A Good Example of Bad Insurance Lead Gen Marketing

Quick Tip for all of the new (and experienced) agents out there.

Don’t buy an email list and bulk spam insurance quote or any other marketing offer. It’s a poor tactic at best for business contacts and flat out illegal to send to consumer addresses.

This posts was prompted by some upcoming Open Enrollment Medicare spam that hit my inbox today thanks to the folks at Scoop Interactive, LLC.

Screenshot below
Scoop Interactive LLC email spam

Bonus Tip #1: Regardless of how slick you may think you are, if you spam you can be found.

Bonus Tip #2: If you buy insurance leads it might be worthwhile to see if the spammer is trying to sell the leads.  If they are sending traffic to a lead vendor property, then my advice would be to avoid that source.  It is a good sign that the lead company does not have a good handle on affiliate partners.

Senior Insurance Sales List Guide

Marketing insurance and financial products to the senior market can be a challenge for newcomers.  While the older generations are certainly warming up to technology, it is important to utilize traditional and comfortable outlets to reach a broad section of the market.

To do this I like to utilize marketing lists which can be used for both direct mail and cold calling (if scrubbed against the DNC).  Mail and phone are both channels that perform well with seniors due in large part because they have more time to read the mail, talk on the phone and take in-person appointments.

Regardless of how a marketing sales list is used I wanted to write this short guide for those of you looking to buy list for a specific senior product.

For starters I suggest testing multiple list providers.  Some will have rigid filters and fields and others will offer a lot more flexibility.  Most of them will have similar data from various sources, much of which is aggregated public data and data from credit reporting agencies.

What is important is the accuracy of the data which is most often related to when it was collected.  Look for an accuracy guarantee of at least 90% or higher.

When buying a list I like to get as many fields as possible for cross promoting, custom filtering and for informational talking points.  Most list providers will offer the primary filtered fields along with name, gender, postal info and carrier route at a minimum.  Additional non-filtered fields that may or may not be offered can include age, date of birth, homeowner/renter, length at residence, marital status, children (age), dwelling size, home value, income, net worth, number of vehicles,  and household size.  There are actually many other fields that vary across list providers but these are all typically in the service’s master file.

Senior Product Filters for Sales Lists

This list offers some of my preferred filters for senior market products.  I created it as a base starting point to narrow the audience.  You can filter additional fields to narrow down your ideal prospect even more.

Final Expense

Age: 60-80
Income: Under $75,000

Medicare

Age: 64-80
Income: $20,000 to $90,000

Notes: Marketing regulations prohibit cold calling for Medicare Advantage products so if you can get a lower cost for a list without phone numbers go for it.  If you plan to sell Medicare supplement products or promote alternative products first you may want to elect to keep the phone numbers.

T65

Date of Birth: Turning 65 birth date ranging 3 months before and after your send data (Tight Targeting)
Age: 64-65 (Broad Targeting)
Income: Less Than $100,000

Annuity

Age: 45-70
Income: More Than $50,000

Long Term Care

Age: 45-70
Income: More Than $40,000
Marital Status: Married

Again, these are just personal suggestions.  Feel free to tweak or add your own filters to meet your preferences.  I hope it helps you.

For those of you that might need a bit more info before jumping into senior products and marketing sources you can find some good info to get you on your way here, here, here and here.

Life Insurance Leads

Life Leads

Over the past year or so I have seen an uptick questions related to insurance leads.  Many of the questions have come from agents and financial advisors after they have already tried various types of life leads and the main question I get is where to find a good lead company.

After digging a bit I typically find the underlying issue is not the source as much as HOW the lead is processed.  If the method of working a lead is not sound the producer won’t realize success on a consistent basis no matter how good the lead source might be.

So….today I want to go over a few basics regarding contacting a lead.

Reminder: This advice goes along with the speed to contact advice posted here.

Here are three steps to follow when a working a life insurance lead (or just about any other type of insurance lead):

1. First attempt to make contact on the telephone as soon as it comes in. As you know, it is much easier to close a sale over the phone because you can work with the consumer to better understand their situation.  This also gives you an opportunity to make content at the peak of interest before other distractions come into play (assuming it is a real-time lead).

2. Make use of email. There are going to be times when a consumer wants to communicate via email and it is important that you meet the prospect at their preferred medium. When you contact a lead via email, make sure you are concise and complete with your answers. Since you are not communicating in real time, you need to make as much progress as possible with each message you send.  Take a forward looking approach and try to answer any questions or objections you could encounter beforehand. If you have already spoken with the person on the follow use email to recap and pitch your unique value.  If you have exhausted all efforts add the lead to on ongoing drip email marketing series and follow up manually on renewal dates.

3. Don’t give up after one failed attempt. You may call an online insurance lead just to find that they don’t answer their phone. As frustrating as this can be, you don’t want to give up. Continue to make contact until you finally get the person on the phone.  I suggest making at least 7 attempts via phone before moving a lead to an auto responder list.  You will probably be surprised  to see how many leads end up converting at 5 call attempts.

Are you confident in your ability to follow these three steps? If so, put them into practice and you will be ready to make progress with online life insurance leads.

For a good look at life insurance lead sources I recommend checking out this site.  You can also check out Kevin’s ILR or our Where to Buy Leads post.