Troy Wilson, our CEO and founder recently sat down with David Duford, an insurance agency owner and a friend to insurance agents that want to become top producers, to talk about aged leads – how they work and why insurance agents love them.
Sit back and enjoy David Duford quizzing Troy Wilson about aged insurance leads.
In this interview, David explores with Troy why aged life insurance leads are so popular with insurance agents, especially those focused on life insurance and final expense insurance.
Here are just a few of the questions we’ll answer in this video:
- Are aged leads just as good as real-time internet leads?
- How should you work aged leads for the best results?
- Is marketing and sales automation important for working aged leads.
If you’re thinking about trying your hand at working aged leads in your insurance business, let’s talk about some best practices.
Leveraging Sales and Marketing Technology
Aged leads are so affordable that it’s hard not to get a positive return on your investment. However, they are “aged,” so by the very definition these consumers, although hand-raisers, are further away from their original interest and intent in your life insurance or final expenses product. In addition, because it has been a few weeks or even months since these consumers first submitted their requests, some of the contact information might also have aged.
Therefore, due to the nature of aged leads, we will require the ability to do follow-up and outreach at a much larger scale than traditional friends and family referrals to get a positive ROI. Luckily, the ability to efficiently work through a large database of leads has become much simpler, and less laborious with technology innovation.
The first step in setting up your sales technology stack is a CRM. There are a ton of these, my best advice is to set up a few free trials and use each for a couple of weeks. Then decide which of them is the most intuitive to you and you’re most likely to consistently use. This is the true secret to success with a CRM – using it!
The next thing that you will need is the ability to automate follow-ups through whatever means your consumer has authorized. The most effective way to follow-up with consumers is generally through their phones. We’re always connected to our smartphones, so leverage that connectivity and find the best way to reach your consumers there. Because the phone is basically a mini-computer this means that you should explore connecting with consumers via phone calls, voice mail, text messaging, and email (of course, dependent on your consumer’s explicit permission).
All of this sales technology should come together in a nicely integrated lead management system.
Use Well Thought Out Sales Scripts
Now that you have a system for managing outreach and follow up, it’s essential to be prepared to sell.
Different people have different opinions on sales scripts, but I’m a big believer in them.
Here are the few scripts that I think you should have prepared and always in front of you as you’re working aged leads:
- Opening or introduction script
- Favorite open-ended questions
- Product presentation scripts
- Common objections and how to overcome them
- Closing pivots (transitions to the sale)
You can read this article on how I write and develop aged lead sales scripts.
Be Persistent with Follow Up
Your sales and marketing automation technology are going to help with follow up, but you still need to be mindful and persistent.
Make a common practice of scheduling your next action, task, appointment, or trigger a new campaign after any interaction with a lead. You never want a lead to fall through the cracks and not close with you because you simply neglected to follow up. Remember that statistically speaking the majority of these aged leads will close – with someone. Make sure that it’s with you because you’re always top of mind.
Be Prepared to Learn and Become a Better Sales Person
Finally, the process of working hundreds and even thousands of leads will make you a better salesperson. The simple act of practicing your craft will make you more successful.
This is what makes aged leads such an asset to insurance agents. You can afford to quickly get enough “at-bats” to become a star player without bankrupting your marketing budget on high-cost leads or marketing services.
If you haven’t tried aged leads yet, register and browse the aged lead store now and get exactly the leads you need to make this month’s sales quota, and juice you commission!