If you’re in sales and enjoy movies as much as I do, then you are probably familiar with the movie Glengarry Glenn Ross. For those of you unfamiliar with the movie, it’s about four struggling Chicago salesmen trying to get the best real estate leads from their company. The problem is they are focusing too much on obtaining new leads instead of managing the leads they have.

Obtaining online leads is an important marketing tool for agents to grow their business, but managing the leads once you’ve got them is even more critical to an agent’s success. As you are aware, the Internet has changed the way consumers shop for insurance. By some estimates, more than 70% of people shop for insurance online – and the majority of these consumers want to purchase their policy from a local insurance agent like you. So how do you manage all those internet leads? A Lead Management System is a great solution.

I know one industry expert who told me that by her estimates, each full filing cabinet will cost an agency $25,000. This includes not only the cost of the cabinet and supplies, but the salary of the person monitoring it, and the time it takes to do so. Therefore, as an agency owner, you must free up the time it takes your staff to follow up with your prospects.

A Lead Management System is the fastest, most accurate and cost-effective way to manage your leads. Here are just some of the advantages of using a Lead Management System:

Speed:
Lead Management Systems allow you to reach all of your prospects via email at the push of a button. This will increase the efficiency of your team and allow for more sales.

Advanced Tracking:
Find out what’s working for you and what isn’t. Many Lead Management Systems will provide detailed reports that will allow you to view not only what prospects sources are generating favorable ROI numbers for you, but which sales reps are producing the best results. Some Lead Management Systems will also provide data on how long it takes your team to open an email and the number of times a prospect was contacted.

Advanced Follow Up:
Many Lead Management Systems can automatically send system-generated emails to consumers who have not purchased a policy yet and even send automated emails to existing consumers for new products. Remember, an existing consumer is still a Lead.

This really is the tip of the iceberg, and the good news is that you probably already have access to many of these tools. Most carriers (Captive or Independent) offer some Lead Management functionality to their agents. Talk to your carrier about all of the options available to you.

The demographic that made the Internet so popular in the 90’s is now the fastest growing group of insurance consumers. You need to adapt to this, and take advantage of all the technology available to you. And make sure you remember the ABCs from Glengarry Glen Ross: Always Be Closing.

If you don’t have a Lead Management System available to you or are looking for a more robust system, there are third party vendors that can provide additional help and support. Please feel free to contact our Client Services Team at 866-892-4080 with what you’re looking for, and we would be delighted to point you in the right direction.