Buying leads is a fact of life for most insurance agencies these days, and in most cases, makes more sense than trying to generate first-person leads through in-house marketing efforts.
Buying search engine marketing, or SEM, leads is a great way to break into new areas and build your customer base. So, how do you pick the right lead partner, and how can you make sure you are making the most of the leads you get?
Here are a few ways to make sure you are not leaving any valuable leads on the floor.
Know Your Lead Partner
Make sure you do some research to find the best lead partner for your business. You can then do some testing with the company to find out if they are a fit.
You’ll want to make sure you know what kind of leads you want (including exclusive or shared) and test with those types. This should give you a good feel for the quality of the types of leads you are most interested in.
Also, make sure that you understand the return policy. While most lead generation companies do their best to send you legitimate leads, sometimes bad leads get through. As long as you know the return policy, the company should work through any quality issues with you.
You should also research the company’s reputation. General research may be unreliable, however. A good lead source is a valuable piece of information, one that many agents are not willing to share. Some may even disparage a lead generator to keep others from using the same company. Do your research, but make sure you test and find out for yourself.
Work Your Leads
Even good leads will go nowhere if not properly worked. Make sure you have a solid system and scripts in place before you start to contact your leads. It usually takes three to four touches to get a callback, so make sure you have a good tracking system and consistency with all your leads.
You might also want to try experimenting with leads from different areas or during off hours. You may find better pricing for leads during non-traditional hours, and you might find better payoffs if you’re willing to work early mornings, evenings or on weekends.
Also, make sure your filters are not excluding valuable leads. Some filters are necessary but going too tight will surely lead to missed opportunities. Experiment with your filters.
Test, Track, and Repeat
No lead service will be perfect. The fact is, when dealing with real-time leads there will be some junk. However, if you’ve carefully chosen your partner and tested with them, and you have a system in place for tracking your leads and progress, you will know whether you are getting a good return on your investment, regardless of junk leads.
With the right attention and persistence, buying leads can be a great way to supplement your business and break into new markets.