Too many producers waste their most precious resourceâ€”their time. TheyÂ pursue insurance leads, annuity leads, or investment leads that should not beÂ pursued. This page explains the different types of insurance leads and investmentÂ leads, and gives a general lead generation comparison, and then tells you howÂ to minimize your loss of time pursuing leads that won't result in business.
Low end insurance leads and investment leads
We found a company that has consumers complete cards (fromÂ a county fair or other public venue) and answer these questions:
The respondents are age 45 to 64 and have minimum net worthÂ of $300,000 (which means almost any homeowner will qualify)Â and household income of $100,000. The insurance lead generation company
that produces this annuity lead guarantees to the advisor that 100% of the prospects will be reachable by phone.
Obviously, itâ€™s IMPOSSIBLE for them to guaranteeÂ that because you know that there are people you can neverÂ reach by phone. You call all times of day and you onlyÂ get their voice mail. So be careful about lead guaranteesâ€”thinkÂ for yourself if the lead guarantee can actually be provided.
So their backup guarantee is thisâ€”if you order 1,000 insuranceÂ leads, they will guarantee you earn at least $10,000 in commission as long asÂ you â€śpursueâ€ť the leads. If that guarantee is not fulfilled, they
will replace the insurance leads.
Think about thisâ€”if you call 1,000 peopleÂ from the phone book, you'll also earn at least $10,000 in commission! Even thoughÂ the cost for their leads is low ($1.18 each), you are basically buying names
no better than those in the phone book!!!
The prospect does not know who youÂ are, they have not expressed any significant interest, and probably filled outÂ the card because they were included in a drawing to win a new car. On top ofÂ that, the lead card may be eight weeks old!
These annuity leads are very inexpensive but are also worthless.
Please think through what the lead company is telling you. Ask yourself:
Does the method of lead generation indicate an interestedÂ buyer?
Does the method of lead generation indicate a motivatedÂ buyer?
Does the method of lead generation indicate a qualifiedÂ buyer?
Or will you just waste your precious time on the phone calling leads that are nothing other than names. A quality or investment lead insurance lead generation system generates leads that are low volume, high quality.
(Some professionals in financial sales are volume oriented--theyÂ prefer a LOT of leads--but a LOT just means you waste yourÂ time calling a LOT of unqualified, unmotivated people).
You don't want a lot of leads that waste your time.Â You want leads that become buyers. ASK for evidence ofÂ that before you buy insurance leads or any type of leads.
Next,Â donâ€™t be fooled by anyoneâ€™s offer of inexpensiveÂ or free â€śleadsâ€ť as they are worthless. TheseÂ are actually not â€śleads.â€ť They are just namesÂ and phone numbers and you can get the same value by simply
calling into the better neighborhoods in your area andÂ these will be free from the phone book. Or call any listÂ broker and for 10 cents a name or less, buy lists of peopleÂ that are age 60+ and have net worth of $500,000 or more.
All low end insurance lead generation systems like this are builtÂ on one fundamental ideaâ€”if you call enough people,Â you make money. So these high volume lead systems wasteÂ your timeâ€”hours and hoursâ€”while you call unqualified,Â uninterested people who donâ€™t know who you are. Resultâ€”youÂ waste your most precious resourceâ€”your time.
High End Leads
At the opposite end of the insuranceÂ lead and investment lead quality continuum is a lead generation
company that charges $110 per lead. Yikes!! These leadsÂ are generated through forms on the Internet. People encounterÂ a web page that offers a quote for a particular productÂ e.g. annuities, term insurance, or long-term care. PeopleÂ may be as far as 75 miles from youâ€”so the chance they willÂ come to you is zero, which means you may need to driveÂ three hours (there and back) for potentially nothing.
The insurance lead generation company guarantees that the lead has $5,000 toÂ invest. I donâ€™t know about you, but most people in financial sales areÂ not interested in a prospect with just $5,000. Your minimum is likely $50,000Â or $100,000. If you don't have a minimum investment criteria, you'll end up
in three years with 800 small clients that waste your time, and you'll be strugglingÂ 11 hours a day to make a living. This lead company's additional guarantee isÂ that the leads are at least 40 years of age. This is not much of a guaranteeÂ for $110 per lead.
The good thing about these insurance leads: they are InternetÂ leads. In this firm's case, their insurance leads are guaranteed to be not moreÂ than 48 hours old. However, they note that up to 15% of the leads may be badÂ and they will replace them. Internet insurance leads are always better than
any lead generated by a form, or anything handled by mail or physically handled,Â as it will be weeks old before you receive it. The Internet is instant, so youÂ know the prospect is fresh.
IfÂ the lead does not meet the following criteria, the firm will giveÂ you a replacement lead:
You decide if that is worth $110 to you.
SeniorLeadsâ„˘ - The way we do it for $22 per prospect
Our insurance leads and investment leads are also InternetÂ leads and you get them via email
within three minutes of the prospect completingÂ the lead form on the Internet. (Because we know that emailÂ is inherently unreliable, we also store your leads online,Â and we urge you to check them at least twice weekly onÂ our server via the internet).
You can specify a radiusÂ as small as ten miles. You will not waste time drivingÂ to far away leads, and the people live close enough toÂ come to youâ€”soÂ a meeting becomes far more likely. They live in your neighborhood.Â You specify the type of leads you desire (annuity leads,Â life leads, mutual fund leads, long-term care leads, IRA/401kÂ rollover leads, etc).
Here's the special partâ€”before you contact the lead,Â you send a an educational, well-written 15-page booklet (we provide) personalizedÂ with your name, photo, credentials, contact information, and biography.
BecauseÂ prospects receive the booklet before you call, they are already impressed byÂ your knowledge. You look like a professional, not a salesperson. And this isÂ where all other insurance lead and investment lead systems fall down. OtherÂ lead systems have you call the prospect with no "introduction" and
you come off as a sales person, and not a professional, and you don't get theÂ appointment. In addition to providing the bookletâ€”which creates a superÂ favorable first impressionâ€”we provide you with an instructional guide,Â sample audio files and weekly coaching on how to follow up with the leadsâ€”so
that you set plenty of appointments, along with unlimited access to our video training.
Here's how we think. If we make you successful in converting your insurance leads and investment leads to appointments, you keep hiring us to find you more prospects!
You won't get a ton of leads to waste your time. You may only get three toÂ five a week, depending on your radius. The leads come to you fast and give youÂ a much higher probability of setting an appointment. Does it work? ListenÂ to what advisors say.
Leads are $22 each, which includes emailing your personalizedÂ booklet, if you so desire.
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