Did you know that the average independent insurance agency spends $16,400 per year on marketing? This is roughly 19% of most independent insurance agencys’ total annual expenditure.
Experts say that this is too much—and we agree. In reality, most independent insurance agents should rather be devoting 5-10% of their yearly expenditure on marketing.
Are you spending sky-high amounts on marketing, and not seeing the results you need? If so, it might be time you sourced a reliable leads provider.
Partnering with a lead provider will give you a guaranteed source of leads at a set price. This has multiple advantages for independent insurance agents.
Curious to know how a leads provider can boost your insurance agency? Keep reading to find out the top benefits of partnering with a trusted lead provider.
1. A Lead Provider Can Help You Kickstart Your Business
Are you just getting started as an independent insurance agent? If so, utilizing a leads provider can be particularly pivotal for your business.
One of the big benefits of partnering with a lead provider is they can help you kickstart a new agency.
If your agency is new, not many people will know who you are. Branding a new business takes time, and in the interim, it can be hard to generate business via word of mouth.
Organic marketing methods also need time to mature, and advertising can require a fair-sized budget and some fine-tuning.
During this period you will also have fewer referral leads.
All of these factors can make it very hard for new agents to generate enough leads in the beginning.
Fortunately, if you utilize a leads provider, you don’t have to rely solely on your own lead generation efforts. Through a lead provider, you can buy leads without having to put in any upfront work.
All you need to do is purchase the list of leads and start working on them.
2. A Good Lead Provider Is a Guaranteed Source of Ongoing Leads
Not only can a lead provider help you kickstart your pipeline in the beginning, but they can also be an ongoing, guaranteed source of leads.
If you buy insurance leads from a provider, you will know exactly how many you are getting, and by when. Having a guaranteed source of leads that you can tap into at any time can be invaluable for an independent insurance agent, no matter how old your business is.
If you choose the right leads provider, you will also have ultimate flexibility over how many leads you want to buy and when.
Having a slow month? No problem. All you need to do is place an order with your lead provider and you can fill the gap and keep business rolling in.
Or maybe your organic marketing methods are generating more leads than usual? If so, you can simply hold off on your lead order until you need to supplement your lead flow again.
Just make sure you pick a lead provider who doesn’t try to lock you into a contract or fleece you with hidden fees. Here at Final Expense Sales Leads, we don’t believe in trying to trap agents into disadvantageous agreements.
We know that your success is our success, which is why we don’t ask agents to agree to long-term commitments or charge cancellation fees.
You are free to order leads whenever you want and to stop ordering leads whenever you desire, with no strings attached.
3. It’s Easy to Work Out Your ROI When Working With a Leads Provider
Another advantage of buying leads from a lead provider is it’s pretty simple to work out your ROI. All you have to do is calculate the total commission you receive on average from a batch of leads, then divide it by the number of leads in the batch, and you can work out the ROI on each bought lead.
Working out the ROI on other sources of leads can be a lot more complex. For instance, if you’re implementing inbound marketing, it’s often hard to estimate the true cost of each lead and the average rate of return. You’ll need to factor in the cost of any SEO services, content marketing services, design services, etc.
Besides this, there might be some hidden costs that are tricky to quantify, such as your time.
With bought leads, you know exactly how much each lead costs, and whether the cost is worthwhile the return.
This can also help you evaluate the quality of your leads. If you find that certain leads types are not paying for themselves or making a decent return, you can use this data to inform your future decisions.
For instance, if you find that buying leads from a specific provider isn’t generating much of a return, you can always switch things up and try a different lead provider or a different quality lead package.
4. A Lead Provider Can Help You Win Back Time
Good time management for insurance agents is essential. If you’re an independent insurance agent, chances are you have plenty of demands on your time and are stretched thin. From working leads to implementing marketing techniques to handling office admin—it probably feels like there’s just not enough time in the day to get everything done.
The key is to balance core, revenue-generating activities that move the needle. If you spend all your time marketing, you won’t have enough time left to focus on working your existing leads.
If you just work leads and neglect marketing, at some point your leads might dry up. It’s hard to maintain the perfect balance, especially if you’re working under time pressure.
Once again, this is a problem that a lead provider can solve for you. Generating your own leads can take up a lot of time, time that you could be devoting to contacting leads and making sales.
Buying leads from a lead provider can help you win back time. Every lead you buy is instant. You don’t have to dedicate any “marketing time” to generate it. Instead, it simply arrives on your desk, ready to be worked.
5. Buying Leads Gives You Time to Develop Organic Lead Sources
As we just outlined, buying insurance leads can help you free up time that you could devote to developing organic lead generation.
You should never neglect current leads just to work on organic marketing channels, but this doesn’t mean that organic and inbound marketing methods are not worthwhile.
Inbound marketing is a long-term strategy that can take time to generate leads and results. It’s also something that can require a lot of fine-tuning. Even marketers sometimes struggle with organic lead generation, and stats show that 61% view it as their top challenge.
However, once inbound strategies kick into gear, they can be an ongoing source of insurance leads that generate results into the future. The secret is to devote steady amounts of time and investment to organic lead generation.
Diving headfirst into inbound marketing and spending entire weeks blogging, researching keywords, and tweaking your site, only to not touch it again for months is not going to get you very far.
Buying leads gives you a reliable source of leads to work and frees up time. This, in turn, allows you to focus on organic lead generation on an ongoing, steady basis, without overextending yourself.
6. You Don’t Have to Rely on Advertising
Besides organic lead generation, the other primary way insurance agents generate leads is through advertising. Paid ads have their benefits and can be effective once you nail down your ad strategies.
However, advertising comes with upfront costs, and conversions aren’t guaranteed. Stats show that the average person is exposed to 1,700 banner ads per month, but only sees half of them.
Although advertising is a useful lead generation tactic, it takes time to perfect. In the beginning, you’ll need to accept that a part of your ad budget will probably end up going towards fine-tuning your ad parameters and overall strategy.
You’ll need to try out different types of ads, different calls to action, and different platforms. For instance, while Facebook might be a good source of Medicare leads and final expense leads, it may not generate as many conversions for products aimed at a younger target audience.
You’ll also need to carry out A/B testing and tweak ad timing, etc.
If you don’t have a lot of time and energy to devote to learning the ins and outs of paid ads, why not let a leads provider do the hard work for you?
A good lead provider will have already perfected its lead generation methods, all you have to do is specify which types of leads you want.
Looking for a Leads Provider You Can Trust?
Utilizing a leads provider nets you a guaranteed, ongoing source of leads. It also helps you win back time and takes some of the pressure off of your marketing endeavors. Instead of rushing your marketing strategies, you can take your time fine-tuning them, while still having a steady stream of leads you can rely on.
All you need is a leads provider you can trust.
Not all lead providers have your best interests at heart. There are many providers out there who will charge you top dollar for stale, unqualified leads.
This is not the case at Final Expense Sales Leads. Your success is ours, which is why we only offer qualified leads complete with proof of quality, including Medicare leads and final expense leads.
Browse our insurance leads to get started.