October 22, 2015
When buying inbound auto insurance leads, many buyers make some common mistakes which lead them to losing money on their investment and often ‘swearing off’ buying insurance leads again in the future. The reality is inbound auto insurance leads work and the key is to figure out how they can work for your agency. The following are 5 common mistakes that you should avoid, if you are buying inbound auto insurance leads for the first time.
1. Try to buy the cheapest inbound auto insurance leads. Buying the cheapest insurance leads does not mean you are going to have the best ROI or limit your expense exposure. It is best to work with a company that has a good reputation, that has a good return policy and that will work with you to customize your auto insurance leads to meet your needs. The price of an auto insurance live transfer or inbound auto insurance lead has no correlation with the success you will achieve.
2. Limit your trial to too small of a test. Many agents trying out a new inbound auto insurance lead program will purchase a few calls and think that is enough to determine if a program will work. The reality is inbound auto insurance leads or calls is a new way of doing business and will require new skills, new processes and new ways of thinking. It is best to make a 90 to 120 day commitment to using inbound auto insurance leads to figure out how to make them work. The undeniable truth is inbound auto insurance leads work. Sometimes you just need to figure out how to make them work for your agency.
3. Have newly licensed agents or producers take the auto insurance live transfers or inbound insurance leads. With inbound auto insurance leads, you still have to sell the consumer on your company, the insurance product and your ability to service their needs. Having lower skilled sales staff take these calls is a recipe for failure. To make sure you have the best chance of closing these inbound insurance calls, it is recommended to have the highest skilled agents in your office take these calls.
4. Try to only buy the “perfect” call. Some agents will try to limit the inbound auto insurance leads they buy to only what they perceive as being the perfect candidate. This limits the opportunities they will have to sell and means they will be going after the most competitive segment of the market. Everyone wants only the top tier candidates and there is significant competition for these insurance consumers. It is best to buy as many calls as possible and the widest variety.
5. Not follow-up with the inbound insurance lead if they don’t buy on the first call. It is very important to follow-up with consumers to close the deal. As part of this, agents need to work with the leads to adjust the auto insurance quote, to better meet the leads needs, if it is not exactly what they were looking for initially. Some agents will provide an initial quote and then have a “take it or leave it” attitude rather than trying to find a policy that meets their needs.
Agent Ethan Kosmin Generated over $200,000 in premiums during first year in business thanks to Contact Concierge.
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