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Top 10 Tips for Using Online Insurance LeadsThousands of agents have used our service to find new customers, and along the way we've learned a thing or two about how to make the most of web leads. Enjoy this easy-to-read guide for agents using online insurance leads.

The Early Bird Gets the Insurance CommissionTip #1

Defining Success Through ROITip #2

Understanding the Consumer ExperienceTip #3

Test to Learn What Works for YouTip #4

Taking It to the Next Level with TechnologyTip #5

Perfecting Your Business PersonaTip #6

Taking Advantage of Missed OpportunitiesTip #7

Persistence Pays - But Be Smart About ItTip #8

Knowing When It's More Profitable to StopTip #9

Advanced Lesson: Buying Leads Like a ProTip #10

Thousands of agents have used our service to find new customers, and along the way we've learned a thing or two about how to make the most of web leads. Enjoy this

The Early Bird Gets the Insurance Commission

Understanding the Consumer Experience

Taking It to the Next Level with Technology

Taking Advantage of Missed Opportunities

Persistence Pays - But Be Smart About It

Knowing When It's More Profitable to Stop

Advanced Lesson: Buying Leads Like a Pro

TOP QUALITY INSURANCE LEADS

Tip #1: The Early Bird Gets the Insurance CommissionThe most important advice we can offer insurance agents is to ACT FAST!

Once you get a lead, it's crucial that you make contact quickly.

Dear [Name],

Thank you for your online quote request for [type] insurance. I appreciate the opportunity to �nd a policy that's right for you. I will be in touch shortly to discuss your insurance needs.

Sincerely,Agent NameAgency NameContact Phone NumberContact Email

Because web leads are delivered in real-time, prompt agents can speak with consumers while they're still sitting in front of their computers.

We're talking minutes, not hours here. 2 hours = Too Late! A delayed response means a consumer may have gotten impatient and filled out other quote request forms, become busy with another task, or already begun speaking with another agent.

According to a popular lead management system, leads convert 22 times more often when contacted within 5 minutes and 78% of prospects convert with the company that contacted them first.

Ask to receive leads via email AND text message. Many agents don't opt-in to text message notification of leads, but by doing so you'll gain the ability to make fast contact while away from your desk - at lunch, in meetings, during off-hours, and while visiting other customers. Best of all, it's free!

If you receive a lead when you aren't able to provide a quote, send an email or place a quick call to introduce yourself in a timely manner and request a mutually-beneficial time to speak further. The consumer will associate you with prompt customer service and will be less likely to make a purchase until they have received all of their options.

Have the ability to email from your cell phone? Perfect - keep an introductory email draft on your phone for quick customer acknowledgement while you're on the go. Here's an example email to use when you want to make initial contact but don't have time for a full conversation:

Use technology to automatically respond for you! Even the most diligent agent can't be everywhere at all times. We share more information about using technology to make first contact in Tip #5: Taking It to the Next Level with Technology.

Visit us at .com or call 1-888-522-7355 ext 1

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Tip #2: Defining Success Through ROI

To know how successful your marketing efforts are, it's important to track your return on investment (ROI) - that is, how much you make vs. how much you spend.

Commissions $ from Policy Sales

(Cost of Leads * # of Leads Purchased)= ROI

Now let's see that same formula with example data:

$800 in Commissions

($7.95 * 30 leads)=

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Another way to look at the above return-on-investment example: if you have a $3.35 ROI - then for every $1 in marketing dollars, you receive $3.35 in commissions. That like earning a 235% return on your money!

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There is no "right" ROI number - try a variety of tactics to get an idea of what a good ROI is for you. However, if you have a ROI that is less than $1, then you're losing money and should re-evaluate your marketing strategy.

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Agents often incorrectly focus purely on closing ratio and contact ratio. While these metrics do demonstrate the relative quality of leads, it does not take into consideration the cost of obtaining those leads in the first place. A higher closing ratio definitely helps and saves you time, but the chart below demonstrates a scenario where a lower closing rate lead can actually out-perform when viewing ROI as your metric for success:

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LeadQty

Contact Rate

30

30

30

50%

30%

45%

Company A

Company B

Company C

15%

ConvRate

12%

18%

CostPer Lead

$9.50

$7.00

$13.50

Sales

5

4

5

CostPer Lead

$285.00

$210.00

$405.00

Return

$1,800

$1,440

$2,160

ROI

6.32

6.86

5.33

To calculate your ROI, add your own data into this formula:

That being said, agents are also making a mistake if they only consider price when choosing an online lead company. Price is only part of the equation when determining whether or not leads are profitable. After all, it's no good to get a lot of cheap leads if not enough are converting into sales. Price AND quality AND return (commissions) work together to determine the best value.

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Don't get discouraged because your initial leads didn't convert - look at the big picture! Before calculating your ROI you need to have statistically significant data. We recommend at least 30 leads to really get an accurate representation ofhow a company's leads will work for you. Too often agents give up too soon because they don’t have enough data to realize their actual long-term return.

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$3.35ROI

Get out your calculators! Too often agents use "gut feelings" to make business decisions when their own data is all they need to determine what marketing initiatives are making them money.


Tip #3: Understanding the Consumer Experience

You've received your first online insurance lead - congratulations! Now what? Understanding the mind-set of the person requesting the quote is important when making first contact.

All Web Leads operates a network of websites that help consumers assemble competitive quotes from insurance agents. Once at the website, consumers fill out a simple quote request form that is specific to the type of insurance they're interested in buying. Our advanced technology distributes these leads based on agent profiles. Below you'll see the main homepage of USInsuranceOnline.com, one of our insurance-comparison websites.


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Because leads are typically shared with multiple agents, the longer you wait to follow-up with a lead increases the likelihood that they will speak to another agent first.

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Sometimes it can be confusing for a consumer to speak to 5 agents at once. Because a consumer will be speaking to multiple agents, it's very important to make a positive first impression. Being professional, prompt, and memorable is key to your success.

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Hello - may I please speak to [consumer name]? Hello [consumer name], my name is [agent name] and I'm calling from [agency]. I received your online request for [type] insurance and I'd be happy to assist you. Is now a good time to speak?

Take a few moments to familiarize yourself with the lead before making contact. Because consumers have filled out a detailed quote request form, they expect agents to be familiar with their basic information. We found that consumers become frustrated when asked again for information they just provided online. It's fine to check the accuracy of your information, just make it clear to the consumer that you want to confirm the information you received.

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Work Internet leads long enough and you're bound to run into a consumer overwhelmed with choices. A few understanding words and some light humor can go a long way to building a relationship with your lead and opening the door to future conversation. Sometimes a consumer doesn't respond to initial contact, and then reaches out to 1 or 2 select agents weeks later to finish their purchase. In those situations, being light-hearted, sincere and memorable in your initial contact will make all the difference.

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If you are contacting a consumer in your area, it could be an advantage to mention that you are local. From the consumer's perspective, getting insurance quotes online might seem impersonal and anonymous. If you're working locally, mentioning you're in the same area will help the consumer relate to you and generate trust. It is also an additional selling point if a consumer prefers to meet in-person or likes to have a brick-and-mortar office available to them.

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Keep in mind that the consumer will not be familiar with the All Web Leads company name - our network of websites each have their own unique brand identity that's specific to the type of insurance consumers were researching online. Since you won't know what site they used to request a quote, take that into consideration when introducing yourself for the first time and use more generic terminology when describing the reason for your call.

Here's an example script to start the conversation off right: .

Tip #4: Test to Learn What Works for You

Be sure to test multiple lead providers, and compare their return on investment to determine the companies that work best for you. No one company will work best for all agents;success often depends on an agent's geography, selling style, competition, volume and lead type.

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Is the lead shared or exclusive? If shared, what is the maximum number of agents who will receive that lead?.

Ready to master your marketing mix? Use the ROI formula to compare web leads against your other marketing efforts. Door hangers, yellow page ads, events and newspaper ads all have a cost and return. The chart below will get you started,and then apply the formula: Commissions from Effort / Cost of Effort = ROI.

Be aware that much of the information you hear and read about lead companies can be biased. You will often hear a lot more about what doesn't work than what does. If an agent has a great source of leads, they usually don't want other agents to know about it - doing so could increase their competition and prices.

. Take it a step further and compare your ROI between different lead types - some companies might be stronger in some lead types and weaker in others.

. There's many things to consider when choosing lead companies to test:

How do they generate the leads? Many believe that the method has a large influence on the likelihood of that lead to convert.

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Do you have the availability to stop if dissatisfied, or are there contracts that require a minimum commitment?.Do they use incentives - such as an iPod giveaway - to generate leads? Beware - this is a method some companies use to generate a large volume of low-converting leads!

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Do they resell old leads? Are the leads delivered in real-time? This will vary by company, but typically newer leads have higher conversion rates.

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.Do they have a return policy that is fair and easy to understand?

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Effort Commissions from Effort

Online Leads

Yellow Pages

Postcards

Newspaper Ads

Door Hangers

Events

Telemarketing

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Cost of Effort

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ROI

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Conduct research about lead companies and you'll find a lot of conflicting information. The reality is that a good lead source will be unique to your situation, and you'll need to test to find the right fit.


Tip #5: Taking It to the Next Level with Technology

The insurance industry is rapidly adopting technology to do more with less. We share some of the tools agents use to increase the efficiency and profitability of online leads.

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Automatically import lead information into CRM system..

There are many CRM systems competing for the insurance market at a range of price points. If you're looking for a CRM system, here is a starter list of CRM companies to investigate:

Do you need this technology to be profitable? Absolutely not! Plenty of agents are successful with online leads without using these programs. We just want to make sure you understand some of the options available when you're ready to make a technological investment in your business.

. CRM/Lead Management Systems manage your leads so you can follow-up with the right contact at the right time. These programs will also help you track the success of your marketing efforts.

. Specifics will vary by company, but common CRM features include:

Assignment of leads to individual producers..Auto-respond to new leads, typically by email. . Send automatic follow-up emails on a customized schedule.

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Track performance of multiple lead sources... Schedule reminders for future follow-up - like birthdays or policy renewals.. Record email and call attempts for each lead.. Record notes and documents pertaining to a contact for easy retrieval.

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Act.Agency IQ.Broker Office.

Brokers Mojo.Dial Your Leads.. FreeCRM

. Insurance Digital Assistant

. Inside Sales

Leads360.. Salesforce.com

. Sugar . Your Insurance Office

If you're just getting started and want an inexpensive method to stay on top of leads, use Microsoft Outlook to schedule emails for a later date, or its calendar to set follow-up reminders. Whether you schedule a follow-up call 2 days or 6 months from now, you'll have a system in place to remind you to make contact. Google Calendar is another free scheduling option that's also available.

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Live Transfer Services will contact and pre-screen online leads before transferring the consumer directly to an agent. This method is more expensive, but also less time-consuming because the live transfer company is making the initial contact for you. Because of the higher cost, it will be important to keep track of ROI to ensure profitability. "Companies offering live transfer include Dial Your Leads, DoublePositive, and LeadPod.

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Auto Dialers save time by calling a lead with one click, and if the contact is unreachable it will leave a pre-recorded message while dialing your next contact. Some also scrub a list of emails against the National Do Not Call list. This list of auto dialers will help you begin your search:

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Make My Calls by Mojo.Cheetah Power DialerVoicent..

Tip #6: Perfecting Your Business Persona

Never underestimate the value of a professional and pleasant first impression. There are several factors to consider when putting your best foot forward to customers.

Agents already know that a lead is not the same as a sale - your interaction with consumers is highly influential to yourconversion rates. According to a popular lead management system, converting a lead is 57% lead quality and 43% sales process.

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Customers are naturally drawn towards people who they like and feel comfortable around. Practice skills like maintaining friendly conversations in social situations, speaking slowly and clearly, being a good listener, and keeping an optimistic attitude. An agent's personality can be a huge advantage.

Because of the unique comparison-shopping environment consumers expect with web leads, to win consumer preference it's especially important to be professional.

. Replace free email accounts that are being used for customer communication. A small investment in a professional website and email domain name helps establish consumer confidence in your agency. Would you rather buy a professional service from [email protected] or [email protected]? Domains are inexpensive, easy to set-up, and can be purchased from companies like GoDaddy.com and Register.com.

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Stand up while you're speaking on the phone - you'll automatically project your voice with more confidence. You can also write a script ahead of time to follow along with until you know the right wording to use by memory.

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Remember that YOU are your most important business asset. Invest in yourself - through educational seminars, classes, webinars, online insurance forums and blogs, industry publications, and advice from professional acquaintances.

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. People often use sub-conscious cues when making decisions about agents and companies to work with. View your communication and appearance from the consumers' perspective to make sure you're representing a professional, experienced, and approachable agent.

You have the keys to success! Top producer Chuck Taggart expressed this concept in an interview recently: "I got into the insurance business because I liked being rewarded for my own efforts. The insurance industry is one of those places where if you work hard you can do well."

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. A key element to being professional is removing personal expression. The wrong reference can be off-putting or even offensive to a customer that does not share your taste. Consider how your choices of ringback tones, hold music, email signatures, and religious or political statements could be affecting your customer pool.


Tip #7: Taking Advantage of Missed Opportunities

We've all heard the phrase "fish when the fish are biting," but what if you were also the only one fishing? Here are some ideas to decrease your competition and increase returns.

Agents typically work Monday through Friday during regular business hours, however many customers submit quote requests on the weekends when they have more disposable time to accomplish errands. Because of this, there can be an advantage to following-up with weekend leads on the weekend since you can make contact when other agents aren't working.

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Also look for trends in the geographic areas you convert well in. Since agents frequently work specific zip codes, you could discover a sweet spot where the sales regions of you and your strongest competition don't overlap.

. The same concept applies to off-hour leads - like early morning or night. An agent could strategically focus their lead flow on hours that are considered too inconvenient by other agents - but very profitable for those who are working! For example, imagine an agent who was working incoming leads from 6-to-9 am while their competition is just getting to the office.

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. According to a popular lead management system, leads generatedon the weekend are 26% more likley to convert. It makes sense - less daily distractions make for more attentive consumers. Less competition also means less risk of consumer confusion or frustration holding up the process. And as we've mentioned before in Tip #1: The Early Bird Gets the Insurance Commission - there is a huge advantage to the company that contacts a consumer first.

. Your experience with a lead company will often depend on the other agents working in your area. Try experimenting with different or complementary lead types - there might be less competition for certain leads, and once you've developed a relationship with that consumer you have a base of people you can cross-sell and get referrals from.


Tip #8: Persistence Pays - But Be Smart About It

Sometimes contacting the consumer quickly just isn't enough. Here's a few tips to improve your odds!

According to a popular lead management system, it takes an average of 5 to 6 attempts to contact a lead.

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Some agents have favorite times for calling consumers. One popular time is after work but before dinner - approximately 5-7pm. Another popular time is Saturday mornings, before weekend plans have begun. Most importantly, do whatever works best for you.

. Take into consideration the age of the consumer when deciding how to make contact. As new generations begin purchasing insurance exclusively over the web, online contact could be more appropriate for this internet-savvy consumer. This is a strategy becoming popular in the automotive industry - dealerships have created "Internet Sales" departments to meet demand for online-only quotes and purchases.

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. Most agents prefer making contact over the phone - this way they can ask multiple questions in one conversation and determine quickly if they can offer a suitable product.

. Call a contact at the same time of day that they initially filled out the lead form. Our leads are delivered in real-time, so you can refer to the time you received the lead. This helps you reach the consumer when their regular schedule might afford extra time.

. Similarly, older generations are likely accustomed to doing business over the phone or in-person, and would respond favorably to traditional sales techniques. They might have difficulty trusting a relationship that is entirely online.

. A counter strategy is to schedule follow-up calls at different times of day to increase the odds of reaching the lead. It can be as simple as printing off the lead and placing the sheets in timeframe boxes, for example: 9-11am, 2-4pm, and 5-7pm. During that time of day, call all of the leads in your scheduled box. If you don't reach the lead, that paper graduates to the next box for future follow-up. You can also track this automatically with a CRM system - for more information about using technology for insurance sales, see Tip #5: Taking It to the Next Level with Technology.

Just like some friends are bad about returning calls or replying to emails - some people have communication preferences that work better for them. Try varying the method of contact to find one that suits their style.

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Forget spam folders - don't forget the power of standard mail. Some agents send an introductory letter and a page of quote options as soon as they receive a lead. That extra investment really helps an agent stand-out in the crowd.

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Tip #9: Knowing When It’s More Profitable to Stop

At what point does a lead get "old" and it's better to work new leads instead? Sometimes an agent can make more money by moving on to new leads - and we've got the numbers to prove it!

We know, it's easy for a lead company to tell agents to buy more leads - but we really mean it! It helps to know the best places to invest your time and effort.

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. Because older leads are a sunk cost it can be tempting to work old leads too long to squeeze extra sales out of them. Psychologically, these hard-fought sales feel like a deal because they came from an expense that was already "spent" in an agent's head. In reality, they usually require significant time and effort to convert.

. This concept came up in an interview with top agent Chuck Taggart, where he revealed his agency's conversion rates based on the age of a lead:

"I know that if I work my way down the list of prospects where I call a lead and get the person on the phone with the �rst call, I have a one in eight (1:8) chance of closing a sale. If it's the second call, then then I also have a one in eight (1:8) chance. After that the third call drops to one in eighteen (1:18) and the fourth to one in twenty three (1:23).

If you have 100 leads in front of you that are on the fourth call, then there are four deals out there. But instead of focusing on these old leads, if you bought 100 new leads, you would have a one in eight shot, and there are 12 sales in the pile.

Of course you'll have to spend money on the new leads. But it is actually more pro�table to stop calling the old list and focus on new leads. So I emphasize with agents that you're spending the same amount of time and the same number of phone calls."

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Chuck's closing ratios equate to the following conversation rates:

Closing Ratio

First Call

Second Call

Third Call

Fourth Call

1:8

1:8

1:18

1:23

Conversion Rate

12.5%

12.5%

5.5%

4.3%

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- Chuck Taggart

Commission from 8 Sales - Cost of 100 Leads = Additional Profit from New Leads

5. Now see for yourself - is the profit from 8 additional sales worth the cost of 100 new leads? It is for Chuck, and we believe agents typically make more money when they work newer leads.

. The takeaway: Even though it's tempting to not spend additional dollars by working old leads, it is actually more profitable to work new leads because the additional commissions you get from an increased conversion rate typically outweigh the cost of new leads.

. Does that mean you should abandon old leads? Not at all. Instead, you should automate your contact to old leads knowing that they will have a significantly lower conversion rate, so it will be more profitable to spend your time elsewhere. For example, you can schedule automatic emails to check in every month, quarter or year.

Visit us at

Let's test these assumptions in a real life example. We'll consider a first-call lead "new" and a fourth-call lead "old" in this case. Since every agent's situation is different, you can enter your own lead cost and commission estimates.

1. Assume you can only follow-up with 100 leads a week. This week, you have the option to buy 100 new leads, or follow-up with 100 older leads that you've previously purchased - so in this example option B would require no additional expense.

2. First calculate how much new 100 leads would cost.

3. Using Chuck's conversion data as a guide, converting 4.3% of 100 old leads would mean about 4 sales. Converting 12.5% of 100 new leads, which would mean about 12 sales.

4. Now we need to calculate if we made more money with or without the investment in 100 new leads. Since the difference between the two options is 8 sales, calculate the extra commission you would earn (average commission per sale * 8).


Tip #9 Continued

Tip #10: Advanced Lesson: Buying Leads Like a Pro

Most of the advice in this guide can be applied to any lead carrier, but these pointers are specific to All Web Lead's system. But hey - that's what makes them advanced!

Our leads are carrier-exclusive, which means that we'll round-robin the leads between multiple agents of the same carrier so they never have to compete over the same lead. This also ensures the consumer is receiving a variety of insurance quotes from our service.

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Another way to increase the price of the lead is to add filters - however this can lead to a catch-22. If the number of leads a filter eliminates is greater than the increased allotment caused by a higher price, an agent is not able to improve volume through the addition of filters.

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If you discover that you and another agent in your office are receiving the same leads, the most likely cause for duplicates is that all agents within the office aren't using the same carrier in their profiles. A quick phone call to our support line (1-888-522-7355) will fix the problem!

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If you're a captive agent, be sure to identify your carrier in your profile so our proprietary system will prevent your leads from also being shared with other agents in your office. Independent agents will still be eligible for all of the leads that match their profile.

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Filters are a powerful tool to improve the quality of your leads, but they also limit the quantity that you can receive. If volume is a priority, reconsider your filter settings and see if there is a configuration you're comfortable with that will allow you to receive a larger percentage of the leads in your area.

. Do you need more volume? You've found a source of new business that's working for you - of course you want more! Getting quantity and quality leads is a delicate balance and there are several factors to consider:

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See if you can expand your geographic area to include a larger footprint, and in turn a larger population that could be requesting insurance quotes.

. All Web Lead's distribution system uses many factors to determine how leads are distributed, including price. In high-competition areas, agents often choose to raise their base price in order to make themselves more competitive. This can be done by a customer service representative by calling 1-888-522-7355 ext 2.



. Are you going to be out of the office for vacation? Attending a conference? Have a schedule booked with meetings tomorrow? Pause your leads on days you aren't available to work them. A customer support representative will assist you at 1-888-522-7355 ext 2. This will allow you to reallocate your lead budget towards days that you're available for fast follow-up, improving your conversion rate. You can even request your leads be automatically reactivated on the day you return!

. Another method to reduce the number of leads you receive during unavailable hours is to manipulate your lead flow through your All Web Leads online account. You have the ability to change your daily and weekly lead maximums online anytime. If you have already received at least 7 leads this week, you can effectively pause your leads by changing the weekly lead maximum to 7. Be aware, your leads will resume when the new week begins on Monday.

. All phone numbers provided are disconnected or fax numbers.

. Your return on investment numbers might be too low if you aren't taking advantage of All Web Lead's generous return policy. You can return a lead within 10 days if it meets any of the following conditions:

. The lead is a duplicate already received from All Web Leads.

. The contact is another agent testing the system.

.The contact is a student researching a school project.

.The contact information is obviously incorrect upon initial inspection.

.There is a language barrier with the prospect.

To return a lead, simply log into your online account and select the lead you need to return for credit. Select from the drop-down menu the appropriate reason for returning the lead, and please be sure to provide us with as much information as possible in the comment box so that we may improve our system.

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Tip #10 Continued

We make returning leads a simple, no-hassle process. Each lead returned for credit will be independently veri�ed to ensure it meets the return criteria. More detailed information about our return policy is available on our website under "The AWL Di�erence."

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