Ex-Dates

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What is an average number of ex-dates for a producer to obtain on a weekly basis? These could be from phone, in-person, or a combination. Also, consider this a new producer with no book of business and a small list of existing ex-dates to be worked, and no lead generating set-up.

thanks!

[charlie@beacon]

Hi Squares

That really depends on what the producers goals are. in my opinion if you could determine the target industry and identify the xdates ahead of time, it would make it easier to set the appointment with the viable prospects.

I have an article that might help - email me if you want a copy charlie@beaconmarketing.net

Use this formula
From Suspect (raw name from a reputable list source like Dunn &Bradstreet) to prospect (xdate after speaking with decision maker) about 30% will be interested (remember to ask about their decision process)
From prospect to Appointment (Calling 120days from each xdate) 10-25% should convert into a an appt
Appt to sale (your numbers here)

Hope this helps

Contact me if you need help in building a database of xdates by specific industry, premium area.



Charlie Tan
Beacon Marketing Group
1101 W. Struck Ave | Orange, CA 92867
 Tel: 714.628.1760 x208 | 866.580.4264 |  Fax: 714.333.4660
Email: charlie@beaconmarketing.net | www.beaconmarketing.net

[policyman]

My opinon is that x-dates don't do any one any good except fill the pockets of telemarketing firms and give mediocre producers "hope" that they are going to land the big one any day now.

A good producer or telemarketing firm will get the appointment regardless of the x-date. If you can find a telmarketing willing to be paid on an "appontment" basis only, then that's a good deal. They are few and far between however.

If you go the x-date route you look like all the rest of the agents. Wouldn't it be better to go in off x-date, build the relationship, get a BOR now if the insured is unhappy or control the quoting process when that time comes?

[charlie@beacon]

I can see where you are coming from using that approach - certainly uncovering "pain" is important specially when weeding out prospects no one really wants to work with like the"tire kickers"

What has your conversion ratio been? We work with our clients on a per appointment basis

Call me if you want to discuss this further

Charlie Tan
Beacon Marketing Group
1101 W. Struck Ave | Orange, CA 92867
 Tel: 714.628.1760 x208 | 866.580.4264 |  Fax: 714.333.4660
Email: charlie@beaconmarketing.net | www.beaconmarketing.net

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Hmmm. great answers, thanks. I was wondering more on a weekly basis, like if a producer is making their own prospecting calls, what is a reasonable amount of ex-dates to get in a week.....50? 75? 100?

[charlie@beacon]

How much time is the producer putting into the calling? From experience calling 20-25 prospects per hour should yeild speaking with 2-3 qualified prospects.

[jimmyr1978]

My opinon is that x-dates don't do any one any good except fill the pockets of telemarketing firms and give mediocre producers "hope" that they are going to land the big one any day now.

A good producer or telemarketing firm will get the appointment regardless of the x-date. If you can find a telmarketing willing to be paid on an "appontment" basis only, then that's a good deal. They are few and far between however.

If you go the x-date route you look like all the rest of the agents. Wouldn't it be better to go in off x-date, build the relationship, get a BOR now if the insured is unhappy or control the quoting process when that time comes?

Good in theory, and it does work sometimes. However, many companies won't BOR mid-term AND most insureds don't start thinking about it unless they're 2-4 months out from the x-date. Some companies require a cancel and re-write, which can cause minimum earned premium issues if it's in the E/S market. It IS good to call on folks all throughout the year, but focus your sales/marketing efforts around the x-dates. Just my humble, opinion.

And, Charlie, I just started using your firm after interviewing several. Sean and Brandon know their stuff, and your per appointment contract basis is the most attractive in the industry. It's too early to judge the program, but so far, so good.

[hfiagency]

Jimmy,

Was wondering if you could give us an update on the program you mentioned now that it's well over a year later? Are you still using them? How did it work for you?

Thanks,

h.

[jimmyr1978]

Jimmy,

Was wondering if you could give us an update on the program you mentioned now that it's well over a year later? Are you still using them? How did it work for you?

Thanks,

h.

We renewed our contract twice so far, and the ROI has been solid (6x ROI in year one alone). We have a niche commercial target with 800+ leads and x-dates in our well-defined region. Our firm supplies the list, with supplemental leads and information supplied by Beacon. Beacon is not perfect, but they do a good job, and I will continue to use them for our niche business. The close ratio is much lower than appointments we generate for ourselves, and occasionally there are invalid appointments - Beacon will credit you if the bad appointment is their fault. Sometimes, it was our poor direction or information that causes a bad appointment, and I do not request that Beacon refund me for those.

I know other agents who use similar services, with varying degrees of success. The key for success is: 1) Defining your niche and generating a very good list in advance. Bad list = very bad program; 2) Providing Beacon a wealth of information about our program and setting parameters about what constitutes a good appointment or not; and 3) Refining the program as we go along.

The other key is that, for our program, the average account revenue (not premium) is roughly $5,000, which allows us to close fewer accounts and still maintain a strong ROI. First year close ratio (appointment-quote-bound) has been 10% for the Beacon program, compared to 25% for our appointments we set ourselves. We typically get an opportunity to quote 50% of the accounts, walk away from 25%, and do not get an opportunity on the final 25%.