When it comes to purchasing real-time insurance leads there are a few factors that determine whether a campaign is a huge success or a miserable disaster. The most important aspect for new buyers is to ensure they go into the process with the right expectation and the knowledge needed to succeed.
Here are my top tips when it comes to working leads:
1. Be Quick!
Try to respond to each lead that comes in within 5 minutes of receipt. Whether you buy shared leads or exclusive leads the consumer is probably shopping around so you will always have some level of competition. Catch the prospect when they are fully engaged and you will realize a much higher close rate. This is the most important factor.
2. Know Your Product
This is also a big factor. When it comes to phone and face-to-face sales you have be able to solve problems quickly and overcome objections. If you don’t know your product like the back of your hand you will struggle.
3. Set Aside Time For Leads
Each lead vendor will have some sort of volume control or lead scheduling option. Use these to your advantage so that you are expecting the leads to come in and are in the right mindset to sell your services.
Take full advantage of each and every prospect you have the opportunity to speak with. You will find that many are prime candidates for multiple-products and didn’t even know it. Ask the right questions and establish rapport to get to the next level of profitability.
5. Stay Organized
This is crucial. If you operate from sticky notes all over your desk you need to stop and take a step back before moving into paid leads. Find a system that works for you and offers seamless organization at your fingertips. This might be a carrier based system or a 3rd party CRM or Rater. Some services will offer an in-house lead management system for customers.
6. Follow Up
The average prospect takes up to 5 or more attempts to make contact (less if you act fast). The point here is that follow up a major factor to success. Make at least 6 attempts to contact a lead. If you don’t have any luck then add the contact information to your email and direct mail lists for ongoing drip marketing. Never give up on a lead unless they tell you to stop contacting them.
7. Ask For Referrals
Offering solutions in a helpful and friendly manner can go a long way. Once you have a good rapport with a new sale or prospect don’t be shy: Ask For Referrals!
8. Track Results
Lead sources can fluctuate in terms of both volume and quality. It is important to know where you stand with every source you use and know when it is time to increase lead flow or pause a service all together. If you are able to close 8+% of your lead you are most likely profitable.
9. Utilize Promotions and Discounts
When it comes to paid lead sources you’ll want to work with any lead that can bring a positive return. To get to that point you have to do quite a bit of testing which is going to require an investment of marketing funds. The best way to test services is to get started with a discount or free lead promotion. I suggest you test at least 50 leads from each service before making a go or stop decision and these promotions can make that testing period considerably cheaper.