Has anyone had success capturing Insurance Leads?

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I'm looking to expand my business by tapping into another niche and flirting with the idea of Life Insurance. I want to be able to capture inexpensive leads and market them to agents. Any thoughts?
#capturing #insurance #leads #success
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  • Profile picture of the author eccj
    So are you going to develop the leads?

    PPC is cut throat in life insurance. I have watched money vanish from my pocket fast doing that.

    PPC isn't cheap, FB isn't cheap, direct mail isn't cheap, and organic SEO is a lot harder than it was five years ago.

    I'd like to hear your plan though.
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    • Profile picture of the author deejaaymark
      The cheapest agency leads I found online are about $17 more or less... so I know there is a way of capturing them cheaper. Just have to do more research. Direct mail may be an option!
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  • Profile picture of the author zoro
    Why not use FB for your Lead Gen.
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    • Profile picture of the author deejaaymark
      FB might be an option... thinking about running some test campaigns to figure out what my cost per lead might be.
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  • Originally Posted by deejaaymark View Post

    I'm looking to expand my business by tapping into another niche and flirting with the idea of Life Insurance. I want to be able to capture inexpensive leads and market them to agents. Any thoughts?
    My thought is that there are plenty of companies selling leads in the life insurance business.
    To me, that means two things;

    1) Likely, in your area it's highly competitive, especially for online lead generation.

    2) They already know what works, how much it costs, how much you can sell the leads for, what insurance appeals work the best. What that means is that you don't have to guess what works.

    Here's a tip. Direct mail leads sell for the most, because they are the highest quality lead. And the types of insurance that is sold by these leads is; mortgage life, guaranteed issue life, and final expense life (life insurance for old people).

    It can't be a generic lead. The customer has to have a specific need, for a specific type of insurance.

    You have to sell leads in the agent's area. It isn't a business where you can generate leads across the country, and sell to agents. The leads have to be within driving distance from your customer.

    direct mail leads (where the prospect returned a postcard for information) may sell for $30-$50 a lead. But they have to be bought right away. Meaning you need to have the client before you mail.

    Internet leads (including Facebook leads) maybe sell for $15-$25 a lead. This is an exclusive lead you only sell once to a single agent. And since these leads have to be area specific, you need the client before you generate te leads.
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  • Profile picture of the author Ollie Booth
    Interesting. I'm looking for a lead generator to bring me direct leads for my injury claims business. I'd pay $15/lead and could handle quite a lot if the quality is good
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  • Profile picture of the author Boda Media
    Have you ever thought about getting some people on the phone? Hiring telemarketers from the Philipeans is quite cheap really.. considering how much companies pay for PPC that this market.

    The last time I checked, the keyword " Life Insurance Melbourne " was going for over $100 per click.

    That is just a click.. not a lead..

    It is much easier then would think to set something like that up. I have done it for my own SEO agency, and it does not cost that much considering what you are getting back in return.
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    • Profile picture of the author eccj
      Originally Posted by Boda Media View Post

      Have you ever thought about getting some people on the phone? Hiring telemarketers from the Philipeans is quite cheap really.. considering how much companies pay for PPC that this market.

      The last time I checked, the keyword " Life Insurance Melbourne " was going for over $100 per click.

      That is just a click.. not a lead..

      It is much easier then would think to set something like that up. I have done it for my own SEO agency, and it does not cost that much considering what you are getting back in return.
      I have two friends in the insurance business that have their own operations in the Philippines.

      The leads are a little cheaper than direct mail leads, lower quality though. It takes 30-35 TM leads to equal 20 DM leads.

      The only way it works is if you are calling old people and the person buying the leads is not geographically restrained.

      ADDED LATER:

      One way to make it big in insurance leads is to sell to desperate agents who are about to wash out of the industry soon anyways. They buy your leads once or twice, curse your name, and get out of the business. Do a search for insurance agent leads and the biggest player does just that.

      The amount of desperate agents who are about to wash out is higher than the legit agents so there is actually a pretty big market.

      It's not something I would want to be involved in but it works.
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      • Originally Posted by eccj View Post

        I have two friends in the insurance business that have their own operations in the Philippines.

        The leads are a little cheaper than direct mail leads, lower quality though. It takes 30-35 TM leads to equal 20 DM leads.

        The only way it works is if you are calling old people and the person buying the leads is not geographically restrained.

        ADDED LATER:

        One way to make it big in insurance leads is to sell to desperate agents who are about to wash out of the industry soon anyways. They buy your leads once or twice, curse your name, and get out of the business. Do a search for insurance agent leads and the biggest player does just that.

        The amount of desperate agents who are about to wash out is higher than the legit agents so there is actually a pretty big market.

        It's not something I would want to be involved in but it works.
        You already know this.

        The direct mail lead is better than any online lead, because the prospect had to act. They had to read the lead card, decide to send it in, and fill it out. There was physical action needed.

        The telemarketing leads are weaker because the telemarketer gets a very soft agreement to "get more information". It's simply easier to say Yes than No.

        And the internet leads are just a few clicks away. Usually, the prospect doesn't know they are gong to get a live agent in their home...until after they fill out the form.

        And most insurance leads are sold to several agents at the same time. The first one that calls (or stops by) wins. And if you find leads for $10 each, they are leads that are a year old and have been called a dozen times or more.

        If I were an agent, I would only use the direct mail leads, and only the ones I generated myself.

        Yeah, most of these lead companies are really just wanting to get a few big lead sales before the agent just gives up.
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