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6 Top Tips To Get The Best ROI From Insurance Leads

InsuranceMarketing 

Buying insurance leads is one thing, and knowing what to do with them is another. Keeping the following items in mind can help you refine your technique and get the best ROI when using purchased insurance leads.

  1. You are not the only one chasing that prospect.
    Don’t make the mistake of thinking that you are the only one who receives a particular list of prospects. Chances are, there is at least one other agent who is competing for the same client. If you want to be the only one getting particular leads, be prepared to pay premium rates.

  2. Call the prospect as soon as you can.
    As the saying goes, the early bird gets the worm. Remember that you are competing with an unknown number of agents for each prospect. So call them ASAP, preferably as soon as you get their contact information. You want to be the first agent to contact them. But even if you are not the first, do not be discouraged. Ask permission from the customer to go ahead with your sales pitch. You may succeed where other agents didn’t.

    That said, you should strive to be number one as much as possible. Studies show that agents calling prospects within the first five minutes of getting their contact information are 20 times more likely to close a sale than those who did not call immediately.

    The study also shows that 8 out of 10 agents that close a sale are the ones who are the first ones to contact the customer.

  3. Leads are not foolproof.
    Getting quality leads mean getting prospects with accurate contact information. Providers take measures to validate the lead information before they send the lead to their agent clients. However, it is still possible to get a dud now and then. In this case, just return the fake lead to the provider and ask for a refund.

    Purchased leads work if you are diligent and prompt about making calls or following up with prospects. Without putting in time and effort in processing leads, do not expect that buying leads will be enough to make sales happen.

  4. Talk to the Customer Before You Give Out Quotes
    Request to meet the customer in person or have a phone conference with the customer before you give out insurance quotes. Here are the reasons why:

    - You need to validate the lead information personally with the customer to ensure that the quote that you will give is accurate. The information that you got from the lead provider may be incomplete or not updated.

    - You need to make sure that the email address or phone number provided will be accessed by the real customer. Otherwise, you will be sending information to an inactive email address or trying to reach the customer through a bogus phone number.

    - Unless you are sure that your quote is the lowest price in the market, you do not want consumers to buy insurance solely because of price. It might be an easy sell now, but what happens if you try to sell another type of insurance product? You want consumers to make a decision based on merit, not just because of the price.

  5. Contact customers using the appropriate channels.
    Always use the primary phone number or email address to contact a prospective client. Even if there is a secondary phone number or email address, it might be a work number or email address that would be inappropriate for personal correspondence.

  6. Don’t be easily discouraged.
    Do not give up if you don’t close a sale right away. You may need to do several follow up calls before you get a definite “Yes” or “No”. Also, do not limit follow-ups to phone calls. You can try to contact the prospect through email, letter, or voice mail.

    Closing a sale can take days or even months. Be diligent in following up until you get a definite response, and remember to keep your leads information (including notes from previous meetings or conversations) organized by using a lead management system.

    Always be professional and on good terms with your prospects, even those who did not buy a policy from you. Try to solicit feedback on why they did not get insurance from you, and learn from the experience.