Exclusive Leads Trial: HometownQuotes.com

[djs]

Actually John, my problem nowadays with internet leads isn't as much the incentivized leads (which are bad, very very very bad) but its the recycled leads.

Leads that affiliates/vendors got 6 months ago are being put back into the system as new leads. 6 months later, they are put back in as new leads again. On and on it goes. I can't tell you how many times I've been threatened to be sued because of this (never gone beyond the momentary frustrated threat).

Its gotten to the point that I think some affiliates/vendors buy lists of aged leads and enter them as new leads.

And yes, I already knew about the $1.00 a day coverage sites, the free iphone/ipad sites, the if you drive less than 10000 a year sites, etc. Bogus, bogus, bogus.... but you have to have a gimmick I guess.....

Dan

 

[YouGotMyMoney]

Dan, how much would u be willing to pay for CA organic internet auto leads that went only to you and did not use any trickery to get a lead form filled out?

 

[Crabcake Johnny]

Actually John, my problem nowadays with internet leads isn't as much the incentivized leads (which are bad, very very very bad) but its the recycled leads.

Leads that affiliates/vendors got 6 months ago are being put back into the system as new leads. 6 months later, they are put back in as new leads again. On and on it goes. I can't tell you how many times I've been threatened to be sued because of this (never gone beyond the momentary frustrated threat).

Its gotten to the point that I think some affiliates/vendors buy lists of aged leads and enter them as new leads.

And yes, I already knew about the $1.00 a day coverage sites, the free iphone/ipad sites, the if you drive less than 10000 a year sites, etc. Bogus, bogus, bogus.... but you have to have a gimmick I guess.....

Dan

Some affiliates have discovered that it's legal theft. They can do almost anything and get paid.

I've received leads that were nothing more than data. Buy a list and start plugging the information into your landing page.

Of course, the lead industry is creating these criminals - especially with "no credit" policies as long as the email address is correct. How many email accounts can you create in a day? I can probably do 100.

 

[JP Savage]

We do not use hometown for leads, although we have looked into them a couple times. We currently use quotewizard for some internet leads. Although I give them credit for being very good at crediting bad leads, it is very frustrating when you are returning almost 60% of the leads. When the return ratio climbs that high another problem arises, it is very time consuming to chase bad leads. When we have the chance to actually quote people (not lead in quotes) we have a good closing ratio. I think most of us understand what sucks about the current internet lead generating system, does anyone have any honest ideas on how to improve or create a new system. I think Bob and other lead providers could benefit from the ideas.

 

[YouGotMyMoney]

JP how much does it cost u to speak to a live person?

take cost per lead x numbers of leads needed to speak to someone on average.

for example on health if ur buying leads @ $5 ea and it takes 5 leads to get someone on the phone who doesnt instantly blow u off, its $25 to get someone on the horn.

 

[JP Savage]

JP how much does it cost u to speak to a live person?

take cost per lead x numbers of leads needed to speak to someone on average.

for example on health if ur buying leads @ $5 ea and it takes 5 leads to get someone on the phone who doesnt instantly blow u off, its $25 to get someone on the horn.

we are probably at about the $30 to someone on the phone. I'm going off the top of head, no real hard data in front of me to review. To be honest, I've never really looked at from that perspective, and thank you for bringing it up.

 

[djs]

Dan, how much would u be willing to pay for CA organic internet auto leads that went only to you and did not use any trickery to get a lead form filled out?

Do I get all 3 of the leads myself?

Seriously, the quantity probably would be pretty low, but the quality might be there. I've had almost every lead company say this is how they get their leads, so I'm hoping you mean this for real, not just to get for the fun of it....

I have no idea what I would pay. Would I try them? Probably. Would I keep buying them? Depends on if I get a return or not.

No secret to my formula of what I'll pay though, I've said it before many times. Any lead source has to be at least break even after year 1. That pretty much means if my average commission on your leads is $100, if it takes me 10 leads to close a sale, I'll pay $10. If I can close 1 in 5, I'll pay $20, etc. If I can get the household (home and 2 cars) and make $300 first year commission, then there you go....

Of course, I do factor average retention into these as well. I've had lead sources that tend to cater to individuals who seem not to need insurance after the first few months.

Dan

 

[YouGotMyMoney]

we are probably at about the $30 to someone on the phone. I'm going off the top of head, no real hard data in front of me to review. To be honest, I've never really looked at from that perspective, and thank you for bringing it up.

sure np, thats one of the metrics that mattered to me. how much does it take to get someone on the phone, and then how many conversations does it take to get a taken app.

Like, when I sold health ins full time ( ok ok, as full time as my ADD would let me, ha) I would buy aged internet leads that were 1-2 days old, throw em into a dialer and just run through them sob's all day long.

I like that because the source of the leads was a call center a the aged lead vendor had a deal with. And I know they usually sell GoldenRule 99% of the time, back when they were 30% with a 9 month advanace.

I could just say when they told me they already got something, oh u didnt go with uhc did u?.......and it got me an in.

anyway, I really dont see this exclusive thing working out for agents. You see most successful affiliates are with BrokersWeb or Surehits. You've seen it before, you enter your zip code-hit submit and then a listings page comes up with listings for diff insurance lead vendors.

Well for health , affiliates get $3-7 per click. not per lead. If someone clicks on 2 vendors offers, the affilaite made $6-14. And they dont have to worry about credits/returns, anyone shaving their leads or issues with getting paid.

ALSO, its not the easiest thing in the world to scam the CPC vendors.

And its even better for Auto, you can get $5-12 per click on auto leads, So, for a lead co to get an affiliate to switch over they would have to pay more than SH or BW, which ain't gonna happen usually.

So for the agent the best thing you could hope to do, is if it worked out $$ wise, is to hook up with an affiliate that would send the traffic to you. Sure you'll pay a premium, but its night and day compared to shared internet leads.

 

[Crabcake Johnny]

Let's also remember that leads are scored by many vendors. These are the "Glenn Gary leads" and are sold to vendors and other large buyers. Guess who gets the leads that scored poorly?

 

[bullis33]

I would be interested in learning more about this.
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count me in for this program if it goes live