5 Tips to Organize Your Insurance Leads

Upon becoming an insurance agent, learning how to manage insurance sales leads, is one of your most important objectives. You could have people knocking down your door for business but if you can't strike when the iron is hot, you could be losing sales. Every time your purchase a lead the money comes from your bottom line, so making sure you get the most out of your insurance leads is key to a successful business. Follow these tips to maximize your leads’ potential.

  1. Create a data base of all your clients and leads.

    Once you’ve purchased the leads, create a database that will help you store and maximize their use. Recording your leads in one central database allows you to easily access them. Software programs such as Microsoft Office or Act allow for this but you may have a carrier technology at your disposal so use that to help stay organized. You can also try online systems such as iContact, Constant Contact or email brain. Make sure you combine this information with your client data so all your information is easily accessible.

    Remember, once you get the clients information from an online lead provider like NetQuote, that information is yours to keep and market to so long as the information is accurate. Just because you could not close a sale this month, doesn't mean you should give up. Reach out to the lead again around the time of an expected policy renewal to see if you can gain their business.

  2. Categorize your data.

    Now that you have all your clients and leads in one place, it’s time to categorize them so the information you need is readily accessible when you need it. Separate your existing clients from your leads. Then separate your leads into “hot,” “warm” and “cold groups.” Leads classified as hot represent your best opportunities for a sale and should be handled immediately. From there, move on to your warm leads and then, finally, to your cold leads.

    Be sure to include a brief explanation of why each lead is in the chosen category, in case you need to look back on that later. It is also a good idea to include each lead’s disposition, contact information (name, address, phone number and email), best time to call and preferred contact method.

    If your portfolio includes several different lines of business, you may want to add that information where applicable. You can organize your clients by policy type as well or you can go for a simpler method such as alphabetical or location. There is no right way to organize your leads but I would argue, not being organized is the wrong way.

  3. Don’t forget the small details.

    Referrals are the golden ticket in the insurance industry, and successful agents acquire them because they treat their clients like more than just customers. Record small details about your leads into your database, including their location, the product they sought and any requirements they had. If you remember other details, such as where you met them (if the lead came from somewhere besides a list), their spouse’s name or how many children they have, make sure to record those things as well. Even if the contact doesn’t make the transition from lead to client, your attention to detail may be enough to generate that much-sought-after referral to someone who will.

  4. Determine your return on investment (ROI).

    Purchasing a leads list requires an expenditure on your part, so it’s important to make sure you’re getting your money’s worth. Eventually every new business contact will either become a client or fall off your list. When that happens, don’t simply record whether or not the lead purchased a policy from you. Calculate the time it took to contact them, what product they purchased from you and for what area, and how long you spent on this sale. How long did you spend on a sale that didn’t happen? Your time is money as well, so make sure you factor in everything. If one lead service doesn’t seem to return a satisfactory ROI, it might be time to look at other options.

    To align with this, you also want to know what your lead sources are. BE sure to record where each insurance lead came from or how they found you. You may be surprised to find channels that you didn't expect to drive much business are actually outperforming all of your other insurance marketing methods, however, you will not know without recording the source of each lead.

  5. Make use of technology.

    Plenty of digital options are available if you are looking for automated lead model or sales tracking. Digital solutions such as simplesalestracking.com, pipedrive.com, quickbase.intuit.com and or the Base CRM app are all right at your fingertips and can be very helpful in assisting you as you track sales and grow your business.

    Large companies track clients and sales leads to ensure that they are capitalizing on opportunities and spending their money efficiently. As you acquire your sales leads, can you really afford to do differently? While there is no guarantee that any lead will turn into a sale, optimizing your leads and recording your past success and failures will offer you insight into the path that work best for you.

Category: Online/General

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