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Lead Closing Ratio
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- 393
Over 20% depending on the vendor and how hard I'm focusing on leads that week...that's just me, now 10 people are going to tell you that is impossible!
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Closing ratio's are reflective of your ability more than anything else. Even a "poor" lead can be turned into money by a good producer.
That being said, closing ratio's are meaningless. ROI is all that matters.
Since I stopped buying internet leads my ROI is through the roof.
That being said, closing ratio's are meaningless. ROI is all that matters.
Since I stopped buying internet leads my ROI is through the roof.
- 608
Agree with somarco. The only way to compare different leads types and sources is by using ROI. You could have a high close ratio but a low avg. premium. If you buy Impaired Risk leads you may close 50% but place only 10%. You didnt specify if these were life insuraunce or health insurance leads.
- 868
If you are a good closer I would say 10% of "good" shared leads will be converted and 20% of "good" exclusive leads.
Your acquistion cost per sale should be approximately $70-$100 on health. Increase your ROI by adding on sales such as life etc to your health sale. If you ask 30%-50% will purchase an additional product. The key to anything is asking; referrals or cross sales. Most agents don't ask.
Your acquistion cost per sale should be approximately $70-$100 on health. Increase your ROI by adding on sales such as life etc to your health sale. If you ask 30%-50% will purchase an additional product. The key to anything is asking; referrals or cross sales. Most agents don't ask.
This is true. If you're willing to take a little more time with the client, an experienced agent can make some extra $$.
I had a client ask me while he was still in uw for a health policy, if he was going to have to do a paramed. I said what the hell are you talking about?
He said I just did one for my life policy. I was like what? I handle 50,000 life carriers.
He said man I didn't know that you did life insurance. I said of course not, I'm an *** and didn't tell you.
- 868
Easy example say an agent did 10,000 a week in health at say 20%= 2000.00
Same agent on 40% of clients sold critical illness and life selling 2500.00 a week could also make about 2000.00
So by asking instead of tracking 100k in written commissions you are now tracking 200k for very little additional work.
And the way you do it is the lost art of needs analysis and fact finders- In essence just ask what do you have to lose. Ask for cross sales and ask for referrals just ask. If you lose the sale by asking the sale wasnt solid anyways.
Same agent on 40% of clients sold critical illness and life selling 2500.00 a week could also make about 2000.00
So by asking instead of tracking 100k in written commissions you are now tracking 200k for very little additional work.
And the way you do it is the lost art of needs analysis and fact finders- In essence just ask what do you have to lose. Ask for cross sales and ask for referrals just ask. If you lose the sale by asking the sale wasnt solid anyways.
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What kind of leads are you closing 20% or more?
- 393
Well I'd love to tell you my fishing hole and all but the truth is all the lead vendors I use are above 20%....any vendor that's not selling total Junk and bogus leads should be able to get that return for a good salesperson who knows what to do when they get someone on the phone.....If I get through the first 20 seconds I'll close them 63% of the time...that's the key to my success
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