I don't get credited for a lead until I submit it for credit and it is approved. But given that they sell the leads to let's say 5 other people, shouldn't we all get credited once one person gets credited? I mean, its either a bogus lead or its not. And since this is obviously not the way its done, doesn't this mean that the lead companies are effectively knowingly selling a fraudulent product? And isn't that illegal?
Basic Question About Lead Credit Policy
- Thread starter nycagent
- Start date
- 2,024
They're knowingly not refunding everyone even when the lead is confirmed to be invalid. I asked a rep point blank about that with one of the carriers.. I think it was netquote insuranceagents or insuranceleads, but I'm not 100% sure which one. Their system, if a lead had already been confirmed as bad, if you tried to turn it in for credit it no longer asked for the reason or had a waiting period when it was turned in. I asked them why they didn't automatically refund all the people it was sold to, and they had no answer for it. The rep was basically like, "we'd like to do that but that isn't how the system is set up" .
They could. They just don't.
They could. They just don't.
Montana2
Expert
And until they do , they are not acting in good faith and it could very well lead to a lawsuit.
There have been times where, for different reasons, I have not followed up on every lead I received; so there must have been creditable leads that I did not get credit for.
Interesting though, I followed up dillegently on every lead last month and only had a few bad ones - in fact it has been almost a month since I had a bad one.
But I can remember getting several bad ones in a row a few months back.
Would I would like to know is how profitable these lead companies are. They seem to have a lot of overhead yet they generate a lot of revenue off just one "lead," which is just a name and contact information.
Can they not afford to credit everyone when one agent reports it as bad and still charge the same price; or would they have to raise prices if they did?
- 260
Check out one of the stories on allwebleads.com They are making millions from 2005-current off us..
8 workers + 1 year = $40M in revenue for All Web Leads - Austin Business Journal
whatyouwantfinally
Guru
- 553
You're definitely asking the right questions.
In terms of how profitable the companies are; very successful in their industry is about 30% when figuring in only the cost of acquiring the leads. It varies greatly on a lead-to-leaad basis, but that's a decent overall figure to reference.
Could they afford to automatically refund every agent on refunded leads? Probably, but it would be a nightmare, as it would be the end of refunding under any circumstances for anything other than bad contact info. Person said they weren't insured with your company already but they really are? Too bad; we're not refunding the other 3 guys who didn't have that problem. You've called a million times and only gotten generic voicemail? Too bad; maybe someone else reached them. And so on...like I always say, the lead companies are more focused on P&C agents than health, and a lot more ticky tack refunding goes on with that.
Montana2
Expert
That makes sense that they would tighten the requirements for crediting a bad lead which would be worse. I figure it is my responsibility to contact the lead and find out if it is bad anyway.
I am sure most agents contact the leads, otherwise why would we buy them. But if you are on vacation for a few days, or have personal matters to deal with, sometimes calling or emailing a "lead" is the last thing on your mind.
Last edited:
