Conversion Rate for Internet Leads

[gambrinus]

50% of the internet leads that I closed were people that I had moved to the "dead" folder... over 30 days old and had been called / emailed over a dozen times. Part of that may be from the number of agents buying leads in my area. Anyone requesting info is going to be attacked by over a dozen agents. Some folks figure this out about 3hrs into the process and just don't answer the phone from any number they don't know. 99% of agents stop calling after 10 -20-30 days..

 

[Tampa Bay Rep]

50% of the internet leads that I closed were people that I had moved to the "dead" folder... over 30 days old and had been called / emailed over a dozen times. Part of that may be from the number of agents buying leads in my area. Anyone requesting info is going to be attacked by over a dozen agents. Some folks figure this out about 3hrs into the process and just don't answer the phone from any number they don't know. 99% of agents stop calling after 10 -20-30 days..

Great points gambrinus. Since agents can get aged leads that are as little as 3 days old, many think these fresher leads would be better but agents have told me they ended up getting more sales from the leads that were over 30 days old because now the people were answering their phones again because they were not being bombarded by calls from tons of agents anymore.

As you pointed out with the success you are having in calling your older leads, there's a lot of money to still be made in those leads but most agents don't bother calling leads over 30 days old, missing out on good money they could be making from those leads.

 

[YouGotMyMoney]

The only thing that matters (other than ROI) is how much does it cost to speak with someone who wants to talk to you about health insurance.

 

[webprez]

Buying insurance leads from an agent lead generator can be a very effective way to develop your business – especially if you have not yet become proficient at getting referrals. But I think there are three critical factors you need to know about the leads you purchase from any lead generator:


First, how are the leads generated? In other words, "what" have these people asked for or "what" are they expecting? You need to know what the lead generator offered to generate the lead's interest or response, because most leads are produced based on a simple request to receive information, and NOT on any readiness to buy – which means that your leads are not waiting around for you to call them and sell them something.


Second, how many other agents are getting the same leads you get? Generally, the lower the cost of each lead, the more competition you have for the sale, because the lead generator spreads the cost of producing that lead over several agents in order to keep the price down – which means that you need to quickly distinguish yourself from your competition.

And third, how quickly will you receive these leads from the time the lead submits their request for information? According to a study done by the Kellogg School of Management at Northwestern University, lead "conversion" (into a sale) diminishes exponentially with every hour between the time someone expresses interest (lead generation) and the time you personally contact them (lead fulfillment) . . . from as high as 90% if contacted within the first hour, to a low of only 5% if contacted the next day – which makes lead "turnaround" and immediate "follow up" your highest priority.