Radio generated leads

[Sam]

I have heard some very conflicting opinions about radio generated health insurance leads. Tx says that they suck and he really doesn't like them. The regional director of Mega here says that they are her best leads. In fact, her son works for her, and those are the leads she gives to him.

The variables I can see in radio generated leads are:

1. What programming you air them on.
2. What channel you air them on.
3. What time of day you air them on.
4. What the commercial says.
5. What the call to action is.
6. What area of the country your ads are playing in.


Anyone have any thought on this? I am curious why there is such a discrepancy in views.

 

[TXINSURANCE]

If you target good demographics (not broke people) an run a clean ad (not $39/mo Health Insurance like Vimo) - guess what happens? You get no calls.

If you want to target self employed, good demographics, you need to run a TON of ads which then drives your costs through the roof accordingly.

I am not saying do not try it - but it is a very expensive beta test. Google does have radio ads where you can get some good deals but you do not have as much flexibility (can not choose channels).

The last ad campaign with Google was targeting good demographics, self employed and had nothing goofy (like $39 health insurance) - after $4000 of ads we had 0 calls (calls were being tracked via a special Google provided 800 number).

I do see value in:

-Local radio and community shows
-Q&A on AM radio "health" shows or business shows
-Personalities reading your ad and promoting your goods

I am not saying all radio is horrible - obviously it is not. I am saying it is very challenging on a small budget and for Health Insurance.

To answer Mel's questions specifically:

-I am not sure I see the value advertising outside of your business hours unless your call to action is a website vs. telephone number
-Call to action is usually phone, website or both. Most people will forget the website (since they are driving) unless you run a billion ads like Geico or have a catchy site name (even then they will forget)

I also have one other basic question - if it could be done affordably wouldn't the radio be flooded with Ehealth ads? Just a thought.

 

[Crabcake Johnny]

I know from my Mega days, and being friends with my former manager that he was charged half - $42 per radio lead and the other half was picked up by the DM - so over $80 per lead. Heck, we had a 20 page ruckus on $30 Vimo transfers.

 

[Sam]

I appreciate the info. I was just curious because they were so adamant that they were their best leads.

Incidentally, I have heard the ads and they definitely target the self employed and they only have a phone number.

What about billboards, ever try those?

 

[Crabcake Johnny]

Well, when you're giving the radio leads to career criminals who have a 100% closing ratio by lying about Mega coverage then yeah...the leads are great.

 

[TXINSURANCE]

I was planning on experimenting with billboards but my thought was again for my industry it may not work. The same people drive by it every day - I was just thinking if I could remember ONE billboard I drove past today (likely passed hundreds of them) , and I can not remember ONE.

In Houston we have a place that rents digital billboards you can literally rent by the DAY. Just a thought to do some creative experimentation without a huge investment.

I still think in terms of low cost per lead and ROI there isn't much as low as Internet leads. I know Internet leads are not perfect but we do a SMALL amount of offline media and everyone one of them is our most expensive cost per sale.

 

[Expat]

I tried billboards, results sucked.
1 on the I35 in Dallas, 1 on a busy road in Abiline. NO calls at all. Both ads were on display for 3 months.

I tried radio ads in Abilene. 5 times per day for 1 month. Country and western station of course, this is west Texas. 2 calls, 1 sale.

Unfortunately this was many years ago and I cannot remember how much I paid . But I do remember that it was a waste of time, effort and money.

 

[HomeService]

When I worked for San Antonio office of Mutual of Omaha like in 1994-95, and we had a pretty good major med then, our manager ran some billboards on I-35 and loop 410, with great results. I sold a few. That was 1994-95, though.

 

[Sam]

I was planning on experimenting with billboards but my thought was again for my industry it may not work. The same people drive by it every day - I was just thinking if I could remember ONE billboard I drove past today (likely passed hundreds of them) , and I can not remember ONE.

I don't think this matters. You may not have been in the market for any of the products that were for sale. There will always be a small % of people that just got a rate increase, or just started a business, or have some other timely reason why they are interested in insurance now. That would be the target market.

I never thought about the billboard market much, but I do know that it would be very easy to test with a unique number and landing page. All it takes is money!

UHC is doing a big billboard buy in Northern Virgina, for their small business products.

 

[J.R.]

I have heard some very conflicting opinions about radio generated health insurance leads. Tx says that they suck and he really doesn't like them. The regional director of Mega here says that they are her best leads. In fact, her son works for her, and those are the leads she gives to him.

The variables I can see in radio generated leads are:

1. What programming you air them on.
2. What channel you air them on.
3. What time of day you air them on.
4. What the commercial says.
5. What the call to action is.
6. What area of the country your ads are playing in.

I take it you're talking about Rochelle, since I do not believe Steve is a woman yet. John did hit it on the head though. Newbies cannot afford the leads and the more experienced reps know what to say and not say to get a deal. At a minimum, I would need items 1-6 answered and then some, before understanding the efficacy of the marketing campaign. I'd like to know the specifics about what made them her best leads compared to others.

I'm in the process of completing a commercial and it's not going to be your standard Mega, HBD, Assurant clip or those lovely discount plans commercials that make you want to take Zoloft and fall asleep.....BORED!!!!!!!

I don't know what Joe did, nor have I seen his videos and stats of the campaign, but something is wrong when you spend $4000 and return $0. I understand his position with that kind of return, but the google commercial is huge depending upon how you attack it. Youtube has a great program for video producers whom wish to share their videos with youtube and other sources. You OWN THE COPYRIGHT! Google is very smart. You do have to qualify though for the opportunity though. Judging from the crap I have seen on youtube it shouldn't be that hard.

Most companies I've researched want around $10-$25k to produce a video with all the extra perks and THEY WANT TO KEEP THE COPYRIGHT. This is legal and well within their rights. From my standpoint, that is stupid and will NEVER be allowed! I almost fell out of my chair from laughing so hard when the companies I talked to were stumped about that question or tried to side step it.

If you want I send you a few links to check out that might help you become more educated about your options. PM or e-mail and I'll send em your way.