Anyone else doing Primerica?

[Evan257]

Hey guys,

My friend referred me on BBM to an "office job" that turned out to be Primerica lol.

I don't have much networking experience but I've worked only around 2 hours a day and already generated 8 prospects in my first 5 days with my unique method. I don't plan on promoting within my "warm market" LOL. Unless you're good at it and have a huge network of existing business contacts, it comes across as WF style desperation.

Do any of you guys outsource to cold calling teams? I've never started a Facebook campaign and I'm still brainstorming lots of methods. I'm a little unsure of the most time effective ways of generating leads to sell the services to. I plan on getting licensed as soon as I have enough referrals to cover the costs.

If anyone wants to exchange methods or experience that'd be a win-win for everyone.

 

[macdonjo3]

Not that I can see, no. However, it was discussed 2 years ago here: http://www.blackhatworld.com/blackhat-seo/other-affiliate-programs/190173-primerica.html

 

[Magicbeanz]

You have to watch out for state / provincial laws concerning how you recruit / solicit business for Primerica. We're talking financial securities transactions, so laws are pretty strict (up here in Canada, anyway).

 

[jsmash]

Wow, their still around? I remember a friend trying to get me in a few years ago and I found some public info showing how may reps they had (was in the millions) and their total yearly commission payouts. It ended up being that if you averaged out that every Primerica rep makes like $12 per year...lol!

I understand that mlm had a 90%+ attrition rate but that stat is screaming that the people who got in first are sucking up all the profits!

 

[SEOnetic]

Damn. Its a really is a good opportunity for those who know offline marketing.

 

[kideze]

please get out of it now, shits a scam, learned about it in 08, its owned by citibank and all they do it try to get u in bad deals serisouly. You will soon be selling all your friends bad info and services.

 

[Evan257]

Update:

So far, so good. I've been with the company for 11 days and promoting in no more than 1.5 hours/day. Already I've funneled 14 quality prospect leads to my associate. She called me yesterday and was ecstatic that the first 2 have converted. She said "I don't know what the hell you're doing, but keep it up" The flyers method really works.

Once I have a substantial amount of referrals, I'll get licensed and maybe start and incentive offline advertising service.
I may also film "team meetings" and training sessions (if I have the time to go any) and create a video series WSO. I'm just taking a wild guess, but I think lots of WF members are familiar with Primerica, esp considering the sheer number of Canadian/US baby boomers on that forum.

Yes, as one poster mentioned there are millions of FSRs in Primerica but 95% of them are lower quality agents who promote to friends and family, and well.. anyone they come across.

 

[rockong]

I can't believe primerica is still around! I would think that a lot of the population would already steer clear once they hear the name. Guess not.

Good job OP on makingn some conversions..best of luck to you pal

 

[Evan257]

I can't believe primerica is still around! I would think that a lot of the population would already steer clear once they hear the name. Guess not.

Good job OP on makingn some conversions..best of luck to you pal

Yes. The main problem is not the service quality but 'thristy az' reps who pitch it too hard and consequently tainted the reputation of the company. It's a delicate lead funneling game and you need a quality associate to succeed.

That being said if any other reps on BHW are interested in doing a WSO JV hit me up anytime.

 

[Leonard Dollars]

Congrats! My mom actually did primerica for a short period of time and basically left after she got the life insurance license. Its actually not too bad of a deal. You pay $99 to sign up and they pay for you to get your life insurance license. Now she has a much better opportunity on her hands with Lincoln Financial. Any tips? I'd love it if I could help her out with some tips.

 

[Chunky Scum]

My accountant is a rep and has presented me with the opportunity to get on board, and it doesn't seem like a bad gig at all. I'm curious as to how you might be marketing for leads and/or funneling them.

 

[Nick1]

How much are you making?

The woman that tried to recruit me was the top in her office, but strangely she always turned down offers to disclose the amount of her commissions.

Nope, not a good sign.

 

[Evan257]

I just started part time around 2 weeks ago so obviously not much. I'm just interested in building a downline and have already referred 2 people who have lots of prior commission sales and customer service experience. If I keep my prospecting system rolling at this current rate I should have a level 1 downline of about 20 people (It's always expected that at least half will quit within the same year) However, I'm unlike most Primerica agents I'm not referring friends and family I'm referring targeted leads so common sense dictates my retention will be greater. I can't lose this way!

 

[MMG10]

hey evan whats the prospect method your using now?

 

[usdachoice]

Like another poster already stated they are affiliated with CitiBank and for that reason alone I would steer clear. I got my insurance license with them about 9 years ago and really bought into their hype. They are best at recruiting but know very little about personal finances. Their main objective is to recruit more people first and then sell life insurance second. This is a total MLM and like others have stated only the top make any real $$. You would do a lot better going to work for a real insurance company and not a MLM biz that is all about turn and burn recruiting. The biggest thing that turned me off was their constant badgering me to get my friends and family involved. If this was a real company they would push their products not try to get you to bring everyone you know into their doors. Run now before you waste too much time. Odds are in 6 months you will see the light and drop them like the millions of others have before you.

 

[MMG10]

Like another poster already stated they are affiliated with CitiBank and for that reason alone I would steer clear. I got my insurance license with them about 9 years ago and really bought into their hype. They are best at recruiting but know very little about personal finances. Their main objective is to recruit more people first and then sell life insurance second. This is a total MLM and like others have stated only the top make any real $$. You would do a lot better going to work for a real insurance company and not a MLM biz that is all about turn and burn recruiting. The biggest thing that turned me off was their constant badgering me to get my friends and family involved. If this was a real company they would push their products not try to get you to bring everyone you know into their doors. Run now before you waste too much time. Odds are in 6 months you will see the light and drop them like the millions of others have before you.

they're not affiliated with citibank anymore and kinda negative point of view but your right about all the badgering its an opportunity for a select few so don't put the man down you never know

 

[MMG10]

any updates?

 

[Evan257]

Like another poster already stated they are affiliated with CitiBank and for that reason alone I would steer clear. I got my insurance license with them about 9 years ago and really bought into their hype. They are best at recruiting but know very little about personal finances. Their main objective is to recruit more people first and then sell life insurance second. This is a total MLM and like others have stated only the top make any real $$. You would do a lot better going to work for a real insurance company and not a MLM biz that is all about turn and burn recruiting. The biggest thing that turned me off was their constant badgering me to get my friends and family involved. If this was a real company they would push their products not try to get you to bring everyone you know into their doors. Run now before you waste too much time. Odds are in 6 months you will see the light and drop them like the millions of others have before you.

To be honest, your analysis is somewhat correct. As my coach in my upline said it's all a numbers game. That's why we reps will encourage less experienced prospects to focus on their warm market. If I were to share my prospecting method with them it would get saturated quickly and my payout would be half as much as its full potential.

As I said I'm not going to be paying any licensing fees until I build a substantial downline.

I can't share my prospecting method but I am planning on becoming licensed once I'm generating enough downline income to cover the costs of starting up a small sales team (cold calling etc). My methods have already been shared for free on this forum. The trick is focusing on getting targeted leads; persons with exceptional sales and customer service experience.

 

[Evan257]

Quick update:
Doing awesome guys! The key is taking action and signing up under a dedicated trainer who will carry out the interviews for you. 95% of other people in the company are using old school methods so it's great if you have IM experience.

After 2 months of working around 8 hours a week I now have 6 people in my downline; 4 of whom are experienced salespeople! I just need to submit my app to reap the rewards.

There are 2 other interested people who are coming in for follow-up interviews this coming Monday. 1 of them was an executive in a shipping company and is already to licensed to sell insurance in the province.

I also found a cheap targeted leads supplier on BHW.
I plan on getting insurance phone bizopp leads from across the country and doing an SMS campaign.
I also recall seeing a forumer who sold a cheap robocall service. However, I'm a little concerned about the legalities here.

 

[Tangy]

I would be very worried about using robocalls in Ontario... didn't you see the giant PR nightmare that happened with the politicians there recently?

Stick to marketing online. You can annoy the hell out of people and there isn't much anyone can do about it