Insurance Leads - A Better And Easier Way To Make Them Work For You!

By Author: palmahein
Total Articles: 16
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Now, this will be another article on insurance leads. As I have noted before, two thirds of insurance shoppers now go on Internet to get quotes and it's becoming more common. Looks like they are here for the staying. You love them or hate them. There is only 2 options now to deal with the situation. We can close our eyes, complain and have our stomacks growl or we can actively deal with the situation, make a plan and get our bread buttered.

I do see a lot of opportunity on the internet and I am not alone. The big guys of the industry are even turning to the Internet for insurance leads. Even going so far as to build sales processes around them. If you feel like taking a piece of the pie, 5 steps are provided to succeed with this.

Step 1 - Do the calculations. It's amazing how few of the agents take the time and do the math. For example, you sell all types of insurance and the average revenue every year for a new client is $1000 (this number includes up-sells and cross-sells).

What if you purchased 100 leads per week for $10 apiece and closed only 3%. What is the amount of money being made in a year? Would ...
... not it be shocking if you knew that it would make your net profit $104,000?

If you made only half the amount of the said number while with increasing the conversion rate by 1%? How much would that be in a year? 50 leads every week for $10 apiece with a conversion rate 4% would make the profit climb as high as $78,000.

What if you happened to make only 20 insurance leads a week, but being good with selling and making the conversion rate go up to 10% conversion rate. How much would that make you yearly? Assuming the same parameters as before it would make an annual income of $93,600.

Step 2 - Develop an edge over the competition. Your sales and your income is influenced by the conversion ratio. If you manage to increase the conversion ratio, the net result is - more money, less work involved. In order to increase this ratio for insurance leads, we need you to develop a nice competitive edge.

Remember this fact - on the Internet there is no exclusive insurance leads. It holds true even when lead provider is selling a given lead just once, as consumers are believed to go shopping to several different sites. What does it mean for you? You have to stand out! One way to do this is ask yourself - "Why me"? Imagine walking in in the potential buyer's shoes for a second and then ask yourself - why would they choose you for this purpose over the competition that is also selling insurance leads. Make your answer good.

When you have answered this question with a solid one, then try and communicate it so every prospect in your email, sales copy and all other types of communications you are delivering for your prospects to see. Done right, the prospect's mind will not question who you are as well as what makes you stand-out in this business.

Step 3 - Now, after finishing the first two, you have to get a good insurance lead provider. Can be tricky at times. There are the good ones and there are the shady ones. Unfortunately the honest companies reputation's have been hurt by the others who are out there just for easy cash. The sanest advice I can give to you is to cooperate only with companies who will be willing to try some insurance leads free of charge. Watch out with this though. Some of them will claim to provide free insurance leads and then ask for a long-term contract and/or a minimum purchase. Whenever they are trying to ask you to buy something, it means the leads aren't free. A company which indeed has confidence in itself will provide some free insurance leads for you.

Step 4 - Measure the results. It's a very important step in the process. You should track each and every insurance lead and keep track of the results. Also take into consideration the time that is spent on making a sale. For example, you get 10 leads with just 1 convert, now ask yourself - how about the amount of time that was spent on making the sale? That time includes the time spent following up on those 9 leads, which didn't convert as well as the 1 that converted. Now, make a calculation of how valuable is your time to you and then include it in the acquisition cost. When you have all this data, now you can compare the purchased insurance leads with the resulting data from the other tasks of sales and marketing. It helps you to see where the leads are working as well as the points where you should best focus the time and resources. Also a good idea is to try different providers of leads so the results can be measured and compared to ascertain which providers are the best return for investment.

Step 5 - Polish the sales process in order to increase the results. When you start working with insurance leads and measuring results, there will be some visible patterns. They tell you how your sales process is going. Are the prospects being reached too late? What about losing big percentage of prospect the first time you call? Take a look at the steps where there are some complications apparent. Now concentrate towards improving these areas. It may look obvious, but too many agents do not use scientific approach in dealing with their business and then complain about the results.

After all, remember this - it takes time and energy in order to develp a well working system. You should just be patient and keep going. Using the 5 steps and polishing the processes, there should be some improvements and you may find out - it's even fun to work with insurance leads as well as profitable.
The insurance leads you pursue should be genuine and should have a good hit rate - that is you should be able to convert a substantial number of them into your customers.For more information please visit http://www.allwebleads.com/