A video that was supposed to be private feedback between Chris Westfall and one of his telemarketers in the Phillipines was accidently left PUBLIC on Youtube. It now has over 1,000 views and has some good tactical information for all telemarketers. In this video, there is an example, from Chris’ telemarketer, revealing the “pause of death”, where 95% of folks were hanging up on the call as a direct result.
Once this pausing was corrected, the results took a dramatic turn and the campaign was successful.
The information in the video is repeated quite a few times, but there is some good information at the end, too, about the inquisitive, non-confident way in which each sentence was ending, by the telemarketer. Each statement sounded like a question, leading the prospect to believe that the telemarketer was 1) unqualified 2) not confident and 3) scared out of her mind.
Here’s the video:
For more specific information on hiring a telemarketer, outsourcing and more, see this link from MedicareAgentTraining.com
(Non-Members won’t see results.)
A recent post Chris made on the insurance forums:
“I really can’t recall reading anyone who just started from day 1 selling 3-5 med sups a week yr round? It just seems med sups are part time selling for 3-5 yrs till it builds up and you’re making $100k plus a yr”
When I started selling Medicare Supplements by phone, I was using direct mail from Mainstreet Powermail and relied heavily on their experience with historical response rates to guide where I would do the mailings. As I could mail anywhere in any state, I asked their rep for guidance as to the absolute best state response rates in the country and then in that best state. Believe it or not, I was getting 4 to 6% response rates in Michigan at the time.
I was writing 3 to 5 deals a week and only working Med Supps two days a week in the early days. I then continued to mail, fill the pipeline, and moved eventually to doing it five days a week, away from a mix of doing local final expense sales in person. Making that transition was a balancing act, because the final expense sales paid more, up front, but I knew from the residual income aspect that it was a better, long term play to get into the Medicare Supplements.
When the direct mail returns started to go down and we had two postage rate increases close to each other, I turned to telemarketing. I paid a local guy to do my calling and he would gauge interest and then build me up to the potential client on the phone, setting an appointment for me to go over their options based on how much they would save by switching to a new carrier on the same plan. This, too, worked very consistently.
Fast forward six years later and the phone rings all week from referrals now.
I write three to eight deals every week from referrals, spouses of clients, or posts I’ve put on the internet that are discovered by those shopping.
It is nice not having to do outbound marketing. This is something that I was told, early on, would happen but was hard to believe when it felt like it was so hard to get any traction in the business.
“It just seems med sups are part time selling for 3-5 yrs till it builds up and you’re making $100k plus a yr”
You can do it part-time and get there slower, for sure. I know many agents who started selling Medicare Supplements at night after their full-time jobs. I started part-time doing it just two days per week but set those entire days aside to concentrate on this aspect of my business before going full-time.
If I had it to do over again, I would have done it the exact same way. I probably worked 30 hours in those two days, early on. I know for a fact that it greatly depends on how hungry you are. I see, day in and day out, agents who rely on their spouse’s income to support their family and they treat their business as a part-time hobby. That won’t cut it. Those in that scenario do not have the fortitude to weather the rejection and stay long enough to enjoy the income.
On the other hand, I see agents who commit to cutting their safety net and it is sink or swim. They swim. Their commitment level is do or die and that makes all of the difference in their mindset to working the hours necessary and doing whatever it takes to make enough presentations.
Whichever direction you choose to go in, I strongly suggest investing in help with the prospecting, then the prospecting and pre-screening as soon as you can afford to do so. There is no greater time waster than spending YOUR valuable, limited and precious time with those that are uninterested. Even worse is spending 95% of your time with those that are uninterested and even if they were interested, unqualified to take action (due to health, qualification to buy a Med Supp, etc.).
I continue to find it extremely liberating to have someone on your schedule that understands what you do, knows the price of the best plan for them, knows that they will likely qualify based on the health questions OF that plan and knows exactly what their savings will be once they consummate that transaction with you.
This was my best lesson learned in this business:
Several states have more restrictive calling time restrictions than those published by the Federal Trade Commission and the Federal Communications Commission.
Federal rules dictate no calls before 8 AM or after 9 PM, and apply to all calls that do not have a more restrictive state requirement listed below.
Please be aware of these restrictions and keep in mind that violations may amount to $16,000 per call.
STATE CALLING TIME RESTRICTIONS
Alabama 8 AM to 8 PM (Monday-Saturday) Calls prohibited on Sunday and state and federal holidays
Connecticut 9 AM to 9 PM
Illinois Security sales only 9 AM to 9 PM (Monday- Saturday), 12 PM to 9 PM(Sunday)
Kentucky 10 AM to 9 PM
Louisiana 8 AM to 8 PM (Monday-Saturday) Calls prohibited on Sunday and state holidays
Massachusetts 8 AM to 8 PM
Michigan 9 AM to 9 PM
Minnesota 9 AM to 9 PM
Mississippi 8 AM to 8 PM (Monday-Saturday) Calls prohibited on Sunday and legal holidays
Nevada 9 AM to 8 PM
New Mexico 9 AM to 9 PM
Rhode Island 9 AM to 6 PM (Monday – Friday), 10 AM to 5 PM (Saturday) Calls prohibited on Sunday and state and federal holidays
South Dakota 9 AM to 9 PM (Monday – Saturday) Calls prohibited on Sunday
Texas 9 AM to 9 PM (Monday – Saturday), Noon – 9 PM on Sunday
Utah 8 AM to 9 PM (Monday – Saturday) Calls prohibited on Sunday and legal holidays
Wyoming 8 AM to 8 PM
This is a question that was asked by a new agent this week.
The agent said she had heard that you can lose your license, pay a fine, etc. for cold calling someone about Medicare plans.
What the agent is referring to is the marketing of Medicare Advantage Plans.
You can find the marketing rules from CMS about Medicare Advantage plans here.
However, in most all states, it is perfectly legal to telemarketing / cold call, door knock, and approach seniors about Medicare Supplement plans. Only one state, that I know of, has restrictions on the marketing of Medicare Supplement plans.
That state is Ohio. Their law prohibits the following for both Medicare Advantage AND Medicare Supplement marketing.
(2) Any of the following unsolicited contacts with a medicare-eligible person:
(a) Door-to-door solicitation including leaving information such as a leaflet, flyer, or door hanger at a residence, or leaving information such as a leaflet or flyer on someone’s car;
(b) Approaching individual prospective applicants in common areas (e.g., parking lots, hallways, lobbies, sidewalks, etc.);
(c) Telephonic solicitation including leaving electronic voicemail messages;
(d) These prohibitions on marketing through unsolicited contacts do not extend to mail and other media (e.g., advertisements, direct mail), or unsolicited contacts with prospective applicants with whom the entity or insurance agent has a business relationship.
Near the end of this podcast, I have several suggestions for various new ways to market Medicare Supplement plans through centers of influence.
Those referenced interviews are found at MedicareAgentTraining.com