Average premium that you get using internet leads?

Tampa Bay Rep · 11-02-2008, 04:17 PM

1. What is the average premium per client that you get from working internet leads?

2. What is the average dollar amount you spend in internet leads to get a client?

3. Which leads are you using: shared, exclusive, or internet lead inquiries that were called by lead company and transferred to you by telemarketer as a live transfer?

4. Based on the lead type you use, what is your closing ratio?

somarco · 11-02-2008, 04:34 PM

1. Haven't run numbers in a few months, but last time I checked it was in the $450 range.

2. $65 - $80

3. Shared.

4. I have no idea. Closing ratio's are not a meaningful stat.

joshril · 11-02-2008, 04:45 PM

1. $3400 AP average
2. About $85
3. Exclusive
4. Agree with Bob here... ROI is what you need to calculate... too many variables in closing percentages

CHUMPS FROM OXFORD · 11-02-2008, 04:52 PM

1- $200 per month
2- $50-$70
3-Shared
4-Not sure 1-7 to 1-12

Chkndinner14 · 11-03-2008, 07:34 AM

1. 3300 a year
2. $70
3. Exclusive
4. ROI about 6 to 1.

Tampa Bay Rep · 11-03-2008, 07:47 AM

Thanks for the replies from everyone so far. Interested in hearing from others as well.

For those who have posted and for those who will post, what lead company do you use and what are the particular pros and cons about their leads?

And yes I agree, ROI is important, so if everone could include that.

Thanks

CHUMPS FROM OXFORD · 11-03-2008, 08:23 AM

Best to do a "search" for lead company info. Results vary by state. Everyone seems to have their own opinion. I still use NQ. Clearly, they have some of the worst leads money can buy. But every 10th lead, is that gold-plated lead that was seemingly waiting by the phone for you to call.

Is Al Davis pulling his hair out? Has to.

somarco · 11-03-2008, 08:36 AM

Pardon my skepticism, but what is your game TB rep? Your moniker (rep vs. agent) and your questions makes me wonder if you are a rep for a lead company.

You are asking specific questions here and specifically about PZ in another thread started by you.

Put my mind at ease if you don't mind.

Tampa Bay Rep · 11-03-2008, 09:30 AM

I was a captive agent for 15 years for an insurance company who only catered to Medicaid (not Medicare) but the state mandated that all the insurance companies had to get rid of their insurance agents by the end of the year, so the company I worked for got rid of all their agents.

As for using rep in the name, we were called reps for the insurance company I worked for.

I do NOT work for any lead company.

I did not have to buy leads for the Medicaid market, which is not to be confused with the Medicare market. Medicaid recipients are welfare recipients, usually mothers with children, who were able to get a zero premium insurance plan, similar to Medicare in that respect.

I was asking about leads because I'm trying to get people's feedback as using leads as source for business for selling individual health insurance.

As for the other insurance field I was working, no lead company was generating leads for welfare recipients, so we had to generate our own leads that actually had to call us, as we were not allowed to solicit, cold call, approach, Medicaid recipients, so we had to set up referral sources to get calls from places that Medicaid recipients frequented like clinics, charities that assist the poor, etc.

The reason I posted one about Prospect Zone is I was considering using their Live Transfer internet generated leads that sell for $25 to see if they were worth it, because not only have I read that leads from Prospect Zone "are the worst leads in the world" but I have also been told some people are selling 1 out 4 people health insurance from these $25 Live Transfers, so I wanted to get feedback from people on this forum.

somarco · 11-03-2008, 10:15 AM

OK, thx for filling in the holes.

Interesting background. So as I understand you are looking for something new in the health insurance market involving clients who will actually PAY for coverage. That will be quite a transition.

Can you make money off internet leads?

Sure, if you know how to choose wisely and have a bit of patience.

PZ leads are considered some of the worst by most on this forum. Live transfer and "exclusive" leads are not necessarily better, just more expensive.

But if the agent BELIEVES they are better then for him they are.

As Ed (Chumps) indicated, plenty of threads (and opinions) on PZ and other lead companies.

It all comes down to money. How much you have to invest in yourself and how quickly you can get up to speed.

The under 65 major med market takes a while (for most) to learn. Rates & policy provisions are only the start. Underwriting can kill a deal in a heartbeat if you are not prepared.

If you are not prepared you will end up wasting a lot of time & $$$ to get ahead of the curve.

Paul (moonlight) can give you an idea which carriers are competitive in your area. He might even agree to sit down and discuss the facts of this business if you buy him a beer.

If you are already accustomed to networking that might be a good way, perhaps the best way, for you to start rather than dumping money into a lead program and all that goes along with selling from home.

Both have costs associated with it and both will have a lag before the commission start to flow.

Those of us who have worked shared leads have a pattern that works for us and a good idea of our ROI.

I get the same leads as anyone else but I really focus on families and folks in the 35 - 55 age range. That is why my premium is a bit higher than some of the others.

Don't be fooled by exaggerated closing ratio's. The truth is, you have no idea who is telling the truth, who isn't.

Good luck.

ABC · 11-03-2008, 01:03 PM

Originally Posted by Tampa Bay Rep

1. What is the average premium per client that you get from working internet leads?
[COLOR=red]Around $3,000 A.P. [/COLOR]

2. What is the average dollar amount you spend in internet leads to get a client? [COLOR=red]Mine all come from SEO[/COLOR]

3. Which leads are you using: shared, exclusive, or internet lead inquiries that were called by lead company and transferred to you by telemarketer as a live transfer?[COLOR=red] Coming from my own website they are exclusive.[/COLOR]

4. Based on the lead type you use, what is your closing ratio?

[COLOR=red]Less than 10% which is an improvement because I was under 5%.[/COLOR]

moonlightandmargaritas · 11-03-2008, 01:23 PM

Originally Posted by Tampa Bay Rep

1. What is the average premium per client that you get from working internet leads?
2. What is the average dollar amount you spend in internet leads to get a client?
3. Which leads are you using: shared, exclusive, or internet lead inquiries that were called by lead company and transferred to you by telemarketer as a live transfer?
4. Based on the lead type you use, what is your closing ratio?

Average of internet lead sources used:

1. $3,595
2. $82
3. Shared (but heavily "filtered")
4. Don't track "closing ratio" as it's meaningless. ROI=$7.82:$1

Originally Posted by somarco

Paul (moonlight) can give you an idea which carriers are competitive in your area. He might even agree to sit down and discuss the facts of this business if you buy him a beer.

Price of poker went up - I took it "upmarket". It now takes a glass or two of a good vintage Pinot Noir for me to loosen up...

somarco · 11-03-2008, 01:45 PM

It now takes a glass or two of a good vintage Pinot Noir for me to loosen up...

I merely suggested he pick your brain . . . not get in your pants.

moonlightandmargaritas · 11-03-2008, 02:10 PM

Originally Posted by somarco

I merely suggested he pick your brain . . .

Pick my brain?

Well that'll take about thirty seconds...

Tampa Bay Rep · 11-03-2008, 02:33 PM

Moonlight;

Sounds good to me if you are up to meeting somewhere local. I live in the Tampa Bay area also, so let me know.

Thanks

Chkndinner14 · 11-03-2008, 09:50 PM

ABC- You are getting your leads SEO, Bravo! You choose not to have your website on your post/signature, why?
Does that not improve SEO?

I am very ignorant in SEO and would like to know more.

Thanks

ABC · 11-04-2008, 02:24 PM

Originally Posted by Chkndinner14

ABC- You are getting your leads SEO, Bravo! You choose not to have your website on your post/signature, why?
Does that not improve SEO?

I am very ignorant in SEO and would like to know more.

Thanks

I choose not to list it. I like to stay somewhat anonymous when it comes to online forums.

I trip off of people that are on web forums and argue and have there names and websites listed. If a potential client does a web search on you they could come across that argument. The runs especially true with political affiliations. I am a conservative but I have liberal clients and I want to keep them as clients.

I was bidding on a case once and lost it because the client asked me what I thought about George Bush. My dumb ass told her the truth that I liked him and the HSA legislation he put through. Thus I did not get the client. They took my plan design and gave it to some friend of a friend. That cost me about $10,000. I will never make that mistake again.

joshril · 11-04-2008, 04:27 PM

Originally Posted by ABC

I choose not to list it. I like to stay somewhat anonymous when it comes to online forums.

I trip off of people that are on web forums and argue and have there names and websites listed. If a potential client does a web search on you they could come across that argument. The runs especially true with political affiliations. I am a conservative but I have liberal clients and I want to keep them as clients.

I was bidding on a case once and lost it because the client asked me what I thought about George Bush. My dumb ass told her the truth that I liked him and the HSA legislation he put through. Thus I did not get the client. They took my plan design and gave it to some friend of a friend. That cost me about $10,000. I will never make that mistake again.

I agree with this completely.

robliano · 11-04-2008, 11:27 PM

Somarco has $2000 higher average premium for the same cost using shared leads, do what he does!
- - - - - - - - - - - - - - - - - -
Interesting

So showing who you really are or what you stand for is a bad thing? I just wrote a $600 (monthly) policy for a couple who found me on here, the day after I posted my phone number, they read the posts about the mini med, specifically. They were paying $1500 a month for their insurance, another agent told them don't bother trying to switch. They got issued today and the Mrs. was nearly in tears when I told her, so I disagree about hiding behind a moniker and not having accountability for your speech/actions!

Originally Posted by ABC

I choose not to list it. I like to stay somewhat anonymous when it comes to online forums.

I trip off of people that are on web forums and argue and have there names and websites listed. If a potential client does a web search on you they could come across that argument. The runs especially true with political affiliations. I am a conservative but I have liberal clients and I want to keep them as clients.

I was bidding on a case once and lost it because the client asked me what I thought about George Bush. My dumb ass told her the truth that I liked him and the HSA legislation he put through. Thus I did not get the client. They took my plan design and gave it to some friend of a friend. That cost me about $10,000. I will never make that mistake again.

ABC · 11-06-2008, 03:10 PM

Originally Posted by robliano

Somarco has $2000 higher average premium for the same cost using shared leads, do what he does!
- - - - - - - - - - - - - - - - - -
Interesting

So showing who you really are or what you stand for is a bad thing? I just wrote a $600 (monthly) policy for a couple who found me on here, the day after I posted my phone number, they read the posts about the mini med, specifically. They were paying $1500 a month for their insurance, another agent told them don't bother trying to switch. They got issued today and the Mrs. was nearly in tears when I told her, so I disagree about hiding behind a moniker and not having accountability for your speech/actions!

Its not hiding its just not letting my views on subject matter interfere with a sale.

Congrads on your sale. It does not matter how you get the lead as long as you write the paper.

Do you have your clients sign off on a document releasing you of any liability of those mini med plans?

I know one legit outfit selling those plans and they have all the mini med/limited benefits plan sign off on a legal document.

I refuse to sell mini med plans. I care about what I sell. I refuse to be that voice on the other end of th phone telling that terminal ill client they dont have any coverage.