2008 Lead Company Update

[somarco]

I have been in the business 27 years. I don't mind spending a buck to make a bunch of bucks.

Not bragging, but I do have a few years on you, and I do agree the adage you have to invest money to make money is still true.

I discovered early on in my career that I am a marginal prospector (but have improved dramatically over the years) and it is something I still hate to do.

My time is value and my skills are best put to use solving problems for clients than kicking tires trying to find fresh meat.

I would much rather go to the store and buy my steak rather than going out, tracking something down, killing it, then dressing it so I don't starve.

 

[Frank Stastny]

Listen, the less people telemarketing in my state means more clients for me. So if you're in MD stay away from cold-calling. It doesn't work and it's horrible. Maybe it works in other states but not in MD.

What really works is shared leads - and lot's of 'em. Get as many as you can and you'll be making six figs in no time flat!

Ditto for Missouri, especially in areas outside of St. Louis and Kansas City.

 

[Crabcake Johnny]

The problem for new agents is the learning curve - which is unavoidable. Regardless of your method: face to face or online you must have very sharp phone skills.

You need to become comfortable with talking to prospects, pre-screening, go over plans and rates, etc....

It takes a little while to really settle in and get comfortable on the phone. You really have to find things to say that are comfortable for you and effective.

Now - you can do that and spend hundreds a week or you can do that for free. I say do it for free and really get a handle on this. Once you have the confidence in yourself and your presentation there's nothing wrong with internet leads.

New agents should stay away from shared leads like the plague until they get good on the phone. And you'll get really good on the phone by:

A: Calling 5 leads a day
B: Calling hundreds of prospects a day

You pick.

 

[CHUMPS FROM OXFORD]

It looks like the common denominator for success seems to be "paying your dues."

Frank, John, Bob (of course there are more) have made countless of PHONE CALLS and fine tuned it to an art.

And Bob...because it's Friday, I'm not going to whine about Ohio's rates. Well...yes, I am. Ok. Maybe later.

 

[Frank Stastny]

Not bragging, but I do have a few years on you, and I do agree the adage you have to invest money to make money is still true.

I discovered early on in my career that I am a marginal prospector (but have improved dramatically over the years) and it is something I still hate to do.

My time is value and my skills are best put to use solving problems for clients than kicking tires trying to find fresh meat.

I would much rather go to the store and buy my steak rather than going out, tracking something down, killing it, then dressing it so I don't starve.

You obviously have found something that works well for you. I have to believe that it is more about what you are doing with those leads and how you are handling them as opposed to where you got them.

It may be that you are exceptional when you make the initial contact with a prospect turning a lot more prospects into potential buyers than the average agent is able to do.

Every successful agent has something that separates them from the masses. In a lot of cases I honestly believe that the agent themselves may not know exactly what it is or can explain it to others. It is the reason that someone else's successful phone script, sales pitch, etc doesn't work for everyone.

We each need to work at finding our own key to success. The key to my car is not going to unlock yours.

There is that distasteful word again. Being a successful insurance agent is spelled W 0 R K.

 

[Crabcake Johnny]

And "work" is not what new agents do when they only buy leads. A guess is the average new agent buys 30 leads per week. That's just based on my experience dealing with agents.

That's about 6 leads a day. Even after a few weeks have passed you're lucky if you're working more then 2 hours a day.

Then it becomes depressing as agents literally sit around all day with really nothing to do - except doubt whether or not this will work for them.

If you're new and want to get 30 leads a week then get 'em. However, do something with the rest of your time. All you have is time when you're new - you have no clients, no customer service, no renewals, nothing.

What you have is 8 hours to fill. If you're not gonna fill 8 hours then part-time work will = part-time pay.

 

[somarco]

it is more about what you are doing with those leads and how you are handling them as opposed to where you got them

A lot of truth to that.

Thx for the kind words.

Oh, and Ed. Quitcherbitchin about OH rates. That means you get to help more folks than I do which gives you less time for watching football.

 

[Bob_The_Insurance_Guy]

I have purchased leads, and I have developed my own.

My ROI is at least three times higher when doing it myself.

Truer words were never spoken. Buying leads is like calling an escort service, and not getting what you want. It's immediate gratification, but does not lead to an on-going, mutually beneficial relationship.

I've been in the business for 11 years, and have seen too many people go 'round and 'round about leads. Let me ask you this, when was the last time YOU filled out a comment card, got a call from it, did business with that person right away, and had a mutually beneficial professional/personal relationship?

Versus

When you get a referral from another professional, or from someone you've called on - be it a client or prospect, and have had the connection of that direct contact.

 

[Crabcake Johnny]

No, buying leads is like calling an escort service, a 300 pound girls shows up, doesn't screw you and your card gets charged $200.

 

[HomeService]

explain "shared leads"? is there where the lead co. gives the lead out to like 4 agents and we see who writes it first?