Ethics of Aged Leads

[GreenSky]

So a lead vendor sells fresh leads and advertises they only go to 3 (for example) agents.

30 days later that same vendor moves them into the aged category and they are now sold over the next year to as many agents who want to buy them.

How is this ethical? If I buy a lead and it's promised to not be sold more than 2 more times am I not being lied to by the vendor?

Just another example how most lead vendors are dishonest.

Rick

 

[bill3173]

If you find one that doesn't do that, you may want to keep it to yourself. I stopped buying net leads from insureme, right after the commission cuts were announced, since at least half of the people I got on the phone said they sent the info. anywhere from 1 day to 6 months prior and at $8 lead it wasn't worth it.

I started back with htqs a few months ago, and of the people that I get on the phone, at most 1 in 3 are real time. It's a risk to call these people over and over even if you don't get them on the phone. If they're on the dnc list, and the data is old, you could have a problem.

 

[CHUMPS FROM OXFORD]

In the past, I purchased leads from all of them -Netquote, InsureMe (They used to be Home Shopping Network), HTQ, ASAP, VIMO, Leadco etc...

Somewhere on the Forum are my yearly ratings although I stopped doing that around 2010.

 

[russelltw]

Chumps, I miss those ratings. Those were interesting reads.

Would agree with Bill also. I had success with my two vendors, but in January of this year, my ROI went south. I started saying this as my first line "I see you were just online and had put in a request for insurance." People started telling me they did that from 12 hours ago to 3 months ago.

Also interesting when you get a new lead that is a wrong number and the guy who answers tells you the phone calls started coming in for that guy 6 months ago...

I wish there was some way to turn the tables on the providers. I hate being ugly with the sales reps because they are just answering phone calls.
R

 

[Norwayguy]

Chumps, I miss those ratings. Those were interesting reads.

Would agree with Bill also. I had success with my two vendors, but in January of this year, my ROI went south. I started saying this as my first line "I see you were just online and had put in a request for insurance." People started telling me they did that from 12 hours ago to 3 months ago.

Also interesting when you get a new lead that is a wrong number and the guy who answers tells you the phone calls started coming in for that guy 6 months ago...

I wish there was some way to turn the tables on the providers. I hate being ugly with the sales reps because they are just answering phone calls.
R

They know the score....You can not be the only agent telling them the same story. For me the telling truth was this.

I prove a lead I purchased as a shared lead is Bogus and get credit. The vendor now agrees the lead is Bogus do you think they credit the other people who bought the lead? If so how come I never recieved credit unless I could prove the lead was Bogus. These companies know the chances of you actually getting a person to answer the phone within the timeframe they are willing to credit you is what 40% .

Also what financial incentive do they have to provide good valid leads when there is no disincentive for bad ones at worst they replace a lead for the guy that proves it is Bogus...There should be a hit that they take ie get 1 Bogus lead and we replace it with 2 leads or we refund to you the cost of 1.5 leads until they have a financial pain from the Bogus leads they will NeVER stop.

 

[bill3173]

Also what financial incentive do they have to provide good valid leads when there is no disincentive for bad ones at worst they replace a lead for the guy that proves it is Bogus...

I can answer that, there is no financial incentive, and since most have no conscience, there is no moral disincentive either. I was being generous when I said 1/3 were real time. If you factor in the bogus leads, you can expect to call 7+ numbers to get one real time lead.

Insureme used to send out a blanket cancel notice on bogus leads once they were informed, auto credit you and ask you to remove the name from your call list. They're the only ones that I knew that did this, and the number of real time leads was much higher than anything I've seen with the leads I'm getting now, however, I haven't heard good things about insureme lately.

 

[Crabcake Johnny]

The best leads are scored and individual agents never get 'em. They go to carriers or other very large clients.

 

[GreenSky]

My original point was that regardless of the quality of leads, the lie of "3 agents" is just that when they are re-sold as aged leads to any number of agents.

In addition, the consumer does not expect phone calls for the rest of his/her life. If I request information in January, why would I want to keep being pestered in August?

Rick

 

[rousemark]

The lead cos say they sell the leads at $8 each to three people. It looks one would come out with exclusive leads for $25. I would think agents would be more satisfied which would result in a higher volume and more profit for the internet lead co.

 

[GreenSky]

The lead cos say they sell the leads at $8 each to three people. It looks one would come out with exclusive leads for $25. I would think agents would be more satisfied which would result in a higher volume and more profit for the internet lead co.

So 30 days after paying $25 for an exclusive lead it is resold as an aged lead.

How exclusive is that?

Rick