Does this sound familiar?
Your insurance agency is buying and generating a high volume of quality leads, you have a highly capable sales department, and yet your ROI ranges from decent to poor.
At Leads360, we hear the above scenario almost on a daily basis from frustrated insurance companies wondering what they could do if anything, to raise their ROI. Most of the people we talk to, try to follow all the industry best practices and stay up to date with all the tips and tricks, but were astonished when we asked one simple question. “How many times are you calling each lead?” Usually after a brief pause, they respond with, “What does this have to do with my problem?” The answer is, it can have everything to do with your problem.
Recently, Leads360 had a hunch that there was a relationship between the number of attempts made to contact each lead and overall ROI. After examining over 15 million leads, our hunch proved correct. Leads360 discovered that making two calls, versus just one, increased the chances of contacting a lead by 87%. Now it may seem obvious that if you increased the times you called a lead, you would increase the likelihood of contacting a lead, but we also found out that 50% of leads are never even called twice. This number should scare you, as it means that valuable leads are being wasted by not being given the proper attention needed to convert.
So now you know that you need to call more than once, but what is the optimal number of times needed to contact a lead?
Leads360 found that the optimal number of times needed to squeeze the most amount of value from your leads was six. We discovered that on your 6th attempt of contacting a contactable lead, your chances improved by an unbelievable 93% . This means that if your producers are not contacting a lead six times, they are not doing enough.
Now that you know these key metrics, your first reaction may be that you are accumulating too many leads. The truth is you don’t necessarily need to decrease the volume of leads your company is receiving. It may be that you simply need to manage your leads correctly. With Leads360’s lead management software, your company will have the full visibility it needs to manage smartly and efficiently. Your company will have an eagle eye’s view over the entire sales process, so that you can ensure that your producers are making the most out of the leads that they have.
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