Work Your Plan before you Give Up
Your ROI expense should consist of the cost of the lead and the time dedicated to pursuing it. Unless you are given a hard “no” by the prospect, the following activities should take place:
o You should make at least 5 attempts to speak with the prospect over the telephone. Since lead capture forms do not provide all the information needed to offer a legitimate quote, you must get the balance of the information over the telephone or by email.
o Your first contact attempt should be about verification and discovery. If no contact is established after two phone calls, send an email (from your discovery template) that asks the appropriate questions about the risk. Many times a prospect is more willing to respond to an email than take a phone call from an unfamiliar number.
o If, by the end of the day, the prospect has not called back (leave only one message) or responded to your email, it’s time to send a quote to get their attention. Sending a meaningless quote is better than doing nothing. Many times a prospect will respond to a quote that you can correct after getting better information.
o If there is still no contact by the next morning, try another phone call and a follow up email (from a follow up email template). The best time to call is in the morning, at lunch time, and after 6pm in the evening.
o If by the third day, you have still been unable to make contact by telephone or email, it’s time to send a Wrap-Up email. The wrap-up email will read something like this:
Recently I sent you a very affordable quote for your business insurance, but have been unable to make contact with you to discuss it. If you are no longer interested, or if you have purchased elsewhere, please let me know so I can close your file. If you are still interested, please call or email me with any questions you may have.
You will be surprised how many prospects will get back to you because of the wrap-up email. The response may or may not be good news, but at least you’ll know if it’s time to move on and X-date the lead.
Many agents will send a low-ball quote just to get the prospect to respond. That may or may not work because a smart prospect is going to understand when they’ve been low-balled and may feel like a bait and switch is going on.
The thing an agent should always keep in mind is that you purchased the lead and the chances are unless you sell the prospect, you probably will not interact with them again unless you X-date the prospect (which you should absolutely be doing), so why be concerned that they may think you are annoying them. Unless you are told to stop contacting them or they are not interested, you have every right to work that lead according to your established plan. But, and this is very important, you must have a plan.