Shame On You Netquote...

Oct 17, 2007

  1. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    MYPOINTS.COM is a website where people join and fill out surveys, questionnaires etc... and build up "points" that can eventually be redeemed for small gift cards from various vendors.

    Obviously, not the type of prospect we want anything to do with.

    I just found out that NetQuote is a frequent advertiser on the site.

    And I thought they were cleaning up their act.
     
  2. SC Local LAH Agent
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    SC Local LAH Agent Expert

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    I was wondering why recently when I call NetQuote leads I get replies like "I just wanted a free I-pod!" LOL Time to try and get some credit for those leads!!!
     
  3. TXINSURANCE
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    TXINSURANCE Guru

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    I have been buying a high volume of leads from them and the close rate is one of the lowest in the business, about 1 out of 50 to 1 out of 100, they give very little returns and their affiliate program is out of control and not monitored.

    I don't see how anyone can turn a profit with them.
     
  4. LGilmore
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    LGilmore Guru

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    I let them go and sure don't miss em. Yet, they will be around because they pitch well and there will always be agents who need leads..
     
    LGilmore, Oct 17, 2007
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  5. senior-advisor-indiana
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    I am cutting them off after my free ones. Thats all they are worth.
     
  6. djs
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    djs Super Moderator Moderator

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    But your obligated for 3 months (though I think you knew that). Of course, you can go to something that will likely never produce a lead for that time :) Single zip code, massive, contradicting filters, etc.

    Dan
     
    djs, Oct 17, 2007
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  7. senior-advisor-indiana
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  8. Alston
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    I work as an agent, as a leadgen affiliate, and as a direct seller of leads. I see this from several perspectives.

    There is something wrong when a company like NetQuote can out bid local agents on the pay-per-click search engine results. This means that some lead generation companies make more money, per insurance policy sold, than the agents do.

    Let's say, for the sake of example, that a leadgen company sells the same lead 5 times but makes profit if it only sells it 2 times. Unless 4 out of 5 agents are vigilant and take the time to request refunds for bad leads, there is no incentive generate better leads.

    And the above doesn't even take into consideration the bad leads that cannot be verified as bad.

    Unfortunately, the demand is so great for leads, the lead sellers can get away with murder.

    Demand is like a force of nature, it is like water seeking its level. If a leadgen company cleans up its act, its volume drops. Then someone else will come in and fill the void with their watered down leads.

    My advice is to stay away from long-term contracts with leadgen companies, to return all the bad leads, and continue to use old-school methods to generate leads.

    Don't get sucked in by the idea that you can make a good living by working Internet leads and spending no other money on marketing. Use all of the tools in your tool belt, including the phone, the mail, email and face-to-face meetings. Email auto responders work but have limited value since most people have email spam filters. You will get a great ROI because you will avoid paying for postage, but you may not get the volume you need to make a living. Don't be afraid to spend a little money on postage, just be more selective than you would be with email.

    Use the mail to supplement the phone contacts you make to the leads you buy. Try to make the second and third sale to every client. Ask for referrals by phone, mail and in person. Send mailing pieces to your clients on a regular basis. If you do these things, you will need to buy fewer leads. If enough agents do these things, the leadgen companies may have some incentive to produce leads worth buying.
     
    Alston, Oct 18, 2007
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  9. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    One of the best investments I ever made was buying slide-rule NFL football schedules every year from an outfit called "Positive Promotions."

    I get around 1000 per year for about $300-$350. It usually generates about 5-10 sales per football season.


    By the way...re NetQuote...I must sheepishly admit that I actually referred an associate to them (we split the $100 credit). He will be buying life leads only from a 20-mile radius from our office. Based on my experience, he will make money. A 100-mile radius would not have worked as well.
     
  10. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Sometimes I like NetQuote. Sometimes I don't.

    Google "Dental Insurance" and Netquote will usually appear in the top three (sponsored link). Click on the link and you now have health insurance agents buying a lead for somebody who wants dental coverage.

    You have to watch these guys like a hawk.
     
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