Lack of important Information
There is, in my opinion, a lack of consistency in gathering the most important information; what does this company do? The main culprits are the lead companies that ask for an SIC code without a brief description of the company’s business. I don’t need an SIC code, especially when the prospect selects a broad class of business and I still don’t have a clue what they’re doing. Actually, I believe the lead should have both since I’m sure the leads are filtered by the SIC code in the first place.
A typical example is that lead that comes in with a business name like Apex Services and they select 1721 for “Painting and Paper Hanging”. Can you start a quote without speaking to the prospect? Absolutely not. As soon as you start a quote thinking this prospect is a house or building painter, you’ll discover after speaking with him that he actually paints bridges and other infrastructure because he just got a contract with the state. So then, wouldn’t it be better for the agent that’s purchasing the lead to get a brief description of the business in the first place?
Provide Tips for the Prospect
While the number of employees and sub-contractors are usually provided on every lead, the lead company should offer tips for the prospect about what an employee is, what a sub-contractor is, and what an owner or officer of the company is. It’s surprising how often a sole-proprietor will list themselves as a full-time employee of the company and you do not know about this until you finally make contact (if you ever do) with the prospect and then usually have to re-quote them.
They should also offer tips on what the definition of revenue is. I have seen leads come through showing an $80k payroll with only $40k of revenue. Certainly you are not going to guess at this and then have to go back and re-submit your quote request. We don’t need quote practice.
Obvious BS Leads
I know that every internet lead provider will provide credit for leads that are obviously bogus. You know, the ones that have obvious bogus email addresses, phone numbers, and names. So then, if they know they will be issuing a credit for these types of leads, why do they send them in the first place? Surely the lead providers can develop some type of algorithm to detect names like Mickey Mouse with an email address of firstname.lastname@example.org. Oh, and by the way, if six agents ask for a credit on the same lead, you don’t need to call the prospect yourself, just approve the credit.
I understand that lead providers want to differentiate themselves from the competition, I get that. But insurance is insurance and every carrier requires the same information so why can’t the lead companies survey the agents to find out what they need to do differently? I have never had a service representative ask me “what could we have done differently” when I canceled my account after thirty days of service.