How to Buy Life Insurance Leads
A steady flow of new leads is the lifeblood of any insurance business. Several resources exist whose sole purpose is to generate new leads and provide them to life insurance agents, and knowing how to locate and evaluate these resources can mean the difference between a mediocre sales career and a stellar Million Dollar Round Table performance. Todd Erwin stated, "Purchasing insurance leads means that you don't have to spend your valuable time trying to generate them on your own."
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Consider buying Mortgage Protection response cards. Several companies generate new life insurance sales leads by sending direct mail advertisements for mortgage life insurance to new home owners. The homeowners fill out reply cards indicating their interest in obtaining information about life insurance to protect their new mortgage, and are completely prepared to be contacted by an agent. According to LifeLeads.net, the reply card "will come back to you with their mortgage lender's name, mortgage amount, name, address, date of birth and telephone number(s) hand written on it." The direct mail company collects these response cards and sells them to local agents, who then follow up with the homeowner to begin the sales process. The companies responsible for generating the Mortgage Protection leads typically sell them to life insurance agents in blocks of 50 or 100, and charge an average of $4 to $7 for each reply card.
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Consider buying Internet leads. Many lead generation companies use the power of the Internet to capture the attention and information of people investigating life insurance online. The online process takes the visitors through a series of steps during which they provide their personal contact information, details regarding the scope of their research and level of interest, and an acknowledgement that a live representative will contact them shortly to further assist them. The companies responsible for gathering these leads compile them based on the geographic location of the prospect's residence, then sell these leads to local life insurance agents. The average cost of an Internet life insurance lead is between $10 and $20.
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Consider buying telemarketing leads. Skilled telemarketers can generate high quality life insurance leads on a daily basis. Many telemarketing agencies specialize in obtaining pre-qualified life insurance sales leads through cold calling methods, then sell those leads to local life insurance agents. The average cost of a telemarketing lead works out to be between $15 and $25, however most telemarketing agencies do not sell leads on an individual basis. Instead, the telemarketing companies charge you for a set number of hours of calling, and any leads generated during that campaign belong to you.
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Consider buying pre-set life insurance appointments. There are some companies that specialize in arranging appointments for interested and qualified life insurance prospects. These companies will typically use telemarketers to acquire the appointments, then sell those appointments to local life insurance agents. Although these leads are significantly more expensive than any other type, the likelihood of actually conducting some profitable business with the leads is statistically higher. The average cost for each pre-set life insurance lead is between $50 and $100.
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Tips & Warnings
Before you commit to spending a significant amount of money on pre-set appointments, insist that the marketing company provide you with some test appointments first. Make sure that the telemarketers have properly prepared the prospect for your visit, and did not simply state that you would be stopping by to drop off some material about life insurance.
Review the refund policy for any internet lead generation company. Since these companies charge per lead, you must be entitled to a refund or a credit for any bogus leads that are unreachable or insincere.
Not all internet leads are exclusive to one life insurance agent. When investigating leads provided by an internet-based marketing company, be sure to ask if you are the only life insurance agent who will receive the leads from your area.
Beware of how the internet leads were acquired. Online marketing companies are often known to be sneaky, and some will lure visitors to their website with promises of free electronics, or other offers. Companies that acquire life insurance leads in this manner should be avoided, as the quality of their leads is always extremely poor and rarely result in profitable business.
