Advice Pool - Insurance

Although annuity lead scams are out there, agents agree that leads are the lifeblood of their business. No matter how good the products or presentation, without a qualified prospect there can be no sale. Annuity agents also agree there is a vast diffe

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

rence between a lead and a qualified prospect. If you are among the majority of agents who depend on lead generating companies to supply both prospects and suspects, you need to know the standards and definitions of a legitimate lead, a qualified pros

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

pect, and an outright scam.

Leads fall into two categories, raw and qualified. Raw leads are generated according to demographics. Qualified leads are further refined by the subject’s level of interest in you and your products. All leads should be fil

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

tered by specific criteria which often includes age, income, geography and possibly home ownership and marital status. When you pay extra to have your leads qualified, you refine your list of suspects down to prospects.

Annuity lead costs can range f

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

om 10? to 75? for each name on a raw list, up to $10 to $35 each for individuals who have qualified themselves by (a) knowing who you are, (b) knowing what you sell, and (c) agreeing to talk to you further. Internet leads and direct mail/direct respon

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

se leads are often well qualified and worth the investment. Insist on exclusivity (you are the only agent getting the lead) and freshness (the fresher the better). Anything less can be a waste of time.

Telemarketing is still a viable means of lead ge

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

neration, but there are two red flags to watch out for. Beware of companies using immature, inexperienced telemarketers who have an hourly quota to fill or who get paid per lead generated. Ask specifically who makes the calls and how they are paid. An

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

other bad omen is the telemarketing company that charges per lead instead of by the hour. In my 30 years in the lead business I have never found a telemarketing company that consistently generates a predetermined number of leads at a fixed cost withou

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

compromising the quality. Unfortunately, most annuity agents opt for the false sense of security of knowing how many leads they get for their money instead of how good the leads will be. Quality is always the bottom line.

The gold standard of qualif

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ied leads is the preset appointment. This prospect fits the demographic and is further qualified by (a) knowing who you are, (b) knowing what you sell, and (c) agreeing to meet with you at a time and place to hear your presentation. Salespeople of al

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

l persuasions yearn for the days when they can leave prospecting behind and just do what they do best: sell and close, sell and close. But this yearning often overpowers better judgment, and many promising careers have been cut short by preset appoint

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ment programs that sound great but just don’t deliver.

Ironically, the preset appointment program I hear cursed most often is the one promoted by the highest grossing field marketing organization in the country. Every agent I talk to (that’s 100%) de

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

cribes them as a complete waste of money. One agent told me he was quoted a fee of $5,614 for 40 appointments, of which only 25 would be replaced in case of a no-show. As expected, their standard operating procedure is to use immature, inexperienced t

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

elemarketers who have an hourly quota to fill or who get paid per lead generated. They also charge per appointment instead of by the hour.

In all fairness to legitimate annuity lead producers, however, there are three things an agent must do with eve

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ry lead or appointment that often get neglected. First, assuming the leads can be emailed or posted to a web calendar as soon as they are generated, the agent must call the prospects and confirm the appointment time, place and date. Do not talk produc

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

t. Just confirm and show up.

Second, if you purchase direct mail/direct response leads, do not take the lazy approach of calling for an appointment. It is imperative you use the Drop-By System. If you try to skip the work by calling for an appointmen

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

, you are just another junk phone caller – even though they signed the postage-paid card and mailed it back asking you to call them. Your appointment setting rate will struggle to reach 20%. But if you follow the Drop-By System to the letter, your app

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ointment setting rate will soar to between 60% and 80%.

Third, before you spend any money on annuity leads or preset appointments (or before you use up the free leads your marketing organization gave you as a recruiting bonus), make sure your present

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ation and close are well rehearsed and brightly polished. I often hear agents say, “Just give me someone to talk to, I can sell anybody.” The next thing I hear from them is, “These leads stink!”

Annuity lead scams are out there. But fortunately, ther

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

e are enough good companies to keep faith (and production) alive. If you want to report on an exceptionally good, or bad, annuity lead generating company you’ve had experience with, please drop me a line by clicking on one of the links in my bio below

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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The Manner in which you name your Web Pages do effect the way they are Ranked. With the Pseudo Directory method you keep all your files in the root Directory you just name them using the Optimal naming rules for Page Ranking.

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