How many leads do you actually close? ( Lead Conversion conversation )

Sep 13, 2008

  1. iProtectMom
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    Hey girls and guys, first post!

    I am excited to join this forum and I hope I get to know you all. As I was reading a book tonight, a puzzling question came up and I had to get the answer!!! :)


    What percentage of your leads do you close?


    So if you bought 100 leads, and you closed 10, it would mean a 10% closing ratio or lead conversion ratio.
    ( not to be a smart ass or anything lol ;))


    And a second question I just came up with is...

    What happens to the other 90 leads that didn't go anywhere?

    I will reveal why I had such a burning desire to get the answer after I get a couple of responses.

    Dan
     
  2. salpro22
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    Wow, the suspense is killing me here!!!!

    I take the other 90 leads and sell them to other agents as aged leads, so I can recoup some of my costs and minimize my costs.

    Now......let's hear it!!!!!
     
    salpro22, Sep 14, 2008
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  3. Paradigm
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    I take the other 90 and turn them into beautiful origami or paper airplanes if they a PZ leads :twitchy:
     
    Paradigm, Sep 14, 2008
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  4. GreenSky
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    I would close all 100!

    Rick
     
    GreenSky, Sep 14, 2008
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  5. JRoot
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    Drip campaign until they tell me to take a hike
     
    JRoot, Sep 14, 2008
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  6. iProtectMom
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    Thank you for all who answered!

    And thanks to salpro for the a bit of humor...

    Well, whether you generated the leads or you bought them, there are certainly alot that simply fall off the books and are never sold to.

    I'm thinking that if you gave those leads to a firm that used a process based approach, that would allow the customer to see an added value of your relationship without necessarily selling them a product, then your ROI on those leads would be much higher.
     
  7. djs
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    djs Super Moderator Moderator

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    Should I bite, and make the mistake of asking....
    Why would I give them to a firm? JRoot is right, drip market, and you're done.

    Okay, never mind, this sounds to much like a spam offer, not like something a highly talented, marketing machine, insurance agent would need.

    If I'm wrong, and you are not offering a firms services, please let me know why I would outsource the leads.

    Dan
     
    djs, Sep 14, 2008
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  8. iProtectMom
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    lol no, I am not spamming.

    Well I owned an life insurance agency and we always had to literally throw away leads that fell off the sales cycle.

    I am now building a firm that uses a process to acquire clients, and it is much more successful at getting bigger sales because the client sees other purposes to the life insurance purchase (along with other products).

    So you have a wasted resource that can be used to generate more premium, and increase your ROI. Also, we have been successful at getting 4-5 solid introductions to friends and family, which would also mean more premium from the old stale leads.

    I like to see it as "excess profitability", similar to the excess insurability term we constantly use with high net worth clientele. They don't know it's there, but it's an asset that remains untouched.

    If you drip market, the profits are only limited to what you actually spent on the leads, there is 0 upside potential for expansion.
     
  9. Paradigm
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    More info please....
     
    Paradigm, Sep 14, 2008
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  10. iProtectMom
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    My idea lies behind always working together as an industry, you guys have your ways of generating clients and new sales.

    Sometimes you have leads that NEVER convert because they are not interested in your PRODUCT, but because I use a PROCESS to find out exactly what they need in other areas of their financial puzzle, we can close the sales that would otherwise never happen.

    This simple idea has hit me hard today, and I have already gotten in contact with several of the big insurance agencies online to put this into motion. Hopefully I can present this to Brea at Insurance.com!

    So does this make sense? Or am I going insane...:jiggy:
     
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