Lead Concepts

[Vanessa Solano]

Hello friends,

Does anyone have experience with Lead concepts direct mailers for Mortgage Protection leads? I have used them in the past for medicare leads and got a 2.4% return which I have pretty happy with but mortgage protection is so different and more costly so I'm a little nervous of the quality of the leads. I'm still fairly new to the life game so there's a lot of self-doubt at play here.

Any feedback would be greatly appreciated.

 

[Lloyds of Lubbock]

When I got started in ther business rather than buying mortgage leads, I would have someone go to the county clerk and make a list of new mortgages.
I would then ,arket to those people mostly via calling. ( Not sure if you can do that anymore).
I also would have lists made of mortgages that were a year old.
People were settled and less agents were calling on them.

 

[Vanessa Solano]

When I got started in ther business rather than buying mortgage leads, I would have someone go to the county clerk and make a list of new mortgages.
I would then ,arket to those people mostly via calling. ( Not sure if you can do that anymore).
I also would have lists made of mortgages that were a year old.
People were settled and less agents were calling on them.

Interesting! Do you remember what your success rate was? How did you get leads after you were more seasoned?

 

[Lloyds of Lubbock]

What I did was I had a telemarketer.
She did not try to get appointments......her only job was to find people who were willing to talk to me. I made my appontments after a breif conversation.
I sold a lot of term, some DI and VUL, I am going back to the early 90's.
I would get these names in affluent areas and after one a client, I would then then approach them either for a referral or hopefully they had a business and would cross sell.
Sometimes both.
I did this for approx ten years.

 

[DayTimer]

I have used them in the past for medicare leads and got a 2.4% return which I have pretty happy with but mortgage protection is so different and more costly so I'm a little nervous of the quality of the leads.

I recently signed on with https://www.theappointmentfirm.com/get-leads for $60 fixed price direct mail MP Leads. The mail just dropped last week so probably at least another week, probably two or three until any come in. As far as quality of lead: a direct mail lead that the prospect read, filled out, walked out ot he mail box, put it inside and lifted that flag to send back is the gold standard lead. What happens is going to depend more on you than the lead company or the person who filled out the lead card and mailed it back to you.

Pluses to the appointment firm:

1) They can look at the data available in the county(ies) you want to mail to and they will tell you how many leads you can expect each month. For example, the counties I selected are estimated to return 26 to 39 leads per month, or $1560 to $2340/month.

2) There is no upfront cost: They take the risk. The leads will be emailed to you as they come in, and you will be given a Paypal invoice each Friday for the leads you received that week.

3) They also offer MP Facebook leads at $39 each, minimum order is 10. I haven't tried these, but I have one agent friend of mine who has used them and has done well with these leads.

Negatives:

1) You do not get the data list that the mail house mailed to, and I like to door knock on non-responder addresses nearby those who did respond, "I was just over on Other Street helping the Smiths. The mail being what it is these days, we just didn't get your card back before I was scheduled to be out here. So I wanted to stop by and let you know what you qualify for as well. Where can we sit down real quick?"

For that reason, my plan is to let them do four weeks of mailings and assess how I feel about giving up control of the list. But that's me, and if you aren't interested in the extra sales that door knocking non-responders will give you, then this is not a negative for you.

Lead concepts, if I recall, charges $750/1000 for MP. The cost is higher because they mail first class to "get in the door quicker." A bit pricey for DM, and for me, it didn't matter as someone else already is mailing my counties every month so Lead Concepts turned out not to be an available option for me.

As @Lloyds of Lubbock said, going to the county is also a possibility. I just discovered that both of my counties offer on-line access to this information for a small fee. So I do not know how long will continue the fixed price DM Program, especially as I am not really interested in a traditional MP message. I think I'd rather send my own pieces.

Anyhow, the appointment firm offers another avenue for you to explore that will allow you to minimize up front costs and only pay for actual responses. FWIW,, $55 to $80 has been the price range others quoted me for fixed price MP leads, so I believe the $60 is reasonable.

 

[Lloyds of Lubbock]

Remember what I did was in the early 90's.
I am sure things are different today

 

[Vanessa Solano]

I recently signed on with https://www.theappointmentfirm.com/get-leads for $60 fixed price direct mail MP Leads. The mail just dropped last week so probably at least another week, probably two or three until any come in. As far as quality of lead: a direct mail lead that the prospect read, filled out, walked out ot he mail box, put it inside and lifted that flag to send back is the gold standard lead. What happens is going to depend more on you than the lead company or the person who filled out the lead card and mailed it back to you.

Pluses to the appointment firm:

1) They can look at the data available in the county(ies) you want to mail to and they will tell you how many leads you can expect each month. For example, the counties I selected are estimated to return 26 to 39 leads per month, or $1560 to $2340/month.

2) There is no upfront cost: They take the risk. The leads will be emailed to you as they come in, and you will be given a Paypal invoice each Friday for the leads you received that week.

3) They also offer MP Facebook leads at $39 each, minimum order is 10. I haven't tried these, but I have one agent friend of mine who has used them and has done well with these leads.

Negatives:

1) You do not get the data list that the mail house mailed to, and I like to door knock on non-responder addresses nearby those who did respond, "I was just over on Other Street helping the Smiths. The mail being what it is these days, we just didn't get your card back before I was scheduled to be out here. So I wanted to stop by and let you know what you qualify for as well. Where can we sit down real quick?"

For that reason, my plan is to let them do four weeks of mailings and assess how I feel about giving up control of the list. But that's me, and if you aren't interested in the extra sales that door knocking non-responders will give you, then this is not a negative for you.

Lead concepts, if I recall, charges $750/1000 for MP. The cost is higher because they mail first class to "get in the door quicker." A bit pricey for DM, and for me, it didn't matter as someone else already is mailing my counties every month so Lead Concepts turned out not to be an available option for me.

As @Lloyds of Lubbock said, going to the county is also a possibility. I just discovered that both of my counties offer on-line access to this information for a small fee. So I do not know how long will continue the fixed price DM Program, especially as I am not really interested in a traditional MP message. I think I'd rather send my own pieces.

Anyhow, the appointment firm offers another avenue for you to explore that will allow you to minimize up front costs and only pay for actual responses. FWIW,, $55 to $80 has been the price range others quoted me for fixed price MP leads, so I believe the $60 is reasonable.

This is so helpful thank you!
If you are able to get a list from your county, do you just print and mail a form yourself? Is it cost effective?

 

[DayTimer]

Remember what I did was in the early 90's.

I am sure things are different today

For sure ... the Do Not Call list, for example, means that the first touch of culled mortgage data will have to be through mail or door knocking to be compliant. Telemarketing the list would be nice, but no-no.

 

[DayTimer]

This is so helpful thank you!
If you are able to get a list from your county, do you just print and mail a form yourself? Is it cost effective?

Well, if you are going to send a traditional MP Mailer yourself you'd need a bulk mail permit and you'd need a printer to print all those cards. And I do not know how you'r go about printing the postage-paid return card. I am not selling traditional MP (Term, ROP term) so my message and my response is going to be different.

The most cost effective printing/mailing out there probably Vistaprint. But you lose the ability to include a direct mail response card, so perhaps not as cost effective as using Lead Concepts, or my favorite, Main Street Powermail.

Cost is important, but your costs are going to be similar no matter which vendor you use. The real key to the operation is you. Fixed price DM Leads with no up front cost, pay only for what comes in ... I can't think of a better way for an agent who is scared to risk too much to get started. Just make sure you have enough funds to pay the first invoice should you get a max first week return, which I'd estimate is about 25% of the max monthly estimate. So if you are told to expect 40 leads/month at most, then have at least enough to pay for 10 leads on the first invoice ($600) ... then go out there and sell them. Using a proper fact find an average MP premium should be $1000 or more. If you are advanced and have street or better contracts, that first invoice should be the first and only invoice you have to float yourself; furute invoices should be paid out of cash flow from commissions.

My suggestion would be to knock for appointments rather than call. Calling is a good way to waste your leads, imo. At the door: "Hi Marty/Mary, I'm Vanessa with the MP Center here in NY. I was just over on Other Street helping the Smith's get protection for their family, and I saw you were nearby, so I wanted to quick stop by to let you know what protection your family is eligible for as well. Where can we sit down real quick?"

"Why didn't you call first?"

"Well Marty, let me see, this is your number - 555-555-5555? Well if you're anything like me you don't answer calls from numbers you don't recognize either. Your phone may even be set up to silence an unknown caller and send it right to voicemail. It takes just a quick and casual few minutes to determine your personalized eligibility and what you do with the information is up to you. Fair enough? Where can we sit down real quick?

Door knock the lead, and ask for the appointment right then and there. Do not sit for one leggers, and be willing to make an appointment for within the next day or two or Saturday morning if both are working.

 

[Vanessa Solano]

Well, if you are going to send a traditional MP Mailer yourself you'd need a bulk mail permit and you'd need a printer to print all those cards. And I do not know how you'r go about printing the postage-paid return card. I am not selling traditional MP (Term, ROP term) so my message and my response is going to be different.

The most cost effective printing/mailing out there probably Vistaprint. But you lose the ability to include a direct mail response card, so perhaps not as cost effective as using Lead Concepts, or my favorite, Main Street Powermail.

Cost is important, but your costs are going to be similar no matter which vendor you use. The real key to the operation is you. Fixed price DM Leads with no up front cost, pay only for what comes in ... I can't think of a better way for an agent who is scared to risk too much to get started. Just make sure you have enough funds to pay the first invoice should you get a max first week return, which I'd estimate is about 25% of the max monthly estimate. So if you are told to expect 40 leads/month at most, then have at least enough to pay for 10 leads on the first invoice ($600) ... then go out there and sell them. Using a proper fact find an average MP premium should be $1000 or more. If you are advanced and have street or better contracts, that first invoice should be the first and only invoice you have to float yourself; furute invoices should be paid out of cash flow from commissions.

My suggestion would be to knock for appointments rather than call. Calling is a good way to waste your leads, imo. At the door: "Hi Marty/Mary, I'm Vanessa with the MP Center here in NY. I was just over on Other Street helping the Smith's get protection for their family, and I saw you were nearby, so I wanted to quick stop by to let you know what protection your family is eligible for as well. Where can we sit down real quick?"

"Why didn't you call first?"

"Well Marty, let me see, this is your number - 555-555-5555? Well if you're anything like me you don't answer calls from numbers you don't recognize either. Your phone may even be set up to silence an unknown caller and send it right to voicemail. It takes just a quick and casual few minutes to determine your personalized eligibility and what you do with the information is up to you. Fair enough? Where can we sit down real quick?

Door knock the lead, and ask for the appointment right then and there. Do not sit for one leggers, and be willing to make an appointment for within the next day or two or Saturday morning if both are working.

Gotcha!
I can tell you right now, I do not see myself as a door knocker and the flat rate for leads makes sense. I am also very curious about the FB leads. Thank you for the lead company recommendations, it really gets overwhelming when I start looking!