How to Get the Most Out of Purchased Leads
On average, how many prospects respond to an email, text, or phone call on the first day? Many don’t. So, how do you get the most out of your leads? Well, part of the answer lies simply in waiting. 70% or more might reply within the first week. This means that prospects coming through the funnel on Thursday or Friday likely won’t respond until the next work week, which can make managing the prospects in your funnel a logistical nightmare.
Life Has Its Delays
Why the delay in response? Like you, your leads are busy. They have work, lives, and emergencies big or small to attend to each day that might keep them from eagerly replying to your email. For example, local weather can be a major factor in many businesses closing operations for several days, leaving them unable to respond to any calls or emails, whether they wanted to or not.
There is also the possibility that your leads are shopping around, meaning how and when you follow up with them could be the difference between landing a lead and losing one.
Communication is Key
The key to getting the most out of your purchased leads lies in consistent communication and care. Though it may not seem completely logistical, your leads expect you to respond within the same day, regardless of how long it took them to respond. If you want to keep their interest, your sales team needs to take care of those leads for the long term. So how do you make sure that anybody who came through your funnel that day is still getting what they need days later?
Your sales team needs to be ready to keep track of each prospect for a week or more, which can be difficult if their goal is to contact five to ten new leads each day. Lead management software can help carry some of the burdens of remembering each lead’s individual needs and questions. Even diligent email inbox organization can help by “bumping” any correspondence your team hasn’t answered that day and pinging emails that leads have not responded to in some time to encourage a follow-up.
The other side of the coin is consistent communication. Having a system to automatically send emails and text messages on your behalf can save your team countless follow-up hours. Of course, these leads still need calling, but now your team won’t have to worry about the added work of typing and sending messages as well. Setting up automation can take a little time upfront but can save so much over time.
Something else to consider, with internet leads, it is difficult to close at their current renewal. More often than not, you’ll be able to close them at the following renewal or even the one after that. Because of this, it’s important to not only have automation setup for initial contact but also to follow up with households at each renewal. This requires having a good system in place. AgencyMVP is one such system. In AgencyMVP, you can create a workflow to reach out to households when they first come in. After the workflow is complete, Agency MVP can automatically move households to a workflow based on renewal dates. That way, your team doesn’t have to worry about remembering to assign new automation to each household. Their X-date workflows, as they are called, run every renewal for three years unless halted.
For more information on how to get the most out of your purchased leads and other great info on insurance sales, check out our podcasts at Insurance Agents Think Tank.
