Today we're going to talk about a subject that is like beating a dead horse, but it's an important one worth spending five or ten minutes discussing. It deals with the fundamental core of what final expense insurance leads direct mail marketing is all about - the lead piece!
I work with a lot of agents and always the discussion that is brought up is, "What final expense insurance leads direct mail piece should I use? What should I look for in a lead piece? What really matters?" And so today I'm going to really laser focus on what I think are the two core most common final expense insurance leads direct mail pieces available in the final expense market. I will give you my personal opinion on the final expense insurance leads direct mail based off of years working them personally. Lastly, make sure you check out my total direct mail final expense leads overview article here for more information.
First Final Expense Insurance Leads Direct Mail Type - The "Specific" Mailer
The first final expense insurance leads direct mail piece here is what I would call the standard fare 2015 benefit information for your state's residents only. The first line of the lead card reads, "You may qualify for a state-regulated life insurance program to pay for final expenses for just pennies a day."
That line right there is what the whole lead piece hinges upon. The fact that it says, "life insurance" and then it says, "it costs pennies a day."
When you talk about marketing and you talk about final expense insurance leads direct mail pieces, what this piece says dramatically affects the kind of quality of response that you get as well as the volume of response. And there is an inverse relationship between specificity of the lead piece, versus response rates.
If you laser target into a group, the more specific your final expense insurance leads direct mail piece, the less response you're going to get. If you send a card off that says, "Hey, send this in if you want to buy life insurance. We'll send somebody over to talk to you about it unexpectedly to try to pressure you to a deal," you won't get very many people responding back. But if you get a piece that's more generic and more wishy-washy, you're going to get a lot of people reply back which is your opportunity to see if, by human influence, you can get in and talk to them.
The final expense insurance leads direct mail piece above is what I would consider to be a very good balance of specificity and vagueness. What I mean by that is that first line there, the line that says, "life insurance that costs pennies a day," that tells the person responding that it is life insurance. And that it's something that'll cost something, so what happens is the people who respond are kind of curious because the piece looks official.
It may be government-related. They may get a deal from Uncle Sugar because of this! But they know they need life insurance regardless, so the people who send this final expense insurance leads direct mail piece back are a lot better quality respondents. They know they need life insurance. They just need to be sold on which life insurance is best for them.
The Second Final Expense Insurance Leads Direct Mail Mailer Type - The "Vanilla Lead"
Next, you've got almost something that's exactly the same final expense insurance leads direct mail piece, except that it says, "You may qualify for a state-regulated program to pay for your final expenses, regardless of your medical condition."
This lead to the right is what we call the 'vanilla version.' The version that doesn't really say much of anything! It kind of hints around what the whole thing's about. But it never really nails it down with specificity. As I said earlier, the less specifics your final expense insurance leads direct mail has, the higher response rate.
This vanilla card will increase your response rate, probably, 25-50%, but the quality of response is questionable. In my experience, you'll get more blank cards back or people who just put their name and the phone number so you have to door-knock these people. You're not going to have a large amount of leads that actually put their phone number down so you can set appointments with them.
Plus, there's a lot more people that are requesting what I jokingly call 'Mutual of Obama', or free life insurance off of these final expense insurance leads direct mail pieces. They sincerely are interested in some sort of Georgia State-regulated or Tennessee State-regulated program to pay for their deadbeat ass, and don't want to pay. In many cases, I'd prefer just to work an aged final expense lead over a vanilla lead.
Is A Final Expense Insurance Leads Direct Mail Campaign Only About Response And Not About Quality?
Now the argument among more experienced agents is, "Well, a final expense insurance leads direct mail piece is just an opportunity. It doesn't matter what the lead says. I'm just going to work whatever I get the most of and make the best out of it." If that works for you as an agent, I'm not certainly going to tell you to do something different! All I care about is results. We all do. And if the generic piece gives you better results and it allows you to see more people and to place more policies, then go for it.
In my experience, every time I do a 'vanilla card', I get results. I get people responding back. Many of them know it's about life insurance. But I get a lot more junk, too. I get more people who want free insurance. I get more people who don't put their contact information down, making them harder to reach. So, for my final expense business model, I don't really care for the lead piece.
Whereas this more specific final expense insurance leads direct mail piece that I use, I know that these people probably get it. They're not all geniuses that send the card in. Don't get me wrong, but a lot of them know about life insurance, and want to buy it.
The bad side to a more specific final expense insurance leads direct mail piece is you're not going to get nearly as many to reply. What we do at Final Expense Agent Mentor is have access to a fixed price final expense insurance leads direct mail program that uses the lead piece that says life insurance in the body copy. You can learn more about the most commonly-asked questions regarding final expense direct mailers here.
The Solution To Expensive Final Expense Insurance Direct Mail Lead Campaigns - Guaranteed Fixed Price Mailers
The advantage that you get as an agent is that you pay a fixed price. You don't have to pay the higher prices that really are the norm in the final expense business now for a lead that says life insurance. So you'd have to guarantee that you're never going to pay more than 'X' amount per lead and you're going to work a better quality lead that gets better results.
Just this week alone with this very same final expense insurance leads direct mail piece, I got a guy that did 6300 in business as of yesterday. Another one of my agents in Georgia is up $11,500 using these same exact lead pieces three days into the week. These guys that hit home runs that run a lot of deals are doing nothing magical, but these lead pieces have brought in a kind of response that has been really good quality and that's the key in this business.
If you're interested to learn more about my fixed price final expense insurance leads direct mail lead program, and why it does so well, please check my website at FEAgentMentor.com, look at the 'Contact' page. Go ahead and enter your information and you can talk to me, start a conversation about the details of how it works and how you can get in on it. And until then I just want to say thank you very much for reading.