When it comes to insurance leads, they are the foundation of any agency. Having a direct connection between you and customers ensures the success of your agency. However, not all leads are created equal. Some leads will be better than others. So, what makes leads stand out and shine, and what makes a lead turn around and hide? The following are five factors to consider when buying insurance leads.
An agent can buy insurance leads in high or low volumes. Smaller agencies can utilize lead filters that can target specific regions to increase their success rates. This method works well because of the low cost-per-lead. The flip side of this is that larger agencies may buy many lead types while using fewer filters. If a larger agency has enough agents to manage the bandwidth of an extensive lead source, this method will work really well.
So, the best bet when it comes to handling the volume of leads is to look at the size of your agency. A smaller agency that handles a few high-quality leads a month has an advantage over an agency that handles an abundance of low-quality leads. Remember high quality is the best quality.
Leads can come from various channels. Determining which channel works best for your agency is the first step towards finding high-quality leads.
These leads are when customers are the ones making the first contact. So, think click-to-call ads. A customer will click on an ad because they are interested in your services. With these leads, agents have to act fast. A customer wants to receive help the moment they interact with your ad. Moving too slow means your customer just went to your competitor.
Social Media Leads
These leads are interest-generated through the various social media platforms. They are a perfect opportunity to connect with prospective customers. However, you have to know your audience in order to effectively use these. Figure out what platform your customers use most to reach them
Search engine optimization is when a person searches online for the products you sell. For these leads, your website needs to be equipped with SEO measures. Making it appear at the top of a search engine is a goal. However, SEO leads can be a little slow. Making your website equipped for top results can take weeks. Not to mention there is little control in SEO. How Google prioritizes websites is known by Google alone.
A lot of times, companies have pre-determined filters for agencies to work with However, sometimes the options for custom filters are available. They can be a more pricey option, but they provide a lot of benefits. For instance, with custom filtering, you could include factors such as demographics, geographic locations, and current policies. With filters, it’s best to start broad and then narrow them down with consistent use. Whatever factors don’t work just take them out altogether.
4. Return Policy
Found a great company with high-quality leads? Check their return policy. A truly exceptional company will have an equally exceptional return policy. Lead companies should take serious measures to exclude leads that are not up to standards. Unfortunately, sometimes bad leads slip through the cracks and end up in your lap. When this happens, how does the company react to a bad lead?
Find out what their standards are for bad leads and what the return policy is. If a company leaves you high and dry with a bad lead, you should question how strong their leads are overall.
If agents are all buying the same leads, success rates will definitely take a hit. Exclusive leads are your best bet. They are sold to one agent and only one agent. Just like that competition is gone. POOF! It’s important to take into consideration that exclusive leads are going to have a higher price tag attached to them. If you’re planning on only utilizing exclusive leads, this will eat a chunk of your budget. The best method is to use these types of insurance leads as a supplement in your pipeline.