Leads Buying Warnings

[Crabcake Johnny]

If you go through the forum almost every lead provider, every lead method and every lead style has been slammed time and time again. If they are all so bad, why do agents keep buying them?

I've been trying to collect information from agents regarding leads - trying to find patterns, trying to see if one lead vendor really is better than another, etc...

I guessed there would be something interesting to publish. There isn't.

It's hard to say "XYZ vendor" has "bad leads" when I'm on the phone with agents who are working those leads successfully and doing quite well.

To try and compile my surveys - about 82% of all agents who are actively writing business work internet leads. Other methods such as telemarketing, BtoB, post cards, etc...are taught but they are seldom used methods.

Where it really gets complex is when one solid agent working "XYZ leads" does great and another successful agent tells me "XYZ leads? Horrible. I use ABC leads and they're just fine."

But go back to the other agent and hear this; "Oh, ABC leads? Tried them - all bogus, simply horrible which is why I stick with XYZ."

Two agents, both successfully working leads have the opposite experience with the same vendor along the same line of insurance.

 

[Norwayguy]

Where it really gets complex is when one solid agents working "XYZ leads" does great and another successful agent tells me "XYZ leads? Horrible. I use ABC leads and they're just fine."

But go back to the other agent and hear this; "Oh, ABC leads? Tried them - all bogus, simply horrible which is why I stick with XYZ."

Two agents, both successfully working leads have the opposite experience with the same vendor along the same line of insurance.

It would depend on what areas certain affiliates where loading up leads on....I think we all know there is an issue with how some of these "valid" leads are generated...I was playing poker on my smartphone and I needed more chips one of my options was to request a car insurance quote for 48K in chips...Anyone think I was interested in a quote.

Now when we go to buy these leads we are told that a consumer searched for a certain phrase and was looking for insurance.

Thats and issue and we all know there are leads that have been recycled and are totally bogus.

 

[rousemark]

I've been trying to collect information from agents regarding leads - trying to find patterns, trying to see if one lead vendor really is better than another, etc...

I guessed there would be something interesting to publish. There isn't.

It's hard to say "XYZ vendor" has "bad leads" when I'm on the phone with agents who are working those leads successfully and doing quite well.

To try and compile my surveys - about 82% of all agents who are actively writing business work internet leads. Other methods such as telemarketing, BtoB, post cards, etc...are taught but they are seldom used methods.

Where it really gets complex is when one solid agent working "XYZ leads" does great and another successful agent tells me "XYZ leads? Horrible. I use ABC leads and they're just fine."

But go back to the other agent and hear this; "Oh, ABC leads? Tried them - all bogus, simply horrible which is why I stick with XYZ."

Two agents, both successfully working leads have the opposite experience with the same vendor along the same line of insurance.

Well, I will share my last experience ordering leads. Ordered them from Hometown Quotes and they were absolutely horrible. Got about a dozen.. Called a couple but didn't set an appointment. Didn't bother to call the rest.. Figured if the leads were any good, the prospect would seek me out and give me a call. Not a single one ever called me! It's all Bob's fault.. He should be providing a better quality lead and not expect me to have to call the prospect.

(have actually known agents that seem to think like this .. They keep spending money on leads but don't call half of them and then complain how bad the leads are))

 

[Crabcake Johnny]

Most of the agents I speak with who are working internet leads and doing well buy in incredibly high volume. One spends over 1,000 a week and doesn't even do the ROI math until a month or two later. I don't know anyone who buys less than $500 a week and reports good results.

I see comments on this forums all the time; "I bought 15" or "I bought 25" etc....

...but the agents who are working leads successfully readily admit that the quality comes in batches and is by no means consistent.

If you want to look at someone still working internet leads successfully, even post reform, you'll have to look at agents like Jesse McDonald - who doesn't even bother figuring out his cost/profit/loss, etc...on leads. Sounds odds but, and I quote; "Who has the time for that." He doesn't care about 10, 30, 50 or 100 leads. He cares about the results for 1,000 leads.

 

[elitemind]

Most of the agents I speak with who are working internet leads and doing well buy in incredibly high volume. One spends over 1,000 a week and doesn't even do the ROI math until a month or two later. I don't know anyone who buys less than $500 a week and reports good results.

I see comments on this forums all the time; "I bought 15" or "I bought 25" etc....

...but the agents who are working leads successfully readily admit that the quality comes in batches and is by no means consistent.

If you want to look at someone still working internet leads successfully, even post reform, you'll have to look at agents like Jesse McDonald - who doesn't even bother figuring out his cost/profit/loss, etc...on leads. Sounds odds but, and I quote; "Who has the time for that." He doesn't care about 10, 30, 50 or 100 leads. He cares about the results for 1,000 leads.

You are right buying in small volume used to work, but now when I get a sales call from a lead vendor they want me to spend $1000 before I make one sale. What does that tell you?

 

[Todd King]

Well, I will share my last experience ordering leads. Ordered them from Hometown Quotes and they were absolutely horrible. Got about a dozen.. Called a couple but didn't set an appointment. Didn't bother to call the rest.. Figured if the leads were any good, the prospect would seek me out and give me a call. Not a single one ever called me! It's all Bob's fault.. He should be providing a better quality lead and not expect me to have to call the prospect.

(have actually known agents that seem to think like this .. They keep spending money on leads but don't call half of them and then complain how bad the leads are))

I had an agent do a mail drop for FE. He got back 22 leads. He called and told me the leads were no good. After prying a little, I found out he had attempted to call 4, got hold of 2 that told him no. From that, he figured the rest weren't any good either!

I told him I thought he might just be in the wrong business!

 

[rapidrobert]

DM leads are much different than internet leads- apples and oranges. Internet leads are OFTEN sold from one vendor to another- I've had the EXACT same lead pop up in my lead accounts within minutes of one another.

Nice to see you all defend the internet lead companies. I've seen EVERYONE of you slam certain ones of them on here over the years.

Why do agents continue to use internet leads if they suck? Easy Answer: They're too lazy to prospect.

 

[rousemark]

DM leads are much different than internet leads- apples and oranges. Internet leads are OFTEN sold from one vendor to another- I've had the EXACT same lead pop up in my lead accounts within minutes of one another.

Nice to see you all defend the internet lead companies. I've seen EVERYONE of you slam certain ones of them on here over the years.

Why do agents continue to use internet leads if they suck? Easy Answer: They're too lazy to prospect.

There you go being logical! Just hate it when folks do that.

 

[ims01]

As an IMO we have a vested interest in our agents getting quality leads. We act as a clearing house of sorts. The orders come through us and then we go to various vendors and even produce telemarketed leads internally to supplement. This allows us to monitor results over a wide range of vendors and agents.
It seems at times all the vendors have leads and at others none are getting leads. There is definitely a cycle.When leads are tight, we catch vendors sending us crap just to fill orders. When at other times the leads from them are great.
The rule of large numbers applies to leads.The problem is many agents dont have the money. Yesterday I had an agent call and wanted to buy two leads to "test them out". The same day another panicked seven days after ordering ten leads and demanded her money back. If a company delivers telemarketed leads a couple days after you order, they are coming off the shelve instead of generated to fill your order.

 

[Crabcake Johnny]

One thing you do NOT want to do...ever, is put a quote in for yourself on the vendor's main site to see what happens. Again, never do this.