There comes a time when companies have to start buying leads in order to jump start a new business, survive in the business they are currently in, or continue to grow and increase ROI. Even if your company is currently generating leads they should always aim to attain higher quality leads.
If you are an insurance provider buying leads, here are a few tips to help you purchase the best leads for your business.
1.The Lead Source: Where your lead came from is one of the most important factors to consider. Did they come instantly from a search engine, a month old sweepstakes form at the mall, the white pages etc.? Knowing the lead source should be the first objective in determining if the leads you are generating will convert to profits. If you’re buying leads from someone, make sure you know exactly how those leads are obtained. You don’t want to pay for leads that would’ve never converted in the first place, simply because of their origination.
2.The Age of the Lead: When was that lead obtain? When did that lead give up their info? Was it a year ago or 5 minutes ago? Newer leads are much easier to convert because typically the interest is still there.
3. The Cost of our Leads: The majority of the time, factors 1 and 2 will affect the cost of the lead, when it comes to attaining leads its all about the end result or ROI. You must determine how much each lead is worth based on variables such as conversion rate and revenue per sale. There are also other factors to consider on the buying-side such as how much your competitors are willing to pay and the temperature of the lead. You should only buy leads that are worth your money AND time.
4. How many other companies have access to your leads: Do you get first dibs on them or do you have to wait a couple turns? This is a huge factor to consider.
5. What made the person give up the information: This relates to factor 1, the lead source. What type of marketing method or advertising ad was being used? Did they entice their users with incentives or prizes? Did the ad promise them the world? Do the leads even realize what they are filling out?
6. Research : ‘Google’ the company you’re buying your leads from along with terms like “scam”, “review”, “fake”, “fraud”, “cheat”, “ratings”, “listings”, etc. This will help you determine what type of company you are giving your money to.
7. How Qualified is That Lead: Was that person actively searching for your service or your help in search engines? Did it come from a form on an website notorious for providing your industry’s best information and resources? Or, did that lead come from a business owner that just wanted to download a free ebook?
8.Don’t Hesitate To Question Your Seller. The 7 tips above are all basic lead buying best practices that all dealers should be ready to address.
Use these eight tips to help you buy better leads.
For a comprehensive guide on insurance buying, insurance CRM and other methods of lead generation best practices, download Leads360′s whitepaper “Insuring Success: How to Use Internet Leads to Reach Insurance Buyers” here.