For the most part agents, who are new to purchase leads, commit a mistake in grabbing a provider, that depends on the cost. Cost does matter, no doubt in that, but it has a very little impact on the ROI. Cheap leads with a low conversion rate might be little easier but this brings up the question, why you are not converting the leads?
If lead conversion has very little to do with pricing, then what are other factors we can use to pick a lead provider?
You will need to filter the leads, that you receive, especially if you are dealing with commercial lines. It is a somewhat easy to filter commercial leads, as each and every industry class allocates a specific code. But the lead provider will not always allow you to filter leads according to these codes, sometime you will need to filter according to the class. Let’s take an example, you are having a big carrier on the main street retail and you are offering good pricing, then the class of your business will bring about better conversions. And if you don’t have a product liability market and are very competitive with general liability, then you need to filter out the codes, so that you don’t need to pay for the general liability leads. If you don’t filter the leads properly, you might get overburdened with totally useless leads, for what you have spent your hard earnings to purchase. Usually agents discard the leads that are not suitable to the prospect.
Paying for leads that has bogus information can make the matter worse. What worst can happen is the lead provider fights you assuming that you are trying to flee with the refund that you do not deserve. Make sure, you understand and accept the provider’s terms for returns before asking for returns on leads with bogus information. A lead provider has to be sure that the agent doesn’t pay for the prospect’s stupidity.
The Situation gets worse when you contact a prospect that is fed up of the calls from numerous agents. Some lead providers will surely guarantee that their general liability leads won’t be repeated. But how to make it sure? The best way to check it is after making the sale, when you will get an opportunity to talk about the number of calls by different agents and the number of emails being sent to your new customers from other agents
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