Understand who you're dealing with and Why
The prospect went online for insurance quotes because they don’t like dealing with a dozen agents on the phone. They want choices, and they want to comparison shop. They want to feel like they’re in control of the purchase process and that they are making a decision that is important to them and their business. Let’s face it, people want to buy insurance like they buy shoes on Amazon. They do not wish to spend an hour on the phone with an agent unless they feel like their time is going to save them some money.
Be first in the Door
The agent that reaches the prospect first is always at an advantage. Every quote that follows the first quote is only a comparison as far as the prospect is concerned. The prospect feels like you called them immediately because you care, and in most cases, that in itself will help you convert more leads. There are several Whitepapers available from various lead providers that point out that quick contact is the most important part of the selling process. If you haven’t yet, find them online and study the results. By the way, the first agent on the phone with the prospect has more time to build rapport than number two through eight.
Have a Process and Use It – Every Time
You cannot fly by the seat of your pants; no matter how long you’ve been doing it. Develop a process for working your leads and stick to it. This means setting up email templates for sending quotes, following up, and wrapping up. Many of the lead companies out there offer some type of CRM to help you manage your leads and your process. Take advantage of these freebies and put them to work for you. Your process should be fluid; not static. Make tweaks as you learn what’s working and what isn’t.
Don’t quit on your Prospect
Don’t give up too soon. Velocify’s research shows that the optimal number of call attempts should never be less than six. Their report also indicated that over 50% of agents working internet leads never attempted a second call to the prospect. You or your office paid $20 for a lead, and you’re going to make one call and then give up? Give me a break! Your process should include at least six phone calls and at least three emails before you send that lead to the x-date dump.
Set Realistic Expectations
If you are relatively new to working internet leads, do some research. Read and study reports put out by companies that study the marketplace and do not have an interest in the results. Many agents become terribly disappointed when they do not achieve the conversion rate they were expecting only to find out down the road that they set their expectations too high. You must keep in mind that the commissions are in the renewals, not the initial sale. The initial sale is the toughest part so do the research and know what to expect before you get started.