Insurance Agent Forum

[fostever]

Originally Posted by Frank Stastny

There are numerous places that sell lists, however, I have discovered that all lists are not created equal. Some companies make a concentrated effort to up date their lists on a regular basis, some apparently don't in my experience. I have purchased lists where the person died 5 years ago, hasn't lived there for a number of years, etc.

Although you will run into that occasionally with all companies, Lead Concepts' lists seem to be the ones that I consistently get the best information from. I pay around $100 per thousand for the parameters I request.

You may find other companies that you think do a better job.

Frank, Thanks for the advice I appreciate your help and this forum.

[cgarcia]

Hey guys,

I've been lurking around this web site for awhile. This thread motivated me make a post since I actually do work as a lead vendor for an online lead generation company.

From my experience, there are many vendors go out and re-sell vintage leads that they've generated in the past and have stored on databases. They often cycle through their database and randomly select leads that they sell to their customers.

As for filters, they are only effective to the extent of the user inputting the correct information. Quite often, the design of the application can dictate the accuracy of the results. If the application is a quick one page application, it leaves more room for user input errors. Good lead companies will design their application so that they are comprehensive which clients are forced to actually put in the time to attain quotes, info, etc. therefore, resulting in more accurate applications.

The conversion rate of the leads largely depends on how agents work the leads. My company sends out their non-exclusive leads to no more than 4 agents. If the agent hangs around their email box and waits for the real time result to contact the lead, conversion is going to be higher. So, its important to set the parameters of lead delivery to hours where you will be at your desk prepared to make the cold call.

Anyhow, just my two cents.

[salpro22]

Originally Posted by cgarcia

Hey guys,

I've been lurking around this web site for awhile. This thread motivated me make a post since I actually do work as a lead vendor for an online lead generation company.

From my experience, there are many vendors go out and re-sell vintage leads that they've generated in the past and have stored on databases. They often cycle through their database and randomly select leads that they sell to their customers.

As for filters, they are only effective to the extent of the user inputting the correct information. Quite often, the design of the application can dictate the accuracy of the results. If the application is a quick one page application, it leaves more room for user input errors. Good lead companies will design their application so that they are comprehensive which clients are forced to actually put in the time to attain quotes, info, etc. therefore, resulting in more accurate applications.

The conversion rate of the leads largely depends on how agents work the leads. My company sends out their non-exclusive leads to no more than 4 agents. If the agent hangs around their email box and waits for the real time result to contact the lead, conversion is going to be higher. So, its important to set the parameters of lead delivery to hours where you will be at your desk prepared to make the cold call.

Anyhow, just my two cents.

What company do you work for?

[CHUMPS FROM OXFORD]

I was also wondering that. Not NetQuote or Insureme. Not Vimo. Maybe Hometown, although I think their Prez lurks here also.

[cgarcia]

Originally Posted by salpro22

What company do you work for?

The company I work for is called Producer Pipeline

Producer Pipeline - Quality Insurance Leads with Real-Time Delivery

-Carl

[Frank Stastny]

Do you think he is just being polite and providing information so he won't get slammed for spamming?

If he is concerned about spamming, I don't think mentioning the name of his company would be spamming. I also am interested and would like to know.

He sounds like a pretty solid guy who we might want to do business with. I might even buy a lead or two even though I don't think there is a better, more cost effective way of prospecting than from a purchased list.

[healthagent]

Originally Posted by cgarcia

The company I work for is called Producer Pipleline. You can take a look at the web site at Producer Pipeline - Quality Insurance Leads with Real-Time Delivery

-Carl

So, by this statement:
How do you generate leads?

Our leads are generated by consumers who are looking for insurance and have completed one of our online lead forms. They are expecting to be contacted by an agent or agents who can provide them with quotes.


...we can assume that it's made clear to prospects while filling out the form that they will be called by insurance agents? Can we see the quote page?

[Macdaddy]

Originally Posted by Frank Stastny

Do you think he is just being polite and providing information so he won't get slammed for spamming?

If he is concerned about spamming, I don't think mentioning the name of his company would be spamming. I also am interested and would like to know.

He sounds like a pretty solid guy who we might want to do business with. I might even buy a lead or two even though I don't think there is a better, more cost effective way of prospecting than from a purchased list.

Frank,

I know you have mentioned calling your lists many times and how effective it is for you. Can you give us an idea of how many calls you generally need to make to generate a sale? If memory serves me, you generally have the product pre-sold prior to making the trip to the prospects home....correct?

Also do you think that a telemarketer could be effective in setting appointments for an agent for med supps?

[CHUMPS FROM OXFORD]

Interesting. I would also like to see all of the quote pages and see an example of some of the affiliates that are used.

Specific prices would be nice to know. I do NOT like the 15% cap on returns or that you may have to wait 72 hours for your change request to be effective.

I would also like to see $50 of free leads given out to all on this Forum that try it out. Hometown gave $100 and VIMO gave $60.

[healthagent]

I'm gonna doubt that these people submitting their information are "expecting to be contacted" but by all means, prove me wrong. The average internet lead, when they pick up the phone and realize an agent is on the other end thinks: "****!!!" Then they know better than to answer the phone again.

[Frank Stastny]

Originally Posted by Macdaddy

Frank,

I know you have mentioned calling your lists many times and how effective it is for you. Can you give us an idea of how many calls you generally need to make to generate a sale? If memory serves me, you generally have the product pre-sold prior to making the trip to the prospects home....correct?

Also do you think that a telemarketer could be effective in setting appointments for an agent for med supps?

Yes, when I set an appointment I know that I have at least a 90% chance or better of making a sale. Many times I will even read the health questions over the phone and I always quote the premium.

Calling from a list is the most effective way I have found to prospect. I have tried everything from direct mail leads, internet leads, snail mail letters I have sent out, hiring a telemarketer and knocking on doors.

I have never kept track of how many calls I have to make to generate a sale. Some days I can make 10 calls and get two, other days I may make 30 and not get any. The number of calls I have to make really isn't that important to me. All I can say is that I sell a lot of insurance off of a list, a whole lot more than I have ever sold from calling "leads".

Is it more work, yep, do I make more sales, yep, does it cost me hundreds of dollars a month, nope. I also put every person I call who I believe is a qualified buyer in my Prospects database to be called again at a later time. I sell insurance to people all the time that I talked to initially months ago.

A telemarketer is just that, a telemarketer. They cannot generate the excitement in their voice that I can when I explain the plan, they cannot answer questions or objections, they can't give the premium amount nor do they don't bother to try to "read" the person over the phone.

They simply call following a "script", and since their job is to generate some level of interest they don't ask very many questions nor are they friendly, warm and fuzzy over the phone and try engage the person in a conversation. They don't have the time to do all of that. their goal is to make as many phone calls in an hour as they possibly can.

I am convinced that they talk to a lot of people from the list they are using who are ready to buy but the agent never gets information simply because they are "telemarketing" that person. Personally, I would want to have the initial call come from the person I am going to be giving my money to, not someone who is hurring through a list so they can make as many calls per hour as possible.

They are after quantity, I am going for quality. Also, they are calling from the same list of names that I am. Am I better than a telemarketer as selling insurance, I sure hope so.

[healthagent]

It's still gonna come down to doing what simply works for you. "It is what it is" and if you can make a good living buying shared leads, hiring marketers, or making calls yourself then it's working for you.

It's very important that new agents understand there are many ways to skin a cat. I know Jesse McDonald does nothing but internet leads and does extremely well. I know local agency owners who won't spend anything on a lead and are simply involved in the community - the "chamber of commerce" concept.

What it all boils down to is everything works if you work.

[Frank Stastny]

Originally Posted by CHUMPS FROM OXFORD

Specific prices would be nice to know.

Keeping the cost of the leads a "secret" is the deal killer for me. I would never contact them without knowing the cost first. I might be missing a good deal by not calling, but I also might just be wasting my time listening to a BS sales pitch.

I can only think of one reason for a company to not display the price. They know they are too high compared to others and want the agent to call so one of their sales people can try to "sell" their program.

I will not contact companies who are not up-front about the cost of their product. I was born at night but last night. Sorry, that is a pet peeve of mine.

[STIBROKER@AUSTIN.RR.COM]

Originally Posted by healthagent

Iwhen they pick up the phone and realize an agent is on the other end thinks: "****!!!" Then they know better than to answer the phone again.

and thats why I take leads in the evening and on weekends....you don't want to blow that first in slot to tell the people that their name was sold to you and 4 other goofballs and I have found most of the other goofballs do not work leads evenings and weekends.....

[Frank Stastny]

Originally Posted by healthagent

It's still gonna come down to doing what simply works for you. "It is what it is" and if you can make a good living buying shared leads, hiring marketers, or making calls yourself then it's working for you.

It's very important that new agents understand there are many ways to skin a cat. I know Jesse McDonald does nothing but internet leads and does extremely well. I know local agency owners who won't spend anything on a lead and are simply involved in the community - the "chamber of commerce" concept.

What it all boils down to it everything works if you work.

I wasn't implying that other methods don't work, just that it makes more sense to me and is a lot more cost effective and efficient for me to do my own prospecting than any other methods I have tried. And, my cost per "lead" is only a few cents compared to dollars for purchased "leads". My net income is also a lot higher than if I spent thousands of dollars buying "leads" or hiring someone else to do my prospecting. Net income is the only measure of my earnings that is important to me.

One can't measure an agents income without knowing how many thousands of dollars that agent has spent to make that amount of money.

I talked to an agent several weeks ago who said he is spending $800+ per week buying leads. That's over $41,000 per year! He may have made $150,000 (I am just putting a number in, he didn't tell me that) but his real income is going to be substantially less than that.

If he did his own prospecting and made $150,000 he has made substantially more money. He might have to work an extra two or three hours a day though.

One of the board members asked this question in another thread, "how did agents sell insurance before computers?" That may not be a direct quote but it is close.