Insurance Agent Forum

Stay away from their leads...

I gave them a shot because they matched my $50 deposit with an additional $50.00. I have received 10 leads... 6 of them I've had to request refunds on. The idiot I've been dealing with is a complete ass as well. I asked them to refund my $50.00 deposit and of course they wouldn't do it. I'm sure it's in their "terms of service" but still... what a joke.

Stay away stay away!

Back to telemarketed leads I go!

[mmb98]

Thanks for the heads up. They have been hounding me with calls and emails.

[espressoguy]

I am also currently trying them and their sister company, leadsclearance.com. I have been with them for about 3 weeks and have only received 4 life leads and 1 annuity lead. Of these 5 leads, I have been unable to get a hold of 3 of them. 1 lead was interested, but has been unresponsive to follow up and the other lead was actually interested in health, not life.

I have bought 4 leads from Leadsclearance, 1 life, 1 annuity, 1 disability and 1 business benefit. The life lead was the only legit lead. They do not refund your payment, they merely credit your account.

While 3 weeks may not be long enough to give a fair trial, my initial impression is to not continue with them.

[CHUMPS FROM OXFORD]

Leadsclearance.com. ONLY buy their leads on weekends when it is discounted. But beware: these are heavily recycled leads with VERY inaccurate information. I don't use them any more.

And several butcher's aprons.

[Melmunch3]

I don't really use any internet leads anymore, but I LOVE leadsclearance's group health leads.

[healthagent]

In all fairness to QuotesAuction you can not determine true lead quality from 10 leads.

[salpro22]

What criteria do the vets use to determine lead quality?

1) How the lead is generated?
2) Percentage of bad leads (e.g., bad numbers, e-mails, etc.)
3) Ability to get credit or refund for bad leads.
4) Ability to turn leads on and off.
5) Lead stats (type of coverage, pre-existing conditions, timeframe for new policy, number, current carrier, premium, yadda yadda yadda).

Am I missing anything......

-J.R.

[healthagent]

I don't know anyone in this industry closing better than 1 out of 10 - so 90% of all leads are crap.

[SME]

I agree 1 in 10 is as good as it gets on internet leads. I have also noticed that it depends on the state. In AZ I can close 1 in 10 but in CA it is closer to 1 in 30. The bad info leads are HUGE in CA no matter what lead source you use. I don't really know why.

Originally Posted by john_petrowski

In all fairness to QuotesAuction you can not determine true lead quality from 10 leads.

True but you can determine how much of an asshole the guy you are dealing with is within 1 minute. I would stay away based on my experience with their customer service alone.

I don't have a problem with leads I can't contact... that's part of the leads system and I get that. What I have a problem with is receiving leads where the guy has diabetes, and has PUT on the lead that he has diabetes, but I have that filtered out.

[djs]

Originally Posted by salpro22

What criteria do the vets use to determine lead quality?

1) How the lead is generated?
2) Percentage of bad leads (e.g., bad numbers, e-mails, etc.)
3) Ability to get credit or refund for bad leads.
4) Ability to turn leads on and off.
5) Lead stats (type of coverage, pre-existing conditions, timeframe for new policy, number, current carrier, premium, yadda yadda yadda).

Am I missing anything......

-J.R.

Average commission per lead. This really speaks to everything. If I get 50 leads at $2 a lead ($100 total cost), and make $500, my average commission per lead is $10 ($500/50 leads). If I get 2 leads, and they cost me $50 each, and I close $500 in business, my average commission per lead is $250.

In both cases, my ROI is $5 per $1 invested.
In the second case, my time invested is much, much, much less, making it a better overall deal.

Bottom line, cheap leads are good for training, but not much else. Expensive leads will send your ROI numbers in the toilet quickly. It's difficult, but if you track your commission per lead source, you'll know quickly which ones are good and which ones aren't. In many cases, you'll be surprised, I know I am from time to time. It also helps to know when it's time to drop a lead source.

Lead sources, especially internet lead sources, change performance frequently, depending on a LOT of factors. Some are in house, some are external, such as which other agents get the lead.

QuotesAuction used to be a great lead source for me. I dropped them at the beginning of the year, since the only way to make money was to pay for filters that drove the ROI into the tank, which meant I didn't make any money.

So to add to your list, besides ROI, I'd add how 'customized' can your lead be? If you have to add a filter to filter out uninsurables, then your usually wasting your money.

Dan