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What information is provided with the annuity leads?
• Full Name• Address• Telephone Number• Caller ID Number (if different)
The leads are also asked a series of questions which are usually answered such as
• Year of Birth• E-mail Address• Are they looking for income now or later?• Do they own an annuity already or are they a first time buyer?• What is their time frame on making a decision• What is the best time for an annuity specialist to reach them
The leads are also asked if they work as a licensed financial advisor or insurance agent.
How do you scrub the radio, tv and direct mail annuity leads?
Our leads call in and speak to our call center where they are asked 11 qualifying questions and told an annuity specialist will contact them. The only optional question is their email address.
Next, one of our 3 assistants will re-listen to the call and spend 25-30 minutes scrubbing it. When auditing the call we make sure the call center asked all relevant questions, take notes to improve on the lead data and visit 15 websites to scrub out any financial advisors, agents or fee-only planners who call.
35-50% of our annuity calls become leads. The other 50-65% are scrubbed out because they work in the business, are over age 85, do not want to answer our questions or they object to an annuity specialist calling them.
Why are your online generated annuity leads qualified?
The internet has the potential to create great annuity leads if the campaigns are set up properly.
Most educated & tech savvy boomers/seniors will look online before buying a financial product. Therefore, online can be a great place to market because you are reaching them closer to making a decision (end of the buying cycle).
We market to boomers and seniors who are directly searching for information on annuities or are on high quality websites and see advertisements on annuities.
After clicking on the ad, leads are taken to a website where they need to complete a 10 question online form to become a lead. Before the lead is processed one of our assistants will spend 20-30 minutes scrubbing the lead.
How do you scrub the online annuity leads?
We spend between 20-30 minutes scrubbing each online lead. First, we are going to call the phone number and make sure its not disconnected. Next, we put the phone number thru a database that we subscribe to.
Our goal is to identify the bad leads immediately so they don’t waste your time. After all someone has to do this work. Since we are providing a service for the industry we feel we should throughly scrub the leads to help our clients save time.
When scrubbing the leads we are looking for bad data. Is the information on the lead form correct? For example, does the name assigned to the phone number match the name on the lead form? If not, we phone verify the lead.
We also scrub the online leads to make sure they are not advisors or insurance agents. We perform advisor searches on both the husband and wife because a male agent can supply his wife’s information on the lead form.
How do you scrub the annuity leads to make sure they are not insurance agents or advisors?
Here are 8 of the 17 steps in our processWe google the leads name and zip codeWe google the leads email addressWe google the leads phone numberWe visit the department of insurance for that state and do a searchWe visit FINRA and do a agent locatorWe visit the SEC IARD site to try to locate fee-only planners.We go to linkedin and do a member search around the leads zip code.
Finally, we repeat the entire process for the SPOUSE of the lead if the lead came from the web. We do this because agents and advisors online often hide behind their spouse’s name. They don’t hide from us 
. Call center leads can not fake their gender. If a man calls in and leaves his wife’s info….he is probably lying so we look up his name and scrub it.
We do this process for all of our annuity leads regardless of source. Our call center asks callers if they work as a financial advisor or insurance agent. We have found that advisors/agents lie 50% of the time when asked this question….so we scrub.
Why do all of this work? Because our clients love it. If we sell leads that lie about working in the industry our clients might spend weeks following up with the lead. This is prevented by us doing a great job on the front end.
What is the average case size?
This varies based on the client and region. Our best guess is that the average case size is $250,000. 40-45% of our annuity leads have already purchased an annuity.
What is the average conversion rates for the annuity leads?
Conversion varies by client and is broken down into a few categoriesSuperstars close 1/3 to 1/4 leads.Average producers close 1/10 to 1/12 leadsBelow average producers close 1/15 to 1/20.GA Case Study – One of our clients in GA received 32 leads from us in 2014. He was new to working leads and paid some tuition as he only covered 1 of them. The case was $350,000.Even he made 5X his investment.
Because clients use a variety of methods following up with the leads its hard to give an exact figure as to the ratios. Sales ability, region, size of city, and old fashioned hard work affect the results.
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