35K!

I had a fantastic week - just over $35K submitted with 7 deals. 3 of those deals were new from telemarketing, 2 were calls from flyers while and 2 were referrals. Only 3 of the 7 were telemarketed deals - the other 4 were people who picked up the phone and called me.

And by the way, this was an unusually high week. If I put in 35K a week every week it would be insane. I average $700,000 a year in volume which is only 13,000+ per week.

It's the 2 referrals I'm impressed with - I'm really trying to build a local name and it's just starting to pull results. Again, my goals have still not changed and I think there's enough people in my locality looking for health insurance to make a great living.

Telemarketing is a means to an end. I do not plan on telemarketing for years and years. It's a tool to use to get into your local market and start getting known.

Advertising without a reputation, as I've already seen, pulls low results. However, over time advertising my agency and website - as people see my name over and over and over pulls more and more and I'm just starting to see that.

I think the final key to all of this is participating in local events. Not only will that generate leads but also really get my name known in the community.

I'm more into having my phone ring then generating web traffic - which is more expensive however higher quality and a much better closing percentage. When you advertise your website "get free quotes" you're advertising for shoppers. I know that from my PPC campaigns.

However, when you're advertising to save money off your current plan you're advertising for buyers. You're also not advertising to people who currently don't have plans.

I switched my "free quotes" flyers and my website to "save money" flyers with my phone number. Web traffic obviously down, phones calls up and closing is up.

Really, my theory is kind of simple:

Put an ad out: "Maryland Health Plans - Get Free Quotes....blah blah blah"

- lacking results. No established name. No established reputation.

However:

Same ads placed every month
Doing all chamber of commerce functions
Mailers to all local small businesses
Showing up at all local events

Now someone sees that ad and it's "Oh, there's all over the place - just saw 'em at the last festival" and they now contact me.

I've been talking to a few agents lately about mailers, why most don't pull and mistakes people make when sending them. Turns out I'm a violator of everything I shouldn't have done with mailers.

I've been talking to one agent who's been pulling 1.5% which beats my typical .05%. He even admits that it's one arm of a local marketing campaign and mailers alone won't sustain an agent's income. Nice to talk to honest people instead of "here's my secret system to making a ton of money without working."

But even at 1.5% return is relatively low ROI:

1,000 mailers X 50 cents = $500
3 cents per record X 1,000 = $30
1.5% return = leads

I really hate to guess the closing out of that - 1 to 2...three would be a gift. I'd need two to make it really worth it.

They key to this of course is dumping profits back into all forms of local marketing so over time I become a recognized name.

There are things I'd like to do but I really don't know if the cost would be justified. I could pay anyone $10/hr to simply plaster businesses with flyers. They'd just leave a flyer but also be required to take a business card. So not only do I know they've actually placed the flyers but I can follow up by email or phone.

The math is impossible though; 50 flyers placed per hour X 4 hours a day is $40 a day or $160 a week with 1,000 flyers placed per week. Return? Again, low - 1% probably or 10 leads. However, $160 for 10 leads is $16 per lead - exclusive and local. These are also "phone ring" leads since my web address is just a small footnote on my flyer. Most web leads are junk.

However, does that beat mailers? 1,000 mailers would be $500+ - this would be $160.