One of the most common misconceptions about online marketing is that it has a "set it and forget it" mindset. This means that once the account is open, the product and territory you choose will stay the same for the lifetime of the account.

A more proactive approach allows for greater agility in changing markets, and can improve ROI. We suggest exploring the unique qualities of each sales area and company. For example, consumers in Kings County, New York, have a different market from those in Tempe, Arizona. Relying on a basic approach would be a disservice to your marketing plan.

Consistency makes accurate data-driven decisions, but you need an ongoing, interactive approach as well. Your account must keep up with market trends, and the market is always shifting. For insurance agents new to lead purchasing, this can be an intimidating process.

Understanding all the nuts and bolts for ongoing analysis and measurement can be a discouraging task. In the beginning, it's enough to set the wheels in motion. Data takes time to accumulate and measure. Your best path in the beginning is to keep your options open. From there, you can start seeing which patterns and trends work for your area and try to create more measured results.

What Are Strategies of Sophisticated Lead Buyers?

Multiple Lead Types

It's important to add different lead types to your account whenever possible. If you are able to write auto, home, renters, life, or health insurance, be sure to include each lead type on your account. Your company might emphasize one policy over another. If so, you can increase the day caps of that individual lead type without excluding the others.

The highest returns on Internet leads come from cross-selling them. With that in mind, try to expand your account as much as possible.

When there are multiple lead types, we can attract prime candidates for multiple products. A portfolio with limited leads leaves clients having to select several specialized companies. Multiple lead portfolios, however, take care of all the client's needs in one place.

Recall the phrase "killing two birds with one stone." Multiple lead types follow this phrase very closely, as they cover many filters all at once. This kind of cross-selling will bring you to the greatest level of profitability.

At QuoteWizard, we offer quality, high-converting, auto, home, renter, and life insurance leads. All these lead types create endless possibilities for cross-selling opportunities. We even offer more focused insurance lead types within broader categories. For example, in our auto insurance leads category, there's:

  • Preferred
  • Preferred plus
  • Preferred good credit
  • Premium leads

Having multiple lead types to choose from alongside our filter technology means agents can get the most out of their accounts.  The more lead types you have, the more likely it is your customers will buy into a cross-selling strategy. That brings us to the next strategy of a sophisticated lead buyer.

Diverse Lead Portfolio using Lead Filters

Just like a resume, a lead portfolio should have variety and depth. Both of these go hand-in-hand to attract those who eventually look at it.

Internet lead providers sort through leads in many ways. Keeping limited filters on your leads will capture a larger audience. Lead providers like QuoteWizard use high-quality filter technology and verification systems to ensure that agents get only the best leads. Additionally, all leads are tracked to assure that the best sources are always available to help produce future leads.

We recommend setting up a diverse lead portfolio. Using lots of filters to build your ideal consumer, though appealing, costs more. However, a non-filtered lead may not be in your cards.

The ideal approach would be to take multiple lead types so that you get your bottom line buyer and the largest market possible. From there, you can decide which leads to pursue and which ones you likely won't profit from.

QuoteWizard's filters make it easy to narrow down leads if the pool is too large. You can filter leads by:

  • Age and demographic
  • Geography
  • DUI and license suspensions (for auto)
  • Number of cars (for auto)
  • Health issues (for life)
  • Face value amount of a policy

Large Territory

Are you willing to drive to the next county to close a sale? It's always a good idea to accept leads in the largest territory you can write your business.

Large areas mean more prospects looking to buy insurance. This way, ZIP codes become a problem of the past. Our most successful agents take on broad territories, since the consumers they work with mostly favor talking via phone and internet.  

Consumers look for the easiest, most convenient way to shop for insurance, and often this is online or by telephone. Catering to these needs not only helps improve business but also brings in more prospects. Having more availability helps meet the consumer's needs by communicating through their chosen method.

We provide a cap (or limit) each day on the number of leads you receive so that you can best work at a manageable pace. You should set your daily cap higher than your goal of quotes needed per week.

Although this might seem like over-reaching, some consumers won't respond right away, and you'll have to set a follow up time. In any case, it's usually better to prepare for more than to stock up short on your product.

Developing Your Own Strategy

Ultimately, you should develop your own strategy while still finding the most cost-effective leads. QuoteWizard is here to help you put in place a plan that works for you.

Be open to testing different lead types and filters. Being flexible about how you develop your strategy can be surprisingly helpful, rather than having a straightforward, flat plan. Depending on the resources available, you can compare results when you cast a wide net and not a narrow one.

Our experienced and committed account managers and client-services reps will happily discuss your strategy and help provide insight for agents of different carriers.