How Many Times Would You Call a Lead Before You Give Up?

[Thad.Sipple]

Ok maybe look at it this way, how many leads are thrown to the side because ya can't get ahold of them within a certain timeline? 5%,10% 15%? 1. Those leads cost money, 2. I can't bet based on many years exp that over time those (point of diminishing return) leads will result in sales if contacted, hence my example.

So if 4 leads per week are lost per se in 4 months that's 64 leads, at a cost of $20 each, that's a loss of $1280, if they are not followed up on say 38 times for arguments sake. I dunno just a thought.

But let's say you re called all 64 4 moths later, I'll bet 30% will set appts and 20% to 30% will buy. So approx 5.76 sales, with an average yearly commission of $690 or $3,975 for all 5.76. Hmmm


Again I have very little exp working and selling leads, it's just my thoughts and some will say it's wrong or dumb, or what have you and that is the beauty of a forum many different opinions to choose from.

It's my opinion to recycle all your non sold, and no answer leads every 3 months, it has alway ended up as a net gain for me. You all know as well as I do if they were interested once and you didn't sell them or see them someone else will. (Generally speaking of course) for me I run this as a business not as an individual agent. If my old leads, non sold leads, no answer leads etc can get me 5% more sales, to me it's not a loss.

As always you don't know what you don't know.

120% of 0 is 0

Hehe

 

[PaperHanger]

Keep them on the call list for the next time you're in the area...except call *after* the newer leads...and call through the newer leads twice before calling the older leads...

Eventually there will be a group of older leads at the bottom of the list that just don't get called very much because you've already filled up your day with appointments...that's when you stop calling them, your day is already full.

Then you might try door knocking them if they just happen to be en route between appointments or other new leads and you have some spare time.

Keep calling, just not to the detriment of the new cream.

 

[jdeasy]

Ok maybe look at it this way, how many leads are thrown to the side because ya can't get ahold of them within a certain timeline? 5%,10% 15%? 1. Those leads cost money, 2. I can't bet based on many years exp that over time those (point of diminishing return) leads will result in sales if contacted, hence my example.

So if 4 leads per week are lost per se in 4 months that's 64 leads, at a cost of $20 each, that's a loss of $1280, if they are not followed up on say 38 times for arguments sake. I dunno just a thought.

But let's say you re called all 64 4 moths later, I'll bet 30% will set appts and 20% to 30% will buy. So approx 5.76 sales, with an average yearly commission of $690 or $3,975 for all 5.76. Hmmm


Again I have very little exp working and selling leads, it's just my thoughts and some will say it's wrong or dumb, or what have you and that is the beauty of a forum many different opinions to choose from.

It's my opinion to recycle all your non sold, and no answer leads every 3 months, it has alway ended up as a net gain for me. You all know as well as I do if they were interested once and you didn't sell them or see them someone else will. (Generally speaking of course) for me I run this as a business not as an individual agent. If my old leads, non sold leads, no answer leads etc can get me 5% more sales, to me it's not a loss.

As always you don't know what you don't know.

120% of 0 is 0

Hehe

Nothing wrong with letting a different agent have a crack at leads that one agent couldn't/didn't sell.

So the question should be based on when would/should an agent give up on a lead or when should an agency give up on a lead?

I've gotten leads that other agents gave up on and then I sold it. Probably someone has sold ones that I gave up on.

But if an agent or agent is spending time on old leads that they could be spending on new leads then that's where the diminishing returns comments come from.

Plus, this is the FE market we are talking about. While you are handing onto that lead the suspect has sent in 2 or 3 more cards.

 

[Thad.Sipple]

Ok maybe look at it this way, how many leads are thrown to the side because ya can't get ahold of them within a certain timeline? 5%,10% 15%? 1. Those leads cost money, 2. I can't bet based on many years exp that over time those (point of diminishing return) leads will result in sales if contacted, hence my example. So if 4 leads per week are lost per se in 4 months that's 64 leads, at a cost of $20 each, that's a loss of $1280, if they are not followed up on say 38 times for arguments sake. I dunno just a thought. But let's say you re called all 64 4 moths later, I'll bet 30% will set appts and 20% to 30% will buy. So approx 5.76 sales, with an average yearly commission of $690 or $3,975 for all 5.76. Hmmm Again I have very little exp working and selling leads, it's just my thoughts and some will say it's wrong or dumb, or what have you and that is the beauty of a forum many different opinions to choose from. It's my opinion to recycle all your non sold, and no answer leads every 3 months, it has alway ended up as a net gain for me. You all know as well as I do if they were interested once and you didn't sell them or see them someone else will. (Generally speaking of course) for me I run this as a business not as an individual agent. If my old leads, non sold leads, no answer leads etc can get me 5% more sales, to me it's not a loss. As always you don't know what you don't know. 120% of 0 is 0 Hehe

Lastly my office works 100+ leads every single day and we have worked that many leads and more for 3.5 years straight. That's 84,000 leads, so my experience and statistics are kinda real. I have also worked F2F DM for med supp for many years and F2F FE sales for many years.


I hope all this gives some of you something to ponder and debate about.

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Keep them on the call list for the next time you're in the area...except call *after* the newer leads...and call through the newer leads twice before calling the older leads... Eventually there will be a group of older leads at the bottom of the list that just don't get called very much because you've already filled up your day with appointments...that's when you stop calling them, your day is already full. Then you might try door knocking them if they just happen to be en route between appointments or other new leads and you have some spare time. Keep calling, just not to the detriment of the new cream.

Ya forgot about door knocking.

 

[PaperHanger]

No, you forgot to read the entire post ;-D

 

[Thad.Sipple]

No, you forgot to read the entire post ;-D

I was agreeing with you, I saw door knocking and then typed.

 

[PaperHanger]

Ahh, to the OP, gotcha.

DM leads are supposed to be time proof...but a whole stack of them are not 'diminishing return' proof.

Keep calling, but only when you are already in that area...and only after you've given the new cream a more - than - fair shot.

Actually best practice might be to still call all the old ones even if the day is booked, just to possibly keep tabs or let them know you'll be in the area, will try to stop by if I get a chance, what's the best timeframe, so it's at least a qualified door knock.

But for the most part, if the lead is 6 mos old and called 10+ times, the chances they'll ever answer is very diminished.

But what gets me is knocking more than 5 times and no one home...knock on different days of the week, different times, the house is lived in, things have moved around, motorized lawn tools on the carport etc....where the heck are these people!!! Lol

 

[jdeasy]

Ahh, to the OP, gotcha.

DM leads are supposed to be time proof...but a whole stack of them are not 'diminishing return' proof.

Keep calling, but only when you are already in that area...and only after you've given the new cream a more - than - fair shot.

Actually best practice might be to still call all the old ones even if the day is booked, just to possibly keep tabs or let them know you'll be in the area, will try to stop by if I get a chance, what's the best timeframe, so it's at least a qualified door knock.

But for the most part, if the lead is 6 mos old and called 10+ times, the chances they'll ever answer is very diminished.

But what gets me is knocking more than 5 times and no one home...knock on different days of the week, different times, the house is lived in, things have moved around, motorized lawn tools on the carport etc....where the heck are these people!!! Lol

If we want to get specific on when to give up on a lead, I had one a 2-3 years ago that made an appointment with. I pull into the driveway and see a note on the door.

I figure it's the ole "insuranceman, something came up" note but when I get to the door, that's not what it is.

It's an eviction notice from the sheriff's office. That's one to give up on right there.

 

[Norwayguy]

Do you sell Final Expense? If not its a different bird from Medigap or Medicare sales. I would agree to perform constant follow up on those leads as they are a different type of market. It does not work out that way with FE.

Did you miss the part where I said it was a total phone call time of 60 minutes 38 calls two of them were 30 minutes each approximately all the rest were five or six second calls how is that a point of diminishing return. At the end of the day it was still one hours worth of work the hour was just spread over four months I don't know maybe I'm crazy

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Well I would hope you guys know me well enough to know if I say I will update I will update in few months and let you know if it's still on the books.

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Do you sell Final Expense? If not its a different bird from Medigap or Medicare sales. I would agree to perform constant follow up on those leads as they are a different type of market. It does not work out that way with FE.[/QUOTE]

Also this was a telesale, so part of that 60 mins was the actual sale itself. If that makes sense.

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I dunno just figured I would post, it's also funny that I reset my not interested list every 6 weeks and get sales from them simply cuz a different agent called on them or the timing was different, haven't posted about those either.[/QUOTE]

Since I started using a dialer I have a disposition of blow off you know the type of call you just start talking and they say not interested and hang up never having a chance to really tell them why I called. Now if I was hand dialing there would be no easy way of noting the call disposition and date time to try it again so would have just moved on. Now with a dialer I can just have that disposition be added back to my calling list.

I am just a single agent I can only imagine how much more effective this same process is when you change out the agent...You just never know if their wife just screamed at them for spending money just got home from a rough day or in a bad mood. They were interested enough to send the card it can't hurt to recycle these calls a few times in your example 38 calls seems like a lot but to the customer it is only 2 calls as that is how many times anyone really spoke to them.

 

[Thad.Sipple]

Ok so I am doing another deal and figured I would look it up. Got the lead on 1-31 agent calls it and can't sell it and puts it Not Interested. On 2-3 lady responds again and from 2-3 till today 4 different agents have called her a total amount of calls 58 yes I wrote 58, when i say calls I mean we have dialed her number 58 times. On this one all 4 agents have had conversations with her, it just so happens the guy who got her today sold her. I guess this could have been considered a C lead I dunno, just think it is very interesting. The reality is if we stopped calling these leads after 10 times, Then today I would have only sold 8 not 10? Of course not everyday is like this but interesting too me at least, but i am easily amused

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Did you miss the part where I said it was a total phone call time of 60 minutes 38 calls two of them were 30 minutes each approximately all the rest were five or six second calls how is that a point of diminishing return. At the end of the day it was still one hours worth of work the hour was just spread over four months I don't know maybe I'm crazy

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Well I would hope you guys know me well enough to know if I say I will update I will update in few months and let you know if it's still on the books.

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Do you sell Final Expense? If not its a different bird from Medigap or Medicare sales. I would agree to perform constant follow up on those leads as they are a different type of market. It does not work out that way with FE.

Also this was a telesale, so part of that 60 mins was the actual sale itself. If that makes sense.

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I dunno just figured I would post, it's also funny that I reset my not interested list every 6 weeks and get sales from them simply cuz a different agent called on them or the timing was different, haven't posted about those either.[/QUOTE]

Since I started using a dialer I have a disposition of blow off you know the type of call you just start talking and they say not interested and hang up never having a chance to really tell them why I called. Now if I was hand dialing there would be no easy way of noting the call disposition and date time to try it again so would have just moved on. Now with a dialer I can just have that disposition be added back to my calling list.

I am just a single agent I can only imagine how much more effective this same process is when you change out the agent...You just never know if their wife just screamed at them for spending money just got home from a rough day or in a bad mood. They were interested enough to send the card it can't hurt to recycle these calls a few times in your example 38 calls seems like a lot but to the customer it is only 2 calls as that is how many times anyone really spoke to them.[/QUOTE]

You are correct and we have like 50 caller ID's so they won't know it's us dialing the heck out of them.