Posted by Gary M | Posted in Personal Insight | Posted on 12-08-2010
Tags: insurance, leads, lists, loyalty
How do you go about obtaining leads from internet lead providers? Buy them every week, have them sent to your e-mail inbox, and you or your team member quote the prospects, right? Hopefully you “earn” the business because of your “johnny-on-the-spot” technique. It’s even more likely if you impress them with your knowledge and background. Historically, that was enough to allow you to encourage the customer to be loyal enough to keep them from looking for a cheaper rate through at least ONE renewal cycle. NOT.
When you buy leads from internet vendors, can anyone confirm what happens at the 6-month or annual renewal? It’s an unconfirmed rumor that they are sent, by the lead aggregator, no matter if they are insured by your company or someone else, a REMINDER TO SHOP FOR RATES. So, let’s say you insure a customer with company X. They may be getting a REMINDER to shop rates not only at Companies A,B, C, and D, but also with your Company X, and the representative with Company X may NOT be from YOUR OFFICE.
How do companies overcome this potentially devastating breakdown in loyalty perpetuated by lead aggregators? Build loyalty through relationships BEFORE they can be destroyed by reminders to start shopping again.