Arenít you better off buying new real time internet leads instead of aged leads that are 3 to 90 days old?
No and hereís why. When you buy a shared real time internet leads at $7 to $10 each you are buying a lead that is being sold to several other agents at the same time that are all racing to try to contact the prospect first and then continue to bombard them with tons of calls that first week.
Well, what about exclusive real time internet insurance leads and mortgage leads, wouldnít they be a better option?
The problem with buying exclusive internet leads besides the extremely high price you have to pay per lead is that even though the lead company you are buying from may be selling it to you as an exclusive lead another site the prospect visited may be selling it as a shared lead or at least that is what you are being told by the lead company when you call to complain that your "exclusive" lead is being called by other agents. So you have to also rely on the honesty of the lead vendor you are buying from that they arenít selling this "exclusive" lead to another agent. Worse yet they could be telling you the truth that THEY donít sell it to another AGENT while at the same time they are doing lead swaps with other lead vendors so they arenít selling it to another agent themselves the other lead company they swapped leads with is. As the president of the Independent Health Insurance Agent Association has said "I think the best way to promote credibility in the lead industry is for certain vendors to stop scamming agents". How true.
But wouldnít it be less time consuming to work real time leads than aged leads? Wouldnít I have to put in 20 times the amount of effort to make the same money?
Ethan Selph who does over $60,000 AV a week working aged leads says he does not put in any more time calling on the aged leads than he did when he was buying new exclusive real time leads. For more info on how he does this kind of production working aged leads be sure to watch a webinar we did with him as he describes his system. You can request the link to this webinar on our aged insurance leads info request form.
With that being said, arenít there agents who do well working real time internet leads?
Yes there are agents who do well working real time internet leads but if you can make as many sales or more buying aged leads why have a higher client acquisition cost to obtain a client which cuts into your profits?
What specifically makes calling an aged lead better than real time leads?
Thereís nothing more aggravating than spending $7 for a shared real time lead and hearing that you are the 15th agent to call them that day of their inquiry or paying $20 for an exclusive lead and not being able to reach them and not getting a return phone call from them after leaving them a message to call you.
What many agents donít realize is that over 95% of the agents who buy real time leads donít bother to contact a prospect after the first week so in most cases you are the only one contacting them in the weeks after their initial inquiry so most if not all your competition has disappeared and the people are more receptive to talk to you now that are not being bombarded by tons of agents.
Now some of these people will have bought already when you reach them (which is even the case when buy them as new leads and someone reached them before you) but the majority of the prospects will not have bought anything yet and are ready to buy. Remember these people went looking the product on their own so most of them do have some level of interest so you have a good shot at picking up a lot of business by calling on a lead that in most cases no one is contacting anymore.
So what is the client acquisition cost to obtain a client with aged leads vs. real time leads?
If you go by the numbers the insurance lead industry touts, they say that an agent should be selling 1 out of 20 for a shared real time internet health insurance lead that is being sold to several agents. At $7 a lead, if an agent is selling 1 out of 20, the client acquisition cost would be $140.
If the number the lead industry touts for exclusive leads is correct they say an agent should be closing around 1 out of 7. At $20 a lead, if an agent is selling 1 out of 7, the client acquisition cost would also be $140.
On the other hand if the agent were to work aged leads, the common number touted in the leads industry is that an agent should be selling 1 out of 60. At .55 a lead for example with an aged health insurance lead the client acquisition cost would be $33.
What is the best way to work aged leads?
If you were to upload aged leads into the triple dialing power dialer we recommend you could use your time very efficiently to call a lot of phone numbers. The more calls you make, the more people you reach and the more people you reach, the more sales you are likely to make. Plus if you send automated sequential drip emails to these prospects throughout the year you will pick up additional clients that way as well. Even though there are plenty of agents who make great money just manually dialing the aged leads and nothing else, you can make even more using a dialer and sending out drip email.