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 Insurance Agency Lead Scoring
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Insurance Agency Lead Scoring
Many insurance agencies have not yet formalized their lead scoring system. This is a worthwhile endeavor for all agencies and should be revisited annually while monitoring the ROI of their marketing programs.
What is Lead Scoring? It’s a methodology used to rank prospects on a scale and then assign value to determine the interest rate and distribution. For example, let’s say an appointment for a trucking insurance lead comes into your agency. This lead has 15 powertrain owners, they use company drivers, and they are unhappy with their carrier. Maybe your lead scoring system falls on a scale of 110 and this lead is rated an 8. What could get a higher score? And what types of leads are outside the profile and what score would they get? Prospects may need to score an 8 to appear on your producer scorecard.
Is lead allocated to manufacturers by territory? Does your lead handling process differ by type of lead, product or prospect? For example, are leads separated by large and small companies, industries or products? Are discount leads being screened by the over and under 50 age groups? And does your agency have a tracking system in place to determine how many leads showed up for a meeting, how many leads were followed through, offers received, and ultimately converted to new business?
Salespeople, sales managers, manufacturers, and other business people often refer to potential customers with vague terms such as: new, warm, hot, cold, likely, qualified, etc. These terms do not help you better understand the sales pipeline or inform the likelihood of a purchase. other team members. Agencies may consider creating a simple lead scorecard to address this issue and quantify the lead score. Formalizing a lead assessment offers benefits such as:

Helps manufacturers create ideal attributes to build buyer personas

Creates a simple number system to tap into your buyer persona

Assigns numerical values to rank your top prospects

Creates a simple qualification acronym to determine the probability of closing
What should be included in the prospect scorecard?
Use the Prospect Scorecard to measure your approach to pipeline building. Some of the attributes of your ideal customer might include revenue, growth rate, customer type (business or consumer), and market niche. For example, are you targeting companies with $5 million to $10 million in revenue? Are your top prospects highgrowth companies, trucking companies, manufacturers or consumers?
If you’re selling to consumers, are they highnetworth, middleincome, millennials, or seniors? Are your prospects in a specific niche market such as banking, insurance, biotech, consulting, education, etc.? Create a scorecard with your ideal attributes and custom qualification acronym to help you determine if you’re selling to the prospect within your profile.
Insurance agencies and brokers who want to take their insurance marketing and lead generation to the next level, but lack the internal resources to meet their marketing goals, can turn to a skilled insurance agency marketing company.
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