15 Ways to Scale Your Sales with Matt Mungia – Ep 001

15 Ways to Scale Your Sales with Matt Mungia – Ep 001

Written by Glen Shelton

Glen Shelton launched Lead Heroes in 2015 after noticing a lack of quality and service among telemarketed lead providers in the insurance industry. As president of Lead Heroes, Glen actively manages a call center with real people generating quality insurance leads. With processes designed to improve efficiency and lower costs, Glen helps maximize ROI for agents selling Final Expense life insurance and Medicare Supplements to seniors.

September 21, 2017

For the first episode of our new podcast series, “The Heroes Huddle with Glen Shelton,” we are interviewing Matt Mungia of The Insurance Squad. He’s one of the 35 agents who collaborated with us on our book, “How to Qualify, Present & Sell Final Expense & Medicare Supplements to Seniors.”

Anatomy of a $10,000 Week

Matt starts off talking about his popular video, “Anatomy of a $10,000 Week,” which explains what it takes to make $10,000 in one week as a Final Expense agent. The two main takeaways are:

  1. Increase the number of leads you’re working
  2. Be willing to meet the leads when it’s convenient for them (not you)

Matt says that if you increase your activity by buying or generating more leads, it leads to more presentations – and more presentations lead to more sales.

Matt Works the Math

Increasing your Final Expense lead flow will undoubtedly bring you sales. But how is Matt able to bring in over $500,000 in premiums in one year (roughly 600 life insurance applications)?

50 Leads = 25 Appointments = 20 Presentations = 15 Applications Per Week

Average Commission = $600 per year ($45 per month premium)

$600 X 15 = $9,000

Don’t forget to factor in prospects’ spouses, which easily pushes your commissions over $10,000. This doesn’t take into consideration cross-selling your clients a Medicare plan, or generating referrals – which can increase your commissions even more!

15 Ways to Scale Your Sales

Matt shares 15 tips to help scale your sales and make $10,000 or more week as a Final Expense agent. Check out the video to see all 15 tips, and leave a comment to let us know what you thought about the podcast. If you have an idea of who we should interview next, leave your suggestions,too.

Itunes

EPISODE TRANSCRIPT

Interview with: Matt Mungia, Owner, The Insurance Squad

Glen: So take me through that. And something that—I’m kind of a math guy, I’m a numbers freak, if you talk to my wife she’ll make fun of me. She’ll be like, “What are you doing?”

I’ll be like, “I’m counting this, I’m adding this,” and she’s like, “Why are you doing that?”

And I’m just like, “I don’t know, I just need to know like what the numbers are for this.”

And something I’ve always been fascinated by insurance is I really feel like, depending on how much money you want to make, you can pretty much just break it down into a simple equation, right? Depending on—

Matt: Yeah, it’s—I made a video about this, I called it “The Anatomy of a $10,000 Week” so I came off—

Glen: This is it, yeah. Break it down for me.

Matt: Yeah, I had just come off of another $10,000 week, and I said, “You know what? I’ve been hearing a lot of people asking like, ‘What does a $10,000 week entail?'”

I said, “Alright, let me break it down.” So $10,000 a week in Final Expense is, I would work 45 direct mail leads a week. I never ordered more than 45. Every once in a while I would also throw in some internet leads; I would average probably maybe five a week when I did average them.

So some weeks I would get around 50 leads, 45 direct mail leads, and five internet leads, and the majority of the weeks I would get 45 leads. And then you get carryovers too, because some people say, “Look, call me next week, alright?” So now you have one less lead this week and one more next week.

But I was basically running 45 leads a week, I was running Monday through Friday, preferably. What I mean by that is if somebody said, “Look, I can only meet on the weekends,” my appointment-setter was my wife, “So can you come out on Saturday or Sunday maybe? Is that possible?” But my wife always knows to say yes. We don’t turn any appointments down, ok? Too many agents are turning away appointments or changing times to meet their conveniences. No, no, no, if you want to get out there and make the most of this, you’ve got to work on their time.

So anyway, Monday through Friday, and Saturday and Sunday if need be. I don’t turn any appointments down, and I work from whenever to whenever. So if somebody says, “Yeah, I can be here, but I’ve got to be at work at 8:00, so you can be here at 7:00 or 6:30?” Well guess what? That’s when my day’s going to start. And on that same day if they said, “Look, can you be here at 8:00 because I don’t get off until 7:00?” Well, guess what? My first appointment’s at 6:30 and my last one—I’m going until 8:00, that’s just the way it is.

And I try to always have five appointments a day, ok, Monday through Friday if possible, but some days I have six appointments, some days I have seven, because my wife will set my schedule, because she made the calls for me, she was my appointment-setter, and this day she might have set up six appointments for me and two people might have said, “Well, call me back later,” my wife calls back later, and they said, “Well, I can meet tomorrow at 6:00,” and so my wife would—she would pencil that in. Now I have seven appointments for the next day.

But I usually try to have at minimum, during that time, during that 500-1,000-plus year, five appointments per day minimum.

Glen: So you were—you were shooting for 25 appointments a week minimum? (02:58)

Matt: Minimum, yeah, absolutely. Now that’s appointments, it doesn’t mean I sat down with all of them.

Glen: Yeah, that’s step one in the equation, right? Step one is—is the appointments, yeah.

Matt: Yeah. Now out of those 20—let’s just say it was a minimal week of 25, right, so out of those 25, five appointments a day, you know, maybe four show up on Monday, maybe I only saw three people on Tuesday, maybe I saw all five on Thursday, maybe I saw one on Friday, who knows? You never know. But my appointment-setter is my wife, which I trained her up, she’s rock solid, so I mean we had more good days than bad. A lot of four out of five type of days.

Glen: My experience, even when I was setting my own appointments, I felt like I was setting usually about half of the leads, if you really make sure you’re chasing these people down. You know, obviously tons of variables in that scenario, but I would say usually you’re going to set about half your leads, and then the set-to-sit ratio that I typically saw, it was about 75 percent.

So when you’re saying you see four out of five, I totally agree with you, and obviously I’ve had those days too, where you set yourself a full schedule, you go out there and you’re like, “Oh, this is going to be a great day, I’ve got seven appointments on the books,” you get home, you saw one person, you didn’t close anything, and that’s just how it is. It fluctuates from day to day, so you’ve got to kind of—again, trust in those numbers.

So tell me about your present—so how many presentations do you think you were averaging on a 25-appointment week?

Matt: Well, if we take a 25-appointment week, I’m definitely going to see on average at least three a day.So you’re talking about a minimum, three times five, so at least 15. And some of those are going to be husband and wife. If I’m in front of you, I’m pretty good. I don’t know, my—I don’t know the exact number, my guess is probably—if I sit down with 10 people, I’m going to sell 70 percent of them, maybe 75 percent when you start adding in the husbands as well, you know, two of them.

The goal is always just to get in front of them, because if I can get in front of you, I’ll probably have a pretty good chance of being able to help you out with something. So at least 15 actual sit-downs, and I know for sure I was averaging right around 15 applications per week during that time. I did take a couple weeks off for vacations and trips that I won the previous year, and so—but I pretty much worked the entire year. I mean, I didn’t stop.

Glen: If you told me you worked half a year and wrote $500,000, I’d say something’s up there, but I would imagine. (05:40)

Matt: No, I went with force. I mean I’ll tell you how and why this all, that year, even came about, this record year. It was like, I think, October of 14, I think it was. I had gone and met somebody that had a monster year previously. What’s this guy doing? So I went and met with him, saw his work ethic and his schedule. I mean he would have 12 to 15 appointments in a day and just pop them off every 30 minutes, pop, pop, pop. I’m like, “How do you even do that?”

He’s like, “Well, you know, you’re going to get no-shows anyway.”

And he would do that two or three days a week. And I said, “Wow.” So basically, you know, I’ve never had a problem of selling, right, once someone’s in front of you, but that’s just work ethic. That’s just drive. So you know, my mentality was: I just need to increase my lead order, increase my activity. I don’t see why I couldn’t do that either. I feel like I was just as sharp as the guy and knew just as much as the guy. That’s not a knock on him, I’m just saying what’s the difference?

And the difference is: he was ordering a heck of a lot more leads than me and he was working a heck of a lot more hours than me. So that’s all I did, I implemented—I started ordering—I think this was like October or November that this happened. So I made it a goal to go crazy, because I look back and I was like, “Man, you know what?” I think at the time I was on maybe 20, 25 leads. I said, “I could be doing so much more, you know, making so much more money. I need to step this thing up.”

I might have been in 25—yeah, maybe 25 at the time. So anyway, long story short, I bumped that sucker up to 45, maybe around Decemberish is when those 45 started coming in and started getting the hang of the schedule and things like that, and my wife had to make more calls obviously as she had more work ahead of her, because she was calling on more leads, and not door-knocking as much either, because we have so many appointments to work.

And I said, “Wow, you know, I think this thing’s going to work out.” And I just went full-force for that entire year and busted my tail. Those are the two main factors that I did, was just order more leads and—you order more leads it leads to more activity.Because I mean, either that or you’re spending that much on leads, you’re going to end up going broke if you’re not out there working them, you know?

Glen: Yeah, you’re all in, right? You’re all in at that point. I think if we could sit here, me and you, and diagnose the last 10 Final Expense agents, or probably really any insurance agents, and the last 10 agents who failed out of the industry, chances are their activity levels weren’t high enough. They weren’t seeing enough people, they weren’t buying enough leads, they weren’t—and again, even if you don’t buy leads, there’s still stuff you can do. I mean, you can set up referral networks, you can knock doors, you can cold-call senior centers. I mean, there’s so much you can do.

So it’s even—I think it’s even more basic than not buying—buying leads I think is great. I read an article the other day; it was talking about how lead generation is—you’re seeing agents and agencies, they’re able to grow their book of business so much quicker by buying leads, but yeah, it’s really as simple as activity. You have to have enough activity.

So I want to go back really fast before we move on here, back to your numbers. So you’re getting about 50 leads a week.Your minimum, we’re setting hopefully 25 appointments, maybe more.You’re making a minimum of 15 presentations, and we’re hoping that that leads to about 10 sales. And that would be 10 appointments sold. So you’re probably writing a lot of couples in there, I’d imagine, right? (09:34)

Matt: Yeah, absolutely. And like I said, those are minimum, so—because I went back and I looked at some of those weeks. I keep those charts. When I make a sale—I’m old-school, so I write everything, paper and pen. I mean, I have all the papers from that year, and yeah, I went back and looked at a couple of weeks, a few weeks, and I was averaging 15 sales a week, 15—somewhere in there, because I think I did—I wrote over 700 applications that year, and I want to say I was closer to the 750 mark, because I did take a couple weeks off. So at least 700 applications though.

Glen: No, I think if you’re saying 15 apps a week, I think that fits pretty perfect. So, you know, if you’re closing 10 appointments, maybe half of them are couples, yeah, I mean that totally sets you up for that $10,000 week. And then just scaling from there, rinse and repeat, right? I mean, don’t stop what you’re doing. It seems silly to say that, but I talk to agents all the time and it seems like sometimes they’ll let their foot off the gas. They have one good week and they’re like, “Oh man, that was awesome,” and then it’s, “You know, I’m going to go do something else now.” Or they change their tactics.

You know, don’t stop what you’re doing. If you’re writing 10,000 or 5,000, whatever it is, if you’re seeing success like that, do not stop what you’re doing. Rinse and repeat.

Matt: Yeah, see, but here’s another thing that people don’t realize. Most agents don’t realize there’s a lot more to that system and there’s a lot more to that number as well. So in other words, if I go into a home and I only have three companies to choose from, and they have COPD and I don’t have any COPD carriers, I can only pitch them a high-priced policy that has a two-year waiting period. That client might not be able to afford that or want a two-year policy waiting period, so they might tell you to go take a hike, “let me think about it,” type of thing.

Whereas that same person, if you have all the right carriers at your disposal like I do, I can get that person first-day coverage, I can get them at a price that they probably want. So I’m making more sales just because I have more carriers to run with.

Just like I’m making more sales than the average guy up there because most lead companies are mailing age income—data income of $0 to $50,000 of income. Well, my age has—my leads have filters on them, income filters of $15,000 to $60,000, so I’m sitting in front of more qualified prospects that can afford what I have to offer. You know, so I’m not wasting as much time and weeding through…weeding those people out, rather, I should say.

So again, all of those little things make up a year of $500,000. And that’s also an appointment-setter. My wife, she has a vested interest in me, right, doing well. She gets more shoes and more jewelry if she makes more appointments, and I’m making more sales.

So again, all of that, all those little things that people don’t think about. Like, she’s an awesome appointment-setter, I trained her up, you know, and now she trains some of my appointment-setters. But all those little things, you know? So the quality of training, too. You’ve got to have a mentor that’s been in the business, you know, has been in the fire to help you out. You’ve got to have the amount of carriers you need.

So instead of, you know, Joe Blow agent that just walked out of that house and I walk in, because he’s selling up something for $80 with a two-year waiting period, and I go in there and say, “Look ma’am, it’s $55 and immediate coverage.” That same person, I make a sale to and Joe Blow doesn’t. You know, all of those little things add up.

And we actually have a guy on The Insurance Squad right now that’s on pace to possibly beat my record, and all he does is implementthe same strategy. So him and his wife actually came to San Antonio, he trained with me in the car for a couple of days, I think two or three days, and then his wife sat here in the room I’m sitting in the room right now while I’m talking to you, we call this the war room, this is where my wife makes all my appointments for me. And his wife sat here with my wife for two or three days.

So my wife trained her on the phone; he trained with me out in the field.After two or three days, they went back to their place, their home, and implemented the same strategies.He’s on 50 leads a week, his wife has her script down now, you know, he came and rode with me, and this guy’s been in the field for—he has been in the business eight years now. I mean, this is not his first rodeo, but first rodeo for Final Expense. You know, it’s a different system. He came from the mortgage protection market.

And long story short, he’s—and he works his tail off. But he implemented the same strategy, he has the same amount of carriers as me, his appointment-setter is his wife. I’m not saying you have to have your wife as your appointment-setter, we have some good appointment-setters here, but again, you have all those at your disposal. The amount of carriers, the amount of leads. So the whole system has to work in order to hit a number like that. Yeah, there’s a lot of little things that you have to have working.

Glen: I totally agree with you. One thing you said earlier that I thought was awesome, when you were talking about keeping your schedule as open as possible to meet with these prospects. I remember with—you know, when I was selling mortgage protection, I kind of had the same idea, I had the same kind of realization where if I can meet these people whenever they’re willing to meet me, whereas there’s all those other lazy agents out there who—they’re wanting to work Monday through Friday, they want to be home by—you know, whatever it is, right, where they’re keeping their schedules closed—not that there’s anything wrong with that, but when you’re willing to keep your schedule open.

I remember specifically there was one gentleman, he’s like, “I can only meet Sunday morning.” He’s like, “I’m only available Sunday morning, and I’m not available any time the rest of the week.”

I said, “Fine,” I was like, “I’m happy to sit down with you,” and I ended up writing a deal out there because the other agents who had contacted him, they weren’t willing to meet with him on Sunday, you know? So yeah, little, little things. (15:50)

Matt: So a lot of it—you’re willing to do things that other agents aren’t.

Glen: That’s it. Driving a little further. All these little things, like you said. You know, driving a little further maybe than most agents would, meeting people at different times or different days when most agents wouldn’t, you know, buying more leads while most agents won’t do that. All those little things, you’re totally right, it all adds up, it’s a total trickledown theory. The more things you’re doing that others aren’t going to do, you know, you’re going to start reaping the rewards. I totally believe that.

So I mean—so you’ve got your wife setting appointments, which I think is brilliant. Personally, I went through three different appointment-setters and I feel like I had success on different levels with all of them. The problem is, you know, when you’re spending money on leads and they’re not financially invested in those leads, I feel like there can be a big miss as far as quality of appointments or amount of appointments. You know, that’s where I think you hit the home run with having your wife as your appointment-setter, is she’s financially invested in those leads just as much as you are. She totally understands that concept.

Matt: Yeah, it’s justwhen I came into Final Expense, I was trained by somebody that, you know, just worked a totally different system. So I started off this business door-knocking 100 percent of my leads. I said—it’s not that door-knocking is bad, it’s just that it’s just not efficient. There’s no way you’re going to write $500,000 door-knocking; it’s not going to happen. I don’t care who you are, I don’t care what year it is, it’s not going to happen, right?

So I said, “Man, there’s got to be a more efficient way to do this thing.”

Actually my wife was working at the time, and anyway I said, you know, “Man, it seems like when I get in front of somebody, I can make the sale,” you know, but for years and years and years, I made calls, I made my own appointments, my own calls.And I said, I told my wife, I said, “Look, I think we can make this work. You know, you can quit your job and just set appointments for me, and it won’t take but an hour or two per day, I wouldn’t think.” You know, this was all unknown stuff, right. I mean, we’re just kind of guessing and planning here. You’ve got to understand, I’ve been door-knocking my entire life or I set my own appointments.

So long story short, she—yeah, that’s what happened. I mean she quit a job that she was making some decent coin at, and we took that risk and we took that leap of faith and jumped, and it turned out beautifully for us. So I mean we were just hoping to maybe minimize her—not getting crushed so much by her leaving her job. As it worked out, we made above and beyond, you know, what she lost from her 9:00 to 5:00 whatever.

Glen: Really fast, off the top of your head, what is the script that you typically usewhether you’re setting appointments yourself, or if you’re having your wife set appointments? What do you guys typically say on the phone for that? I think that might be— (18:42)

Matt: It’s nothing special. And to be honest, since my wife’s been calling for years now, I wouldn’t even hardly know how to begin the script. But it’s got to be something, the most basic of scripts that anybody says, like, “Hey Mrs. Jones, we have—you sent in this card, you know, it looks like here your age is whatever, 67, and your husband is 64. Well, I have a licensed agent in your area.He’s going to be there tomorrow to get that information out to you.It’ll take about five to seven minutes, and we’ll let you know what your options are, since you do qualify for this. When would be a good time for him to swing on out there and get this information to you?”

You know, that—something simple, basic, there’s really no magic button on that kind of stuff, and that’s just me recalling years ago what I used to say, similar to that effect. If I had to start—if they told me I’d have to start calling again tomorrow, I’d have to go back and look at my old videos and see what I actually said, and I’d be just fine.

Glen: No, I think—just one thing I wanted to hit on there, I mean, just keeping it simple. When I was trained as a mortgage protection agent, I was trained to do a lot more qualifying on the phone. And I almost kind of cringed thinking back now, because, you know, the appointment-setting script that I recommend to agents and the one as a Final Expense agent that I would use just really brings up the point.

I mean, if you’re trying to sell face-to-face, I personally don’t see the value in doing a bunch of qualification for an appointment. You know, most of these people, once you sit down with them, once you get in front of them, you can qualify them as much as you want. And then if you’re trying to get paid by writing an application face-to-face, you can’t do that over the phone.

Now, if you’re trying to sell over the phone, that’s a completely different story to be had, but yeah, I mean, so I always recommend just something really brief.

Matt: Yeah, the KISS method, right? Keep it simple, stupid. I mean, too many agents, you know, especially mortgage protection agents that come over, they’re taught to, you know, get so much information over the phone. You can’t do that in Final Expense. Yourjob is just to get in front of them. Once you’re in front of them, it’s show time, it’s game time, and now you pack whatever questions you need to.

But the good part about Final Expense is that, you know, between the ages of 25 and 85, we have a product, you know. I don’t care how beat up you are, we pretty much have something for you. We have Columbia; Columbia has their guaranteed issues starting age 25, you know. AIG’s up to age 85, so I mean 25 to 85.So you don’t need to know that kind of information immediately. You know, you need to know if they’re between those ages; you probably have a product for them, no matter what their health is like.

So it’s about getting in front of them; that’s the ultimate goal. Once you’re in front of them, now you know, you work your magic and you do your thing.

Glen: No, I totally agree. Totally agree. One other question I had for you about kind of your $500,000 premium year,and you touched on this earlier.You were talking about the different carriers and mentioned, you know, when I first started exploring the insurance industry, I thought, I was like, “Man, this is a no-brainer. I need to be a broker and not a captive agent.”

If you’re a captive agent, your hands are tied.You’re stuck with the products that one carrier has.You might not be priced competitive; you might not have the underwriting to get people qualified.So one of the things I immediately realized is I need to be able to broker different carriers.

And you mentioned this earlier, how that was kind of one of the key parts of your $500,000 year, is brokering different carriers.Would you say you were pretty diverse? Was there one or two that got most of your business? You don’t have to necessarily give specific carriers, I’m just curious on kind of a breakdown of where most of your business went as far as spreading the love. I know there’s probably somewhere—

Matt: I did.

Glen: Yeah, just give me a little— (22:45)

Matt: I wrote, yeah, somebody else had asked me that same question a while back, so I actually went back and counted, so I already know, it was over 20. I think it was like 23 different carriers when it was all said and done.

Glen: Now, that’s a broker. That’s a true broker right there. It’s funny, man, I talk to insurance agents, I talk to brokers, and I’ll be like, “So what carriers?” And they’ll be like, “Oh, I’ve got like two carriers that I offer.” It’s like, you’re not even really a broker at that point, you know? If you’re selling one carrier, maybe two carriers, you know; that’s impressive—23 different carriers.

Matt: Yeah, now, keep in mind, you know, some of these—I might have only written one or two of them, but yeah, I mean I wrote with a bunch of them. Right now my hot ticket, I like Mutual of Omaha. Trinity is always a good hot ticket because they take so many things, but I spread the business out quite a bit, you know?

I came from New York Life, you know, I had one—was a one-trick pony. If you couldn’t qualify for your New York Life, I had to walk away. And so it’s nice to be like, “What’s your ailments? You’ve got this, that and the other? Perfect, I can still get you first-day coverage for a majority of my clients.”

Glen: Yeah, and that’s huge. You know, when you get into a competitive situation, when an agent is following up if these people are talking to someone else, you know, being able to say, “You have the best coverage possible for you. I work with all the carriers.” (24:17)

Matt: Yeah, and here’s another thing is that agents will call me, right, because there’s over 100 agents on the Squad, so I field phone calls all day, and somebody will say, “Well, I’m sitting down with Mr. Jones and he has COPD and lupus.”

So ok, well, we have a cheat sheet that I’ve built with all—so that you don’t have to think too much about all of the millions of carriers that we do have, so it kind of breaks it down. So there’s nothing, though, more frustrating sometimes because it only hurts the agent, and you know, they have to walk away from business a lot of times.

You know, they say, “Well, I don’t have Americo yet, I haven’t signed up with Americo.” And Americo might be the only company that’ll take that person for whatever reason, you know? Or American Home Life, right off the top of my head, Parkinson’s—American Home Life will take Parkinson’spreferred coverage. I think it’s one of the only ones that will take it as preferred. They’re still going to take it from day one, but preferred? American Home Life. “Well, I don’t have American Home Life.” Well, it might cost you that sale, and that sale might be $1,000. You don’t know. So I always say:Get all the carriers you can. It’s better to have them and not need them than to need them.

Glen: Yeah, that’s a philosophy I carry in all aspects of business. You know, I’d rather have something and not need it than need something and not have it, so I totally agree with that.

We touched on this earlier: client tracking. So you’re telling me you wrote over 700 applications? I mean that’s a ton of paper, a ton of just people to track in general. You’re probably getting phone calls. I mean, what were you doing to kind of track these people?

Matt: Old school stuff. Again, I’m archaic when it comes to that stuff, but everything was done pen and paper. Each time I would write—when the day is over, I’d come in and I’d get everything faxed off, and then I log everything in a binder that I have. You know, so I’ll write the day that I wrote the application, let’s just say January 1, 2015, and then I would write the day the withdrawal’s going to be, so I’d say February 1, 2015, and then I would write the client’s name, and then the company I sold, and then how much the premium was. And that’s all done by paper.

You know, so that’s how I tracked everything, you know, and I have cabinets filled in my garage. It’s quite enormous and quite annoying, to be honest. I have to have like a big portion of my garage, two-car garage, one whole car can fit in, the amount of people that have been here and see it, just the cabinets.

So the good part about this is that there’s an app coming out that’s going to help with all this kind of stuff, I’m actually beta testing it right now, it’s called MyMO Pro. It’s short for My Mobile Office Professional, so MyMO Pro. Anyway, and it’s actually going to launch here in the next—probably next 10 days or so is what they said. But anyway, I’m in beta testing for it, and it’s specifically designed for life and health agents just like us to keep track of these types of things, so I don’t have to worry about that kind of stuff; I just worry about selling.

But there’s nothing like it in the industry. I mean, it’s pretty awesome. It has a built-in CRM, so there will be no more writing stuff down. I had another CRM system, you know, that I also use, so I would implement this with writing, then I would implement it into my CRM. Well, this is going to have all of that stuff in it: this is going to have CRM, it’s going to have built-in lead routers, so you can input all your leads into this, and it’ll route the most efficient way.So if you’re a door-knock or, you know, whatever, it’s going to do all that kind of stuff to make it efficient if you’re door-knocking or running appointments.

It allows you to upload your leads into the app, you could even put a picture. Here’s a cool thing, I thought, I was dealing with it the other day. You can put the client’s picture—because I like to take pictures with my clients, like whoever I helped out I take a picture of them. Well, now you can take a picture of them and upload that onto their lead card that’s into this app-type thing, when the number pops up or you call them, you know—their face pops up also, so you can know who your client is, so when you’re talking to them, you know who you’re talking to. Because as you know, we have thousands of clients, and you know, when they call you don’t know who in the world you’re talking to a lot of the time.

Glen: I’ve heard some about this app. I’vepoked around with it a little bit; I’m a fellow beta tester as well. It seems like it could be a game-changer. I mean similar to what you mentioned with your $500,000 year, when I’m writing mortgage protection or even when I was writing Final Expense, my method of tracking or sorting my leads, I would have basically different folders marked per county, and it was like one side was like closed leads or appointment leads, and then the other side was just leads that hadn’t been contacted yet, and based on the county I’m in, I’m working with that folder. It really was, it was a nightmare. So I mean this looks like it could be really big for health and life agents.

I mean, I was talking to Clu from RadiusBob and when you’re talking about a CRM, you know, whether you’re using a free CRM system or a paid system like MyMO Pro or RadiusBob, if you get one more sale per year because you’re more efficient at tracking, it’s going to pay for itself.

So I mean when you think about it like that, I mean, it’s a no-brainer. I mean, be more efficient, stay more organized, you’re going to make more sales, just like what we talked about earlier when you said, “I’m doing all of these little things that are adding up.” (30:15)

Matt: Bingo.

Glen: Yeah, it’s just another one of those little things.

Matt: And I did the same thing, and I’m doing the same thing right now. I’m paying for RadiusBob, my subscription there I think is $15 or $20. I’m paying for FEX Quotes, that’s another $15 or $20. But it totals to about, you know, I think around—I’m paying around close to $80 with all of the little apps that I’m using right now. So that’s another thing about this MyMO Pro app, it’s going to have a quote engine too. So it’s going to have that quoter built in there.

So I’m thinking if I can consolidate everything and have everything into one, I’m actually saving money. I don’t know how much they’re going to put this thing out for, hopefully it’s going to be nice, but it should save me money, because I’m paying about $80-something a month right now on all of these different applications. And now I can just have it in one, and again, be more efficient with my stuff and have it all at my fingertips, because it’s going to be on your phone and tablet and anything else.

Glen: Yeah, I know. And this kind of leads into my final question, you know, future of Final Expense: Any trends that you’re seeing in the industry, just to kind of wrap this thing up? What are you seeing the future holds for Final Expense? Anything as a producer, someone who owns a Final Expense agency? What kind of things are you seeing that could be coming up and changing for agents?

Matt: It’s going to get a little more competitive over time, you know, because right now Final Expense is the hot ticket, kind of like mortgage protection was a while back. So it’ll be more competitive. So it’s super important to get with the right organization to begin with and get a mentor, somebody that knows, that’s been through this Final Expense battlefield, they know what they’re doing. Unfortunately, that’s one of the biggest—it’s not so much a mistake; they just don’t know any better. You don’t know what you don’t know.

Like me, when I first started, I didn’t know who to reach out to or where to go, where to turn, you know?

Glen: Yeah, that 55 percent contract probably looked pretty good. I mean, I started on 60 points, man, so trust me, I know what you’re saying. I know exactly what you’re saying. You know, getting hooked up with someone who knows what they’re doing, I mean, that’s important. (32:27)

Matt: Somebody that has a system in place, they know what they’re doing, they can help you, guide you, they have all the tools that you’ll need in order to be successful, then the rest is up to you, your work ethic, your drive. But I think the industry is going to be strong for a while. I mean, the baby boomers are not going anywhere, at least 10 more years to where—I mean, all the baby boomers are still driving this industry, right? So I think it’s going to be strong for a good while, and I’m just going to ride the wave.

Glen: No, I actually—and this kind of segues too, the book that I co-authored and put out, “How to Qualify, Present&Sell Final Expense & Medicare Supplements to Seniors,” that was something that we talk about a lot. I mean there’s—you’ve got 10,000 people turning 65 every day, that’s continuing for about 10 to 15 years, and then you know, you also have insurance agents who are going to be retiring.

So you have more seniors coming into the market; you have, you know, more agents leaving the market, so I really think it’s a perfect storm for anybody listening who wants to get involved in the senior insurance market. I think it’s a slam dunk, I really do. Whether you’re selling Final Expense, Medicare Supplements, you know, whatever it is you’re wanting to get involved with—I think there’s just going to be a lot of opportunity for the next decade, at least.

And that actually—I almost forgot. So one thing I wanted to mention, too, so staying on track and staying motivated, this is Chapter 10 in our book, and we have you, we quoted you. Our book, we actually surveyed hundreds of agents; we only took the top—I’d say the top 30 percent of surveys we received, as far as their sales process and what they’re doing. And Matt, you were kind of enough to take one of our surveys, so I appreciate that.

But yeah, in Chapter 10, we have you quoted for staying on track and staying motivated, “Carrier trips. Travel is my family’s favorite thing to do. That’s enough incentive to keep me going.”

And I noticed on your website, TheInsuranceSquad.com, you have these awesome pictures of you traveling all around the world with you and your wife; I think there’s one of you riding an elephant. It just looks like you’re having the time of your life. I mean, I’ve done some world traveling, too, and I can totally agree, it’s so much fun, especially when you can do it with a loved one.

Take me through that really fast, too, before we get out of here. Staying motivated is huge, and if you’re doing—if you’re writing $10,000 a week and you’re doing it for a year straight like you did, I mean, you’ve really got to stay on track and stay motivated. (35:08)

Matt: For me, that’s always—travel is, you know, one of my favorite things to do. You know, so you’ve got to find what motivates you. Some people are motivated by money, ok, then have a money goal. Some are motivated by travel. Whatever it is, you’ve got to have goals, and for me, goals are trips. So alright, so if I want to win a trip to Hawaii, let’s just take the Trinity Trip for instance, this year is going out to Hawaii or to Ireland for Mutual of Omaha, you know, then set out that goal.

But goals are super important because when you have those bad days, when you have all those no’s in a row, that’s what keeps you fighting for your goal, and trips are the reward for that. You know, so it’s the reward for all your hard work that you put in for a solid year, and it’s like—you know, it keeps you on track, it keeps you motivated and active, and it gives you something to shoot for when you do have those down days or down weeks, because this business is a roller coaster, and sometimes it’s hard.

So you know, for me, it was always trips. You know, if I wanted to go to—I’ve been to a lot of places, but you know, to Bangkok, Thailand, because a company’s going there. Well, then I put that on track. You know, so if it takes $70,000 to win it, you know, I break it down, how much is that per month? Ok, it’s going to be, I don’t know, $6,000 per month. Ok, now break it down per week. Ok, I need to do, you know, $1,200 or $1,500 because some of it will fall off, a little bit will off, you know, my percent has always been 90 percent or better, typically.

So you’ve got to account for all that kind of stuff. So ok, well, I need to write $1,500 per week with this company, and I get to go to Thailand. How cool is that? And $1,500 a week with one company is not thathard. You know, so I mean, they make these trips pretty darn easy to win. As long as you’re getting in front of a lot of people, so that means you need to buy leads or whatever, or do more senior centers or whatever, you need to get in front of more people, that’s your tracker right there.

And that’s another thing that MyMO Pro has, which I think is pretty cool, is a tracking system. It’s a goal tracker. So it’ll keep you in line, but yeah, you’ve got to have goals and something to shoot for, and trips have always been my incentive to work hard.

Glen: Tell me, do you have any carrier trips you’re going on this year that you won last year? (37:36)

Matt: Yes, we are leaving in about a month and a half to an Alaskan cruise. The unfortunate part is I won another trip, and it’s going to the same darn place, another Alaskan cruise. It’s a good problem to have, but it’s unfortunate. Three different carrier trips all going to Alaska this year, so that’s no fun.

But yeah, it looks like—just about to win or just won a trip to Hawaii also, but that’s coming up in 2018 and I’m on track for some other ones, too. So things are going good here at The Insurance Squad, you know. I think the big thing is the industry is good.Get with the right people at the right time with the right systems, and with the right carriers, right leads, then everything can work out, you know?

Glen: No, I think you’re right. I think this was a really good, really good breakdown of how to scale the business, how to take advantage of putting a system in place, adhering to that system, and reaping the reward. I think you had a really great system.

15 Ways To Scale Your Sales with Matt Mungia from Glen Shelton

  • Matt Mungia
  • Founder of The Insurance Squad
  • Website: www.TheInsuranceSquad.com
  • Blog: Anatomy of a $10,000 Final Expense Sales Week
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