The fat cats on Wall Street can teach you a thing or two about lead management. Your salesforce in the pit may be skilled at closing a deal, but that doesn’t mean diddly if you can’t get past a handshake – you have to be cutthroat quick, easy on the push, and ready to drop the hammer down.
Call dibs on your qualified leads
In the stock exchange, you sleep when you’re dead. When you get a tip on some hot stock you jump on it – or someone else surely will.
The same rules apply to lead management for your life insurance agency – for your life insurance agents to net the highest return, they need to establish contact faster than a hot knife through butter.
LeadResponseManagement.Org analyzed three years of data from InsideSales.com and your chances of touching base with a lead are reduced ten times within the first hour – six times if you’re looking to certify it.
Call while you know the consumer is interested if you want to double down on your conversion rates.
Don’t creep on referred leads
It’s not what you know, it’s who you know, am I right?
Save the breath of your silver-tongued life insurance agents for the leads with the most potential – and nothing gets your foot in the door like a nod from a mutual acquaintance.
Social referral platformers at Reppify released a study that a referral can increase your success rate on solicitation calls by up to fifty percent.
Cold calls have a success rate that matches their name – a two percent qualifying rate at the max. If we’re talking cash, that’s a mere two cents on the all mighty dollar – penny stocks.
You’re not the Wolf of Wall Street over here – don’t waste your time with pink sheets.
Leverage automated messages for a nice touch
A successful marketing campaign will cause a tidal wave of investors your way, and not every business has a sea of agents at their beck and call to handle the impact.
Don’t go whipping the interns for coverage just yet – there are other ways to keep prospects on the hook.
Stuck on a call while your other lines are blowing up? Set up your phone to send an automatic text message to missed callers that you’re tied up and toss in your e-mail address.
Automated confirmation messages issued upon receipt of data is a good coddling tool. It can provide enough reassurance to one lead while your life insurance agents bring it home on another.
Keep any automated follow ups brief though – it’s a tip of the hat, not a marriage proposal.
Lead management takes talent. Mismanaging opportunities is a quick way for your life insurance agency’s sales to make a short stop and take sudden drop.
Sales agents are neck and neck with ravenous competition all chomping at the bit for the next big score. Leads are the meat these urban carnivores feed on and you have to be an apex predator if you want to stay on top of the food chain.
Working in sales is not about a slap and tickle – if you don’t leave blood on the matt at the end of the day you’re not doing your job. Get after it.