Internet Lead Statistics

[COInsguy]

[FONT='Verdana','sans-serif']Leads Purchased 388
Calls 1460
Sales 16 health/27 total lives
Sales 7 dental/7 lives
Life/[FONT='Verdana','sans-serif']LTC[/font]/MED SUPP 0[/font]
[FONT='Verdana','sans-serif']Applications pending (3health/6lives)[/font]
[FONT='Verdana','sans-serif']The 388 leads are net any returns. We return a good amount. Of the 378 “good” leads here’s some of the breakdown:[/font]
[FONT='Verdana','sans-serif']252 leads have been voicemailed/emailed/mailed but I have never spoken to anyone[/font]
20[FONT='Verdana','sans-serif'] leads I never have any phone contact with, meaning there is no answer, there is no voicemail, nothing. Email yes, but the phone is useless.[/font]
[FONT='Verdana','sans-serif']
15 leads hung up repeatedly or said, "don't ever call me again"

8 leads responded by email, I already have coverage, take me off email.

24 leads have no money for anything and plan on going to the ER or to county for health care or are completely uninsureable due to pre existing.

[/font]
[FONT='Verdana','sans-serif']Here are some other data I track which is somewhat important, I think[/font]
[FONT='Verdana','sans-serif']53 have viewed our online email proposal[/font]
[FONT='Verdana','sans-serif']34 ran a quote on our website[/font]
[FONT='Verdana','sans-serif']80 I have had contact with, meaning I spoke to the decision maker on the phone.[/font]

[FONT='Verdana','sans-serif']So, for my example, how someone is closing 1/8 or 1/10, (and some claim higher), which I am assuming is based on the 388 number, when they are only probably talking to around 100 people is beyond me. Talking to 100 people and generating around 50 sales, (sales not lives). I can’t do that, and I have never met anyone who can. AND, there isn't alot of talk about retention. How sticky are these sales?[/font]
- - - - - - - - - - - - - - - - - -
Leads Purchased 388
Calls 1460
Sales 16 health/27 total lives
Sales 7 dental/7 lives
Life/MED SUPP/LTC
Applications pending (3health/6lives)

The 388 leads are net any returns. We return a good amount. Of the 388 “good” leads here’s some of the breakdown:

252 leads have been voicemailed/emailed/mailed but I have never spoken to anyone

20 leads I never have any phone contact with, meaning there is no answer, there is no voicemail, nothing. Email yes, but the phone is useless.


15 leads hung up repeatedly or said, "don't ever call me again"

8 leads responded by email, I already have coverage, take me off email.

24 leads have no money for anything and plan on going to the ER or to county for health care or are completely uninsureable due to pre existing.


Here are some other data I track which is somewhat important, I think:

53 have viewed our online email proposal
34 ran a quote on our website
80 I have had contact with, meaning I spoke to the decision maker on the phone.

So, for my example, how someone is closing 1/8 or 1/10, (and some claim higher), which I am assuming is based on the 388 number, when they are only probably talking to around 100 people is beyond me. Talking to 100 people and generating around 50 sales, (sales not lives). I can’t do that, and I have never met anyone who can. AND, there isn't alot of talk about retention. How sticky are these sales?[/quote]

So what I hear is your complaining that of the 388 leads thus far 47 of them are now considered "Dead" to you. That is 12% of the "Good" Leads that were not returned. It appears you've closed about 4% and you still have the potential of sale on 65% of the leads (the 250ish) you have yet to speak with.

Your lead closing ratio could easily be increased, there is no reason to not sell 1/2 the people who give you the time of day some type of coverage. I'm not trying to bag on you in any way. Sounds like you are making a lot of dials and staying in front of people.

Do you have some other follow Up? Drip Emails
Do you have the right products.
Have you gotten real sales training?

I'm not on here to recruit you, I'm telling you your only limited to what you believe. There are agents who can close 50% of those they talk to. There are agents who can close 10%-15% or more of shared internet leads from the same company as you.

As usual there will be a lengthy list of people telling you and everyone else on here that no one can close like that. I just hung up with one of those leads that my agent told me no one could close (We just finished her app).

Leads DO generally have a need now or in the future for health insurance. But they also HATE to deal with it. Find a way to solve the problem that they need to do something they don't want to do and you'll make plenty of sales.

 

[arnguy]

Thank you, Billy Ray.

 

[bcbroker]

I have been using shared health insurance internet leads for about a month, using a mix of Norvax and InsureMe leads. Leads cost me around $8 a pop.

Some agents and lead company reps said that shared internet leads should be anywhere from 2-4%, and some have said 10%.

At a 10% close ratio, this is obviously profitable when using an average premium of $300 per month (usually 2 person family), new business commission of 20%, and 80% approval.

However at 2-4%, it's still technically profitable at $640 per 100 leads, although I don't want to put all that work into it just to pay the lead company. I'd like to eat too, from time to time!

Here's my dilemma. Nearly all of the leads I have been receiving have either been a single female lead looking for insurance or married but want a separate policy, or unemployed, so the premium average is only around $150 per month.

So, in my first month of selling using leads, I have purchased 119 leads, closed two (1.6%), and should be closing two before the end of next week, for a lead closing average of 3.3%. The average premium is $150, so I am making (after paying for leads) just $640.

I do have drip marketing in place, and I send an intro letter to the lead, offer a free virtual book called Health Insurance Basics that I created, and have a phone call regimen in place.

My first contact success rate (which includes the intial lead phone call and a second call later that day) is around 20%. When I am able to get a hold of the client, I am able to set up a desktop share to discuss the plans and I do ask for the business- nicely, of course.

My questions are:

• First or all, is that a normal close ratio for shared internet leads for three weeks worth of work?
• Does it normally take longer than three weeks to close a sale?
• Based on the numbers above, should I work on my close ratio, or volume?
• Is purchasing better quality leads (InsureMe offers leads with only three agent touches for $16, compared to $8 for up to nine agent leads) a better approach, or is quantity better since I am able to build up a database at least with interested people?

This is a fabulous forum. Keep up the great work. Thanks!

Nick, a lead guy that I know reported a 7% sold rate on some aged leads that USABG agents bought from Nick. the leads were shared leads less than 30 days old, there were 14 sales on 200 leads. they probably paid $2.00 or less for those leads. They are happy people, I am too because I use the same sources as Nick does. With close to the same results. No wonder we are the top producer for Blue Cross in OH. I do believe in leads, I do I do! lol. Seriously though, I hope this helps you! Good Luck! I can hear one of my agents doing an app over the phone right this minute, from a fresh lead. Those are the $3.00 to $4.00 leads.

 

[CHUMPS FROM OXFORD]

Just my opinion, but would this domain have any real value?

 

[YouGotMyMoney]

it could be used for a stalker/dating niche site?

 

[CHUMPS FROM OXFORD]

Actually...........Not a bad idea.

 

[patty jones]

Nice information dear , thank you for such a useful information . I like your post.

 

[CHUMPS FROM OXFORD]

sp...I can't say it. But you know what it is.It rhymes with ram.

 

[YouGotMyMoney]

chumps do u mean jam?

 

[CHUMPS FROM OXFORD]

Gee. Now I forgot. That might have been it.