- 10,275
The "apply" button is back. So much for Vimo.
Your guide to shared leads
- Thread starter Crabcake Johnny
- Start date
I am a newbee, so you'll have to pardon my ignorance, but what is a "shared lead"?
Is there such a thing as an "un-shared lead"?
How do you know if your lead source is sending you "shared" leads?
Could someone iterate the difference between all sales leads available to the insurance market?
Is there such a thing as an "un-shared lead"?
How do you know if your lead source is sending you "shared" leads?
Could someone iterate the difference between all sales leads available to the insurance market?
Sometimes these guys get too wrapped up in their own bravado and think they dont need agents.
I really dont care for lead generators, or carriers, competing for my business . . . especially when I pay money for leads only to have them sell in house.
Golden Rule markets direct, but over 95% of their business comes from brokers. You would think they would get the idea and give up on direct sales.
Blue is a different story. In some cases 20% or more is from direct sales.
Even sites like eHealth only convert about 5% of the quotes generated by their site.
I really dont care for lead generators, or carriers, competing for my business . . . especially when I pay money for leads only to have them sell in house.
Golden Rule markets direct, but over 95% of their business comes from brokers. You would think they would get the idea and give up on direct sales.
Blue is a different story. In some cases 20% or more is from direct sales.
Even sites like eHealth only convert about 5% of the quotes generated by their site.
G
Guest
Guest
Would it be possible for someone to maybe update this post? Has anything changed with these companies... for better or worse? I've never used internet leads but I'd like to give it a try. I just don't know which company to try first!
Al
Al
I think a lot of pricing varies by market, your volume committment, and what filters you need. In general terms, the pricing probably hasn't changed so significantly that what is listed is bogus. Many lead companies have had some rate increases.
Bottom line, from personal experience, nobody can tell you what lead companies will work and which won't. If I said that I close 4freequotes at 50% rate, then everyone will go sign up, and my closing rate will drop to 3%. Shear mathematics (for the record, my closing rate with 4freequotes used to be over 20%, but low volume. I bought shared leads, but I was the only agent getting them for a while, then they changed their program....).
No lead company will last long if it works. The reason a particular lead company will work well are things you won't know when you sign up. If they say they sell the leads four times, but in reality, they only have 2 agents buying them, you'll do reasonably well, regardless of the quality of leads (providing they aren't bogus). Then they get more agents to sign up, and all of the sudden, your success goes away.
There are also natural events that cause leads to change. Have a flu scare, people will suddenly want health insurance, well, at least they'll shop for it. Lead quality will go down, just realize this.
Lead companies will have surplus of leads, other lead companies will have a shortage. Yes, they do sell leads to one another, and from agents, and from anyone who wants to earn a few dollars. If a lead company is buying leads, not generating them, the lead quality will go through the floor (i.e., prospect zone).
The other thing about internet leads (all leads actually) is to measure lead quality in terms of ROI, not in terms of lead cost or closing rate. If I pay $100 a lead but make $500 and close 100%, I'm doing well. If I pay $1 a lead, but only close 1 out of 100, and still make $500, I've spent a LOT more time to make the same money.
I strongly suggest to those who haven't bought internet leads before, go to leadsclearance (their leads come mostly from quotesauction) and buy some leads a few days old. They are very inexpensive per lead. I used to do pretty well with health leads that were 4-5 days old, since a lot of people procrastinate with health coverage, it was good timing. Use these leads to figure out the lead demographics that work for you (age, single or married, etc) and then sign up with a company or 2.
Rule number 1 with internet leads: Work them. Work them again. It's amazing how busy you'll get and then let a lead or 2 or 10 sit and get old.
Rule number 2: Have a system to track the leads, so you know what you've done with each one.
Dan
Bottom line, from personal experience, nobody can tell you what lead companies will work and which won't. If I said that I close 4freequotes at 50% rate, then everyone will go sign up, and my closing rate will drop to 3%. Shear mathematics (for the record, my closing rate with 4freequotes used to be over 20%, but low volume. I bought shared leads, but I was the only agent getting them for a while, then they changed their program....).
No lead company will last long if it works. The reason a particular lead company will work well are things you won't know when you sign up. If they say they sell the leads four times, but in reality, they only have 2 agents buying them, you'll do reasonably well, regardless of the quality of leads (providing they aren't bogus). Then they get more agents to sign up, and all of the sudden, your success goes away.
There are also natural events that cause leads to change. Have a flu scare, people will suddenly want health insurance, well, at least they'll shop for it. Lead quality will go down, just realize this.
Lead companies will have surplus of leads, other lead companies will have a shortage. Yes, they do sell leads to one another, and from agents, and from anyone who wants to earn a few dollars. If a lead company is buying leads, not generating them, the lead quality will go through the floor (i.e., prospect zone).
The other thing about internet leads (all leads actually) is to measure lead quality in terms of ROI, not in terms of lead cost or closing rate. If I pay $100 a lead but make $500 and close 100%, I'm doing well. If I pay $1 a lead, but only close 1 out of 100, and still make $500, I've spent a LOT more time to make the same money.
I strongly suggest to those who haven't bought internet leads before, go to leadsclearance (their leads come mostly from quotesauction) and buy some leads a few days old. They are very inexpensive per lead. I used to do pretty well with health leads that were 4-5 days old, since a lot of people procrastinate with health coverage, it was good timing. Use these leads to figure out the lead demographics that work for you (age, single or married, etc) and then sign up with a company or 2.
Rule number 1 with internet leads: Work them. Work them again. It's amazing how busy you'll get and then let a lead or 2 or 10 sit and get old.
Rule number 2: Have a system to track the leads, so you know what you've done with each one.
Dan
- 10,275
Afew quick comments...
Stay away from LeadsClearance (in my opinion). TERRIBLY inaccurate information and recycled leads that have been around the block.
Also...INSUREME just raised their rates. But, they have a unique system where the customer is presented with about eight agents and picks the ones they want to do business with. So...you might be in competition with all eight...or maybe just a few.
Stay away from LeadsClearance (in my opinion). TERRIBLY inaccurate information and recycled leads that have been around the block.
Also...INSUREME just raised their rates. But, they have a unique system where the customer is presented with about eight agents and picks the ones they want to do business with. So...you might be in competition with all eight...or maybe just a few.
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- 108
Group Health Leads
It seems that all the lead recommendations have been Individual/Family Market.
Does anyone have any recommendations for Group Health Lead vendors? Kaiser and Blue Cross both gave me two thousand each because I've been doing so well
. Now they want to invest in my success (ironic they both decided to do this at the same time) Previously I've been doing what John Petrowski has been doing, cold calling businesses, except I don't use a telemarketer.
I heard that Group Leads were even more competition but I'm up for it because of the success I have had with Individual leads. Any recommendations? My Act! software and Constant Contact are ready to go... http://www.insurance-forums.net/forum/member.php?u=4
http://www.insurance-forums.net/forum/member.php?u=4
It seems that all the lead recommendations have been Individual/Family Market.
Does anyone have any recommendations for Group Health Lead vendors? Kaiser and Blue Cross both gave me two thousand each because I've been doing so well
. Now they want to invest in my success (ironic they both decided to do this at the same time) Previously I've been doing what John Petrowski has been doing, cold calling businesses, except I don't use a telemarketer. I heard that Group Leads were even more competition but I'm up for it because of the success I have had with Individual leads. Any recommendations? My Act! software and Constant Contact are ready to go... http://www.insurance-forums.net/forum/member.php?u=4
http://www.insurance-forums.net/forum/member.php?u=4
- 3,863
LeadsClearance are hands down the worst leads and worst customer service they charged my credit card for months after I canceled I had to get my credit card company involved.
- 10,275
A shared lead is distributed to more than one agent. Usually 3-7. An exclusive lead goes to you only...for a while anyway.
Usually the lead source will tell you if it is a shared lead. An exclusive lead cost more....in the $12-$18 range.
Yanks and Sox in a wild one today.
Usually the lead source will tell you if it is a shared lead. An exclusive lead cost more....in the $12-$18 range.
Yanks and Sox in a wild one today.
