Hello from All Web Leads

[CHUMPS FROM OXFORD]

"Yes, consumers get a list of quotes after they complete our quote request form"

I don't mind that. But why not get rid of the EHealth link? If the consumer wants to apply for coverage after viewing the quotes, let a broker who is buying the leads get credit...not EHealth.

 

[TXINSURANCE]

Average agent working shared leads quits. That said, agents who can put deals together on shared leads typically close 1 out of 20 - nowhere close to 1 out of 10.

You've been in this industry for close to 30 years. For new agents, buying shared leads is almost guaranteed failure.

Of all the top producing members of the association - almost all long since switched from shared to exclusive.

When agents join and express and interest to work shared leads I tell them to count on closing 1 out of 25 - which are the real stats for most agents.

There is no money in this business for exclusive lead aggregation and most agents IMHO will go just as broke with Exclusive as they will Shared. Either you can hang or you can't .

Once you have a client on the phone what is the real difference in Exclusive vs. Shared? Basically nothing. The challenge is reaching a prospect, and while exclusive contact rates may be slightly higher - not as higher as you would think.

Exclusive leads may be better to some, but only if you can reach them. The truth is most agents process and work ethic is the contribution to their success rate not the type of lead.

I don't mind that. But why not get rid of the EHealth link? If the consumer wants to apply for coverage after viewing the quotes, let a broker who is buying the leads get credit...not EHealtI don't mind that. But why not get rid of the EHealth link? If the consumer wants to apply for coverage after viewing the quotes, let a broker who is buying the leads get credit...not EHealt

Because this is generating $$$ for the lead aggregators. Ehealth pays $40 to ??? per application submitted varies by lead aggregators contract of course. So if 2% apply (making this up) that is 2/100. 10,000 lead and you are looking at 200 apps at lets call it $50 an app (making this up), so there is another $10k per month, for essentially doing nothing.

Is it fair or right? Your call. At least he didn't hide it like some lead companies do. The big issue is not the Ehealth submissions, the big issue is the consumer saw a plan for $76/mo online with a $10,000 deductible, no co pays and you call quoting $300+/mo you are toast.

Ask Ed - he is in Ohio, home of the $76/mo average premium.

 

[CHUMPS FROM OXFORD]

So true. And of course, the 6-0 270 pound smoking male with HBP sees that Aetna quote from EHealth.

Of course, he'll find out AFTER he applies for coverage.

 

[moonlightandmargaritas]

I don't mind that. But why not get rid of the EHealth link? If the consumer wants to apply for coverage after viewing the quotes, let a broker who is buying the leads get credit...not EHealth.

Then the lead company wouldn't get the referral fee from ehealth...

 

[somarco]

home of the $76/mo average premium.

Wow!

OH must have had a rate increase.

Go Ed!

 

[bill3173]

My average commission is $650 so my ROI on shared leads is roughly 8:1.

Use the same scenario for exclusive leads at $18 each.

That means I must invest $180 to make $650 for an ROI of 3.6:1.

Are you implying that the closing ratio on exclusive leads is no better than shared?

Just curious if this was what you intended, not that I disagree. In fact, the supposedly exlcusive leads that I've bought in the past, had a lower closing ratio and were of poorer quality, but I've only used one source for exclusive, so my frame of reference is weak.

 

[Josh]

ROI



So-called "exclusive" leads are usually 2x - 3x more than shared leads. That automatically cuts your ROI significantly.

While closing ratio's mean nothing, let's just assume I can close 1 out of every 10 shared leads. At $8 per lead (with filters) that means an investment of $80 is needed to secure a new client.

My average commission is $650 so my ROI on shared leads is roughly 8:1.

Another option is finding reasonably priced exclusive leads. With tons of companies out offering leads, in order to be competitive, some offer exclusive leads for either the same or only slightly more than a shared lead. It might be worth the research. I know that with Medicare Advantage my agents are using an $18/appointment company that is a completely exclusive lead. As a bonus, they close rate on them is around 35%.

 

[somarco]

Are you implying that the closing ratio on exclusive leads is no better than shared?

Not implying, saying that has been my experience.

I don't really track closing ratio's, so it MAY be a bit higher. When I have tried exclusive leads my cost to acquire a client goes up considerably . . . something on the order of 50%.

It costs me $70 - $90 to acquire a new client off shared leads. Last time I tried exclusives my COA shot up over $150.

This is health leads, not life, not Medicare.

YMMV.

 

[TXINSURANCE]

Not implying, saying that has been my experience.

I don't really track closing ratio's, so it MAY be a bit higher. When I have tried exclusive leads my cost to acquire a client goes up considerably . . . something on the order of 50%.

It costs me $70 - $90 to acquire a new client off shared leads. Last time I tried exclusives my COA shot up over $150.

This is health leads, not life, not Medicare.

YMMV.

Agreed. Very well described.

You would have a hard time convincing me to buy exclusive leads for 2 to 4 times the cost when the rate of people answering the phone (exclusive or shared) is so pathetic either way.