How Much Are You Paying for Telemarketing Leads?

[Bob Klee]

That is the progression of things. So all the good lead vendors say "screw this, I'm going to go make some real money" and then agents wonder why there aren't any good telemarketed lead vendors. If agents want quality telemarketed leads, they're going to have to pay a fair price for them, and $15-$30/lead is nowhere near fair for the lead company. If agents want to start paying $150-$300 for a lead that is basically a guaranteed sale, they would be offering a fair value proposition for the lead vendor.

Josh,
You are speaking the Truth....you know it as you've tried both sides. That is why we have agents that have been with us for Years saying we have great leads and those that leave in less than 30 days because the "leads are bogus." They are buying the same leads! One is successful, the other not..

It is a "battle" we fight daily, trying to help agents grow their agencies. I wish I had a crystal ball....a better way to help agents...we keep trying.

I reserve the right to get smarter! We don't give up.

 

[Josh]

$150-$300? That is comical. Lol. $300 is more than I make on most sales.

On most life sales, that's half or less of the FYC.

Also, I think you're tricking yourself. If you are selling supps (which is my presumption) and your average client stays with you for at least 4 years, you're actually making closer to $800, aren't you? Another point is that supps are much easier to generate leads for than life insurance, but I still don't think a supp agent would be willing to the $50-$75 it takes to generate a quality supp lead, even if they do get paid hundreds of dollars every year per client that stays.

 

[theinsuranceman]

That is the progression of things. So all the good lead vendors say "screw this, I'm going to go make some real money" and then agents wonder why there aren't any good telemarketed lead vendors. If agents want quality telemarketed leads, they're going to have to pay a fair price for them, and $15-$30/lead is nowhere near fair for the lead company. If agents want to start paying $150-$300 for a lead that is basically a guaranteed sale, they would be offering a fair value proposition for the lead vendor.

I'm willing to pay $100-$150 per lead that's practically a guaranteed sale (for FE). They must have a bank account or be willing to pay annually if no bank account. Wonder how many per day could be generated. I can even buy leads in 11 different states. If you're serious call me 252-292-3350...Greg.

 

[0b1kanobee]

If the leads were really so great, they would become a call center and get their insurance lic and make all the money.

I'll tell you why. It is all in the presentation the telemarketer does. I'm not talking about your typical telemarketing operation either. This was for a benefit that the prospects were entitled to have. Don't see why it couldn't work for other annuities though. But the telemarketer has to build the agency, agent or carrier up and put them on a pedistal as to why they need to meet for an appointment. The telemarketing firm actually visits the agency and meets the reps and knows what are production numbers are. They know we are the real deal. This all comes across in the telemarketing call.

Now as an agent it is rather uncomfortable to build yourself up and put yourself on a pedestal. That you are better than the other 8 to 10 guys out there trying for their business. I can't explain it but I'll give you an example. A buddy of mine is a health and life agent for many years and he learned a great deal about annuities at our office (he was recruited). Well he asked everyone (his clients, old clients, new clients, ect.) about their retirement plan and couldn't even get an appointment. So I told him to just keep doing that but refer me and build me up. That he was to convince them that if they did anything without seeing me before, they were just missing the boat. Needless to say I have been writing business for him. In fact, I have wrote more premium for him than I have from my own efforts.

These telemarketers weren't telemarketing for annuities. They were telemarketing for prospects who were at the end of a phone call wanting to speak to someone who was special about their nest egg. Someone who if they hadn't spoke with yet, they needed to. These weren't leads being sold off willy nilly to whoever had a credit card to buy them. This was an all out effort to which everyone made money. If it isn't a win win situation for everyone, it doesn't work.

 

[Josh]

Want to e-mail me their script

 

[senior-advisor-indiana]

I would definitely pay $50-$75 for a guaranteed sale.

 

[Josh]

I'm willing to pay $100-$150 per lead that's practically a guaranteed sale (for FE). They must have a bank account or be willing to pay annually if no bank account. Wonder how many per day could be generated. I can even buy leads in 11 different states. If you're serious call me 252-292-3350...Greg.

At $100-$150 verifying the bank account and replacing any that don't have it is no problem, but you're still short for the practically guaranteed sale. At $100-$150/lead it makes a ton more sense to keep them in-house, at the $150-$300 is where it makes sense to retail them. Depending on the state(s) I may have my non-res and do a per sale split with you, but at $100-$150/lead meeting the criteria I was talking about, it's just not that attractive. If you still want me to give you a call just send me a PM with what your availability is like this week.
- - - - - - - - - - - - - - - - - -

I would definitely pay $50-$75 for a guaranteed sale.

$50-$75 would have a better than 50% close ratio, the "guaranteed sale or it's a return" leads would be closer to $100-$125. That would of course have to be with an agent that is experienced, independent, and works a lead hard. The lead would look something like this:

Mary Jones
Has Medicare A&B
Currently with XYZ carrier
Currently paying $XXX/month
Expecting call tomorrow at 2pm

You get the idea.

 

[briko3]

Want to e-mail me their script

If you're e-mailing, I'd be curious to see what they're doing as well.

 

[0b1kanobee]

Want to e-mail me their script

I wish I had it (if you were talking to me). I meet a couple of guys from the company and a few people that were making the phone calls. They actually spent a few hours at our office. It was odd because I'm never there. As far as the script I'm sure it wasn't anything magical. It was more of a unique relationship with the agency that I think made the difference.

I'm not sure there was an actual script they had to follow exactly but maybe there was. I know a few trained with a girl at the office who works for the big dogs. Does all their appointment setting for clients and new prospects. She is allowed to work for a few agents and reps but I think it is only like 3. She gets around 20% (from like 3 agents) and is on like a $70k salary with the big dogs. I would give her 50% but I'm not a big enough dog yet. She's licensed (series as well) and would for sure make a great rep but she is making a guaranteed six figures a year.

 

[Josh]

I was definitely talking to you, but if the affiliation is what's making it work, then that's a little more difficult to duplicate.