« A new month | Main | Tony Parinello's new book »

October 04, 2004

Comments

Please note, this is no longer my primary
email address. If you are trying to reach
me, please contact my helpdesk and
provide your full contact info so they
can forward it to me:

http://www.nevercoldcall.com/helpdesk

Thanks, and talk to you soon!
Frank Rumbauskas


***Follow me on Twitter***
http://TwitterFrank.com

Learn the secrets of Google AdWords:
http://www.adwordsinsidesecrets.com

Yes, these companies are notorious for teaching the old-school ineffective sales methods. Financial services is just like insurance in that they want you to call 100 people you know and then cold call for the rest of your life.

Most people don't know this but I own an insurance agency. I've learned the hard way that most insurance people have been trained ass-backwards so I strongly prefer to hire agents with no prior insurance experience.

In fact we just had to let someone go after he refused to sell the way we taught him and instead insisted on doing what he was always taught. We provided him with over 20 qualified leads and he only got one appointment from them and no sales. He blamed it on the leads which he called "horrible." Another agent called 12 of those leads yesterday and got 8 appointments from them, including one sale over the phone WITH NO APPOINTMENT doing things our way instead of the old-school way.

It amazes me how people continue to insist on doing things "their way" and staying broke as a result.

Frank

Hi Frank,

I just got off the phone with a financial services recruiter. She wants me to come work for her company as a rep.

I'm starting a Marketing Coach business, targeting financial planners and other sales professionals in my area. I took her phone call as an opportunity to do some market research.

I asked her why the turn over rate for reps in their industry was so high and she didn't really have an answer. I suggested to her that the sales training they were getting was "old school" 20th century methods. And that this might be one of the reasons.

Her answer was "we provide extensive training to our reps I don't believe that's it" What do you think?

I'm sure you won’t be surprise to find out that most of their reps are using cold calling as their main prospecting strategy. Welcome to the 21st century.

This is not a small company, it' probably the biggest in Canada in the industry.

I sure would like to know the details on what kind if sales and marketing training Financial services reps get. So I can position my services to fill the gaps.

Any information would be greatly appreciated.

Thank you.

Thanks for your input, I'll see if I can put you in touch with friends who are or are planning to go independent.

Frank

Frank,

I currently have my health and life insurance licenses, but I got out of it exactly for the reason you state in this post. I got tired of fighting with my district and regional managers about my insistence upon using direct marketing methods when all they wanted me to do was "bang the phones" and "walk and talk". MAN do I hate those terms.

Anyway, can you give me some advice on what I need to do in order to become an independent agent? I didn't even know that was possible, or I would have pursued it.

Thanks!!

The comments to this entry are closed.

Never Cold Call Again
37-PAGE PDF (FREE)
never cold call again book

I agree not to share this information.

More than 80,000 sold
see reader reviews

My Photo
Frank Rumbauskas is a New York Times Best-Selling Author, one of Fast Company's Most Influential People Online, Winner of Business Book of the Year from 800-CEO-READ, The World's Best Sales Trainer, The #1 Sales and Marketing Strategist on the Planet, and a very humble and loving husband, dad to two beautiful daughters, and all around great guy! To get Frank to explode your organization's sales numbers until your head is spinning, your wallet is bursting at the seams, and everyone thinks you're a genius, contact him at frank@frankr.me
NCC_300x250_v2
Cold Calling Is Dead!
Screen Shot 2011-10-03 at 11.36.46 PM
Web Statistics