Any Feedback On LeadWerx?

[chrisbeyersinut]

I am a relatively new agent and I don't have a big war chest to spend on marketing. For a number of reasons, I like the idea of internet leads. Finding good ones has been a different story. I used netquote previously and didn't have a good experience for all of the same reasons that I've read about in these forums. Unfortunately, I read the comments after the fact.

Another agent recommended LeadWerx to me and I've heard a bit of a buzz about these guys lately. However, I am so apprehensive that I don't want to spend another dime or invest anymore time unless I have a reasonable expectation that I will get a positive ROI. Not only on my money, but also my time.

They kind of bill themselves as the anti netquote, so I like that.
(I tried to post a link to their LeadWerx vs. netquote page on LeadWerx.net, but was rejected since I have less than 10 posts.)

Does anyone have any experience with these guys or feedback either way? Any insight before I commit some money would be greatly appreciated.

 

[FEX Quotes]

Take a look at Life Leads Direct where you can cherry pick your leads at a very reasonable cost.

 

[chrisbeyersinut]

Thanks for the insight and feedback. I looked at the life leads direct website but don't think it will work for me. At least for the way I sell, I've found leads have diminishing returns the older they are. Seems like life lead direct posts the leads on their website and then agents get to pick the lead. I can see the value in that, but i think i value the "real time" aspect more. I've tried aged leads & mailers, but internet leads seem to have had the best results for me......when i immediately followed up on a lead that had just come in. I've seen a difference in closing rates when i worked a (good) lead within a few minutes, vs. within the hour vs. same day. Now if that lead is a good lead or a bogus lead is another story.
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Someone asked me for the link I mentioned in my original post, so now that I have enough posts under my belt, I am going to put it here for anyone interested.

LeadWerx vs. netQuote | LeadWerx

If I don't get any feedback either way on LeadWerx, I may just bite the bullet and give them a try. If I do, I will post my results here so everyone can see. Perhaps if we all did this for any of the companies we use and there was some transparency regarding conversion rates, bad leads, etc. we would all be better off.

 

[insurancejane71]

It feels like I've tried every internet lead company out there. I've been using LeadWerx since April and have been pleasantly surprised. So far, so good with few complaints.

I get exclusive life, auto and homeowner leads from them. The life and auto leads come in pretty steady, but the homeowner leads are really inconsistent. Not sure why that is when I have the same target geography for all three.

The life leads have converted really well so far and I've been pretty happy in that department. In terms of bad leads, the contact information, names, addresses, phone numbers are rarely bad or disconnected. This was a bit of a surprise since I've seen really high rates of disconnected numbers elsewhere. I think I can count on two hands how many times I've come across a wrong (i.e. wrong name for number provided) number or disconnected number since April.

The most common type of "bad lead" I come across is someone saying they didn't request a quote, but those aren't very frequent and so far have been replaced with no hassle.

My only other complaint is that they currently don't provide text message notification (Although they say it is coming). It is email notification only, so I've been forced to cc the email address that goes to my iPhone as a text message substitute.

All in all, I've been pretty happy.

 

[chrisbeyersinut]

As a follow up to my earlier post, I am posting my results for the trial with LeadWerx. I'd love to have everyone post their results with any lead vendors they are using as well.

To date:

Life:
Rcvd 30 leads:
Bad Leads: 4
Couldn't contact: 8
Contacted: 18
Quotes: 11
Sales: 4

Auto
Rcvd 35 Auto leads:
Bad Leads: 4
Couldn't contact: 9
Contacted: 22
Quotes: 16
Sales: 7 (1 of the 7 was actually a cross sell from the homeowners lead that i sold a homeowner's policy too. So this should really be 6 auto policies from the leads)

Homeowners
Rcvd 29 leads:
Bad Leads: 2
Couldn't contact: 7
Contacted: 20
Quotes: 14
Sales: 6

 

[lhkorn99]

As a follow up to my earlier post, I am posting my results for the trial with LeadWerx. I'd love to have everyone post their results with any lead vendors they are using as well.

To date:

Life:
Rcvd 30 leads:
Bad Leads: 4
Couldn't contact: 8
Contacted: 18
Quotes: 11
Sales: 4

Auto
Rcvd 35 Auto leads:
Bad Leads: 4
Couldn't contact: 9
Contacted: 22
Quotes: 16
Sales: 7 (1 of the 7 was actually a cross sell from the homeowners lead that i sold a homeowner's policy too. So this should really be 6 auto policies from the leads)

Homeowners
Rcvd 29 leads:
Bad Leads: 2
Couldn't contact: 7
Contacted: 20
Quotes: 14
Sales: 6

Were you using their shared or exclusive life leads?

 

[j l]

I am going to have to try leadwerx.(insurancejane) i work for primerica.the old way of prospecting jus isnt working!

 

[Rich Eddy]

I am going to have to try leadwerx.(insurancejane) i work for primerica.the old way of prospecting jus isnt working!

Doesn't Primerica have a "recruit to sell" model? Have you done much of that?

 

[chrisbeyersinut]

Were you using their shared or exclusive life leads?

I was, and still am, using shared leads with LeadWerx. I feel like I got pretty good results with them so far. Although, I was really specific about the geographies I targeted. Based on my experience in the past with other lead vendors (and good old trial and error), I've found some areas that I feel are pretty good for my product mix and competitive advantage. So I don't mind shared leads, because I think I do pretty well there.

If I were to target a broader geography, I would use exclusive leads for sure. My philosophy is, if I don't feel like I have a strong competitive advantage, I want to reduce the competition!

One other thought. I milk every last bit out of each lead. I am always respectful and professional, but I pretty much don't give up on a lead unless someone tells me to leave them alone. I find it is tougher and tougher to reach people during the day and am now having better luck catching people on off hours. For leads I can't reach initially, I focus on calling them at night and on the weekends. Sunday evenings are by far the best for me.

 

[jagnet7]

I am a relatively new agent and I don't have a big war chest to spend on marketing. For a number of reasons, I like the idea of internet leads. Finding good ones has been a different story. I used netquote previously and didn't have a good experience for all of the same reasons that I've read about in these forums. Unfortunately, I read the comments after the fact.

Another agent recommended LeadWerx to me and I've heard a bit of a buzz about these guys lately. However, I am so apprehensive that I don't want to spend another dime or invest anymore time unless I have a reasonable expectation that I will get a positive ROI. Not only on my money, but also my time.

They kind of bill themselves as the anti netquote, so I like that.
(I tried to post a link to their LeadWerx vs. netquote page on LeadWerx.net, but was rejected since I have less than 10 posts.)

Does anyone have any experience with these guys or feedback either way? Any insight before I commit some money would be greatly appreciated.

Hi, I think you are wise for asking this question before investing any $. My experience with Leadwerx has not been good, just to put it mildly. I was told by them on a call soliciting me that if I signed up with them by me putting $100 into my account with them, I would be given another $100 by them making my account total $200 which sounded good to me. I was also told a lot of other good things about their leads--that they are scrubbed for the do-not-call list and other things that sounded really good, i.e. that I would be receiving warm leads of people who were already looking for coverage. I signed up with them. Of course, each time, they send me a lead, $ is taken out of my account. Over a period of several days, I was sent 7 leads. Of these seven leads, after days of calling, e-mailing, and leaving voice mail messages in an effort to get a hold of these people, I finally got a hold of 2 of them. These 2 "leads" asked me where I got their names and said they did not understand why I would have gotten their names because they had not been looking for any coverage. There were 2 totally separate, unrelated individuals who would not have gotten their stories together. When I told Leadwerx this and requested my $ back and wanted my account with them closed, I was told that they could not refund my $, which means 100 bucks (that I did not have and put onto a credit card) right down the drain. I would not recommend this company to a mangy dog. Those of us whom they have been ripped off by them should get a class-action law suite going against them and at least get our money back. In addition to all the $ that I lost with them, there was a l-o-t of time that I wasted trying to get them to refund my $, which was only right. Time = $ for me because I am paid on commission only. I would never dream of treating one of my clients or prospective clients like this. I hope the word gets out and they get what they deserve by being out there lying and ripping people off. And, yes, I can back up every word that I say here.