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I always measured mine by the amount of money spent on leads versus the amount of money I made on those leads. Seems to me that should be the only measurement for ROI. My investment in dollars versus the amount of money I made on those dollars. In the end, that's all that really matters, right?
Well that's really a little short sighted. Shouldn't you want to know your closing ratios for those lead vendors? Shouldn't you want to know which company you make the most money on and then focus on selling more of those leads?
Take the way my 4 year old learns: He asks "Why does that do that" instead of your approach of "Well this is all that matters to me"
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These numbers are probable, if you only count leads you contacted. The problem is if you factor the math correctly out of the gross lead volume, you end up with like 20% of 20% before you credit leads. It may just be a simple difference in how he's doing his math. I close around 25% of my CONTACTED leads, I could say I close 25%. If I start throwing in the stats from the bad leads, impossible to contact leads, ect though, you end up with a 10% or less sale rate. Hell if I REALLY wanna make the numbers look stupid, I could divide the number of policies I sold by the number of leads I contacted, last month I had 33 policies sold on 28 contacted leads, that a 118% close rate!
The real number last month was 77 total leads, 11 leads sold. A lot of medicare in there. That's 14%, which I figure is damn near astronomical. This month down significantly. 4 sold, 114 total leads, 79 total good leads, with 31 pending quotes. I increased my lead volume, a lot, because I was sitting bored last month a lot.
This is probably just a difference in stats. Its barely possible to contact 20% of the leads without a 6 stage autoresponder and 3 phone calls over 10 days. My connect ratio is still sitting at 70% but I'm really really really on top of it.
A new person starting out, feel good if you connect with 20% and sell 20% of those. Make sure to track and report your bad leads, so the ROI doesn't bend you over and violate you. On medicare only you can close almost 40% of the ones you connect with as long as you have a good med supp provider, and even get a lot of multi policy sales.
My real numbers over the last 3 week period are this: 73 leads, 15 sales. You do the math and thats over 20%. I haven't actually caught up my tracking to include last week or the current week but I only bought a few leads and sold a couple with some other projects I had to work on. And wrote another 3 today.
SO IF YOU REALLY WANNA MAKE ME LOOK STUPID:
You shouldn't put something out there that you don't know that answer to already, but that's a little more advanced sales techniques that not all of us possess.
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