Transcription
For hey team, good afternoon everyone. Good afternoon. What's going on, guys?
You a Porsche guy, Tyler? I want to be. I don't have one yet, but I will soon, hopefully. They're amazing cars. I highly recommend it, dude. I I I've got it here; it's like the background on my iPad. So I've got this model; I've got a Porsche patent right there. Um, that's my goal by the end of the year here, so we'll see what we got to do to make that happen.
Nice. What model do you want? Do you want the G-body 911?
Yes, I do. Um, a little further away from that, maybe. I gotta be smart. I've got a wife now, wife and a kid now, so um, might have to tiptoe into it first, but that that's the dream.
Oh, don't worry, you can you can do it. I have two kids.
So do you have one?
Yeah, I have a Cayman S.
Nice man. Yeah, I love it. I uh I'm itching. It's I it's been the ultimate test of self-control to not do it yet.
Yeah, you start justifying. You're like, oh, that's just one one or two policies a month that I can cover by my Porsche payment. It actually uh having the Porsche brings me more business too, because I go to yeah, so it's a great great way to meet new people. That's my justification to it. That's that's how I'm selling it to my wife. She doesn't she she encourages me to do it, but I'm the one holding back on it. Um, but that's the thing, man, it's you know, it's a good networking tool. Gonna make it a lot easier to to recruit for sure. People are gonna ask ask what you're doing and stuff, so yeah, I'm I'm gonna make it happen.
Just gotta where you at?
Gotta I'm in Nashville, Tennessee.
Oh, nice. What about yourself?
Uh, California.
Okay. Yeah, California. So yeah, a a G-body 911 in Nashville will definitely stick out.
Oh yeah. Yeah, there's some uh there's some some nice car there's a couple of McLarens around Nashville, um, couple Lambos, uh, handful of Porsches, maybe more towards like Franklin and Brentwood, outskirts of Nashville, but yeah, it's gonna it's gonna it's going to pop out for sure.
Whereabouts in Nashville?
Oh, you said whereabouts in Nashville? Yeah, where you why do you live in Nashville?
So I I'm my house is actually in Smyrna, which is 20 minutes south of Nashville, um, but yeah yeah, we just moved to the area, my family and I just moved to Nashville. We're in Old Hickory.
Oh, nice. Yeah, yeah. I own I own a house in uh Hendersonville, on the other side of the lake from from from Old Hick.
So cool. Small world.
Yeah, small world for sure. We're looking at opening an office here in Nashville the next like six months.
Oh, sick. Yeah, sorry to cut in. I was just Nashville and my packed up.
Oh, you're good. You're good. Um, welcome everyone: Tony, Tyson, Thomas, William, Matt, everybody. Um, all right, Caitlyn, are you are you MCing this call, or do you want me to just run off questions? How how are we doing this?
I am uh unavailable to MC right now, but yeah, I'll send you those questions.
All right. No MC. Perfect. All right, let's do this. Um, while she sends me those questions, anybody have any uh any questions they want to drop that I can go over um around anything at all besides uh well besides nothing, I guess. Any any questions that you guys want to drop right now while we're waiting on the list?
I got I got a question. Um, I haven't uh I've been watching a few of your videos. I haven't started yet. I should be getting my first leads this week. Um, I just want to make sure I can make I know the first month is typically you know, more of a break-even month, you know, with the leads optimizing that kind of stuff. I just want to make sure I can make a um I mean, do my due diligence and make a big splash um immediately, so um I mean, is there any kind of pointers, things to stay away from, things to do well when it come like in terms of uh you know, following up or anything to to to you know, make a splash early on?
Um, I mean, I I would just the easy answer is just uh working your leads as hard as possible. I I don't you know, I as far as followup and stuff like that, um, be relentless on it in the beginning. You have nothing to lose, right? The worst case somebody tells you to to f off, the go with somebody else. Like I'm not worried about that. Um, I'm worried about the people that I can help right now. Um, so I think just being as relentless, I mean, obviously I'm not going to call somebody 10 times in a day, but the traditional stuff, right? I'm going to triple dial them as soon as they come in. I'm gonna call them later in the afternoon, maybe I can catch them at a better time. Um, I think as long as you're doing that, then uh you should see you should see success. It's just a numbers game, right? That's something that I'm working on with my agents right now because they see my production and they're like, how are you doing this? I'm like, well, I'm getting more leads than you. That's that's how I'm doing it, right? They're getting 25, 50 leads a week, um, or you know, 100 a month, whatever, and um it really just comes down to volume, like putting in the reps and and getting comfortable with whatever lead type you're doing, right? If you were doing did you work leads before this? Yeah, is this your okay, buy final expense?
Okay, dude, so you've you've got the work. I think if you went through final expense, man, that's that's brutal, um, from from what I understand. I don't know, I never cut my teeth in final expense.
You're you're right. Yeah, so um I I think just translating that same work ethic onto a better lead source or better product, in my opinion, um, just show up and and ask questions too. Like if you're struggling with something, don't hesitate to app. We have the community channel, sales training channel, um, obviously feel free to reach out to me if you if you need anything specific, but um I think just just work in your leads, man, that's all. And product knowledge, obviously you need to know what you're selling, but uh are you trained on IULs yet or um
I mean, I've read a few books, watched a few videos, uh I mean, I'm I'm dangerous enough to to have a conversation, um, I mean, when it comes to like in detail like indexing, I mean, I could probably ask someone, but besides that, I mean, I'm just enough enough to have a conversation. I am a I am 13 months into this business and um I am by no means a genius on IULs. I know I still know just enough to be dangerous and to help people get into products that fit their goals. Um, my Mike, who's on this call, is uh one of my partners and he's really good at the the super complicated stuff with indexing and stuff like that, but anything you need, bro, don't hesitate to reach out to us. Um, I think once once you're running, you're going to figure out what your pitfalls are and what you're struggling with, and then I can help you more, but before that, it's just work, just put in the work.
Yeah, cool. Thanks.
All right, um, what dialer am I using? Uh, I'm using I use a mix of myself phone. I was using cell phone only uh until this past week. I started using Wave uh just because it's a lot easier to track and a lot less messy. I can actually see how many dials I made in the day and disposition my leads more efficiently. Um, so I'm using Wave currently.
Map and you notice like a huge difference on your connection rate with the Wave versus your cell because you can do you buy like local numbers or are you just using like the default number in Wave?
So I just set this up like 5 days ago, um, so I just have my default number, uh, and it hasn't made much of a difference. I have a pretty good connection rate with my cell phone to be honest, um, but like Mike Mike is in New York, so he has a New York area code. His connection rate from his cell phone is not very good because you I don't know what that's about. Maybe they see a New York number doesn't seem as trustworthy. I don't know, but uh I have a I have a Florida number, so mine's I have a pretty good connection rate. Um, I haven't really noticed a huge difference with um with Wave. The biggest difference is the efficiency aspect for me, like I can just click a button and call a lead and disposition that lead all in one system, so but as far as connection rate, it hasn't made much of, but you have a bad connection rate, it might make a difference for you.
And are most leads like are you getting leads in Florida or East Coast or just curious like if that makes a difference like because I'm in Utah, I have a Utah number. I've had stuff in South Carolina, Virginia, Ohio, and some stuff in Utah, Colorado, Newx.
Yeah, I mean, I I think that probably could play a part. If you're calling from a Utah number and it's somebody in South Carolina, it could could definitely play a part. Um, have you signed up for Wave yet?
Yeah, I have. I just haven't started actively using it, but I was just curious like with the local numbers. I I just suspect that that might increase your connection rate and just wonder if that's what you're doing.
Yeah, local numbers 100% is going to increase your connection rate. There's no question about it. I just haven't set mine up yet, um, but that that was the goal with me setting up Wave to begin with was to be able to use local numbers because you know, if I get a lead in New Jersey for because I I work leads all over. The only state that I don't uh get leads in is New York, and that's just because I can't so um I uh yeah, I work leads all over, and I mean, I would say I have a pretty good connection rate overall, but I have a Florida number. If I had a Utah number, Arizona, I don't know, I mean, maybe the view the way people view that is a little bit different. I don't know.
Gotcha. Thanks, man. Appreciate it.
Way to kill.
Yep. Thanks, bro. Yeah, exactly. I that's why I don't I'm not bothered. I can't be bothered to get my license in New York.
Yes, uh, two questions for you. What is your I'm new to the leads environment, so what is your operation um because like, for example, I I work warm leads as well, hot market, um so I this first week getting my leads I find myself a little busy finishing up some of the other tasks that I have, those appointments, making those calls and followups, tracking the business, um and then now also get now getting leads coming into my inbox, so what is your like recommendation or day-to-day operation?
Yes, so I I don't work any warm market. My entire day today is strictly focused on production, recruiting, and training my agents, so anything that's not involving that, I don't I don't do. So my day is broken up into production hours, so that's typically from um you know, 8 to 11 Central, uh that's the time I'm I'm in, and then I admin and any recruiting stuff is done between 122 um and then three to five or or sorry, three three to five I'm uh I'll do do like one-on-ones or trainings with my agents, and then from 5: to 9 I'm back on the phone. That's every day.
Okay, so you just broke down your day in different tasks that you needed to do?
Yeah, because with call with calling leads there's there's definitely I mean, you can get a hold of anybody at any time potentially, but like you're much less likely to get a hold of people from like what 12 to three or four, right? So um I focus those hours where I'm focused on production, I'm focused on the time windows that are going to generate me the best result, which is in the early morning and whatever the lead time zone is, and then uh late afternoon.
Okay, cool. And then what what uh persistency are you guys seeing average with with the business that's getting placed? Like what is a what is a good persistency to be tracking here?
Yeah, I just got my my persistency from the IMO, and it was 88%. Um, so pretty good. I think the industry average is 30%. Um, now I did have somebody message me the other day about like uh failed premiums. I have had I mean, everything goes in waves, right? So I'll have like three straight clients that that I sell, really good tie down whatever, and then you know, Friday comes around and I get a notification of their failed premium. I'm reaching out, and a lot of those I'm able to get back on the books, but that does happen, and then there'll be you know, the next two weeks I won't get any failed premiums at all. Um, but yeah, my overall persistency is 88%.
How many apps per month?
Oh, dude, I don't know. Problem um like uh issued probably dude, I don't know, 20, 25, maybe. It depends. Some some months are bigger with less apps because you're getting more whales, and then some months are bigger and more apps, but probably probably somewhere around 20 on average, but that persistency is not not monthly persistency. Sorry for go ahead.
28 last month and this month you have 16 so far if I'm not mistaken.
Okay, that's not a monthly that's not a monthly persistency, right? That's my overall persistency report.
Yeah, um that's now I just started in February of last year, so I don't have a lot of policies that have made it to the first year yet, so that's that 12-month persistency was probably going to be a little bit lower than that, probably low 80s, maybe. I don't know. Um, but that was like yeah, that's the persistency that I have on the books right now.
That's pretty good. So can you um elaborate on like what your process is to make sure that the clients are happy and making sure that you know everything's just flowing through? You have a like a routine, like follow-ups, certain things you
Yeah, so when when I tied I just started doing this actually, uh my upline gave me this um this word track is use at the end of uh the application. So before I submit an application, I say, hey, real quick, last thing for me to do is H submit here, and then we're going to get an answer on this. I just want to double check this premium super comfortable for you, blah blah blah. I'm tying down to all that before I even submit the application. Um, after the application, now my entire flow is in in the course, right? So that entire script that's exactly what I do on every single call, and I'm assumptive to get into the application. Once I close it, I've tied it down. I'm always making sure the premium is super comfortable. This is something that they you know, they're on board with. Um, I'm not doing any of the I used to do this when I started because this is how I was trained where somebody's like, oh, I don't know, and I'm like, oh, you don't have anything to think about yet. Let's just get this submitted to make sure we can get you approved, and then you submit it, you get them approved, that that policy falls off a week later, right? They tell you to cancel it or whatever. So I stopped doing that, so I'm focused really hard on tying down my calls, making sure that they're on board with the policy. This is something they they know they need, they want that's done throughout the sales process. Once I submit, um I send them a policy summary email with all their policy details, um a text message with all their policy details as well as that stop replacement notice that lets them know like hey, um you know, other agents might be reaching out to you, blah blah blah, gives them a bullet list of things to expect, and then um I typically set a reminder. I have an automated task that go that gets set up when I close somebody that sets u a two-week reminder just to double check that they got their policy packet that they can get into their portal, and then um I do six-month and uh 12-month reviews. Other than that, it's all just the connection I built with the client on the call.
Are you doing one-call closes, or are you on all of them?
Uh, I would say 99% of my business is one-call close. Every now and then I get somebody that I can't close, um, and again, it like if somebody's pushing back, oh, I don't want to do this right now, you know, let me think about it, let me look this over with my wife. I loop that one time, and then I I let them off the phone and just schedule a time to circle back because I'm not in the I don't want to keep writing business like I did early when I started where I'm like just forcing the application just to get it, and then I get it and it falls off. So I'm not opposed to scheduling a followup, and I'm not going to push super hard through those, let me think about it or I don't know if I want to do this right now. Um, now I'm going to isolate why they aren't sure, right? Because that means I missed something in my call, like I either didn't build the gap enough, didn't you know, isolate how much covers they have, how much covers they need, things like that, but yeah, 99% of my businesses one-call close, and then anything else is just because you know, I didn't want to push them into a call or a close right there.
Um, Tony, what's up? What's going on, Tyler?
How are you, man?
Good, good. Hey, quick question, um, how are you submitting the apps? Like I know it's one-call close. I'm doing the same, but are you uh having them submitted while they're on the phone, or how are you doing it?
Yeah, always. I always stay on the phone until we've submitted it and gotten a decision. A lot of a lot of my business is Express business. Um, I yeah, I um is my main focus. Sometimes I will do Americo, um, if it's a coverage-focus call. I know everybody hates on Americo, but guys, they have a higher cap rate, a lower cost of insurance. Americo's I is better than Mutual's product. The only thing I don't like about Americo's I is that you can't max fund it, like you can't structure it for men's face, but I just got word from our Americo rep that that is coming at the beginning of Q4 or Q2, so that's going to be huge.
Sorry, Audrey, I didn't mean to cut you off, Audrey, but no, sorry, I didn't I didn't mean to interject other than I'm just I'm very familiar with both products, both carriers. They're both great. The biggest thing is just that they are Express products, so they're not cash value focused, so that's one thing. Just I've seen other agents make that mistake is that is not built for cash value. It's meant for guaranteed you know, death benefit, a little bit of cash value you can borrow from, but it's not a you know, it's not a true true uh index-driven uh cash value focused machine, so be careful with that.
Yep, agree. Tony, so go
Yeah, so then like for the I so like I know the first part is real quick, but are you sending them the email uh to sign, and they you're waiting for them to sign, or like how are you doing that?
So I use the text uh the text-me method, so they get a link, they put in their four-digit pin, uh the last four their social, they sign right there. That way I can guide them through it because so many clients get on and they're like, oh, it's it's telling me the pop-up blocker is blocking this. All they have to do is hit okay and continue, right? It's not that big of a deal, but if I let them go do that on their own, they're going to get confused by it, and then they're going to forget about it, and it's gone. So I'm on the call, hey, I'm sending you a link right now. You're gonna get this from Mutual of Omaha. All I need from you is to click that link. You're going to put in the last four of your Social, and it's going to ask you to electronically sign the HIPAA release, just give Mutual permission to look at your medical records. They say okay, hey, I'm waiting, they do it, they say okay, that's done. I hit you know the next thing it's, and then I'm got that's how I do with the front and the back of the got, and like my first month I never had any issues with this, but lately I've been getting clients that are like hesitant to give the full social and then like the banking information also, um, like how are you addressing that if you're when if you're you're getting it uh
I'm the worst person to ask because I I'm being being genuine when I say I do not I don't get those objections at all. If I do, it's like it's probably one out of 100 people that I talk to that I actually get into an app that actually give me like, oh, I don't want to give me my social, and I just say, hey, like this is how they verify that you are who you say you are, and also so they can look at your medical records to make sure you are you are insurable, and if they're going to keep pushing back on that, then it is what it is. I've got eight other calls on the calendar. I'll just go to the next person.
Yeah, like my first one I never had it. It's weird. It's like back to back. I just said a couple, and it's like I'm doing the same process. Nothing's changed, but maybe I don't know. I'm just
How are you asking for it?
Uh, so just the way I usually do it is like I go through the app with them, and then you know, what's your social, just like that, nothing you know, you know, what's your address, name, same way. So what I do, maybe that's what you just said, but when I get to that page where it's got social, height, weight, address, phone number, email, I do everything else first, so they're already they've already given me information, then I go back and say, okay, you know, John, what's your social, and they give it to me.
Yeah, so like I usually tied that social and the banking information like last questions. Everything else I get, they already pretty much gave me everything, but like I just had it recently, a couple of people saying, oh, I'm not comfortable. Let me do some research on the company before you know, I give you my social, but they gave me pretty much everything else, so it's just weird, you know.
Yeah, I mean, I think it's like anything else, man, like I just told you about the like you know, I wrote three straight policies and all three premiums failed like right. Sometimes sometimes you know, happens, right? It just happens in waves. Um, I think if you find yourself consistently getting that, then there is something in your process that could probably be broken down and you know, changed to avoid that, but if it's just one or two people, I wouldn't be overly concerned about, especially if you've had success doing the same process that you've done before.
Yeah, okay. Cool, man. Thanks.
Absolutely. Audrey, go ahead.
Hey, so um just maybe this is helpful for you, Tony, maybe it's not, but um for me, I'm really big on kind of just stating your role and purpose, like who you are, who you work for, what the goal is for the appointment today, just in the very beginning, once you're kind of on that call with the client, whether it's the first phone call or I mean, for me, I push for Zooms because then you have the opportunity to build that rapport, they see you face to face, um, but I just told them right from the get-go, I said, listen, Tony, today the goal is for us to you know, walk you through the pre-approval and application process that is going to require that I gather some detailed information from you so that the carriers can check your prescription history, medical records, and driving record because that's how they either approve or deny you for the coverage, so you know, as long as you don't have any objections to that, we can continue to move forward with the appointment, because then you're kind of like pre-playing that that whole uh appointment for the client, so that by the time you get to that application, you've already told them that you're going to gather some more detailed information, and it it's never an objection. If they have an objection, like Tyler said, I just say, well, you know what, this is how we either approve or deny you for the coverage. I can't move forward without this information, so either we can move forward or I can just go help other families that that do want my help, so but that's what I do.
Makes sense.
Yeah, thanks.
Yeah, I think the part in my script that that maybe prevents that a little bit, um, well, it's it's everything. It's part of the call, right? They got to trust you, all that stuff, but like once I get to once I've explained the types of policies and I say, there's two things to keep in mind here that are more important than the types of policies themselves. Number one, life insurance gets more expensive than the older you get. Okay, I go through all that. Number two, it is a privilege, so the carriers are going to look at your medical records, your driving records, prescription, all that stuff to verify that you are insurable because at the end of the day, it is up to them whether they're going to cover you or not. They bind to that, and then they say anything, oh, why do I have to give you my social? Then hey, remember I told you they're just going to look at your medical records, they're not going to come out and poke and prod you. This is how they do that, and so they just got to make sure one you're a real person, two you're insurable, and then if they keep pushing back, then it's just all right, I've got another call, see you.
Can I add something to that as well? Please.
Um, and this is just from experience doing a lot of different things, but what what has worked in the past too is when when somebody doesn't want to give you identifying things that that specify them versus is you instead of looking at it as kind of like a negative, yeah, you're giving up information all and even splurge a little bit on the truth. You know what, the reason, Mr. Smith, the the reason I need this information is so that we can save you the most amount of money. You know, some people smoke, some people do drugs, I ride motorcycles, I jump out of airplanes, you know, so I lead a much more dangerous life. If you want to pay the same premiums as me, you know, don't give me your information, and I'll just I'll show you what my bill is. You know, the reason I need this information is to make sure that you are not being charged the same as a smoker or the same as a heavy drinker or the same as somebody that has type two diabetes and 17 different medications, so it's it's not to expose you, it's actually to save money, so I kind of flip the script on them with that, and in in that regard, they're like, oh, maybe this person is actually not just trying to sell me something but actually looking out for my best interest, but sometimes that'll end up working if you get to that stage.
That's gold. I like that a lot. I'm going to steal that for sure.
Yeah, um, Matt's written quite a bit too. I see him in the WI Channel all the time.
Yeah, um, Lyd, what's up?
Uh, you got a question?
Yeah, I do have a question. Um, so new new to the system, and um how are you using any of the live transfers, Tyler, or or do you have any appointments set for you? You're talking a lot about dialing all, you know, a lot, and I just what are you doing mostly?
Yeah, I mean, I I get a I'm running the same exact system you guys are running, um, so I get uh you know, I get live trans some live transfers. I don't get a ton of them. I do get a handful. The reason I don't get a ton of them, though, is because I work my own leads, so if the lead is there, chances are I've called them a lot, and I'm you know, they've already talked to me or I've scheduled an appointment or whatever it might be. Um, I do get quite a few of the self-bookings, um, but I treat those self-bookings like leads, so I call them immediately, and the reason why is because the first week I didn't, and I had three people within two days tell me that they had gotten covered with somebody else the day before I talked to them, so they scheduled this appointment like two or three days out. I called them at the appointment time; they had already gotten protected, so I've started treating every single appointment like a lead, and I call them. If I see the appointment come in, I call them right there. Worst case, they don't answer; the appointment is still there, but I'm I'm still trying to get a hold of them before the appointment.
Sure.
Okay. Thanks.
Yes, sir. Um, Sean, what's up?
Yeah, um, I've gotten 12 clients that like the product and everything, got all the way to the application, and they're like, hey, I got to pay this bill or I got to do this. It's gonna be like a month or two before I can get this started. How do I what's a good way for me to pivot to because I asked in the in the appointment like you know, why are we looking at this today? What do you have in place? Why were you even looking for coverage? And for some reason, they keep trying to push out like a month or two from now. How can I get them to come closer to the realism of today?
Yeah, I mean, I think that has to be done like way before before you get to the application, um, that's building building that gap while you're on the call. Um, you said you're asking why they're looking at coverage today, right?
Yeah, pretty much like that's one of the first ones that I ask is you know, what got you looking into the IUL product right now?
Yeah, um, I mean, it's hard to say why you're getting that a lot. You said it's like 12 to 15 people, so yeah, out of my first 100 leads, I've had 12 go to that.
Yeah, man, I mean, that that's hard to say why exactly you're getting that, but it has to be there's something in the call you're not building, um, you know, I don't want to say you're not building enough trust or whatever, but like my first thought process would be you're not building enough trust, you're not building the gap, the urgency inside of that call, and that's why you're getting that because I I don't really I mean, every now and then I do get somebody that's like, oh, let's circle back about this in a month, then I'm going to try to dial that in and and and you know, loop that and isolate whatever's going on, but I'm not going to push that, but I I don't get that that often. Um, so I mean, are you following the same sales process that's in the in the program or do you have your own type of the one that uh I guess it's the one that you're running, the one that you send us when we first start?
Yeah, um, and this is this is popping up when you get to like you've quoted, they they're good with the coverage amount, they're good with the premium, and then you're trying to start the application. Yeah, like everything's golden, they like the product, they're super excited, and then we get to the application, they understand that it's going to take time for underwriting, and then they're like, hey, listen, you know, can we set this payment for 90 days from now or can we do this payment you in May? And I it's kind of where I keep getting hung up at.
Are these like over over like men's face max fund policies, overfunded, high premiums?
Yeah, yeah. I mean, I do think if you're selling if you're trying to sell a lot of overfunded max funded policies, then you're probably gonna have to do more two-call closes inevitably, like I mean, you still will be able to close one-call close some of those people, but I think that's where that's where you get those people that are like, oh, let me let's do this next month. I have a big deal because one they're it's kind of like their eyes are bigger than their or their what is it, their eyes are bigger than their stomach, right? They they want to do this at this big amount of premium, but then they realize they can't do it, so they push it off. So I'm trying to isolate coverage first. Every call I get on, they they everybody wants cash value, but then you start talking to them, you find out they have six kids, they're not covered like or they have a $50,000 policy, so I'm trying to make that smaller for them and more easily digestible, um, and then you know, maybe that's getting them getting them covered now at target premium but leaving them the flexibility to overfund or max fund when they can't afford it.
Yeah, I think it's one thing that where I'm maybe I
When I don't, it's just like I'm I'm dialing all day, or you know, call automatically, like the text automatically set up through the AI, but so that just I'm showing that saves, you know, time and effort in doing that. So just dialing is usually where you just get all your uh all your stuff into, so that's good.
Okay, ex-awesome, thank you. I've never been a part of this kind of infrastructure where there's like automated emails and texts sent out. I've usually had to do it myself, so awesome, appreciate it.
Yeah, welcome, welcome to the uh the 21st century.
Yeah, Runnings. Yeah, it helps a lot, man. Um, I also get too many leads to be texting everybody personally myself. How many how many I ask? How many you got?
M, uh, about 150 a week.
Wow. Yeah, and here here's my perspective on this because I want to make it as impossible as possible to not succeed every week, right? So like if I buy 150 leads a week, my chances of not doing, you know, 15-20K that week are very very little, especially selling ILS like, you know, I think I've sold two $5,000 PS Target premiums this week, a $9,000 um, so when you're selling a high, I just I just got to get myself better odds to do those numbers, right? If I do 15K a week um, that's 60k a month, and you know, even if I spent a couple thousand dollars a week to do that, like it is what it is, right? So I'm just trying to give myself the absolute best opportunity possible. I never want my lead flow being dried up. I never want to find myself with too few leads.
Um, yeah, right. Okay, so you're just getting the cream off the top with all the lead the amount of leads that come in.
Yeah, and the thing is like some, you know, a handful of we you guys know this, not everybody's a buyer right now, right? If if it was, we would all be millionaires and we wouldn't be on this call. Um, not everybody's a buyer right now. So if I'm building up my pipeline and I'm able to pull eight, nine, 10 buyers a week, you know, policies a week, and then the next week there's still 130 people that came in last week that are still getting texted and called, emailed, inevitably some of those people are going to reach out to book an appointment, right? So now I'm compounding my pipeline. Um, but yeah, I mean, I'm focused on the people that are ready to buy now. I'm not, and if if I'm doing that, it makes my my mindsets way better. So like I was saying earlier, if somebody's given me a lot of push back on a call and I know that I'm not going to close them, instead of beating myself up and you know, burning that lead, I've got, you know, six more in the next five hours that I can go close a couple of them.
Yeah, okay, awesome, thank you.
Mike, what's up, brother?
Hey Tyler, what's up, man? Um, you kind of hit out of it on the last one. Um, I've been kind of doing that as well. It's just kind of focusing on the lead the the fresh leads that are coming and the people that are willing to sell or willing to buy like right now, but what do you what do you recommend for your lead maybe your lead leads that are like a month or two old that um are can you send out like you're sending like maybe an automated tax or you throw in like maybe a calendar link to someone to see if maybe someone would just book a a time with you? What's a a good engaging way to get those leads that are a little older that I I'm only doing a 100 a month right now, but I I have some leads that are a month are so old and I'm just a one-man show right now, so um I have so I have like probably 150 leads in the followup column that are just some of them are older, some of them are fresher. What do you recommend for some of those older leads?
Yeah, I mean, I've done a lot of um, you know, database reactivations, sending out text messages to get people re-engaged. You can throw in a calendar link, or you could record like a little video that, you know, explains the policy that they opted in for, like you can do all kinds of things, but yeah, I mean, that that's um that's why we build a pipeline, right? So we can reach back out to those people that didn't buy two months ago, try to get them on on now, but um, yeah, I text text messages reactivation. Um, I would just experiment with messages that you test out because, you know, you might send out a message to this group, 100 people, and two of them respond, but the next 100 people you might send out that same message to get 15 responses, right? So just test your messaging and and shoot, I mean, they're old leads, right? So it's like you've already paid for them; there's not really much to lose. Um, so yeah, I do a lot of that. Um, probably once a month I go in and um re like re-engage my leads if I can.
Okay, thanks, that helps.
Did you have a question, Molly?
I did, but um it was the same question that he just answered, so I'm I'm just having a really hard time with my connection rate. Um, I can hardly get anybody to show up to their appointments, answer the phone, and you know, I'm sending like the follow-up text with the business card and the I see the ISAs are also contacting them, and you know, I'll follow up a week later, and I'm still getting like crickets in return. So my question was going to be at what point like do you stop trying to contact that lead and just get new ones because I'm just like I said, my connection rate is really bad. So that's that's a twofold question; uh, when do you start getting new ones?
I always am getting new ones; I never stop. Um, I think that anytime I've seen agents inside of our not my agents but inside of the agency that I'm with, agents that'll do like 50k and then the next month they'll do 30, and um it's because they like they get you get I'm not saying this about you, Molly, or anybody else in this call, but people get comfortable, and so they just keep at that same lead flow. My thing is, and I'm not always buying 150 leads a week, sometimes I'm buying 100, but if I'm if I pop off on Monday, I'm buying more leads that week because now I'm just I'm in the green already; let me play with house money and try to get as much as I can. Um, as far as when I'm giving up on a lead, never, because we have a system that can follow up with with them forever, right? So you can, you know, create campaigns, go in there, launch them to your to your people. Um, if you find yourself slow one week, like there's not enough appointments or not enough people to talk to, go re-engage your leads, go blast them out, go call them. I never stopped doing that, but I'm al it's also like a 50-50 where I'm never letting go of those old leads unless they tell me to f off or you know whatever. Um, but I'm always I always have new leads coming in as well, so that I'm never like I've got to go get a couple policies out of this last 100 leads that I bought. I just always focused on what's coming in now.
Mly, when you say um when you say your connection rate, do you mean like outbound dialing people or do you mean show rates to appointments?
Both.
Okay. Yeah, I've had like maybe two of the appointments that have been booked show up. Um, and then, you know, I'll call the leads right as they come in twice and um don't usually get many. Um, I've also experienced something pretty similar with my leads, and I I did uh reach out to Felipe, and he helped me kind of narrow down some of the states that weren't having some better connection rates.
I feel you, Molly. I um this is my first time using your guys' system with leads, but I've had leads for eight years now, and it's just it is strange to me like, you know, calling the leads right away, texting them, having the ISAs call, book the appointments, either no-shows or they don't qualify or they just like completely ghost me after the first initial outreach, so it's it's strange, not sure what to do about it.
You think, Mr. Tai?
Uh, I think I just I'm I'm buying enough leads to where I can focus on the people that are engaging right now; that's just my that's my mindset, like I'm just trying to I'm trying to again make it impossible for me to not have good weeks or good months, right? Um, and guys, I did I've done 20 what I did 20K yesterday. Um, I also had six no-shows on my calendar, so three out of uh 10 people showed, and I closed all three of them. Uh, one day was like the same thing; I had 12, I talked to four people and closed two of them. Um, it's a numbers game uh when you're when you're these these are people that are opting, especially if they go through the survey and book book on your calendar. Um, they're they're answering four or five questions on the lead form, they're answering eight on the survey, and then they're answering like three or four on the calendar, so it's not like my thought process is always if they didn't show or they didn't answer right now, it's just something happened; it had to happen. They were serious; they they filled out all this information; something had to happen, so I'm just going to stay in front of them until I can reach them at a time that's good for them. Um, but the crazy thing about life insurance is is you don't have to sell that many policies to put up crazy numbers, and so for me, it just all boils down to a numbers game, I think. Um, on the pickup rate specifically, Molly, are you using Wave or Hot Prospector?
No.
I think that might be something that I'll try. Um, I have two cell phones; they both have Florida area codes. Um, I don't know if that has anything to do with it. I I don't actually am not licensed in Florida because I couldn't get down there to get my fingerprinting done, so I don't sell to Florida leads, but I have a Florida number.
Okay. Yeah, I mean, it's definitely making a difference, but it's never huge. So like all the stuff that we talk about and like connection rates and all these little small percents, it just adds up over time, or if you're like Tai and you get a crap ton of leads, so yeah, Wave and uh Hot Prospector, if you guys want to reach out to us in Slack, that definitely improves connection rates because it's calling from a local presence number, and just so you guys know like what average is, I think most power dialers you'll get like a two to three percent positive response rate, and I think that's trash. So like if you dial 100 people, you get like, excuse me, two to three pickups. When we've been using Wave and Hot Prospector, we've seen it as high as 20 percent, but it definitely doesn't stay there forever, so it's normally around like 10 to, so for every hundred dials you make, maybe 10 to 15 people pick up, so that's pretty average, and then I just think doing sales for eight years, the the book on the booking thing with no-shows. Um, I don't know what you specifically do, Tyler, but I would just treat him as like a warm lead. I would almost like expect them not to show up because like life insurance, the problem is I don't think it's the lead; I think it's like what we're selling, and people can easily put it off, and they want to, so I would just call them beforehand and treat them like a warm lead, and then like Tyler said, you you have the appointment as a fallback to annoy them again at the scheduled time, but I would still treat it as a warm lead and try and go out and get them beforehand. So like if they it's Wednesday, they book for Friday, I'm just going on to call them today.
Yeah, and and that that's exactly what I do. Um, and like I told you guys, for those of you that were here at the beginning, um, when I didn't do that the first week, I had three people tell me that they had just gotten a policy the day before, so that kind of sucked. Um, so yeah, treat treat those appointments like leads. By the way, there's a saying in life insurance that appointments are disappointments, and that is unbelievably true, like it's they're great to have; you got a calendar full of appointments, you can, but at the end of the day, um, they're only as good as the ones that show, so just, you know, just have that mindset and work your leads; treat treat every appointment like a lead, and you'll see more success, but yeah, the Wave thing is going to help a ton for just the local presence feature alone; that's a great line, Matt.
I agree with that. Uh, Julius, America pays on on uh it's technically on issue, but like if well, actually, they say it's on issue, but it is on approval, so like if you write a policy today and it's postdated for next Monday, you you're going to see that commission hit the next day. Okay, so because I know the I Mutual Raha is like the next day immediately, so is that you said that? So that's kind of is that more along the lines of America? Um, I know like amam does like 50/50 or something. Um, so is America more of like if it's like a month later, you know, is that is it going to be like when it issues when they when they when it clears the first premium like an AIG or is it more of a mutual?
I don't think I've ever had to postdate one for a month, but I have had one that was like two or three weeks, and it did pay out the next day, like as soon as I wrote it and submitted it, if it was approved, it paid out the next day. Mutual for me, Mutual for me is always I never get paid out next day on Mutual; it's always like a couple days after the actual policy is issued, so I don't know if that's just the way uh I don't know if it's like that for all you guys, but that's how it is for me.
Sure. Okay, thanks. But yeah, Amero's nice because they do now they are capped though on the advance; it's like 2500 um on the advance; the rest is paid out later.
Uh, Christian, what's up?
I'm just curious; I hear a lot of uh I with moo um what are what are your experience or what are um people's thoughts about Ethos instant IUL?
I hate Ethos.
Yeah. What are your reasons for that?
Um, they have screwed up so many of my clients. Uh, I had a client who's a doctor making $400,000 a year, and our premium failed through Ethos, and like it definitely shouldn't have, and then Ethos, you know, sent us a form to get filled out and resend it in. I sent it back in; they didn't process it; her next premium fails again; she lost her policy; that was like a $4,000 premium that I lost because the client was just pissed off. Um, and then um what are their customer service is terrible; I hate having to call Ethos agent hotline, so I just try to avoid it if if at all possible. Now I have I have written a few through there just because of the higher coverage limit, um, but actually Mike and I were just talking about this now; FNG's Everlast is about to go up to a million, and that's going to be instant approval, so um if you do need that higher limit, you can use FNG now instead of Ethos.
Awesome, thank you.
Yeah, I've had nothing but terrible experiences with Ethos, so the one good thing about Ethos is true stage whole life that goes up to 100,000 for, you know, older unhealthier clients, but yeah, aside from that.
Audrey, what's up?
Um, I am I've been looking into the Wave dialer, and I'm just trying to get it set up; maybe this is a Hunter question, but um when it's asking to select your unique Wave number, should I select the area code of my phone number that I already have through the system, or should I just pick a new area code from a state that I'm getting leads from, or does it really matter?
I don't think it matters. We'll we'll message you in Slack because if you want the local presence feature, I think you got to get more numbers anyways, so we we'll help you set it up though.
Yeah, okay.
Yep. Yeah, just on on that too, Audrey. Um, is anybody here like dialing out of Go HighLevel, the CRM?
I am.
Yeah, I think I mean, I've been using Go HighLevel for a long time; I've tried everything; there's not like anything we can do past a certain point where you guys are making enough dials. If a carrier ever flags you a spam, like we do everything all Go HighLevel; it just kind of doesn't matter, and it's just kind of like a matter of time until you get flagged as spam, so I would do anything like dial from your personal cell phone. Caitlyn, put in Slack; you guys can go get caller ID on your cell phone if you wanted to dial from your cell phone, so like it'll say your business name when you dial; you can use Wave; you can use Hot Prospector, but yeah, I just think Go HighLevel is an amazing CRM, but I think it sucks as a dialer.
Yeah, I just I mean, I just dial through it just because it's easier than me typing in the phone number; I just click on the client's name; I click dial, and I dial through it; they at least recognize the number that I've been texting from. Um, um, but yeah, I haven't I haven't really found like a lot of success with dialers before, and I've also used Go HighLevel for five or six years now, so yeah.
Um, Wave then.
Okay, well, I I'm willing to give it a shot for that seven-day trial, see how it goes.
Yeah, yeah, just do that, but um Wave integrates with Go HighLevel, so you can still sit in the CRM and see all the contacts and just PR press a button and dial through all of them; it's it's the easiest out of all of them. Hot Prospector is amazing; it's just in my opinion, uh, sometimes it can feel like overkill because there's so much stuff you can do. Okay, it is amazing though, but yeah, awesome. And then just on that note of Everlast, Tyler, is that what you're using to write most often for the cash value or do you write Path Setter too, just because Everlast is generally a little bit more death benefit focused?
Yeah, Mike writes a lot of FNG; I haven't to this point, but I am okay now. So Mike is the FNG guy; um, he was the NLG guy for a while, but yeah, they've gotten terrible lately, but yeah, FNG, the Path Setter is the cash value focused product; the Everlast is more death benefit focused; their caps and their participation rates are a little bit lower, so the cost of insurance is less. Um, so if you're writing FNG, you want to write the Path Setter product; that's more of the cash value vehicle, just for FYI.
Thank you.
Oh, Craig, did you start on Wave? Do you like it?
Yeah, we started on Monday with it, and uh, actually, uh, it blew through about 100 calls in, you know, less than 30 minutes; it was awesome, and and picked up two appointments for it, so uh cool; that looked really promising, so that was that was pretty good, going through some of the older leads uh the new leads that come in right away; we call those immediately with from our cell phone to try and reach those, you know, those two calls, and if we don't reach them, then we just put them on there that way, but uh, we've used it two days now, and it's it's been very very exciting to help help, and I think Tyler, you know, you said something really important; it's this is a different mindset, you know, I've been doing all holistic planning; people come to our office through workshops; we meet in person, and uh uh, you know, this a little bit slower of a process, right? This is this is an exciting time for us in our agency, and uh, we're incorporating both; we're still doing our holistic plan, but then uh this is pretty fun for us uh to to tackle this, and and again, you know, a lot of people on the call here have had policies drop off. Um, I hate losing I hate losing anything, uh, but I just keep reminding myself if I can go one for four, um, I'll be in the Hall of Fame, so yep, that's it; you just got to look at the grand scheme of things; that's why like I don't I mean, don't get me wrong, if I 10 no-shows in a day or 10 cancellations in a day, like I'm I'm not in the best mood in the world, but um, then I close the next people I talk to, and I'm, you know, backfilling unstoppable, so uh that's just um yeah, just a numbers game.
Did we have any other questions here? Did we miss any from the form that was filled out prior?
I think we got to almost all of those.
Okay, let me pull it up. Yeah, I'm pretty sure there were some objection stuff, but we kind of covered how to ask the questions to cover first. Um, how do you keep them interested if they're not approved for I in general?
That's a good one; that's a hard thing to do; if you sold a Ferrari and trying to downsell them into a beat-up Honda Accord, very hard to do, so I try to get all those health questions out of the way as early as possible so that I don't sell them the I at all. Um, and if it's something that's on the, you know, on the fence, I let them I'm trans, hey, you know, I'm not sure about this; this could be uh this could result in us getting declined, and I'm I'm setting those expectations to know that we might have to pivot. Um, but if at all possible, if there's anything that I'm like this is going to be a knockout, I am not talking about the I at all; like I'm immediately trans, you know, changing that call to a whole life funnel expense call. Um, now if it's something where they're already properly insured, they've got coverage, they're looking at this for retirement, then we can look at getting the IUL on, you know, a spouse or something like that for the retirement aspect of it, but yeah, it's it's very difficult to uh to pitch an IL and have to tell them they can't qualify; you got to go to a $50,000 whole life.
Okay. Lynn asked what carriers offer to decision, and when do you use that option?
Mutual of Omaha and uh Ethos and then I guess now FGS.
Yeah, Corbridge. Um, the Tony Corbridge is is not they it's just whole life, right? Or no?
Yes, it's whole life; guaranteed issue whole life.
Cool. Yeah, I've never I've never written through that guaranteed issue, and they also have accelerated, so a TransAmerica as well, one of, you know, highest. Um, I think it's up to 50,000 final expense.
Perfect.
Is Len on this call? He's the one that asked the question.
Okay, I don't think so; he'll watch. Those are the express carriers if I'm using them if basically unless it's an absolute like, you know, some super custom structure that I cannot get with express, but I dropped the deal like two Saturdays ago where the woman's going to be putting like 22 grand um a year, and her Target Premium is like four. I explained to her she wanted to put in more, and I explained that I like, hey, we can definitely do she came in about no medical exam, so I explained, hey, we're kind of capped on what we can do with no medical exam, but if you want to go through full full medical underwriting, we can get you more, or whatever; she was like, no, let's just do the express; I'd rather get something started now, and we could always add on later, right? Said yes, that was that. So if I can write it express, I'm writing it express; some people are going to frown that I like getting clients protected and secured today. Um, the way that clients fall off, if you submit full apps, they don't go through the exam; they get cold feet, whatever; if I can get them secured today, I'm doing so. Now if it's not in the best interest of the client, like if it's truly a cash value focused call and they already have enough coverage and they're looking to put a ton of money in, then that's when I would look at like FNG or you know, not G because I hate them.
Why do you hate them?
Because they screwed my they screwed my boy Mike, man; he submitted like 21 applications and got 18 declines, and then they terminated his contract; they oh okay; that was a while ago though.
Yeah, I was like, man, what the hell am I doing wrong here? But yeah, I don't know, but uh, and then some of those guys, he's like some of those same client profiles he's put in with FNG, and they've gotten approved within like a week, so well, it's because NLG was using LexisNexis, which was checking their credit, so if a client had bad credit, they were also getting declined; they were doing a lot more in-depth on their background checks, so that's why they've in recent months like our company; we don't contract with NLG anymore either, except for like rare exception, but yeah, their their issue and approve rate was like in the 20 percent; it was terrible.
Maybe I gotta change because I'm doing a lot of NLG; I'm getting NLG don't to NLG.
Yeah, LG. I think I'm thinking about creating a chant inside of our own agency where we just chant screw NLG every morning before we get started for the day; that's how I feel about that company; them and Ethos, both both companies can kick rocks; kick rocks.
Yeah. All right, cool guys; anything else? I gotta I gotta hop off for a call; any last questions here?
Thanks, Tyler.
Take care, everybody.
All right, see you guys then.
Bye guys. Thank you everyone.