Here is a Leading Question (Part 2)
Filed under:
Last month we changed your thinking, right? Remember — the top challenge in the insurance industry is getting leads. Now, let's move into the different types of leads and the values of those leads (Collins, Sam. "Have I Got a Lead for YOU." The Reverse Review (06/2009): 22-25).
Part 2 of 3: Types of Leads and the Differences
Junk Lead: mostly a waste of time & money.
You might as well open the phone book and point — it's essentially the same thing. If you are a new agent and have more time than money, well, then you may want a data list because they are very, very, very cheap. These leads may not qualify for your products because of age; lack of equity; insufficient income or investments; or respond by tearing up your message and mailing it back in the envelope (Yeah! Confetti).
Possibility Lead: part of doing business.
Seem qualified on the surface, but find it may be down the road before they qualify for your product. They are planning ahead, so don't throw out good future leads. Keep these leads in a tickler file, to tickle your brain to touch base with them when it is time.
Qualified Lead: saves you time and money (also referred to as a sales prospect)
Mr. Smith, age 65, who owns a home in the range of $200K – $250K, that bought a block of CDs, wears white socks with his brown tweed slacks from the high-end galleria anchor store, downtown Chicago (kidding on the pant part — but you get the idea?). This is a targeted lead that is age appropriate, has equity, or expressed an interest and left contact info for you to call or send a mailer.
Survey Lead: the article says "waste of time & money most often" but...
WASTE: If the survey goes out to a data list, it's like mailing out a scan-tron test asking generic questions like "have you heard of Reverse Mortgage". If the recipient checks YES, it still doesn't mean they are qualified to purchase your product. These surveys may never ask if the receipt is qualified.
SAVES: If your survey mail piece is sent out using a pre-qualified lead list and more directed questions, at least it's directed to the correct audience.