« Insurance Agent Websites and Making Sales | Home | Success in Insurance Marketing »
Insurance Agents Experience With Converting Sales Leads to Sales
By admin | February 6, 2008
I think that you will find this very interesting. This was originally published by Brad Howard, the Director Of Only Financial. The point of the post is that a large percentage of sales are made from insurance sales leads that are a month old or more. A lot of you should dig through those old files and make sure you have a system to stay in contact with prospects that did not buy on that first sale! In my own personal experience, the first call allows me to get to know a client and survey them about needs. I often find that my second or third contact is the productive one, because they have had time to think about buying insurance and have made a decision! Do not be afraid to work those older leads!
From Brad Howard, as posted on American Insurance Broker.
Thought you’d appreciate this data. Some of it comes into line with what you thought it’d originally be (you thought earlier that 14 average attempts per sale was low). The dialer system allows us to track call attempts all the way through delivery. We are converting leads that were first generated over 3 years ago and have had repeated call back attempts only to convert this past month. Many are leads that are well beyond 60 days from create date and would likely never be followed up on since they are that old. This assuming the agent is doing manual out bound attempts.
As I compiled some of this today from data that was passed to me internally I was reminded of the recent study that showed more than 80% of purchases done online occurred within a year after the shopper made the initial inquiry and seldom with the vendor with whom they initialized that first inquiry. So it would be in keeping with that study, these numbers:
o Average number of days after lead creation date that sale was completed – 31
o Average number of attempts before sale was completed – 42
o 22% of sales were made 30 days after lead was created
o 10% of sales were made 60+ days after lead was created
o Cases converted beyond 30 days had a $100 higher average premium
o Average case across the board $926Of course these numbers are still in flux so as they age further we’ll know better the final averages. From where I sit the 22% + 10% (or 30+%) of sales made after 30 days are probably never realized by most agents. It becomes impossible to make call attempts that far out on that many leads when you are juggling fresh ones coming in and more recent ones too. That 30% is a huge number……….
insurance sales leads, insurance prospects, internet insurance leads, telemarketing insurance leads
Technorati Tags: insurance sales leads, insurance prospects, internet insurance leads, telemarketing insurance leads
Topics: Using Internet Leads Right! | 1 Comment »
One Response to “Insurance Agents Experience With Converting Sales Leads to Sales”
Comments
You must be logged in to post a comment.
February 11th, 2008 at 3:34 pm
[...] found an interesting post on Insurance Lead Site about the average age of insurance sales leads that convert into sales. I think a lot of new agents [...]