September 29th, 2011
• Responding immediately, regardless of the day and time, is fundamental to a successful inquiry response strategy.
• Staffing your sales team according to lead volume and outside the classic work week (Mon-Fri, 9am-5pm) gives your organization a strategic advantage.
• Purchasing and generating leads, including inquiries, outside of the classic work week is most likely to produce a higher ROI.
• Responding to leads received on a Saturday convert 10% higher than the regular work week.
• Consumer inquiries should receive immediate response (within 5 minutes) to further increase conversion rates.
• Responding to each inquiry by following the 6 call attempt approach will produce nearly the maximum conversion rate while minimizing workload.
Note: Research has found that attempting contact 6 times resulted in the maximum possible conversion rate, yet nearly 60% of sales people made less than 6 contact attempts.
• Ensuring that each inquiry receives 6 contact attempts within the time frame windows specified will result in a dramatic increase in conversion rates versus making calls at other times.
• Creating a systematic business process for responding to consumer inquiries with speed and consistency is critical for any organization.
1. Change your thinking—and your business.
2. Research the right leads and right providers for your business.
3. Re-educate your sales force.
4. Select a lead management system.
5. Determine how you want to distribute leads.
6. Become metrics driven.
September 12th, 2011
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.
