Cold Data Leads

[helgaemines]

I hope each of you had a great Thanksgiving weekend.

I ask those who use cold data to prospect for life insurance industry.

Are you successful closing sales with this type of data?

How do you work with this data?

My question is because if life insurance leads - which can cost around $20-$30 per lead - how can this type of service that is much cheaper - around $50 - $200 per month - be more successful?

Thank you!

 

[DHK]

I hope each of you had a great Thanksgiving weekend.

I ask those who use cold data to prospect for life insurance industry.

Are you successful closing sales with this type of data?

Wrong question to ask. The better question to ask is "are you successful beginning conversations and opening cases with demographic data?"

How do you work with this data?

Find the people who fit the filters you set that best match the problems you help people solve.

For example: Would you really want to talk to a 35 year old if you want to talk about optimizing Social Security? Probably not.

My question is because if life insurance leads - which can cost around $20-$30 per lead - how can this type of service that is much cheaper - around $50 - $200 per month - be more successful?

Thank you!

It's more successful when you know exactly who you serve, why, the problems they have, and how you can help them solve those problems.

But if you just want to quote rates and sell based on price and other contract provisions, then stick with those other insurance leads (that have probably been resold dozens of times).

 

[NewbieNewbie]

I hope each of you had a great Thanksgiving weekend.

I ask those who use cold data to prospect for life insurance industry.

Are you successful closing sales with this type of data?

How do you work with this data?

My question is because if life insurance leads - which can cost around $20-$30 per lead - how can this type of service that is much cheaper - around $50 - $200 per month - be more successful?

Thank you!

You may have answered your own question. If you bought a 3000 car versus a 15000 car which would you expect to be more road worthy.

 

[helgaemines]

But if you just want to quote rates and sell based on price and other contract provisions, then stick with those other insurance leads (that have probably been resold dozens of times).

Please, clarify...

 

[helgaemines]

You may have answered your own question. If you bought a 3000 car versus a 15000 car which would you expect to be more road worthy.

What exactly do you mean?

To the leads ($25-$30 approx.)?

Cold data ($100 - $200 month approx.)?

 

[DHK]

Please, clarify...

You already know about insurance leads. They are a lead that responded to something, some time ago. You are making contact with them based on whatever they responded to - usually just offering a quote.

Lists never opted in to anything. You make a proactive contact that makes sense for the demographic profile you want to target.

 

[helgaemines]

You already know about insurance leads. They are a lead that responded to something, some time ago. You are making contact with them based on whatever they responded to - usually just offering a quote.

Lists never opted in to anything. You make a proactive contact that makes sense for the demographic profile you want to target.
When you tell me that the lists have never opted-in to anything and that I need to make proactive contact that makes sense for the demographic I want to target; I might understand that I contact these prospects for the purpose of educating them.

With the listings, I can create a demographic profile to serve and help solve financial problems, educating them through emails and sending material of interest.

Am I right?

 

[DHK]

You use the info to approach them in a way that is legal and communicates your offering most effectively. It's up to you to figure out what that looks like and how to make it work best.

 

[helgaemines]

You use the info to approach them in a way that is legal and communicates your offering most effectively. It's up to you to figure out what that looks like and how to make it work best.

Thank you!!!

 

[Life Hawk]

I hope each of you had a great Thanksgiving weekend.

I ask those who use cold data to prospect for life insurance industry.

Are you successful closing sales with this type of data?

How do you work with this data?

My question is because if life insurance leads - which can cost around $20-$30 per lead - how can this type of service that is much cheaper - around $50 - $200 per month - be more successful?

Thank you!

A lead is a lead is a lead.

Leads are just a 'why' to see someone and begin a conversation... and that's it, that's all.

You don't even really know why they sent the lead in until you ask, and some will lie right to your face and tell you they didn't send it in.

The magic begins after, "Hello Mildred, my name is so and so and I'm here because you sent our card back to us."

I use to "cold knock" doors with no data or even a name. Much more difficult because the "why" was on me. I still (mostly in warm weather) do this to neighbors of folks who sent a card in, because I can and because I'm good at it. You have to go through a lot more stuff and people to get to the nuggets, but they are there. Crazy as it sounds, its something I enjoy doing at times...

The key is efficiency! Getting to the nuggets quicker. Leads help this.

Cost of doing business, and there is always a cost. Time/Money neither are infinite.

So...

If you are skilled, paying more for leads may actually lead to more sales in a quicker amount of time. Volume of business becomes your hero.

However; if you are still honing your skill set, it may take more of those expensive leads to get to the nuggets (prospects who purchase).

Much of it depends on your skill and ability, which will grow over time. Just don't dig a financial hole too deep while learning.

Suggestion:

Find a agent whose been doing this sort of thing successfully for a while and buy him a cup of coffee and have a list of questions ready to go. Also, strongly suggest you record your presentations and even have an agent follow you to watch and listen how you present. Very helpful in my early years.