Scott WheelerScott WheelerChoicePoint Precision Marketing

Travis SchraffenbergerTravis SchraffenbergerWestern & Southern Life

September 15, 2008

Bringing Home the Bacon!

Session Approach

• Points we will cover:

– Introduction

– Definition of a lead

– Lead vendor characteristics

– Lead generation methodology

– What to look for in a Lead program

Look Familiar?

• “Agents using this complete system in the senior market spend $1225 and earn $33,600 every month”

• “We have the most comprehensive lead generation program in the industry.”

• “Everyday, the Internet will find new prospects for you that provide their personal information: name, address, email address and phone.”

• “Our agents, on average, meet with 10 new prospects each week, closing between 5 to 8 of them.”

• “You will increase your company revenue significantly in the 2nd half of this year.”

• “I’m consistently writing $4800 to $6300 in premium every week. I’m a little ashamed to say that I’m only working 3 days, but that’s how I like it and it works for me.”

• “Work smart and not hard and let the Internet work for you.”• “You Can Consistently Earn A Six Figure Income! It's EASY... Once

You Know The Insider Sales Secrets!”• “Our Pre-Qualified Leads provide us with the ability to issue leads that

carry full guarantees.”

Definitions of a Lead

• Anatomy of a Lead– Universe: Total population (suspects)– Prospect: Insurable individuals within the

appropriate target market– Lead: Individual indicating a desire to know more

about a financial services product– Qualified Lead: Insurable individuals within the

target market who have indicated a desire to know more about a financial services product or service

• Varying degrees of “Qualified Lead”– “I’m just shopping around”– “I don’t want to meet, I’m just looking for

information”– “I need someone to explain this to me”– “I’m ready to purchase – bring the application”

Definitions of a Lead

– Universe: Total population (suspects)

– “I’m ready to purchase – bring the application”

The challenge is to get from here…

…to here…

Lead Vendor Characteristics

• One size does not fit all

• Home Office / Corporate Perspective:– Economical – Viable (qualified)– Scalable

• Efficient lead vendor market

• Buyer Beware!

Lead Generation Methodology

• Suspects – no segmentation or qualification, typically just a list of people– Positives

• Virtually no cost• Plenty of volume• Rep control

– Negatives• Time and effort• Cold calling• “Needle in a haystack”• DNC

– Examples• White Pages• Anywho.com

Lead Generation Methodology

• Lists – some segmentation, typically just households with certain demographic characteristics– Positives

• Inexpensive• High volume• Targeted• DNC compliant

– Negatives• Dependent on phone skills• Prospect interest• Exclusivity• Cold calling

Lead Generation Methodology

• Surveyed “Leads” – typically product registrations, internet or direct mail sourced– Positives

• Inexpensive• Consumer-provided info

– Negatives• Timeliness of data• Respondent expectations• Financial services connection• The “Guarantee”

Lead Generation Methodology

• Web-based Leads – “internet surfers”– Positives

• Easy• Top of mind• Consumer interest• Geographic

– Negatives• Unpredictable volumes• Target market• Prices variations • Rate shopping• Competition/Exclusivity

Lead Generation Methodology

• Direct Mail (Demographic Segmentation) – basic targeting used– Positives

• High volume• Flexible messaging• Geographic flexibility• Pre-qualified, targeted households

– Negatives• Development costs• Resources required• Response rate risk• Increasing costs• Compliance

Lead Generation Methodology

• Direct Mail with Modeled Data – statistical analysis used for targeting– Positives

• High volume• Flexible messaging• Improved targeting & response• Much higher ROI• Customizable

– Negatives• Costs• Supplier scarcity• Time• Compliance

Lead Generation Methodology

• Pay-per-Response Lead (direct mail as opposed to SEO)– Positives

• Paying for results only• Immediate access• Targeting specific customer needs• Prospect expectations

– Negatives• Costs• Volumes• Still no guarantees• Exclusivity• Supplier scarcity

Lead Generation Methodology

• Pre-Screened Response– Positives

• Paying for results only• Added level of verification• Exclusivity• Prospect expectations

– Negatives• Pricing varies widely• Transparency of the process• Dialer time vs dials• Quality?• Still no guarantees

Lead Generation Methodology

• Pre-Set Appointments– Positives

• Less risk• Targeted to product/concept• Face time with prospect• Time

– Negatives• Costs• Volumes• Regulatory risks

Lead Generation Methodology

• Hybrids– Direct mail response driven to web site– Call center dialing of profiled lists– Pre-screening of internet-generated leads

• Other/Emerging– Mobile– Web 2.0– Pay-per-call– Worksite/Events

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The Lead Continuum

What to Look for in a Lead Program

• Easy to use– Simple to access– Concept is straightforward– Repeatable

• Functionality– Exclusivity– Lead delivery– Accurate tracking

• Value– ROI– Getting what you pay for – Track cost per sale, appointment, response, etc.

Resources

• Insurance Industry Forums

• “Rip-off” Report

• BBB– Ask agents to utilize the “complaint” features

• Field Agents

• Pilots (with measurable results)

Scott WheelerScott WheelerChoicePoint Precision Marketing

Travis SchraffenbergerTravis SchraffenbergerWestern & Southern Life

September 15, 2008

Bringing Home the Bacon!