After speaking with thousands of agents, we’ve compiled a list of the top 7 proven tactics for higher lead conversion, with implementation strategies. Topics covered include understanding your CPA metric, the use of speed, and strategy to raise your ROI by working smarter, not harder.
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
7 Proven Tactics for Higher Lead Conversion
1. 7 Proven Tactics for Higher
Lead Conversion
How to Grow Your Agency One Lead at a Time
2. Why Internet Leads?
•
Consumers increasingly using the
internet to research and purchase
from vendors
•
Proven ability to outperform
alternative marketing options
•
Consistent lead supply creates
steady business growth
•
Targeted, measureable
consumers
3. An Increasingly Online Market
•
Old School vs. The Future
•
Traditional
– Cold Calls
– List buys
– Mass media
•
Internet leads
– Inexpensive
– Pre-qualified
– Targeted/Filtered
– Real-time delivery
4. An Increasingly Online Market
•
Some agents have poor closing
rates using Internet leads.
•
Somewhere between acquiring
the leads and closing the contract,
something goes wrong.
•
Here’s how to fix it
5. 1. Speed Kills
•
Leads are 22 times more likely to
convert when you make contact
within 5 minutes of lead
generation
•
Nearly 78% of prospects convert
with the company that contacted
them first
6. 1. Speed Kills
Solution
1.
Prioritize. Make new leads a top
priority.
2.
Automate. Use an auto-responder
to immediately send a welcome
email to new leads that enter your
system.
3.
Control. Turn off your lead flow
when you’re not available.
7. 2. Give and Get Quality
•
Converting leads is 57% lead
quality and 43% sales quality.
•
A bad sales process results in lost
clients
•
Similarly a low-quality or invalid
lead wastes time and money.
8. 2. Get and Give Quality
Solution
1. Quality leads. Look for the highest
quality leads your budget can afford.
2. Sales training. Learn advanced
sales techniques
3. Drip marketing. Have a drip
marketing program to keep you
connected with your ―longer term‖
leads, while you guide them to a
successful closing.
9. 3. Persistence Pays
•
It takes an average of five (5)
attempts to contact a lead
•
40% of quality leads will close with
long-term follow up
•
Up to 70% of leads are long term
in nature
10. 3. Persistence Pays
Solution
1. Your first goal is first contact. The
average is five; but you should
continue trying at least a dozen
times.
2. A lead nurturing program. Guide
them to a buying decision — and
ensure that you’re nearby when
they’re ready to buy.
3. Schedule future “touches.” It
helps to build trust, while keeping
you connected with a genuine
prospect.
11. 4. Do Stray from the Pack
•
Consumers don’t necessarily shop
during the regular business
workday. Most consumers work 9
to 5 and often need to wait until
after hours or the weekend to
shop.
•
This disconnect is a great
opportunity for agents willing to
work flexible hours.
•
In fact, we’ve found that leads
generated on the weekends are
26% more likely to convert.
12. 4. Do Stray from the Pack
Solution
1. Flexible schedule. But try adding
weekday evening and weekend
hours into that schedule.
2.
Automated 1st response. This
initial email will prepare them for
your call and put your contact info
in their hands.
3.
Look for underserved niches.. A
good niche can be your ticket to
increased sales.
13. 5. Understand What Really Counts
•
If you’re focused on your cost per
lead instead of your cost per
application (CPA), you’re
making the biggest mistake in
lead management.
•
Your cost per application metric
gives you the whole picture.
16. 5. Understand What Really Counts
Solution:
1. Calculate ROIs and CPAs
regularly. Take the time to
regularly measure and analyze
your lead ROIs and CPAs.
2.
Identify your strongest niches.
Measure your ROIs and CPAs on
different types of leads and various
providers
3.
Adjust your lead budget. Tweak
your budget to put more money
toward leads that give you a lower
cost per application
17. 6. Never Stop Tracking & Testing
•
Increasing your conversion equals
FREE money!
•
By regularly calculating your ROIs,
CPAs and lead conversion rates,
you can make on-the-fly tweaks to
your lead budget.
•
Tracking lead performance can
also help you determine which
agents should get more leads.
18. 6. Never Stop Tracking & Testing
Solution:
1. Lead tracking. Use your insurance
lead management program or
develop your own method.
2. Set benchmarks. Determine what
your current closing ratios are on
the different types of leads you
work.
3. Eliminate your weak spots.
Expose those underperforming parts
of your marketing and sales
program and realistically improve
them.
19. 7. Avoid the Great Expectations Trap
•
Don’t expect great results, just
work at being a great salesperson.
•
There are reasonable and
achievable goals for Internet
leads, and they are based on
beating the ROI’s of other
marketing techniques.
•
Expecting to close every lead may
result in disappointment.
20. How It Works
QuoteWizard helps Agents lower their marketing costs while increasing their sales:
We spend millions driving in-market
consumers to our website.
Consumers complete our online
quote request.
We match the consumer’s needs to the
agent’s targeted lead type.
We provide lead details to you.
You provide a quote and close the
business. Everyone is happy.
21. Who We Are
•
QuoteWizard is the largest independent, privately-held insurance lead
provider in the United States
•
We are based in Seattle, WA and employ over 100 incredibly talented
people
•
One of the Fastest Growing Companies as recognized by Inc 500, Deloitte
Fast 500, and Puget Sound Business Journal
22. Why QuoteWizard
• Better Experience
–
Consultative staff you can always reach
• Better Value
–
Award-winning value & the best return policy
• Better Results
–
Leads sold a maximum of 4 times, half industry standard