You Ever Think About how Much Money You Waste on Leads?

Discussion in 'Final Expense Forum' started by billyb, Aug 3, 2017.

  1. billyb
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    billyb Well-Known Member

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    I buy 15 leads a week and only sell 3 to 5 of them so I spend around $300 a week on junk. Worked in north Walton county FL this week and have never seen so many gated drives with private property, posted and no trespassing signs. Not gated communities, but shacks. Had to call to be let in and none agreed. Very few doors I knocked on let me in. None could give me a why other than they misunderstood. Card plainly states life insurance. I only want leads that want to buy. Reckon Doug will sell me those? 3 sales out of 15 is OK, but weeding out those deadbeats is hard work.
     
  2. HoosierLife
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    HoosierLife Well-Known Member

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    Buy twice as many leads and work half as hard.
     
  3. jdeasy
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    jdeasy Well-Known Member

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    Never thought of it as waste. Just a cost of doing business. 20% close rate is about average for good agents.

    What if you were closing 40%? Would you still worry about the 9 you didn't?

    I prefer to concentrate on the sales. Not the non sales. Doesn't bother me at all to drop a lead in the trash. It's just one out of my way.
     
  4. Baseball7
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    Baseball7 Well-Known Member

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    I only want leads that want to buy.


    If that was the case, and it was that easy we wouldn't make what we do at this.
     
  5. VolAgent
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    VolAgent Well-Known Member

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    I'm with JD. The only lead money I have wasted was when I didn't work the lead or it was from a vendor that was generating pure junk. Otherwise, non buyers are just the price of admission.

    As so often has been said, if this was easy, the carriers or IMOs would just hire a bunch of $10-15/hr employees to do it.
     
  6. springbokhouston
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    springbokhouston Well-Known Member

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    You hit the nail on the head JD. Most agents get hung up on what they paid for individual leads rather than just looking at is as a cost of business. There isn't another (legal) industry that I know of where you can spend $300 to make $2000 in sales.

    The truth is if you are making 3 times your lead cost you are doing great and still have plenty of room to pay your other business expenses. HoosierLife is right, buy enough to fill your schedule and the rest will sort itself out if you know how to hustle.
     
  7. NSRH
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    NSRH Well-Known Member

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    The best baseball players in the history of the world only got on first base 30% of the time. Do you think they focused on the 30% of success or the 70% of failure?
     
  8. KRobby
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    KRobby Well-Known Member

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    Sounds like you're doing really well billybob. Except for whats going on in your head. (although I know you're mostly joking)

    Here's a plan to correct that. Do an exercise where you cold call to get your 15-20 leads per week, and then work those leads. Like in many other industries. It won't take long until you change your tune. The nice thing about fe is you can simply cut those 20 hours of prospecting for leads every week out of the equation by simply slipping your favorite lead company $450~ :biggrin:
     
  9. billyb
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    billyb Well-Known Member

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    I was joking about the leads, but not about the gated houses. I door knock because I have found that if I call first I wasn't getting appointments. When I get a lead that requires me calling them , like the gate, I have sold very few. Also a lot of my leads are less than the age of 60 so that is a harder sale too.
    I have thought about adding a filter, but then I am not sure I would get 15 leads a week.
     
  10. Birdman300
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    Birdman300 Well-Known Member

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    I've heard many agents on this forum who work FL who get a LOT more leads than 15/week. Anything less than 25/week is probably not enough.

    I've also learned the hard way to NEVER rely on only one lead source, especially an IMO. Not saying you shouldn't buy from them at all. Just have 2-3 different sources and keep 'em flowing with FRESH leads EVERY week (and I mean FRESH...not aged). If one source gets screwed up (for some strange reason), then you'll have another reliable supply of fresh leads that week and you won't skip a beat.

    Several years ago on this forum, I read a post from Travis Tubbs about getting FRESH DM leads every single week. I've worked all kinds of leads over the years and in my experience, his post has been 100% correct.
     
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