Cheap health insurance leads could be your most profitable lead sources.
Have you thought about what makes health insurance leads cheap?
More importantly, have you thought about why these may be your most profitable lead sources?
Health insurance is a very competitive market. You’re constantly battling a saturated market full of small incremental wins. That’s why you have to find the edge if you want to turn your insurance business into the big success that gives you the reward of financial independence.
Having given it a lot of thought and talked to many insurance professionals I think the inches that will return the big wins are actually in cheap health insurance leads.
Here’s my thinking…
1. Unsold Health Insurance Leads – Like any other competitive activity (sport) the competition drops off big time when things start getting hard. Insurance sales is no different. There are tons of small niches in the insurance market that go completely unserved simply because they are hard to write or they are less profitable (in low volume)–prospects that are really young, really old, low income, rural addresses, etc.
The opportunity? These few day old leads, aggregated into significant volume (Internet lead specifically), can be a highly efficient way to write a lot of responsive insurance business. Responsive because they need insurance, yet nearly exclusive because of the demographic.
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2. Aged Health Leads – Much like unsold health leads, aged health insurance leads can be very profitable because they are a little bit harder to work (meaning you need to call them – what a concept!) and a lot cheaper. After insurance leads have sat around for 15-90 days they often become hot again. Things change, jobs change, life changes, or maybe they just become receptive again after the initial barrage of calls from their first Internet Web inquiry.
3. Uninsurable Health Insurance Leads – Age and demographics isn’t the only things that create great health insurance lead niches. The structure of the American health care system naturally leaves a large segment of the population (millions) uninsurable. From pre-existing conditions to economic situations there are people that need alternative health coverage solutions. These people are appreciative, typically exclusive leads, and the alternatives like discount cards and plans can be very lucrative and diversifying for your insurance business.
Would you like to explore integrating some of these highly profitable health insurance lead strategies into your insurance business? Contact Next Wave Strategies for a free consultation on uninsurable and aged insurance lead strategies.