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You don't need more leads. You need to be the best at converting them.
If you convert your leads the best, you ultimately will be the winner.
Let's examine that:
If you are buying the cream of the crop, exclusive, direct mail leads - what will you pay?
Most likely between $50-80 per lead. Let's say $50 and you buy 50 per week - that's $2,500 of premium leads, we'll cover and adjust for less expensive leads a bit later on...
Let's say - you'll average around $1,200 or so in APV per deal.
You might have a great contact ratio at 75%.
You might have a great SET ratio at 50% of contacted leads (50% of contacted leads get set into an appointment).
You might have a great SHOW ratio at 65% (65% of SET appointments will SHOW up).
You also might have a great SOLD ratio at 50% (50% of SHOW ups result in being SOLD)
And an issued/paid ratio of 75% (75% of SOLD leads are actually issued and paid to you).
Let's examine what that truly means, using the lower end as an example:
That equates to a 9.14% ratio of leads to sales. Most agents don't even hit that number, which means that the true cost per commission/sale is even GREATER.
A 7.5% lead to sale ratio comes out to $667 per sale if you pay $50 per lead.
A 5% lead to sale ratio comes out to $1,000 per sale if you pay $50 per lead.
A 3% lead to sale ratio comes out to $1,667 per sale if you pay $50 per lead.
80% of sales are made on the 5th-12th contact.
Let's say on average, 8 contacts per lead, per sale, but you normally set the appointment on contact 3.
And you spend 45 seconds waiting for the contact to pick up...
You spend 30 seconds leaving a voicemail per call...
You spend 45 seconds typing in numbers each time or fumbling through leads or getting distracted.
That's 45 + 30+ 45, or 2 minutes per lead per contact, before you get a hold of anyone.
And you do this 3 times to set the appointment, or 6 minutes through out your week per lead to get your first contact. (remember we're using 75% lead to contact ratio as an example).
If you buy 50 leads per week, that's 300 minutes, or 5 hours a week cold calling to contact around 38 of your leads.
Let's say your average phone call in order to get someone to set an appointment is 5 minutes. (remember we use a 50% of contacted leads to a SET appointment.)
That means you'd spend 5 minutes on half of your 38 contacted leads, or 19 x 5 = 95, or an 1.5 hours a week.
Of those 19 SET appointments, you'll get 65% to SHOW up, or around 12 appointments shown, which you'll potentially spend 15 minutes driving to, but let's just say an 45 minutes set a side per appointment. That's 8 hours of your week.
That means 7 didn't show up, and you probably wasted a 15 minutes or so waiting on them or driving to their house or whatever else could have come up. That's 1.45 hours wasted.
Of the 12 that showed up, you should have 6 sales at a 50% closing ratio. These 6 would take another 30 minutes or so, or 3 hours total.
Of these 6 sales, if 75% issue and pay out to you, that would be between 4-5 commissions paid, let's say 5 for arguments sake. Maybe there's a combined 1 hour between all 5 sales following up on the sale or checking payment status.
Now, at $1,200 APV per deal you're looking at $6,000 in issue paid commissions! Awesome!
Minus the lead costs of $2,500, so you're really down to $3,500.
Now accounting for the time it took to get here, around 20 hours.
That's $175 per hour.
Sounds great in theory...
If you convert your leads the best, everything else falls into place.
Everything that used to be an issue is no longer an issue.
Because you are converting leads at the best rate meaning you're:
Set Show Sold
Set More Appointments™
Show More Products
It's literally our name.
So when you ask "How do I achieve that?"
We are the answer.
At Set Show Sold, we help you achieve a more profitable insurance business.
These Insurance Agents & Agency Owners Have Already Joined The Set Show Sold Movement
We've perfected this in many industries - and as an insurance agent you stand to benefit from our expertise and exclusive offerings for IMO agents and agency owners..
"Over $40,000 in closed deals in the first 60 days "
"Think about leaving no stone unturned and then think about taking out anything that's repetitious, mundane and time consuming."
Frank Brenes, The Brenes Agency Owner
"I closed a 6 month old lead after the automated system continued to follow up even after I forgot about them. Just one of many deals added by Set Show Sold."
STEPHEN BRENES, The Brenes Agency Owner
"Within minutes I had dozens of calls back, within an hour I had 3 appointments, within a day I had a $2,200 APV deal!"
MICHAEL VIGIL, The Vigil Agency Owner
"I don't know what to say... at 3:45 today I uploaded my leads into Set Show Sold. In less than a minute. By 4, I had scheduled an appointment that I was on the phone with for a while, as well as missed six other calls."
Jeffrey Benson, The benson agency owner
Beau Hirshfield, Agent with The brenes agency
Carrie Aguilar, The aguilar agency owner
Henry Lam, agent with the brenes agency
Courtney Mazurek, agent with the brenes agency
Ultimately, we help you Set More Appointments™.
You don't need to buy more leads. You need to be the best at converting them.
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