Transcription
So, in this video, I'm going to answer one of the biggest problems insurance agents face—one that prevents them from making money or sales: having a terrible contact rate. In this video, I'll share a time when I had a really, really low contact rate, what happened, and the three things I did to fix it and achieve a high contact rate.
If you're selling anything over the phone and people aren't picking up, or if your contact rate is less than 10% on your leads, that's terrible. It means you need to make some changes. If you don't, you'll likely make hundreds and hundreds of calls without getting anyone to pick up. The problem isn't calling more people; it's fixing your systems and controllable factors.
First, I want to share a time I experienced this. When we first started, about three months in, we were doing outbound calls, using Facebook leads. Suddenly, something changed. Our contact rate dropped from 50 a day to 20, then 15. We were scared; we had no other lead sources. After investigating, I found that our lead card information was being shared; many people used the same ads. People filling out Facebook forms were directed to multiple forms, getting flooded with calls. They silenced or turned off their phones, refusing to speak to anyone. The leads you generate are really important.
So, here are the three things we did to increase our contact rate. First, ensure you have the fastest speed-to-lead. At our agency, we had a 15- to 20-minute average. That's too late! Harvard studies show a >300% contact rate if you call within two minutes. Alex Hormozi posted a video about quadrupling sales by fixing speed-to-lead. Call leads within two minutes, or even 60 seconds. We built a system to call leads and connect agents within 60 seconds, increasing contact rates. Controlling speed-to-lead is crucial for fixing your contact rate.
Second, ensure your number isn't flagged as spam. We switched from outbound dialing with a regular number to branded calling. Spam blocker companies let you display your name. I got higher contact rates calling from my cell phone. Miss Betty sees a call from "Peter Roberts" and is more likely to answer than an unknown number. This is relevant; people don't like ignoring known contacts. Adding branding was super impactful. Local presence is also important, though more expensive. It calls from a local number, increasing contact rates.
Third, contact rate depends on lead quality. Expect a 5-10% contact rate with old, shared, or recycled leads. If you have no control over lead quality, you don't know what's on landing pages or creative content. If you're having contact problems, learn marketing skills. Switch lead vendors or learn to run Facebook or TikTok ads. Many lead vendors don't care about your return; they want repeat purchases. They aren't incentivized to help you make money, only to maximize their margin. Learn marketing or test multiple lead vendors. Smaller, lesser-known vendors prioritize quality. They need your testimonials. Large vendors don't need you.
Lastly, don't pay thousands for training; learn it for free on YouTube. Free resources are available. You need money to run ads—at least $100-$200/day. This will improve your contact rate and help you make more money. Let's crush it!