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How Aged Leads Can be More Beneficial Than Real-Time Leads?

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How Aged Leads Can be More Beneficial Than Real-Time Leads?

Insurance leads can cost as much as $30 for one lead – so, needless to say how important leads are. Insurance agents and brokers will do anything to get their hands on high-quality leads. As soon as a prospectshows interest in a product by filling up an online form, submits a survey or requests quotes on websites – it gets generated as a lead and reaches the agents.Leads give the agents some base to start with and carry the sales process further.

Real-Time Leads and Aged Leads

There are many lead generation companies who have their specific software which captures the information from prospects and forwards it to the particular agents. This process is totally through the internet and happens almost instantaneously. Leads generated like this are called real-time leads since they reach the agents as soon as the prospect shows interest. These leads are generally sold to more than one agent.

On the other hand, there are some leads which remain unsold – they are referred to as aged leads, meaning there is some time gap between the time the prospect filled the quote request form to the time it reached an agent.

Drawbacks of Real-Time Leads

It is obvious that real-time leads will produce more productive results – and they do to some extent. But there are certain negative aspects of using real-time leads as well.

Real-time leads are very expensive – even when you pay $8 per lead, you still get shared leads. You may get an exclusive lead by spending $25 but the exclusivity cannot be guaranteed. There is no surety that that no other agent will contact the lead or that the prospect will actually purchase the product. Since the demand for a real-time lead is so high, the lead becomes over-used. The prospect is contacted by too many agents which makes the conversion rates low and may even push the prospect towards not buying at all. Ultimately, the return on investment for these expensive real-time leads goes down.

The Alternative – Aged Leads

Aged leads may not be the most preferred but it sure is worth the money and effort to work with these.You can find aged leads for as low as $1 if you buy in bulk. True that you have to work harder to reach a sale with aged leads – but it will still give a higher ROI than real-time leads.

You will lose the advantage of having a real-time lead if you cannot contact the prospect immediately – this is not always possible given the fact that you are probably getting leads continuously from your lead generator. Eventually when you contact them, they are not real-time anymore anyways. Also, consider the fact that most of the real-time leads are not sure if they will actually buy. It will take a few more attempts to finally close the deal if at all it happens. Most agents also drop out from following up the real-time leads after the first few days and move on. There is a golden opportunity here for agents to strike at this moment – competition is less and the prospect has had a chance to thinkit over and in a better position to take a decision.

Agents do feel insecure about using aged leads because it just goes against the whole conventional pattern of selling insurance.The low cost of aged leads makes it worthwhile to take all that extra effort. Aged leads used with the help of an efficient system can produce closures just like real-time leads at a much low expense.