What Every Agent Needs to Know About Leads

I remember how jarring it was for me when I first heard that I should buy leads. To be honest, my stomach dropped, and my hands began to sweat.

I had so many questions. Why am I paying to go to work? What if I didn’t sell anything? What if I couldn’t find anyone home? What if I got a chargeback? What if I couldn’t close? 

Fear always seems to take us to the worst case scenario, doesn’t it? 

Dropping $700-$1,000 a week on marketing may sound like a no-brainer to someone who knows how to run a profitable business, but to me it sounded, well, crazy. Maybe you are thinking the same thing. 

It really isn’t our fault. We fell into the same trap that most people fall into. I mean weren’t we all taught that we should go to school, get an education, and get a good job? My school never taught me how to be an entrepreneur, or how to run my own business.

I was caught in the cycle of being an employee when Roger Short presented this opportunity to me. I was allowing someone else to take a risk, and for the longest time, I felt grateful for being offered a paycheck for the minimal work that I was willing to do, and let the business owner take on all of the risks and receive all of the rewards.  

When Roger offered this opportunity to me, I was not satisfied with my opportunities at work. After seeing what Roger was doing, I knew that it was time to finally bet on myself. Investing in leads was a big part of the gamble that I was finally willing to take. 

Maybe you feel the same way and you just don’t know where to start. Leads are an income-producing machine that can help you, at the least, triple your income. That is really what a lead does. You put X amount of dollars in and a 3-5X return comes out of the machine. The return is determined by your willingness to invest and do the work.

Riches in the Niches

The average person will buy life insurance seven times in their lifetime. Do you think it would be valuable to know when people are typically buying insurance? I am sure that you do.

The two most common times that people purchase life insurance are when they purchase or refinance a home and when they reach retirement age. We call these niches final expense and mortgage protection.

These are specific markets that we can pull data from. This allows us to market to these groups of people through direct mail or digital advertising. People respond to these advertisements and as a result, these marketing efforts produce hundreds of thousands of qualified leads. 

spending vs investing

Now, if you had to choose between spending your time prospecting for clients or actually selling to clients, which would you choose?

Let me make it easier for you…what if there wasn’t a cost for leads? I’m guessing that you would choose leads every time. Why? You would choose leads because it would save you a massive amount of time!

As a business owner, your time is valuable. Unfortunately there is no such thing as a free lead. It will always cost you time or money. As a business owner, you have to manage your time differently. There is a lot that demands your attention. You have to focus on administration, marketing, sales, and growth. Leads are an investment into your business that will allow you to actually purchase time to run your business.

If you are going to be a business owner you have to think differently about your time and your money. New agents typically consider leads a typical expenditure, like their rent payment, or car payment. They are not a typical expenditure, they are an investment. Leads are actually money that is simply waiting to be collected. You can even write your leads off on your taxes.

Your life will change when you get your head around leads and what they can do for you and your business. Start thinking like a business owner. Invest in your business. Invest in yourself. Commit to retiring every lead and you will win! 

If you have any questions about your sales, leads, or your business we would love to hear from you. To us, there is simply no such thing as a dumb question. We may have the answer for you, but if we do not we will find it with you. You can connect with us at lifeinsuranceacademy.org or simply reach out to us on any of our social channels. 

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