Blog

The Seven Keys to Magnify Your Leads

Posted by Will Erdmann on Jun 25, 2019 11:28:34 AM

When working with a lead, either an online lead or an inbound phone call, it's important to know these 7 key parts to increase your success in both quoting and closing new business.  The leads your team fights over are the great ones.  Great leads have the power to supercharge your team, and help get the energy back in their sales process.  What is it, though, that makes a lead great?  I believe there are seven keys to use for any lead that enters the funnel.  A lot of what follows may seem basic, but we know that it is the basics that win in the long run.

magnet

1. An interest in buying

The lead shouldn’t just show an interest in your products but must also show signs that they are looking to buy. To know whether a prospect is interested in making a purchase, make sure you use a vendor like Avenge Digital who only gets their leads from sources with true advertising.  Steer clear of vendors that use incentive traffic or those who give false offers.

2. A confirmed date of first contact and discovery

This is very important as it usually determines the success or failure of future engagements. A lead that has already made initial contact is likely to be open to further engagements and will happily pick your calls and duly respond to other follow up communications. Additionally, knowing that the law of diminishing returns is especially true on any lead you purchase, you want to make sure your follow-up process is timely and consistent.

3. Knowledge of your company and products

Any serious prospect will usually take time to familiarize with your company structure and your range of products. They’ll want to know who to talk to at what stage of the buying journey and whether you have different products within the same category.  Knowing this is a standard buying practice will help your team in shaping their sales conversations.  Being informative and educational will lead to buyers thinking of you as their trusted adviser.

4. Knowledge of the buying process

Does the prospect know how to move from where they currently are, step by step until they finally make the purchase? Those with a clear understanding of the buying journey are better prospects because it shows they’re really interested in getting the product. Along with step 3, you can help set up the buyer's journey by clearly outlining next steps and the process to get from prospect to client.

5. Budget

You also need to consider the financial position of the prospect. Do they have the money to make the purchase? While all leads should be treated seriously, those who have the financial resources to make the purchase need even greater attention.  Additionally, keep in mind that cost is not always a driving factor for consumers.  While we all like to save some money where we can, many people are willing to pay more if they see value in what you are offering.... so include value propositions into your conversations.

6. Authority

Usually tied to budget, authority is about having a voice in the final buying decision. This is especially important in organizations and families. Is the prospect you’re dealing with the person who makes buying decisions, is it their insurable interest they are calling about? A new driver, for example, may take interest in your products. But it’s the new drivers' parents who may have the money and authority to make the purchase decision.

7. Need

Finally, great leads are those that are in genuine need of the product or service. Sometimes people will come to your website just to watch your cute videos or read your blog just because they are looking for ideas for their own blog. Such people are rarely in need of your products. It is your job to differentiate them from serious prospects.

Conclusion

In summary, always treat every lead as a worthwhile lead because with a little information and hand holding, you can turn a so-so lead into a long time client. If you think they could be prospects, dig deep to find out their seven keys and before long you'll be qualifying them and closing new business.

Tell us what you think!  What keys to success do you have in your office that we haven't mentioned?  We want to hear from you!

Topics: Insider, Increase close rate, ROI, insurance marketing, follow up, insurance leads, insurance consultant, tips, inbound leads, telesales

About Our Blog

Follow Us for Insights Related to Insurance and Marketing

There is so much more to marketing for insurance professionals since the advent of the internet.  Our aim is to share years of experience from our team of experts, and help provide insights and an open dialog with those interested in our community. 

Subscribing to our blog will provide you with:

  • Insights and trends in the insurance industry
  • Marketing and sales strategies
  • Best practices to increase close rate
  • Tips and tricks relating to insurance

Interested in Updates From Our Team?

Recent Posts