subject: How You Can Benefit From Multiple Lead Strategies [print this page] How You Can Benefit From Multiple Lead Strategies
When starting out, it can be difficult to filter through the vast amounts of information out there and find the best way to generate health insurance leads, maintain a constant flow of new quality leads, and figure out which types of leads will turn out the best results.
As a health agent, you want to use your marketing dollars in the most efficient and effective way possible, and so a four-step strategy to leads generation will help you build a dependable, long-term flow of potential customers.
1. Cold calling is the least expensive way of generating new leads, but is also the most labor intensive. To target your cold-call audience focus first on small businesses in your area, such as real estate agencies, contractors, and hair salons, who are responsible for providing their employees with health insurance coverage. This can be an excellent start to a long-term sales relationship, and also a great place to generate referrals to other businesses in the area.
Targeted telemarketing lists are also usually a very affordable option, and pre-filtered against do-not-call lists. The advantage of working with lists like this is that you can narrow your demographic parameters to include age ranges, zip codes, income. However, you must keep in mind that there is no guarantee the people on these lists will be interested or willing to take your call.
2. Personally generated leads are often very reliable, but also take a lot of time and effort. Through advertising, direct mail campaigns, and networking within your area and dropping off cards, you will be connected with prospects who are interested in what you are selling, and ready to meet.
3. Referrals are very important to growing your business and are a reliable, free source of new prospects. Because the prospect has been referred by someone they trust, often one of your existing clients, you will have a greater success rate. It is important to maintain relationships with existing clients through birthday cards, mailings, and dropping off business cards, to build your referral list.
4. Quote request leads are the priciest lead option, but often produce the best results because the leads are actively shopping for the service that you provide. Though many may just be comparison shopping, you will also often find clients with a heightened sense of urgency because of a change in employment or health has left them in immediate need for a new health insurance provider.
Under the banner of quote request leads there are several different options:
Exclusive leads mean that you are the only health insurance agent calling the client. This tends to be a very expensive lead, but also one with the highest success rate because you will have less competiton to make your sale.
Filtered leads work well because you can buy leads from within a specified sales demographic. Because they are so targeted, you will need less of them to make your sales, offsetting the higher price.
Shared leads are a mid-price option, but often highly competitive because you will be working against other insurance agents for the sale. Once you receive your leads you will have to work them very fast to make sure you beat the competition.
Dated leads are inexpensive and can be a good option if the prospect was never contacted, didn't purchase insurance the first time, or purchased a plan they were unhappy with.
Uninsurables are very cheap, but often seen as a lost cause by agents. However, although a discount plan doesn't mean much in terms of sales, this group of clients are in need of help and often have a heightened sense of urgency which will make for multiple sales.
