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How Much Should You Spend on VA Insurance Leads Generation
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How much you, as an insurance agent, should spend on VA insurance leads generation depends solely on the quality of the lead and how valuable the lead is to you. One thing is for sure, unless you are paying on the lower side for a lead ($5), rather than on the high side ($30), then it will be important for your profit margin that you stay away from buying dud leads that are no good to you. There are several criteria that you can use to determine how valuable a lead may be to you and therefore how much you should pay for it.
Making Sure Your VA Leads Are Worth the Money
Is the VA insurance lead exclusive or non-exclusive? An exclusive lead will be sold only to you and no other insurance agent. A non-exclusive lead will be sold to other agents. Although a non-exclusive lead may only be sold three to five more times, one extra agent competing for the business of your lead is one too many. You should also be asking if there is any type of ‘bad lead’ guarantee provided by the company. A bad VA insurance lead is one where the information provided on the lead is either false or no longer valid, neither of which you want to pay for. If you are buying very cheap leads that are not guaranteed, then you will have a better chance of receiving old and outdated or false leads.
The Value of VA Leads
How targeted are the insurance leads? For example, are they just random names and phone numbers of military veterans (not so valuable lead) or are they names and phone numbers of veterans who took a survey and indicated that they were dissatisfied with their current coverage or currently had insufficient coverage (valuable lead). Similarly, what if the VA lead was given some sort of reward for providing their name and phone number? A lead where the person was given something in return for providing his or her information is usually less valuable than those that were not enticed by an incentive. A valuable VA insurance lead also must consider what information the leads contain. A lead with a phone number and e-mail address will be more valuable than a lead with just an e-mail address, since it is often more profitable to contact a lead by phone than by e-mail. If you can also get an address to send marketing material to, that is even better.
All in all, you want to pay for a VA lead what it is worth to you and your business. Insurance leads that fit most, if not all, of these criteria should be given the most consideration and you should be willing to spend a pretty penny on them. If it is more likely to be a valuable lead, you may not want to flinch at a $20-$30 price tag; but if it is likely to be a ‘hit or miss’ lead, then you may want to not pay more than $5-$10 for it. The name of the leads game is to get as much return out of your leads as possible. The more you pay for a bad lead, the worse your return on your VA insurance lead generations will be.
How much you, as an insurance agent, should spend on VA insurance leads generation depends solely on the quality of the lead and how valuable the lead is to you. One thing is for sure, unless you are paying on the lower side for a lead ($5), rather than on the high side ($30), then it will be important for your profit margin that you stay away from buying dud leads that are no good to you. There are several criteria that you can use to determine how valuable a lead may be to you and therefore how much you should pay for it.
Making Sure Your VA Leads Are Worth the Money
Is the VA insurance lead exclusive or non-exclusive? An exclusive lead will be sold only to you and no other insurance agent. A non-exclusive lead will be sold to other agents. Although a non-exclusive lead may only be sold three to five more times, one extra agent competing for the business of your lead is one too many. You should also be asking if there is any type of ‘bad lead’ guarantee provided by the company. A bad VA insurance lead is one where the information provided on the lead is either false or no longer valid, neither of which you want to pay for. If you are buying very cheap leads that are not guaranteed, then you will have a better chance of receiving old and outdated or false leads.
The Value of VA Leads
How targeted are the insurance leads? For example, are they just random names and phone numbers of military veterans (not so valuable lead) or are they names and phone numbers of veterans who took a survey and indicated that they were dissatisfied with their current coverage or currently had insufficient coverage (valuable lead). Similarly, what if the VA lead was given some sort of reward for providing their name and phone number? A lead where the person was given something in return for providing his or her information is usually less valuable than those that were not enticed by an incentive. A valuable VA insurance lead also must consider what information the leads contain. A lead with a phone number and e-mail address will be more valuable than a lead with just an e-mail address, since it is often more profitable to contact a lead by phone than by e-mail. If you can also get an address to send marketing material to, that is even better.
All in all, you want to pay for a VA lead what it is worth to you and your business. Insurance leads that fit most, if not all, of these criteria should be given the most consideration and you should be willing to spend a pretty penny on them. If it is more likely to be a valuable lead, you may not want to flinch at a $20-$30 price tag; but if it is likely to be a ‘hit or miss’ lead, then you may want to not pay more than $5-$10 for it. The name of the leads game is to get as much return out of your leads as possible. The more you pay for a bad lead, the worse your return on your VA insurance lead generations will be. |
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