Some important steps

I did a pretty big review today and made some changes so I can get to my goal faster. The first was changing my agency name - which I've wanted to do for quite a while. I was the Health Solutions Agency however "health solutions" doesn't say anything about what I do and would be difficult to brand. My new business name is "Maryland Health Plans" which gets right to the point. I filled out the DOI trade name paperwork and faxed it today.

I hammered out a deal with a very good friend of mine who's in the small group market. I also want to offer group but don't know much about the market and need training. So when I'm telemarketing I'm gonna hit owners up for group or individual quotes then pass along all the group leads to Bruce. We'll commission split but he'll also train me.

I also got back to work calling local businesses with great results. I have an in-person appointment on Tuesday with the owner of a Lido's Pizza. I'm back to face-to-face appointments for all local prospects. I not only enjoy in-person meeting better but the closing ratio is twice as good as online.

I also got out 200 flyers today in residential areas. I've been putting out flyers for years and the results have always been good - it's just a bit of physical effort getting them up. The math on flyers is easy - I get one deal per 1,000 placed and it takes me an hour to put up 200.

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Not enough leads

Well it's Friday and I'm not getting anywhere close to the 30 leads a day I need. Since my goal is not to merely get leads and sell I'm just gonna take control of the rein and telemarket, set in-person appointments and get the money I need to take the next step. I'm not thrilled to cold-call but I'm effective and quite frankly can make more money a lot faster.

If just getting leads was the goal I'd hire a few more marketers but I really don't see the point. I just need more money so I can start my ad campaign.

Generating local leads

Doing well this week - 2 applications written and 9 more phone appointments set. The marketers are all over the place and don't work every day so the leads are inconsistent. The last time I telemarketed my own area was around 8 months ago with great success - nothing beats telling people where you live and people have more trust in a local agent. I think 8 months is enough time to market my area again.

I'll be on the phones again myself since I don't want telemarketers calling my own area - those calls are very easy to make.

I'm also still bored sitting in the house all day and one thing I really enjoy about local marketing is face-to-face appointments. I do quite well with phone sales but the closing percentage is at least double when you meet face to face. Selling over the phone takes experience and unique skills. I don't think anyone new in this business should attempt phone sales. If you give it a shot and it doesn't work at least back off and start in-person meetings.

If you're wondering why I don't just meet all my clients it's because of distance. When you have 3 or 4 marketers calling and they've been calling for months (I've been using telemarketing now for just over a year as either a main source of leads or supplement or other sources) you obviously go farther and farther away from your area. Right now I have marketers calling southern MD and I'm not driving 3 hours each way for an appointment.

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Very productive day!

Well, I have 62 leads total starting from Friday the 10th which averages out to be 10 leads a day. I need 30 a day however I just took on Andrea today and have Daryl coming on board tomorrow.

It takes me on average two weeks to close a deal which is by my design. I want business owners who are highly interested, knowledgeable and have current coverage. My normal system is a series of 4 to 5 calls.

However, I did get a deal today. Single guy, business owner 55 years old and basically wanted copays for everything. He definitely wasn't going for a HSA pitch - which is my favorite plan. I sold him Coventry at $228 per month. To be fair, how I'm I gonna pitch this guy a HSA when a copay plans is only $228?

I also set 8 appointments today so over all it was hiring another marketer, one client gained, 8 appointments set and now working with 62 leads. Very nice.

First marketer gets the boot

30 leads a day is what I need which takes around 5 marketers. I have three now, two more getting hired today. However, looks like a have a wrench getting thrown in the works. I got 4 leads on Friday from one of them and these are the emails:

duckpinquee123@comcast.net
lindarosenthal123@comcast.net
jobjob123@gmail.com

Notice a pattern?

I mean, common! That's not even trying! Heck, at least try to be clever about it. The good news is I don't prepay - they work a week then I cut them a check. So obviously she's toast and won't be paid on those leads.

Re-stated goals

I find it important after a few emails to re-state my goals. I am 4 years into selling health insurance and be it internet leads, telemarketed leads or whatever source you can name I, and many other agents, are still basically chasing down people who don't want our help. You can purchase leads or telemarket and what you'll find is the overwheming majority of leads are not looking for health insurance.

If everyone plugging their info into a quoting site knew an agent would call then you would not receive 90% of your leads. The truth is when people hit a quoting site they think it's gonna be like Ehealth where they simply see quotes on the next page.

Ironically, hundreds of people in my locality are seeking out and obtaining health insurance. So while I pound the phones someone a few blocks away is looking for coverage.

The telemarketing I'm using is the means to an end. And that end result is a local agency with a physical location with all leads being generated by ads using various media and over time establishing a stong community presence.

This will take time and money. I have started by making calls myself and am now at the step of farming it out. My next step will be building more income and slowing taking that money and putting it into community advertisements.

The title of this is "branding" a health insurance agency. Simply put, that means over the course of time I'd like my agency to be a household name in my area as the place to go for health insurance.