Insurance agents and brokers are increasingly faced with higher cost per lead prices for quality customer prospects. Here are six tips for lowering your cost per lead without sacrificing quality.

1. Do your research!

Don’t just run a test with the first company you call. Compare different price models and options from different lead vendors.

2. Buy in Bulk.

Increasing volume can help to decrease cost.

3. Aged Data!

Purchasing 30-60 day old data can help cut the costs especially when data comes at $1 per record. If you can save someone money on insurance you may be able to get them to switch even if they recently signed a new insurance agreement.

4. Mix it up.

Purchase a mix of aged data and real time data. This will help to keep costs down without sacrificing volume.

5. Open Filters.

Keep in mind that the more open your filters are the better the price. If you limit your filters too much you will increase price and limit volume.

6. Commit to a month campaign.

Signing up for a month’s worth of leads can not only drive down price but it will also give you the most accurate idea about overall contacts, conversions and closes.

In the world of insurance lead generation, you get what you pay for. But quality doesn’t always have to come with a high price tag. Don’t panic if you can’t afford to pay through the roof for those top notch leads because here are some insider tips on how to get quality insurance leads without draining your bank account:

Choose a Professional Lead Generation Company
Not only are you paying for the leads themselves but you are also paying to work with the company selling you those leads. Make sure that you purchase from a reliable and experienced lead generation company.

Check the Quality of the Customer Service Support
In case you have questions, you want to make sure that someone will be there to help. You should know the name, number and email of a representative from the lead generation company.

Check the Replacement Policy of Your Leads
Sometimes, even the best filters will let through a bad lead. While this isn’t uncommon, you do want to make sure that you have options.

Go Semi-Exclusive and Trust that Your Agents Will Close
The industry stigma is that semi-exclusive leads are not as valuable as exclusive leads. However, semi-exclusive leads are a good way to go to ensure that you get quality leads at an affordable price. If you have a rock solid team with agents that you can count on then there is nothing to be afraid of. Let your agents showcase their talents, and save some money along the way.

Make Sure Your Leads are Verified and Pre-Screened
This will help increase the quality of the leads and enhance your conversion rates.

Remember Quality Over Quantity
Don’t waste your time and money on a ton of leads with no conversion possibilities. Make sure the leads you purchase have high quality and high potential for conversion.

Lead generation is a vital part of your business. It can make or break the success of your company. Don’t settle for anything but the best and use these tips to make sure that you are getting the best quality insurance leads possible for your dollar.

There are many verticals within the lead generation space and Insurance is proving to be the next up and coming vertical to get into. Over the past few years, shopping online has gone from the basics like clothes and office supplies to include insurance. Consumers are moving online to find the insurance company that’s just right for them. As a result, Insurance lead generation has evolved into an ever growing force in the industry.

The success of an insurance agent can depend on the leads they receive, which is why the quality of a lead is important. Here are three insider tips from an inside source to increase close rates:

• Choose a lead generation company that you can communicate with. Feedback is the key to success with leads and its important to find a company that you can establish a relationship with.

• Have an idea of who your ideal lead would be, but be open to broadening your range and opening up your filters. It’s OK to be picky when it comes to your leads, but being too exclusive can actually hurt you more than help.

• Monitor your Geo targeting. Make sure you keep track of which states you have a higher closing rate in. This will help you in the future when it comes to filtering your leads and creating a higher turnover rate.

Lead generation companies take a unique approach in handling the marketing side of the insurance industry to create valuable and high quality leads. The demand from buyers is what has facilitated the growth of the insurance lead generation industry. While the quality of a lead is up to the lead generation company, the closing rate depends on the quality of the insurance agent.

Lead generating landing pages with contact forms may seem similar.  In a lot of ways, the forms are similar as they collect contact information, vehicle information and driving history.  So what makes one insurance lead better than another? The source!

Here are 6 insider secrets on what to look for in a quality insurance lead.

• Know where your leads come from.  Watch out for companies that employ affiliate companies that do their generation for them, spammers, or those that use co-registration paths in their marketing campaigns. The most important aspect to generating a quality lead is being able to control where the lead grows. At Underground Elephant, all leads are generated internally through organic traffic to our landing pages, though pay-per-click campaigns or through social media displays.

• Get what you pay for.  Make sure your lead generation company gives you specific criteria and volume options so that you have a higher chance of closing. Underground Elephant generates leads based on the demand of our buyers.

• Buy real-time leads.  With search based marketing, you are receiving a lead that is actively seeking a quote for insurance.  We take that information and deliver it to you in real-time so you are connected with the consumer at the peak of interest.

• Narrow the competition.  Buy leads that are only being sold exactly 2 times.  Often times, leads are sold up to 6 times, hurting your contact rates and closing ratios.

• Test with Confidence.  Commit to testing an adequate sample size.  While testing 50 leads may sound more cost effective, it is more difficult to judge contact ratios, closes, and conversions unless you increase your sample.  Don’t skimp on your test to save money.

• Give Feedback. Performance based agencies like Underground Elephant rely on the feedback that clients provide.  Because each campaign is unique, we fine tune campaigns to meet the criteria that you have requested.  Without your feedback, we cannot provide you with the best, homegrown leads.  Even if you don’t use Underground Elephant, be proactive in giving feedback to your lead provider to get the most relevant and highest closing leads as possible.