How Much Does Everyone Spend on Leads$$$

Vanbret · 02-19-2009, 01:49 PM

Originally Posted by medicarebenefitsdirect

I would suggest that you pick one thing and really focus on it. Unless you are a large agency with a lot of support, trying to do all that you say will be hard. It takes forever to make money in homeowners. The commissions average about 15% and they are paid as earned. Also, there is not a lot of loyalty now days in personal lines like auto and homeowners. Pick one thing and become an expert at it. That is just my two cents. Good luck in what you are doing.

I am current in the $500 to $600 range. All health, but this year will venture in to the life, annuity, homeowners, LTC leads.

[/quote]

I agree; diversification sounds like a great thing (and can be), but use it in moderation.

OSAAT · 02-21-2009, 01:46 PM

AgentOrange,

What kind of ROI are you getting on the UHC leads?
A UHC rep mentioned their lead program at a meeting a couple of months ago.

Thanks

moonlightandmargaritas · 02-21-2009, 02:06 PM

Originally Posted by OSAAT

What kind of ROI are you getting on the UHC leads? A UHC rep mentioned their lead program at a meeting a couple of months ago.

The UHC rep does what their boss tells them to do.

If they were so smart, do you think they'd be working as a UHC rep, or working for themselves and making five times as much?

Practice a healthy level of skepticism.

OHInsAGNT · 02-21-2009, 11:25 PM

Originally Posted by OSAAT

AgentOrange,

What kind of ROI are you getting on the UHC leads?
A UHC rep mentioned their lead program at a meeting a couple of months ago.

Thanks

The leads are PZ. The club is nice because you get $30 in lead credits for every app you place. They have good products in Ohio. So, the free leads can add up. If you're going to write with them, you should be a member for that benefit and the free/reduced quote software.

Don't expect the leads to build your book themselves though.

Tomas · 02-23-2009, 12:20 AM

I believe the most important question is not how much you spend on leads but what is your ROI. I can spend 100K per month on leads if I know that I get 500K from them...

berferd · 02-28-2009, 08:44 PM

I am in the senior market selling FE, I spend on average a little over $700 per week. sometimes a little over $1000 per week. The more you spend the more you make.

insuranceexec · 02-28-2009, 11:50 PM

Originally Posted by berferd

I am in the senior market selling FE, I spend on average a little over $700 per week. sometimes a little over $1000 per week. The more you spend the more you make.

The real question is:

How to create your own leads?

ProsperSBC · 03-01-2009, 02:57 PM

I just spent 250 bucks on 1300 names that fit my market. 25-38 with household incomes of over 100k with children, own a home, within 60 miles of the radius of where my house sits. Those 1300 names will generate 50,000 in fyc in my past experience just on the life side. Then I may have IRAs and mutual fund sales to go along with them but I treat that as bonus money.

Paradigm · 03-01-2009, 03:02 PM

What service did you use to get the data. Do you use direct mail or do you contact them by telephone?

ProsperSBC · 03-01-2009, 03:17 PM

Originally Posted by Paradigm

What service did you use to get the data. Do you use direct mail or do you contact them by telephone?

I use info usa and I send a pre-approach letter followed up with a phone call. My letter doesn't say the word life insurance anywhere its just talks about the benefits of life insurance. i.e. tax free dollars, no market risk, no limits on use, no penalties for early withdrawl--- you get the picture.

agent4sail · 03-01-2009, 03:38 PM

Originally Posted by ProsperSBC

I use info usa and I send a pre-approach letter followed up with a phone call. My letter doesn't say the word life insurance anywhere its just talks about the benefits of life insurance. i.e. tax free dollars, no market risk, no limits on use, no penalties for early withdrawl--- you get the picture.

I would be interested in your pre-approach letter. Will you post it, or pm a copy to me. Thanks

ProsperSBC · 03-01-2009, 04:27 PM

Originally Posted by agent4sail

I would be interested in your pre-approach letter. Will you post it, or pm a copy to me. Thanks

That would be like the colonel giving up the secret recipe for his cluckers wouldn't it? I will be more than happy to help you write your own just tell me what product your selling and the demographics of your audience.

joeblow · 03-01-2009, 04:56 PM

Originally Posted by ProsperSBC

That would be like the colonel giving up the secret recipe for his cluckers wouldn't it? I will be more than happy to help you write your own just tell me what product your selling and the demographics of your audience.

Prosper, that was both an excellent, and [I would say] GENEROUS answer.

Tomas · 03-03-2009, 12:23 AM

Originally Posted by insuranceexec

The real question is:

How to create your own leads?

Did you try Google AdWords or other similar "cost-per-click" advertising programs? It's easy to set up and run by yourself. Or is AdWords completely "occupied" by lead generation companies in America?
Still I believe you can get decent results and ROI with local targeting...

insuranceexec · 03-03-2009, 09:57 AM

I am sorry; I was referring to referral gathering.

Once the policy has been delivered and explained, I will have the customer give me several referrals.

I will then ask them to call and introduce me over the phone. I generally have them call 3-5 people, and send the rest a nice pre-approach letter. Out of the 3-5 that are called, I set on average of two of them. Simple, effective, and by-passes the DNC. Oh and did I mention it is free...........

81Firebird · 03-03-2009, 11:54 AM

For those of you who have been buying internet leads for some time, do you see an overall degradation of lead quality with most or all lead providers? To me is seems like demand is probably a ton higher than supply for quality leads. I was in the mortgage business for over 10 years and that is what happened with mortgage leads. At first when the lead companies popped up, the quality was decent. As soon as more and more lead companies jumped into the market, the quality diminished. I would bet that many of the insurance lead companies were originally mortgage lead companies. After they bled that industry dry and the market for mortgages bottomed out, they focused on the insurance industry. When you add in an endless supply of new agents, it will keep pushing the demand higher without much of an increase in the supply of quality leads.

With mortgages, many lead companies would promote things like get a $250,000 for only $450/month - no credit check required. Now with health insurance the add will read something like quality health insurance for as little as $5/day- pre-existing conditions ok, $0 copays office visits and prescriptions. This leads me to my next question- How can it be legal for a company to advertise specific finance and insurance products if they do not actually sell them? This goes against everything I have read on advertising laws for advertising insurance or finance related products. Along with the necessary disclosures when you get into specific prices, rates, etc.

The presumption is they provide a benefit to the consumer, making it easier to find insurance companies. Last I check it wasn't difficult for somebody to find an insurance agent, financial planner, etc.

bill3173 · 03-03-2009, 12:25 PM

Originally Posted by 81Firebird

The presumption is they provide a benefit to the consumer, making it easier to find insurance companies. Last I check it wasn't difficult for somebody to find an insurance agent, financial planner, etc.

Apparently, it's a lot harder than you would think. If I had time to take all of the homeowner's and auto insurance request that I get, I would double my income.

There are tons of people looking to get away from the local office guy they've been with for so long, and web marketing
Has driven consumer's interest to seek new suppliers of these services.

4milliondollaragent · 03-03-2009, 03:51 PM

I do a combination of direct mail drip marketing, leads programs, and CRM management and Im doing about 35K a month in business. I believe in direct mail because its always worked. I use relevent and also the newer Prospect-Pro by www.advisorspro-shop.com to manage my direct mailings. I spend about 6.5K a month in leads to make this money though and about 2K a month in prospecting.

jjjtrio · 03-09-2009, 12:40 PM

Originally Posted by ProsperSBC

I use info usa and I send a pre-approach letter followed up with a phone call. My letter doesn't say the word life insurance anywhere its just talks about the benefits of life insurance. i.e. tax free dollars, no market risk, no limits on use, no penalties for early withdrawl--- you get the picture.

Try findmylist.com prices are a little better.

ROI is the name of the game Test Test Test!!

bill3173 · 03-09-2009, 03:19 PM

Originally Posted by 4milliondollaragent

Im doing about 35K a month in business.

Is that first year commissions, personal production?