Aged Leads

[kellyjames]

We are going to do a test of 2,000 term life aged leads over the next 2 to 3 weeks and report back results daily (I am new to the forum). I'm not going to post the lead provider in case it leaves the impression that I am working for any particular provider. Anything specific that forum members want me to be tracking?

We will be using an auto dialer with a generic scripts. We will probably purchase the leads today and start on it tomorrow.

 

[Justin Bilyj]

Are you filtering for ages, face amounts etc.? Are you doing apps via online screen share, mailing, etc?

 

[Thad.Sipple]

We are going to do a test of 2,000 term life aged leads over the next 2 to 3 weeks and report back results daily (I am new to the forum). I'm not going to post the lead provider in case it leaves the impression that I am working for any particular provider. Anything specific that forum members want me to be tracking? We will be using an auto dialer with a generic scripts. We will probably purchase the leads today and start on it tomorrow.

How does the autodialer thing work with these leads?

 

[LGilmore]

I would be curious about how many have bad data (phones, emails, addresses, personal information, etc.) I have purchased aged leads twice and each time around 50% were bad leads in the sense that you couldn't contact the lead cause the info was bad.

This bothered me because I wondered if the vendor knew they were bad (turned in for credit previously) and just sent them out anyway?

I mean I contact old leads I have kept and do make sales, but I don't know if I will buy aged leads again as I feel the first thing they should be filtered for is bad information. If the phone is bad the first time, it will be bad the second time too.

 

[GreenSky]

I still have ethics issues of aged lead sales. How do we know if the leads were generated for "no more than 3 agents" or exclusive?

They may have already been sold to the maximum number of agents promised yet a month or two later they are resold to anyone willing to pay for them.

I don't blame those who buy aged leads but it is a dirty business without ethics.

Rick

 

[Bob Klee]

Good point Rick.

Another issue: Are the leads TCPA compliant?

 

[Justin Bilyj]

Good point Rick.

Another issue: Are the leads TCPA compliant?

Their request for more information negates tcpa compliance if I am not mistaken.

 

[Bob Klee]

Their request for more information negates tcpa compliance if I am not mistaken.

Not if you are talking Aged Leads. Only new leads generated since October 15th, 2013 are TCPA compliant. And then only if the lead vendor generates them that way. On our lead form one has to sign electronically that they understand an agent will be calling them & it is okay to call them on their cell phone [common type of phone number given.] Thus we have a "born on" date for all our leads that includes IP address, date, time stamp & electronic sig. We must keep this data on file for legal reasons. I forget all the details but we made darn sure with our legal team that we complied with the law.

So it is NOT good enough that they requested more information. Search on the forum here. Long discussion about this topic last year. Of course, if one doesn't mind paying the fine, they can do what they want to!

 

[kellyjames]

Are you filtering for ages, face amounts etc.? Are you doing apps via online screen share, mailing, etc?

I haven't purchased the aged leads yet so I will let you know if I have any filtering in the 2,000 database. Doing apps online over the phone.

----------

How does the autodialer thing work with these leads?

I should have said predictive dialer not autodialer. A predictive dialer is a online software system that automatically calls a list of telephone numbers in sequence, screening out no-answers, busy signals, answering machines and disconnected numbers while predicting at what point a human caller will be able to handle the next call. Predictive dialers are commonly used for telemarketing, surveys, appointment confirmation, payment collection and service follow-ups. Sellers of predictive dialer systems claim that they greatly increase caller productivity. The phone calls you receive from "no one there" are often predictive dialer calls in which a manual caller isn't ready yet.

----------

I would be curious about how many have bad data (phones, emails, addresses, personal information, etc.) I have purchased aged leads twice and each time around 50% were bad leads in the sense that you couldn't contact the lead cause the info was bad.

This bothered me because I wondered if the vendor knew they were bad (turned in for credit previously) and just sent them out anyway?

I mean I contact old leads I have kept and do make sales, but I don't know if I will buy aged leads again as I feel the first thing they should be filtered for is bad information. If the phone is bad the first time, it will be bad the second time too.

My goal is to purchase 2,000 life insurance leads 3 to 90 days old of people who searched for life insurance quotes on the internet and filled out an online form to get quotes. I am not as much concerned on how many are bad emails or phone numbers. I want to see what the results are on a 3 to 4 week campaign done right (meaning worked at least 4 times and followed up on). I'd buy a list from a vender over and over again with a bunch of bad data if the numbers work out in the end.

----------

I still have ethics issues of aged lead sales. How do we know if the leads were generated for "no more than 3 agents" or exclusive?

They may have already been sold to the maximum number of agents promised yet a month or two later they are resold to anyone willing to pay for them.

I don't blame those who buy aged leads but it is a dirty business without ethics.

Rick

Rick,

Lets tackle the ethics as a followup after the campaign is over. Its probably not worth discussing if working aged leads aren't an effective use of time.

 

[GreenSky]

Lets tackle the ethics as a followup after the campaign is over. Its probably not worth discussing if working aged leads aren't an effective use of time.

So let's assume they are effective. Would that make them ethical?

My beef is with the lead companies. I know HTQ won't sell aged leads but most others likely would.

How would you like an exclusive lead you bought a month ago to get a call from another agent, especially when you're still working the lead? You paid $25 for the lead and the other guy paid $3. You quoted standard (which is correct) and the other guy promises preferred. What happened to your prospect?

It's an amazingly dirty business.

Rick