Life Insurance Lead Generation
Nobody can claim that term or mortgage life insurance lead generation is easy, and I do not plan to be the first insurance agent to say so, but I will say that it doesn’t have to be. You have to understand that when you are trying to generate those free life insurance leads, you are spending a lot of your time and that defeats the whole point. How much do you value the time that it will take you to find one of those life or annuity insurance leads for agents? You have to pick a number and keep it in mind the next time you are out on a mortgage or term life insurance lead generation hunt.
In other words, just in case you don’t know where I am going with this, all I am trying to say is that the same way you would pay a handyman to help you with some work at home, you should hire one of those companies that sell exclusive life insurance leads for agents to help you get those life insurance sales leads. Actually, I take that back. You first have to evaluate how long it takes you to find some of those life insurance sales leads and then turn that time into a dollar amount and compare it with the money that a life insurance lead generation company would ask from you for a sales lead.
You see, it all comes down to math. I have estimated that I make about $100 profit per hour when working on my office and I am following up on the exclusive life insurance leads that I have bought. I could be spending that hour elsewhere, such as running out on the street chasing insurance life leads, but since I can buy exclusive insurance leads for agents at $25 each, due to the quantity of leads that I can afford to buy, I would have to be able to generate at least 4 leads in that same hour for the numbers to match.
Now, I know that some of you who concentrate on life insurance lead generation will second guess that statement. You are probably thinking that this hour costs me $100 of potential profit, whereas when I am sitting at my office, I have to follow up with every life insurance sales lead and I could potentially follow up with tens of sales leads, so I would have to buy insurance leads which would tap into that profit that I mentioned earlier. Well, you are wrong. That is why I said $100 profit and not revenue. I have accounted for the cost of all the leads life insurance agents will have to buy during that hour. If I hadn’t, then I would have said revenue instead of profit.
Those profit estimations go even higher when I try to follow up with business insurance leads, where I could potentially tap into a whole insurance package sale for a company if I am lucky. So, while those exclusive life insurance lead generation methods may seem like the way to go, you always have to think out of the box and do your math! In most cases, you will find that when you buy exclusive life insurance leads for agents the results tend to be more rewarding.
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I would say that selling policies also requires getting some really good annuity insurance leads. Once you have new annuity insurance leads, you still have to close the sale, however, building new list is very essential for a profitable business.
Yeah I agree with you Nathan, but you can’t build the list of leads over night. You have to work hard and that too for long term as getting annuity insurance leads takes practice and patience. A quality list is indeed a long term project but to avoid delay, the new lead’s list can also be purchased.
Both of you are right, Nathan and Bracken, however, care must be taken when selecting a lead provider because all are not created equal. I would like to add something to your points. Another way to speed up the things and get plenty of insurance leads right away is to work with someone who specializes in collecting annuity leads.
Its common to find companies selling policies for the well known insurance services such as life, health and auto but anyone knows about burial insurance? How the burial insurance leads can be generated?
Dear Matthew, there are various internet websites where people shopping for burial insurance request their quotes. You can check some of those and their burial insurance leads will help you get in contact with serious applicants. Some of them also give access through preview (ofcourse hiding the name and contact details).
I would like to throw some light on the categories of internet leads. Insurance internet leads are now classified in two different categories buddy, one is the shared internet leads and the other one is the exclusive internet lead, which is being given to only one special client. However, clients for internet leads are mostly brokers and agents.
Yeah Wahid, these agents and brokers eagerly wait on internet to sell their insurance products to online quote requestors. These insurance agent leads also help in bringing good business to the company. I think this is a good way to save time and effort and generate quick business.
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