6 Questions Insurance Agents Must Ask Before Buying Internet Leads
Top 6 Questions Insurance Agents Must Ask… Before Spending One
Dime On Internet Leads!
DISCLAIMER: DYB Marketing “does not” sell leads of any sort and
we “do not” work for any lead companies. DYB Marketing is a
private marketing consulting firm in Minneapolis, MN. We have
hundreds of insurance agents across the nation using our
Success™ marketing systems. They buy and work internet insurance
leads every day. The following information will be useful for
any agent who currently buys or is thinking of buying internet
insurance leads. To view our insurance marketing systems visit:
www.termlifesuccess.com or www.hsasuccess.com
To Your Success,
Mark Lundberg DYB Marketing
Save yourself time, money and frustrations… Don’t be ripped
off buying Insurance Leads!
With the advent of the new SPAM laws, fax laws and “do not call”
lists successful insurance agents across America are turning to
the internet to get their piece of the insurance industry
multi-trillion dollar pie!. Internet leads can be one of the
fastest and most time and cost effective ways to build your
insurance business.
Caveat Emptor - “Let The Buyer Beware!”
However, before blindly running out and purchasing any old
internet leads, you’d be wise to know the answers to the
following 6 questions before making the decision to pull out
your wallet and your credit card.
Make it a habit to ask these questions of ALL internet lead
suppliers. The honest ones won’t have a problem assisting you
with answers. Beware of the others and move on. There’s no
shortage of internet lead suppliers to choose from, so be
selective.
1. Are the leads you generate available “EXCLUSIVE”?
This is a very important question. Many of the lead sources
online today sell the same lead over and over again. Sometimes
as many as 9 or more different times!
Some of them try to hide the fact that they resell one lead many
times over. Others will say you have exclusive access for a
limited-time. This can simply mean that after you’ve had it a
day or two, they sell it again to someone else. Exclusive leads
will be more expensive than a non-exclusive lead. I tend to look
for a lead supplier who puts specific limits to the number of
times their lead is sold. 3-5 times maximum is a good rule of
thumb.
TIP: Many folks who shop the internet are professional shoppers.
Even though you pay higher prices from a reputable lead supplier
for an exclusive lead doesn’t mean these people aren’t getting
quotes from other sources. You’ll still need to differentiate
yourself with superior service in order to close the deal. 2.
Are the leads delivered to me in REAL-TIME?
Some lead suppliers don’t have the ability to deliver your leads
to you in real-time. That should send up a red flag. The sooner
you receive the lead from the time a person has requested an
insurance quote the more likely they are to be near their phone
and ready to talk and take action. The “real time” lead is
simply a better quality lead that will help you increase your
close ratio and provide a better return on investment. My
definition of “real time” is less than 2 hours.
3. Can I control my LEAD DELIVERY? Your “leads delivery” should
be at a rate you can comfortably handle them. The best close
ratio occurs when you immediately follow up with a lead as soon
as you get it. The more time that passes the less your chance of
getting the sale. You can waste a whole lot of time and money if
you overload your plate with too many leads. Ask if you can turn
the leads off in the event you need to stop delivery to catch up
or take some time off. Your first sales challenge with internet
leads is to adapt your selling systems to internet time. It’s
important that you follow up with web prospects quickly, within
minutes, if possible, but certainly within hours after receiving
a lead. We live in a society of instant gratification so strive
for speedy first contact. If you don’t, your competitors will.
Experiment with a few leads to determine what’s best for your
situation.
4. Can I return BAD LEADS?
Many lead suppliers will not allow you to exchange or return bad
leads you receive from them. We’ve found that even with validity
checks on leads submitted, some leads still get through with bad
information. A reputable lead supplier will always do a
favorable exchange with you. Clarify this point upfront and save
unnecessary headaches.
Therefore, make sure that the company you do business with has a
liberal return policy and has it clearly stated on their
website. TIP: Some companies say they refund a maximum of
10%-15% of the total leads purchased. Use this percentage as a
negotiating point when purchasing leads. Also ask the company
what makes a lead returnable? What makes the lead invalid?
Different companies have different policies on what constitutes
a bad lead. If the lead company is too hard to deal with on this
point, find another one.
5. Can you offer a REDIRECT? A redirect means that when a
prospect submits the survey that generates the lead, the system
has the ability to “redirect” that lead to your own email
address or website. If the company is not able to offer you a
redirect ask them to explain why.
Many times when a company cannot provide a redirect it’s because
they are generating leads from “Co-Reg” pages. A “Co-Reg” or
Co-registration is when a person signs up for a newsletter or
some other information. They are given the option to get more
information on other companies by clicking 5 or more checkboxes.
Often they are forced to select at least 3 or more. These are
VERY LOW quality leads and most times the prospect isn’t even in
the market for your insurance products. You have to be careful
that the lead is not an “Incentivized Lead”. Many websites offer
users incentives to fill out forms. In exchange for filling out
these forms users are given points towards the purchase of
merchandise or free samples sometimes even money. These leads
will empty your wallet very fast with 0% return on your
investment.
6. Do you have FILTERING ABILITY? It takes as much time and
effort to close and write an application that provides a $150
commission as it does to write an application that provides a
$1500 commission. With that in mind, filtering is a process that
allows you to cherry pick the higher potential prospects. Lead
suppliers charge more for filtering but many times it’s worth
it. For instance, you may only want to deal with 45-55 year old
non-smoking men with annual incomes over $100,000 looking for
$1,000,000 of term life insurance. There are significantly less
leads available that meet this criteria but the commission
potential is significantly higher. After you purchase good
quality leads your next challenge is closing a higher percentage
of them. To explore the secrets top insurance producers don’t
want you to know check out the two sites below:
DYB Marketing first became involved in the insurance industry in
March 2004. We developed our first insurance marketing system
for the new consumer driven health care products. Since then
we’ve released our second marketing system for selling term life
insurance over the phone. Hundreds of successful insurance
agents across America utilize these simple step by step sales
processes for creating amazing commissions.
You can view these systems at www.hsasuccess.com and
www.termlifesuccess.com .
