What I'm going to discuss today in this article is all the basic information on all things final expense telemarketing leads.
This is really designed for those agents that are perhaps newer to final expense and maybe have never done any type of final expense telemarketing leads generation. This is not advanced training. This is basic training on the basics of final expense telemarketing leads and how they work. The goal is to equip new agents with the information they need to know about which final expense telemarketing leads are preferable and which ones are the best to use overall.
As an overview of today's article, first, I'm going to talk about the very basics of final expense telemarketing leads. Next, we're going to go into why telemarketing final expense leads work so as to get a better idea of why the leads work well. Afterwards, we'll talk about best practices on how to work the leads. You'll learn what strategies and tactics to avoid to get the most out of your investment. Then we're going to talk about the optimal areas to generate final expense telemarketing leads. There's some pros and cons you need to be concerned about.
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Then, I'm going to go into specifics about how I teach my agents to approach telemarketing leads, and how I train them to work them so that they get maximum conversion. And lastly, we're going to conclude on action steps you can take to get started with telemarketing leads.
As an aside, if you are looking for more information on all-things final expense leads, make sure you spend time checking out my final expense leads article, where I go into depth about direct mail final expense leads, and free final expense leads generation. You'll definitely enjoy it!
Final Expense Telemarketing Leads FAQ
What exactly are final expense telemarketing leads? Telemarketing leads are leads generated over the phone. There are a lot of different methods to generate final expense telemarketing leads. So there's not just one particular method to do so.
The old fashioned way was for the agent to pick up the phone, dial the numbers, wait for someone to finally pick up the phone. And at that point, convert the person into a lead, or some sort of appointment. There's more methods than that. Some like final expense voicemail or press 1 leads have been banned by the government as well! We'll go over these briefly now and into more detail later on.
The traditional fashion to generate final expense telemarketing leads is a live person located somewhere in the U.S., picking up the phone and calling, usually either in a virtual environment or perhaps in a call center environment.
With the advent of outsourcing, a lot of these live person final expense telemarketing leads operations have moved outside of the U.S. Most of what we see has been moved to the Philippines. The reason being is the Filipino population generally speaks good English and are generally understandable on the phone.
So the thought process is that they speak English well enough, plus they are paid third-world wages, these big corporate outfits say, "Well, hell! That's a good idea. Who cares about the quality? I'm saving a few bucks." So they outsource a ton of these operations to the Philippines.
The next option is really a recent creation over the past couple years that has an advantage over the aforementioned outsourced leads. Namely because outsourced final expense telemarketing leads can be problematic since people are frustrated with having foreigners talk to them over the phone. And this is heightened by a senior population already hard of hearing, who really doesn't appreciate non-Americans speaking to them. This puts another barrier of difficulty between actually taking somebody and generating them into a telemarketing final expense lead. The avatar final expense leads were born out of this frustration. They combine both the benefits of U.S. speaking people, along with the benefits of the cost reduction of outsourced leads.
Lastly, the other way to generate telemarketing leads are press-one or voice mail leads. All I can say right now in this article is everything or anything you see press-one or voice mail-related is illegal. Don't use them, even though there are a lot of agents that still do.
The Pros Of Using Final Expense Telemarketing Leads
Let me explain to you why final expense telemarketing leads work as well as they do. The biggest benefit to telemarketing leads it the turnaround time and the cost relative to direct mail. Telemarketing leads are cheaper than direct mail final expense leads to generate. If you've seen any of my direct mail final expense lead articles or videos, you know that direct mail generally costs on the very low side mid-$20 per lead, and on the top side lower to mid $30s per lead.
As far as final expense telemarketing leads go, I have seen these leads as cheap as $6 a lead, all the way up to $20 a lead. That's a pretty large difference in price. We'll go into more explanation down the line as to why that is. Still, the biggest benefit for telemarketing leads is if you get an agent who is new to final expense and they don't have the money to put into a direct mail campaign, telemarketing leads are a fine alternative on a short-term basis to get someone started in the final expense business. The other benefit is that telemarketing leads are faster to fulfill than direct mail leads.
With direct mail leads, you take about 4-5 weeks to get anything back from the original mailing that you did. There's always a considerable waiting period before you have the opportunity to start selling. There's no way around it. That's just the way it is, and it doesn't matter which vendor you use. It's going to take about 4-5 weeks to turn your final expense direct mail leads around. So you've got a higher price point, while you also have a longer fulfillment time.
These are the biggest barriers to entry for new agents who are really taking a risk on a new venture. Telemarketing final expense leads, on the other hand, generally take about a week to turnaround, maybe a week and a half, assuming you give enough data for the callers to work.. But the bottom line is that there's less money invested and less time required to fulfill a telemarketing lead order. This means your money is not tied up nearly as long and as much with telemarketing leads, versus direct mail.
Final expense telemarketing leads are easier to reach over the phone, due to the nature of how they were generated. Here's what I mean. If you use direct mail leads, you're reaching people not on the 'do not call' list that don't get solicited as much and people who are on the 'do not call' list. Folks on the Do Not Call list don't like to be harassed and those people do a little bit more screening and are sophisticated enough to check their caller id and decide if they want to actually speak to those people.
With direct mail leads, you tend to have to door knock more. Some areas of the country are better, where a lot of them will pick the phone up and a lot of them will set the appointments. But as time goes on, I think the trend will be that it becomes harder to get people on the phone.
With final expense telemarketing leads, the whole generation aspect starts from the phone, making it easier for them to repeat the same behavior when you call them back to set an appointment. These people pick the phone up for a complete stranger and go through the process of agreeing to a lead. To take that a step further, if they're going to pick the phone up one time for a complete stranger and agree to a lead generation, they're probably going to do it again. So my point is that there's a better conversion ratio for setting appointments over the phone with telemarketing leads than there is with direct mail. It's very unlikely that this is the only time they've ever picked the phone up for a prospector or a solicitor and the likelihood, again, that they'll do it again.
The last point here is that the type of person in 2016 and beyond that's not on the 'do not call' list are the type that buy final expense. This is not mean to be an insulting description, but a person who's not on the 'do not call' list is not a sophisticated person, let's face it! They still have a land line, whereas the vast majority of society has moved away from a landline. They haven't taken the simple steps to block getting calls by the dozens per week from people like us. What happens is that this kind of mentality mirrors the kind of person that buys final expense. People who buy final expense are simple people.
Final expense is sold to people who are world-class procrastinators. Final expense is as much of a product that a product that we sell as much as it is a market and a mentality of the prospects that we sell. Many times we're in the home and these people are having their phones blown up. It's getting less and less with people picking up cell phones and dropping their land lines. Still, the people that get solicited tend to be the people that buy final expense. I've noticed it and other people have noticed it and the kind of people who are going to respond to a lead are the kind of people that buy, so that's a good thing.
Best Practices For Working Telemarketed Final Expense Leads
Let's talk about best practices in working final expense telemarketing leads. The faster you actually work the telemarketing leads, the better. Here's what I mean. You're catching people off-guard when you generate a telemarketing lead from them. They're busy cooking. They're busy watching Jerry Springer. They're on the toilet. They're doing something completely different than thinking about, "How am I going to pay for my burial?" Let's face it, they're mind is not on you calling them up to sell them something about burial insurance, much less generate the lead.
This is relative to a direct mail piece where a direct mail piece is superior to any sort of telemarketing is that it's more of a contemplative engagement. They get the direct mail solicitation and look at it, read it over, show it to their spouse, put it aside, think about it, wake up the next morning and then they fill it out, walk it over to the mailbox and then send it back. There's a lot more thought on the person's mind before they actually take the effort to send it back. There's a lot more effort voluntarily required, whereas we can actually slam through a telemarketing lead to the point of them wanting someone to come over and speak with them.
With all said and done, if somebody's busy doing something and we do 'interruptive marketing' and get them to agree to a lead, sometimes they're half-way listening. It's not an entirety of where they're actually completely engaged and enthralled and emotional. They're half-way engaged. They're agreeing to it and they're expressing some interest. And there probably IS some interest! But they're not totally mind-focused on what you're saying.
What I mean by that is it all comes down to the fact that with these realities, you have got to work these final expense telemarketing leads as fast as possible. You can't wait around. You can't sit around and let these leads gather weeks and weeks of time. The best time to call on these people is the same day or the day after or the second day after. That's the best opportunity you're going to have to turn these people into appointments. As time goes on, their memory becomes poorer. They're not going to be nearly as in-tune with remembering that you or the lead generator called on them and developed the lead.
Preferably Set Appointments Over The Phone With Your Telemarketing Leads
The next point here is with appointment setting. I think you've got to lead with appointment setting over the phone. You don't have to. But it's just easier. These people picked the phone up originally. They're going to do it again. So you might as well call them up and set an appointment as they're accustomed to it.
But you've got to make sure you door knock these leads too. I always thought, and I still do to some extent, that telemarketing leads are a lot harder to door knock than direct mail. The reason is you don't have a visual crutch to show them. With direct mail leads you can say, "Hey look, see this lead here? You see you signed it? That's why I'm here." You can't do that with telemarketing as easily.
For the final expense telemarketing leads we generate things in my Mentorship program, we make sure to ask a few additioanl questions that gives an agent extra leverage when setting an appointment over the phone or face to face. We're going to be to sharing with them things they shared with us that are more personal in nature. Meaning they're going to have a better time remembering, and if they don't, they know that, "Hell, if I told them this stuff, then I probably did do it," which still is the leverage that you need to get your foot in the door at times to set an appointment.
You want to utilize all the information provided in the final expense telemarketing lead. Just like I said, when you set the appointments or door knock, you've got to mention, "You told us your address is 123 Hereford Street. You told us your beneficiaries were your sons and your favorite hobby is shooting guns at insurance agents"-- stuff like that. If you use that stuff to jog their memory, and you've got to be ready to do it. You have to assume they're going to forget everything. That's how you convert more of these leads into appointments.
As I mentioned earlier, telemarketing is interruptive marketing. The prospects are doing other things while we are actively soliciting, whether it's generating the first time of the lead or setting the appointment. We're not front in mind with the lead generation process which dictates the reason why we've got to prospect these people as quickly as possible.
Where Are The Best Areas To Target Your Final Expense Telemarketing Leads?
So how do you pick areas to target final expense telemarketing leads? If all else is equal, the preference is to target a more densely populated area. The reason comes down to the fact that we rely on very limited data to call on. What I mean by that is we have a 'do not call' list that essentially wipes away 80% of the call-able data.
With that said, that leaves us minimal area and what you don't want to do with final expense telemarketing leads is get too rural in nature. You will be between appointments and tremendous amounts of windshield time. If you're in a very rural area, you'll be all over the place and what that does is it reduces your efficiency. You're all over the place. You're not selling, you're driving. That may not be as big of a deal to some people. But it can grind on you over time when you're driving and putting a thousand miles on your car every week just to see some telemarketing leads.
So the more populated, the better. If you're in a metro market, that's great. Actually, in the bigger cities these final expense telemarketing leads are fantastic. You're going to stay a lot more geo-consolidated than a guy like myself that lives in rural Tennessee or rural Georgia where you're going to be all over the place to see enough people to sell them.
Also make sure to rotate your territories frequently. It doesn't matter what kind of telemarketing leads you use. If you're grinding on these prospects and calling and calling and calling, people are going to notice that the numbers calling on them is popping up as the same over and over again. They'll see it and they'll know it's a solicitation call. They're going to get wise and they're not going to pick up and if you keep slamming an area. It's going to become obvious that you're not going to get nearly as many final expense telemarketing leads back from it, so you're going to have to re-tool and re-campaign into a different area.
Always be open to longer travel times if you use final expense telemarketing leads. I can tell you this. Running avatar leads where I live, if I were running 50-75 avatars a week, I would work one week in Chattanooga, one week in Knoxville, one week in northwest Georgia, one week in Huntsville, and probably rotate it in that kind of fashion. That's really the only way to not burn out an area.
But you can tell, if you look on a map, I have a 150-mile radius that I'm traveling. So that becomes an issue of drive time. And if you put it in a rural area, you're just going to be miserable after a couple weeks and wondering, "What the hell am I doing?"
Lastly, most vendors allow you to exclude zips. Look, if there's some areas in a big metro market you don't want to go to or if you're just not comfortable with an area, these guys will let you exclude zips, which is great because you can target just the areas you want to target.
How I Would Instruct You On Working Final Expense Telemarketing Leads As A Final Expense Agent Mentor Agent
How does Final Expense Agent Mentor recommend you buy and work your final expense telemarketing leads? If you were my agent, I would tell you this. If you can't buy direct mail, which is the one thing we always want you to do, but you've got enough money to put together for some avatar leads or some telemarketing leads, I always recommend you do final expense avatar leads.
The reason why is that the price point we can provide is super cheap for our vendor partnership. The guy that actually does our avatar leads is a final expense agent on a part-time basis. He understands the market. But on the other hand he also is an expert in the avatar generation field. He's been doing it for several years for other industries, so he knows how to do it at a high quality, reasonably priced manner.
As an agent, our leads start at $7.50 a piece. This is much lower than a lot of other vendors. I'll mention some other vendors here at the end you can use if you decide not to work with me, which is totally fine, and they're of decent quality. The final expense telemarketing leads we used generally turnaround within 3-5 business days and they use very up-to-date data.
A lot of vendors out there use old data. I called on an avatar lead once in Dalton, Georgia and it turns out the guy was in Thomasville, Georgia and if you pull up a map and see Georgia, the distance between Dalton in north Georgia and Thomasville in South Georgia about 30 minutes from the Florida/Georgia line. It's about a five-hour drive! The guy used to live in Dalton about five years ago and so the vendor was using this ancient data and wasn't doing his job on keeping things fresh. Well, I just wasted a valuable hour and a half to two hours of my time and money on a lead that wasn't within my area. Again, important to have vendors that use up-to-date data.
The recommendation is to use a vendor that's going to collect information on a prospect such as their favorite hobby, color, beneficiaries, desired face amount, etc. All of this is useful in getting to the point of generating the lead.
Worst Final Expense Telemarketing Lead - Voicemail and Press 1 Leads - Buyer Beware!
A couple more things I want to mention here and it's very important I make this clear. I never recommend using any kind of press-one or voice mail leads. I don't recommend that my agents use human telemarketers because I just don't see the reason to do it now with the avatar program. It's not that it's bad. It's just that price-wise it's about half the cost, in general, and the quality is about the same.
Unless you don't have any options as a non-Final Expense Agent Mentor agent for avatar leads, then I'm going to give you a link to a good human telemarketing vendor that I've used before, but I don't recommend it in general and I never recommend press-one or voice mail leads.
The bottom line with those final expense telemarketing leads is that they're completely and entirely illegal. There is no basis for ever using them. Any vendors that use and say that press-one or voice mail leads are liars. They're committing illegal lead generation acts, they're out of compliance, and it's just a matter of time before they get sued.
The truth is that you could be sued, too! You don't want to go in that direction if you can help it. The best thing to do when you buy final expense telemarketing leads is to stick with avatars. The quality difference isn't that big of a deal. And at the end of the day, as I always say to agents, is that your license is a privilege, not a right! It can be revoked if you're found to do things that are not good, or are not representative of an ethical agent. I wouldn't put it past any DOI or Department of Insurance that they would can your license because you're doing something illegal like generating press-one or voice mail leads.
At the end of the day, I recommend all final expense telemarketing leads campaigns is ultimately a gateway drug to direct mail. We don't use telemarketing generation on a consistent basis once an agent has advanced to the upper echelon of his selling abilities.
I have right now maybe one or two agents using avatars that are advanced. But it's always the other 95% of the time a gateway drug to either patch the gap if there's a slow response rate in direct mail leads, which does happen occasionally with all vendors. So use final expense telemarketing leads to get yourself to a direct mail campaign. Direct mail is where the top 10% of final expense producing agents reside.
Getting Started With Final Expense Telemarketing Leads And Vendor Recommendations
What are action steps to get started with final expense telemarketing leads? Pick a vendor. If you're working with me, I already have a vendor. I'll get you the form over and you fill it out, describe the areas you want and boom! We're ready to roll.
If you don't work with me and you want some recommendations, the following two are great places to start.
If you're looking for avatars and not necessarily a contractual relationship, I am now offering final expense avatar leads for sale to both Mentorship and non-Mentorship agents. Click here for more information on how my final expense avatar lead program works.
If you need live human telemarketing leads for some reason, Mark Forte at the LeadzHub is a good option. I've used his before and I was impressed. They're telemarketing leads and I sold some sales on them.
The best thing to get involved with any telemarketing generation effort is don't place your hopes and dreams on one order. You have to understand that this is sales. Some days everybody and their mother buys. Other days nobody buys. You you really can't determine if a lead campaign is a good campaign until you put in about a months' worth of regular ordering, so don't throw the baby out with the bath water.
If you have a bad week, chock it up to inexperience. Give yourself a couple more weeks to try out an approach to the business with telemarketing final expense leads generation. Try a different area out. Try different variables. I definitely recommend that you invest in a good volume of final expense telemarketing leads. A good number to make a determination on where a good number would be at would be around 100 leads.
Out of your avatars, if you’re not selling 10 to 15 applications off of 100 avatar leads, then there's probably something wrong. They're probably not any good. Same thing with the live telemarketing final expense leads. Generally speaking, a 10-15% closing ratio or application to lead ratio is what you're looking for.
Lastly, make sure you're both calling to set appointments over the phone, as well as door knocking. Utilize all abilities and all mediums to convert your final expense telemarketing leads into sales. You're new. You've got more time than money. So please go out there and squeeze every dollar out of these leads. Utilize them to their fullest extent to make sure that you get the sales out of them.
This concludes my overview on the final expense telemarketing leads and the rules of engagement. I hope you enjoyed it. The best thing to do at this point is to follow the links that go into further explanation of the avatar leads, voice mail leads and their illegality, and the pros and the cons of telemarketing leads overall in a more detailed discussion. Thank you so much for reading.