Hey, good morning! Rich here with Summit Life Group. Are you looking to improve the ROI on the leads you’re purchasing for your life insurance business? In this video, I’m going to share four reasons why your ROI might not be as high as it should be.
Reason 1: The Leads
The first reason is the one most agents tend to focus on—the leads themselves. While it’s easy to blame the leads, it’s important to mention that lead quality and cost do play a role. If you’re paying $30 for a lead that’s only worth $10, of course that’s going to affect your ROI. So, yes, we need to acknowledge that sometimes it can be about the leads: the quality, the price, and what you’re getting for your investment.
That said, many agents tend to put all the emphasis on the leads, which can be misleading. But before I move on to the more important factors, I do want to acknowledge that the leads you’re purchasing can be a factor.
Reason 2: Your Skill Level
Now, this is a much bigger factor: your skill level. Quite frankly, maybe you’re just not very good yet—and I don’t mean that in a negative way. When I started, I wasn’t good either. My ROI was much lower than it is today, and that’s because I had to learn and improve.
The most successful agents I’ve worked with always put more emphasis on their own skills than on the leads. Great agents will get through rough patches with leads by constantly improving their approach. They listen to their calls, evaluate what they could have done differently, and focus on their development. On the flip side, agents who don’t last often put all the blame on the leads. I call this “lead victimitis,” where they become victims to the quality of the leads and ignore their own skills.
Reason 3: Work Ethic
Are you working your leads enough? Some agents who are very skilled fail to work the leads properly. You need to put in the time—are you following up more than once? Do you only make one call? You have to put in the effort to work the leads multiple times to get results. Even if you’re highly skilled, you won’t see a return if you’re not properly working the leads.
Reason 4: Time
The last reason agents often overlook is time. Measuring your ROI over too short a period is one of the biggest mistakes. If you invest in a new lead campaign, you shouldn’t be evaluating your ROI after just one week—or even one month. The sales cycle takes time, and you won’t see the full ROI until you’ve had time to properly work those leads.
For example, you might close a sale a few weeks or even a month later from the same batch of leads. It’s important to measure your ROI over a rolling 60-day period. This will give you a more accurate picture of your return, and most agents find their ROI looks much better when measured over a longer time frame.
Consistency Is Key
Another crucial tip is to stay consistent with your lead sources. Agents often switch from one lead source to another too quickly, which makes it hard to track true ROI. The most successful agents find a lead source that works, stick with it, and measure their results over the long term. Consistency allows you to properly assess and optimize your results.
Conclusion:
To recap, here are the four reasons your ROI might not be as high as it should be:
- The Leads – Quality and price matter, but don’t lean on this too much.
- Skill Level – Focus on getting better and improving your sales technique.
- Work Ethic – Are you working the leads enough? Follow up multiple times.
- Time – Measure your ROI over a longer period, like 60 days, for a clearer picture.
If you focus on these four areas, you can improve your ROI. At Summit Life Group, we help independent life insurance agents across the country with various lead programs, whether you’re purchasing your own leads or looking for a free lead platform. If you’re considering a career change or looking for a new agency to partner with, fill out the link below to learn more about us.
Make it a great day!
Join us: https://slgteam.com