You don’t have to look far to find agents that have lost money purchasing commercial insurance leads (or any type of insurance leads for that matter). We’ve found the following things contribute to an agency wasting their time and money. You work hard for your money. Keep it and invest it wisely!
Don’t fish in muddy water
How many times is the lead shared? Some commercial insurance leads go to 5-8 agents. Some leads also go to other lead sellers that in turn distribute the to an ungodly amount of people. That’s too many. Most people and businesses want to shop around and get a few quotes, so it’s helpful from the consumer’s point of view to comparison shop, but 5-8 agents is overkill.
In our experience, 3 is the magic number.
Three agents gives the consumer enough quotes to satisfy their need to shop the market while at the same time keeping everyone’s closing ratios high. Beware of exclusive commercial insurance leads. Exclusivity cannot be guaranteed. The insured will shop on their own.
Avoid sketchy sources
Where do the quote requests come from that are being sold to you? Lead generators often rely of third parties to drive traffic to their quote request forms. This can get results, but usually poor ones. The reason is that the 3rd parties do not have a vested interest in the quality of the traffic they send. This can lead to all types of quality issues such as
- Aged leads being sold as if they are fresh
- Recycling duplicates
- Unqualified, low-intent leads
- Fake leads
It pays to find a source that does not engage in any questionable lead generation tactics. The volume may be lower with those guys, but the quality cannot be matched.
Run, don’t walk, commitments and minimum spends
A source should stand on it’s own quality. The only thing that should keep you in the program is that you are making money. If there is no easy way to shut it off, it’s probably not a legit source.
Why on earth would someone force you to commit for a year or six months to their program before you bought it? One reason:
They aren’t confident in their leads and feel this is the only way to keep you as a customer.
Bottom line before you buy Commercial Insurance Leads
- Make sure the lead is not shared more than three times
- Find a source that deals in integrity. Seek out 3rd party reviews from a trusted source.
- Don’t make commitments. The quality of the lead should be able to sell itself.
Leads can be a great way to grow and scale your book of business…. but it all depends on the source and their business practices.
Want more info about our Commercial Insurance Platform?
Read about us. Call us at 843-882-7875. Or complete this form to learn how our program works.