Sunday, January 8, 2012

Buying Insurance Leads

Does the lead provider protect against agents from the same company getting the same lead? For example, will two Allstate agents get the same lead? The better lead companies offer this protection.
Does the lead provider require a deposit? In my experience, the higher the deposit, the more leery you should be.
Does the lead provider require you to purchase a minimum amount of leads? The bottom line is, the leads should speak for themselves. In this area, you do need to give a lead provider some time. The amount of time should be up to you. A good rule of thumb is to try 10 leads before making a decision about the quality of the lead source. If the company requires a minimum of 5-10 leads, that's fair. Any more should be a red flag.
How much do the leads cost? Cost is a major factor when entering into a relationship with any provider of goods and services. This is especially true when dealing with something that is not a physical good. Compare lead costs as a factor, but don't let this be all that you focus on.
What is the credit policy? Can you return 'bogus leads'? Some lead providers will cap your credit rate at a certain level (say 15% in a month). If you receive more than 15% in bogus leads, you should obviously be able to receive a credit for this. Be sure to ask if there is any limitation to the number of bogus leads credited.
Are the leads delivered instantly or are they delayed? Ideally, you want them delivered instantly. Internet consumers are a fickle bunch. They want information quickly. You should respond quickly. If the leads are sent to your email box, make sure someone checks it while you are out. If you don't want people checking your private email box, send the leads to someone who will be in the office. Make a commitment to respond to a lead within 30 minutes. The percentage of leads you turn into clients is directly related to how fast you respond.
Are the leads exclusive? In other words, are you the only one getting the lead? If no exclusives are available, how many agents will you be competing with? It's important to know so you have a fair chance to compete for the client.
Can you place any filters on the leads? For agents who deal only in standard or non-standard insurance risks, make sure you work with an insurance lead provider who filters or allows you to cancel the service at anytime.
What is the cancellation policy? How far in advance do you have to notify the lead provider before they agree to stop sending leads?

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