Insurance Leads - When You Should Pay For Them, When You Should Not
Leads cost. Even the leads you don’t pay for, and still get, by visiting businesses and universities can cost you some money. This may come in the form of marketing expenses. Additionally, generating leads this way will cost you time, which in business has its equivalent in dollars.
There really is no such thing as free. The best that an agent can do is to find a balance and know when to follow free leads and when to buy insurance leads. In most cases, an insurance agent does not need to pay for leads if he has the resources and capacity to conduct his own leads generation. For small businesses, buying leads makes more business sense.
An event-driven mailing list can be a good source of free leads. Here, the agent can hold events for his target customers, with the aim of getting the prospects sign up for an insurance quote.
Another way is to approach businesses. This is not always effective, but can provide good returns for an agent. HRs are always on the lookout for competitive insurance packages for their employees. If you have good products, you have a good chance of being considered.
On the other hand, you can use a portion of your operation and marketing dollars to buy insurance leads. Buying removes the need to spend on lead generation. In a way, you outsource your hunt for prospects to an insurance leads provider.
Leads for sale can either be shared or exclusive. Shared leads are cheaper, but competitive. It means you share the leads with other agents, which may lower your chance of getting the sale. Exclusive leads, on the other hand, costs more. But they make up for their price with their high ROI. Exclusive leads providers boast of conversion rate of as high as 50 percent.
As soon as you realize that you can’t always count on free leads, your business gets more room to grow. Purchased leads can boost sales, and are a great addition to your free leads.