Here is a Leading Question (Part 1)
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What is the top challenge in the insurance business? You might jump to answer: keeping up with all the changes occurring within the industry; but it's time to rethink that concept. The number one challenge is ...... (drum roll, please) ..... Getting Leads!
Whether or not your are a new agent or a seasoned vet, we all need to think about leads and how to generate them. So let's break it down into 3 easy-to-chew parts: what is a lead, lead types and the values of those different leads and finally, how to get those leads (Collins, Sam. "Have I Got a Lead for YOU." The Reverse Review (06/2009): 22-25).
Part 1 of 3: Sales Lead vs Sales Prospect
A sales lead is pure data; it consists of names, addresses, emails or even telephone numbers. That is it! Several resources for this data are trads shows, direct marketing, advertising, internet marketing and cold calling.
A sales prospect is more informative. A lead moves to a prospect by going through a qualifying process. Pre-qualifying is a way to separate the productive data from the nonproductive — so you can maximize your selling time. Why not find out who is actually suited for what you are offering. You don't want to spend valuable time offering a Medicare Supplement to a 42-year-old, OR a Reverse Mortgage to someone that doesn't even own a home, RIGHT?
And finally, when a purchase is made, the sales prospect turns into a closed sale. Yeah, Team!
Sales Lead = data
vs
Sales Prospect = valuable information