Lead Generation That Your Competitors Don't Want You to Know
Everyone knows one: an agent who seems to have a secret formula for lead generation. They may work with you at the same firm, may be someone you went to school with, or they may even be an agent at your firm’s biggest competitor. Whoever they are, their results are maddeningly successful, and – naturally – you want to know how they do it.
Keep in mind that what works for one person may not be the best approach for other insurance agents. Moreover, the super-secret lead generation methodology may be nothing more than a well-executed, common-sense approach. Before deciding to pilfer another agent’s records to find out how they obtain insurance leads, first do an honest review of your own methods. You may come to find that it is not so much that these enviable agents have a secret formula but that they handle the leads they receive in a way that is efficient and profitable.
Popular Lead Generation Sources
The Internet is probably the most prolific lead source available. There a many, many companies that provide Internet leads, and the quality of leads may greatly vary from one to another. There are a few things to keep in mind when choosing a lead provider:
- Price: You must be brutally honest about whether the leads you pay for are worth the price. You may think the person with the highest sales in the office pays a premium for leads, but chances are, they pay about the same as anyone else using a comparable service. Paying big bucks for the “best” leads may end up costing more than you make from them if you do not successfully close the leads.
- Quality: Are the leads from a particular company often stale? Does the provider guarantee the timeliness of the leads? Do they use filters and such to ensure you only get leads that are right for you? Are the leads generally reliable, or does it seem as if they got the names off a bunch a gravestones at the local cemetery? The truth is, many insurance agents make the leads they receive stale all on their own because they do not act on them quickly.
- Quantity: A few really good leads are worth a lot more than a bunch of stale, useless ones. A lot of excellent leads is ideal. Highly successful agents may use more than one lead source or just may know how to read the information in a lead to determine the most promising ones.
- Timeliness: Does the provider get leads out to their customers quickly? A really high-quality lead will get you nowhere if it is stale by the time you receive it.
The Human Factor
Our near constant use of technology spoils us. Many of us are now overly dependent on technology to the point that we think it does everything for us from start to finish. In the world of insurance leads, nothing could be further from the truth. Converting leads into sales requires diligence.
Lead generators typically provide the same leads to numerous clients. On top of that, many sourcing companies identify leads through the same resources. In other words, many people may receive the exact same list of leads even when they use different providers. What makes some insurance agents more successful than others is speed and diligence, combined with human interaction, intuition and intelligence.
Selecting a Lead Provider
Insurance companies spend a great deal of time developing informative and attractive websites. A strong Internet presence is essential because it bolsters client confidence and provides the agency with the means to show who they are and what services they offer. Most sites include a contact form for people to use if they’re interested in the firm’s services. Lead generation obtained through an insurance agency’s own website may produce the most valuable leads. There will, however, probably be fewer of them.
A good lead provider should be able to send your leads to various devices, including your office phone, your cell phone, your tablet, etc. This means you can no longer use the excuse of missing a lead because you were away from your desk. You can and must access leads wherever you are, as often as possible.
But all-access lead generation is a blessing and a curse. By contacting a potential client through a lead right after receiving it, you beat your competitors to the punch, and are first in line to offer your product to the potential client. After the second or third call, that lead is pretty stale, and chances are it will yield no business. Speed is paramount in landing a client, and the only way to beat out your competition is to have the leads reach you whenever, wherever you are.
Therein lies the curse of technology. Those leads will constantly pop up during lunch, while watching TV, at the movies, etc. You can turn off your phone, etc., but you may always wonder what you may have missed. Learning to strike a balance between work time, personal time and time that can go either way is important.
Responsiveness is Key in Closing Insurance Leads
Yes, you need quality leads, so do your homework and find a top-rated and reliable lead generator. Make sure your sales justify the amount you spend on lead generation. Then, when leads pop up on your phone or computer, act on them. Review the information provided, and then contact the lead, finding out what they need and explaining how your business can handle everything for them.
Those successful, hard-working, seemingly perfect insurance agents who always seem to land the best contracts (and who you love to hate) are probably successful because of their attention to detail and timely follow-up on leads. There’s no magic. There’s no secret. There’s no special sauce. They likely just understand the importance of quick and informed follow through.