It’s a problem every insurance sales manager faces when he or she is looking for sales prospects. You want to buy auto insurance leads, but the price of fresh, exclusive leads is high enough to make your eyes cross. You’ve probably heard that aged leads are a waste of time because they don’t convert.
Actually, the second statement is a myth, particularly if you’re selling auto insurance and particularly if you buy your leads during their renewal seasons.
What Are Renewal Seasons?
Most people who purchase car insurance buy it for a period of either six months or one year. If you can catch sales prospects between five to six months or 11 to 12 months after they first requested information about auto insurance, you’ve caught them during their renewal seasons.
Why Do Renewal Seasons Make a Difference?
In order to answer that, it’s important to understand what aged auto insurance leads are. Basically, they started out as fresh leads that somehow got bobbled. They either received a single call with no customer relationship management, or CRM, or they never even received an initial call.
This means that they probably had to settle for an insurance plan which didn’t entirely suit their budgets or their needs. Therefore, if you contact them during their renewal season with the right offer, you may find them easy pickings.
How Should You Make Contact?
The most popular method of getting in touch with aged leads is cold calling by phone but you may find that reaching them by Email, direct mail, or visiting their home can also be very effective as so few of your competitors will utilize those methods.
Where Does Customer Relationship Management Fit In?
Once you’ve reached out to your aged leads, use CRM software to stay in touch with them on a regular basis. Even if you don’t win them over during this renewal season, your persistence might well earn you their business at a later date.
If fresh leads are beyond the scope of your budget, consider purchasing aged leads that are in their renewal seasons for auto insurance. You may convert more prospects than you once thought possible.
