Final Expense Leads – Which Are the Best?
I talk with insurance agents in the Final Expense market and a very common question is “Where can I get quality final expense leads“? Well, first you must decide what type of lead you are seeking, as there are many different ways to develop leads. The first kind and most commonly used lead are called potential direct mail response clients. The second most used is telemarketing. The third is the Internet leads and, finally, the references.
Direct Mail Responder Leads
Direct mail responder leads have been commonly used in the final spending market for a long time and people who purchase the final expense market receive these mail cards on a daily basis. Each agent and his brother send these cards to this market and saturate it regularly. With an average direct mail response rate of approximately 1 1/2 percent, it is hard to get the best return on your money.
Telemarketing leads have been around for a long time too. However, due to the do not call list and the Telephone Consumer Protection Act (TCPA), it is harder and more expensive than ever to get these kinds of leads. Be careful with leads developed using automatic bookmarks with a pre-recorded message. Read the TCPA (47 USC Sec. 227), nowhere does it talk about the caller by pressing 1 to choose to make it legal. Then you have companies that use call centers located in India. A total waste of money. These leads can cost between $ 15 each and $ 35 each, however, they are very expensive.
Firstly, I have been working in the final expense market interminably and I can count on the one hand, the number of people I have met in this market who have access to the Internet, let alone have a computer. If these leads were frequent, they are sold to a handful of agents simultaneously. Not only should you call to see if the potential customer is interested in buying your product, but you should compete with the prospect to beat the other agents there. While these final expense leads may be inexpensive in advance, they turn out being the most expensive.
Referrals are the best kind of lead you can get ever. There is nothing better than someone referring you to her best friend or her sister. The references produce the most sales and the best thing is that they are free. Here’s the problem, how do you get someone to provide you a reference? Most people do not provide referrals because there is nothing for them. They will give you many excuses for not giving you a reference. The trick is to show them how it will benefit her to give you references. I’m not talking about bargaining! You should never do anything to endanger your credibility or your insurance license.
I do not care which leads are the best. The just thing that matters is that if you are paying for leads, you are paying in large amounts!