined. These firms will tell you that they only call from an “opt in” list so they are compliant. They’re not!
True telemarketer final expense leads are generated by a live telemarketer from beginning to end. The telemarketer will contact a prospect and create interest about Final Expense Insurance and gather the necessary information so an agent can call back. It’s important to find a reputable telemarketing company that stands behind their leads. Make sure you get more than just the name, address, phone number, and age. A good telemarketed lead will provide all of that as well as date of birth, if they are a tobacco user, amount of insurance they would like, who their beneficiary will be, if they have a checking or savings account, and the best time to reach them. Also, it is extremely beneficial if the telemarketer uses the agents name a few times while generating the lead. This way the prospect knows who the agent is and why they are calling. This type of final expense leads is very qualified and easier to sell than most other final expense leads.
Telemarketer final expense leads are most effective if called right away. Some telemarketing companies will email final expense leads to the agent as they are generated. You can’t get a fresher final expense lead than that. If you wait too long to call, you run the risk of the prospect forgetting they spoke to the telemarketer. You must get right to the point and tell them why you are calling. Many prospects will say they already have insurance or they told the telemarketer they weren’t interested. This is normal and there are surefire ways to overcome these objections. Align yourself with the right telemarketing company and they should be able to provide you with tips to help you convert leads into appointments and appointments into sales.