After seeing an agent of mine have some excellent success generating leads at a local flea market, I am intrigued on trialing out a "flea market lead generation" campaign and would like advice from those who have sold at flea markets, or have generated leads at trade shows.
The reason I like the flea market lead generation concept is three-fold:
1) Beyond the sunk costs of billboards and marketing collateral, the on-going investment in renting a booth is extremely cheap. Flea markets attracting low-thousands on the weekends charge $10 to $20 for a booth. Total lead acquisition cost after a few days should be extremely cheap.
2) Flea markets attract the type of clientele interested in my product (working class stiffs and retired people).
3) As mentioned above, the flea markets around these parts attract some serious traffic.
With that said, here's the strategy I have in mind:
1) Pick 2 or 3 local flea markets to operate my booth in.
2) Advertise an "Enter to Win!" campaign at each booth at each flea market. The pull will be to win a Grand Prize of a 40-inch TV (one awarded every 3 or 6 months) and a weekly prize of something drawing on the affinity of my ideal prospect, say, like Season 1 of Gilligan's Island, or Season 1 of Walker, Texas Ranger, etc.
3) As people approach the desk to fill out the entry form, they are required to fill out complete contact information, as well as information about their life insurance information. If all requested information is not completed, then they cannot enter to win. I believe I'd get some serious follow-through on providing all information requested with the prospect of winning a $500 MSRP television.
4) At the end of each day, drive by to collect entry forms, and begin calling on them to do a sit-down to discuss life insurance.
That's the gist of the plan. Here are some concerns I wanted some input on:
a) To leverage this strategy, I would need to operate all 3 booths UN-manned, as flea markets are held simultaneously Saturdays and Sundays. Anybody see any potential problems running the program this way? You guys think I'd get more or less leads generated this way?
b) What are your thoughts on the "Enter to Win" lead generation strategy? It is an extremely broad approach to generate a lead, so I know the leads are going to need a lot more massaging to generate appointments. The only other way I know to qualify the lead more is to actually be present at the flea market and basically field questions and ask for appointments. I'd prefer not to do it this way, because I think I can generate more prospects the broad method. But if anyone has a "middle ground" idea to generate semi-qualified leads in a decent amount of volume, I'm all ears.
Thanks for any input y'all can provide.