- Staff
- #11
Vimo---are You Kidding Me???
- Thread starter MOHEALTH
- Start date
- 10,276
Overall, VIMO is good...but they MUST increase the number of filters on their regular leads. Right now, only four questions are asked. That must be increased to eight.
- 3,863
The "live" call model is tough.
It is extremely expensive to generate inbound calls.
My own inbound calls cost in excess of $60 last I tried to put a dollar amount on it. Car dealers spend $300 to $600 to get someone to walk on their lot. Marketing is not cheap in any industry, particularly one that is small ticket and cash flow negative like Health Insurance.
I do agree Vimo should consider a small return provision, if that is what the agent community is demanding (maybe 10 to 15% or certain specific criteria).
Keep in mind if Vimo accepted returns on medical, income, demographics, and other reasons these leads would cost $150 or more and no one would buy them. There is a balance.
I don't think Vimo is intentionally trying to screw anyone, they have a brand to protect - however the margins are likely very slim on exclusive phone leads due to the extreme cost in generating people to call in.
This is really just a matter of Vimo tweaking out their business model, trying different things and seeing what works. If their current model doesn't work then obviously you can cancel your account and re visit in the future.
It is extremely expensive to generate inbound calls.
My own inbound calls cost in excess of $60 last I tried to put a dollar amount on it. Car dealers spend $300 to $600 to get someone to walk on their lot. Marketing is not cheap in any industry, particularly one that is small ticket and cash flow negative like Health Insurance.
I do agree Vimo should consider a small return provision, if that is what the agent community is demanding (maybe 10 to 15% or certain specific criteria).
Keep in mind if Vimo accepted returns on medical, income, demographics, and other reasons these leads would cost $150 or more and no one would buy them. There is a balance.
I don't think Vimo is intentionally trying to screw anyone, they have a brand to protect - however the margins are likely very slim on exclusive phone leads due to the extreme cost in generating people to call in.
This is really just a matter of Vimo tweaking out their business model, trying different things and seeing what works. If their current model doesn't work then obviously you can cancel your account and re visit in the future.
- 14,809
well I said it before and I'll say it again - this is basically farming out your own marketing. If you got some kind of deal on a billboard - say $5,000 for 6 months and started getting calls you certainly don't get a discount every time a bad call comes in.
That being said, how you market is the key. Is that billboard in a decent area or is it in the city slums? Does the billboard tout "free no-obligation quotes" or does it tout "family health insurance for $39.95 a month?"
It's not good enough for a company to say "well we generate leads by mailers." Are they mailing to section 8 apartments or $300,000+ homes?
With Vimo live transfers they're fronting the ad money, we can get the calls. I guess what some agents are saying is there needs to be more transparency regarding the wording of the ads and where the ads are placed.
That being said, how you market is the key. Is that billboard in a decent area or is it in the city slums? Does the billboard tout "free no-obligation quotes" or does it tout "family health insurance for $39.95 a month?"
It's not good enough for a company to say "well we generate leads by mailers." Are they mailing to section 8 apartments or $300,000+ homes?
With Vimo live transfers they're fronting the ad money, we can get the calls. I guess what some agents are saying is there needs to be more transparency regarding the wording of the ads and where the ads are placed.
- 3,863
Agents forget the "fronting the money" part , that is a solid point.
I don't personally agree with Radio ads, as I know the type of caller that responds, however doing "internet only" yields very low volume.
Again it comes down to lower your bids or cancel if it is not working out. I have made a lot of account adjustments myself. Don't think for a second Vimo is not trying to find the right balance and have a top notch service, of course they are.
I have also found Vimo to be very responsive and I would not group them in the same category as other lead companies. We have a board member telling them to "F OFF SCUM SUCKER" and they respond very professional and offer assistance - what more do you want?
Agents seem to take it too personal when they get a bad lead - Welcome to my world, it is the cost of doing business and needs to be factored into your averages and numbers. Either it works or it doesn't - it is really that simple.
- 14,809
Well I do some local advertising and here's a lead I just got not a few minutes ago. Remind me to call my advertisers and ask for a credit on this. And this lead is typical of what I get since take at what kind of people respond to ads for health insurance.
Last edited:
John -
I don't understand???? Out here in Silicon Valley, a $300,000 home IS section 8.
Dan
- 9,744
Well I do some local advertising and here's a lead I just got not a few minutes ago. Remind me to call my advertisers and ask for a credit on this. And this lead is typical of what I get since take at what kind of people respond to ads for health insurance.
Well, she's a little "thick" as my son would say, but don't you have anything for $85 a munt?
- 14,809
Yeah, I love having to google medications when I get these leads:
tizac: spelled "tiazac" can't spell her own med - high blood pressure
divon: she's trying to say "diovan" - high blood pressure
nexium: the little purple pill - acid reflux
Priceless - 57 years old, overweight, three meds and bitch'n about $112 a month. This is why you'll never advertise your way out of this job - this is why the major carriers aren't running ads prime time.
I took part in an Assurant pilot program in 2005 - TV ads in MD and I got the leads for free. I had to fill out a very detailed Excel sheet noting the progress of every lead.
Man, I though they were gonna can me. The leads came pouring in and I was closing about 1 out of 50. Turns out I had among the best closing ratios - they pulled the plug on the ads and that was that.
The best leads are people who have current coverage and everything is just fine except they're like to lower their rate. You must find them - they will not find you.
tizac: spelled "tiazac" can't spell her own med - high blood pressure
divon: she's trying to say "diovan" - high blood pressure
nexium: the little purple pill - acid reflux
Priceless - 57 years old, overweight, three meds and bitch'n about $112 a month. This is why you'll never advertise your way out of this job - this is why the major carriers aren't running ads prime time.
I took part in an Assurant pilot program in 2005 - TV ads in MD and I got the leads for free. I had to fill out a very detailed Excel sheet noting the progress of every lead.
Man, I though they were gonna can me. The leads came pouring in and I was closing about 1 out of 50. Turns out I had among the best closing ratios - they pulled the plug on the ads and that was that.
The best leads are people who have current coverage and everything is just fine except they're like to lower their rate. You must find them - they will not find you.
