Influencing Lead Conversions

Written by Jessica Adkins

February 15, 2018

Q. What influences my lead conversions?

A. Many factors can influence lead conversions for an insurance agent. These factors are significant to know and understand. Why are these factors important?
The thought is the better you know the influences, the more opportunity you have to utilize the impact to your advantage.
Speed: Think about yourself when you are shopping for something or are interested in a product. Because we are an impulse based society, you are more likely to purchase a product from the first website you visit, or the first sales person that shows an interest in meeting your needs and expectations. What this means for your leads and business practices, the faster you can make contact with a prospect, or lead, the more likely you are to close the sale.

Many companies offer what is known as warm transfers from lead generating websites, as most consumers research products or services online. Some vendors will use paid advertisements as a means to capture leads and re-sell them to insurance agents. Another option is that you create landing pages on your website and generate your own leads. The key to successfully doing this, however, is to make contact within the first 5 minutes of receiving the lead. This prevents the prospect from “shopping around.”

Persistency: If the initial conversation with the prospect does not end in a sale, don’t stop there. Multiple attempts should be made to discuss your product and services with the prospect. This can be tricky not to be too overbearing to the client. It’s important to meet with the key decision makers together (i.e., husband and wife), conduct a needs analysis in-person, and present a solution based on the needs they have identified.

Another great way of increasing your persistency is investing in a client management system. This will help you identify prospects, review past notes from meetings and create reminders to make contact based on specific event triggers (i.e., birthdays, anniversaries, etc.) This helps you remain in constant contact and ensures you never “lose leads.” This goes along with the next influence; tracking.

Tracking: A good tracking system is needed, as mentioned about the client management system. This system can be different for each individual agent but is necessary to make sure no clients or prospect fall through the cracks. There are multiple options based on your budget, your business model, and your knowledge of technology. For more information regarding recommended industry-specific CRM, contact your Agent Pipeline representative for more details.

Sales Model: In the art of sales, business coaches across the world have created multiple sales model types that are incredibly effective. However, it’s necessary for you to identify what works best with your personality and product offerings. Fine tune the model and make adjustments accordingly. Once you have perfected your model, ensure that your sales process is uniform and repeatable. Hone in on your skills and make sure the first time a lead comes in you take that prospect through the process you have identified as your successful sales model.

Education: Your ability to educate the client on why he or she needs the product should be the first step in your review of their needs. Providing them with knowledge and a better understanding of the product and how it meets their needs makes all of the difference. When you break this barrier and work with them, talking with them – as opposed to them – you are also building trust and establishing a relationship. Long lasting agent-client relationships create more opportunities for referrals, cross-selling, and a steady stream of renewal income.

It’s imperative to focus on the key influences of lead conversions. By educating yourself, perfecting your sales model, tracking your prospects and clients, you can become even more proficient in your persistence. It’s a chain reaction that can lead to amazing opportunities. Lead management is the key to turning leads into clients. If you would like more information on how to perfect this process, contact Agent Pipeline at 800-962-4693 for a more in-depth discussion.

-A.J. Fiorelli, Regional Vice President

A.J. Fiorelli is Regional Vice President of Region 4, covering the Colorado, New Mexico, West Virginia, Pennsylvania, New York, New Jersey, Maryland, and Rhode Island markets. A.J. has been working at Agent Pipeline for 9 years, specializing in Medicare Health Plans. If you are an agent and would like to speak with A.J.to learn more about the opportunities available in your market, you can contact A.J. at 800-962-4693 ext. 6459.


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