Never have to test a final expense lead source again
We test all our final expense leads internally before bringing them into the Digital Senior Benefits platform.
Our mix is around 50% media buying, 30% Facebook and 20% search engines. We’ll explain each different type of lead below.
We currently charge $11 for these leads.
The price may go up/down based on our cost to generate and distribute them, but $11 is our target price per lead. We deliver all leads into our platform.
The mix of leads is important to maintain a low price/high quality lead with consistency.
We also have a 3rd party relationship for live transfers for $25/ea where all the information from the live transfer posts directly into our platform once a transfer is made. Read more about these live transfers below.
In this summary of our final expense leads we’ll cover:
- Why Our Final Expense Leads Are Different
- Types of Final Expense Internet Leads (Media, Facebook, Search Engine, Live Transfers)
- Expected ROI
Why our final expense internet leads are different
Reason #1: We generate these leads internally.
This is critical because we’re always optimizing for quality.
With our platform, we track every sale to the lead source and adjust our campaigns accordingly.
This is very powerful and will only make our lead results better over time.
You also have certainty a quality lead source will always be there. Since we generate different types of leads - we’re not dependent on a single lead source. For example, if Facebook changes the amount of data available to target or removes some important features we use that hurts pricing or quality, we’re well diversified and can focus on another source.
We estimate less than 5% of IMO/BGA’s in the nation control their own internet lead source. It takes a team with an understanding of not only internet marketing but also a deep understanding of the life insurance space and direct response selling.
Reason #2: We sell leads at our cost to generate and deliver them to you.
For full transparency. We generate some leads for $8 and other leads for $13. Our aggregate cost is around $10 per lead.
We factor in a buffer of $1 per lead. I know what you’re thinking - “I thought you sold these at cost”. It’s our cost to deliver them to you as well.
Here’s why. We have leads we generate go unsold every day. On the backend, we have to balance our ad campaigns to lead orders our agents have - factoring the states they want leads in AND the max amount they’ll take per day. It’s no small task and we always have excess leads that go unsold to make sure everyone gets their daily lead fill.
On top of that, we also have the cost of software to help us manage these big ad spends and the lead distribution software to distribute them daily based on agents state availability and how many they want per day.
Furthermore, the human power that goes behind managing these campaigns and distributions is costly.
We hope that makes sense and just want to be upfront with everything.
Most of our competition uses 3rd party vendors who need to make a profit on their leads which is why you typically see leads being sold for $20-$30/ea.
We make our profit on the business you write with us. We have a vested interest to make sure these leads are high quality and as inexpensive as possible.
Reason #3: Leads are delivered within seconds of a completed form.
If you’re in the CRM and a new lead appears, they’ll likely still be on the website. Or at least still online with burial insurance on their mind.
Speed to contact is VERY important and our system gets them into our platform (or your email) within seconds.
Reason #4: All leads are exclusive to you.
This means no one else will receive that lead.
We understand there are organizations out there that re-sell their exclusive leads as “B” leads. We don’t do that.
The leads you receive are yours for life. On our platform you can export your leads at any time.
Reason #5: All of our ads and landing pages clearly say “burial insurance”.
This has been a driver in increasing quality after you get someone on the phone.
Here’s a poor example of misleading copy that lead vendors will use to increase profits:
As of January 1, the Federal Government has not changed the government death benefit. You are entitled to receive no-cost information on a state-regulated program to pay for 100% of all funeral and other expenses up to $35,000. This cash payment is tax free
We found that using wording like this on our ads and not using any insurance language got us a much lower price per lead, but many prospects were looking for free coverage. Notice how insurance isn’t mentioned once?
On all of the leads we generate, we use the terminology “burial insurance” on our ad copy. Here's a sample ad where burial insurance is mentioned 3 times.
We use the word "burial insurance" on the landing page (where they fill their information out) as well. Notice how burial insurance is mentioned at least 4 times:
It’s crystal clear these are burial insurance plans they’re inquiring about and we’re getting a better quality lead using this terminology.
Reason #6: We provide the website the prospect filled out a form on.
This is an edge that you don’t get from 3rd party lead vendors.
“Hi Mr. Prospect, I’m calling regarding the request YOU made on iburialinsurance.com”
There’s a lot of power in that opening statement when your calling from the website they actually completed the form on. It’s an immediate rapport-builder because of the familiarity of the website name when you’re calling.
Reason #7: An immediate email is sent to your prospect, from you!
When a lead hits our platform, an immediate email is sent.
Even when you're busy doing other things, our platform will send an email from you and all replies will go to your personal email.
After you make an unsuccessful first attempt, a text is sent as well. This happens automatically if you’re using the Digital Senior Benefits platform.
This results in inbound calls and replies to these emails and texts.
The email replies go to your own email inbox. The text replies, you can handle in the Digital Senior Benefits platform.
Reason #8: Leads are delivered directly into the Digital Senior Benefits CRM
There is no manual entry. All of our internet leads are posted in the Digital Senior Benefits platform immediately. They’ll be at the top of your call queue ready for you to click to call.
Even our 3rd party live transfers will have all the information posted into our platform the moment you receive the transfer. It will appear at the top of your call queue as a “New Lead” as well.
Reason #9: Lead buying and distribution made easy
You order your leads within our platform. You choose which states you want them in and the max you’ll take per day.
On your dashboard, you’ll see how many leads are left on your order in real-time so you always know where you stand and when you need to order more leads.
Reason #10: Lead bonus program
If you issue 5 apps in a week (1 per day), you qualify for a bonus of leads delivered the following week.
This is on top of our 115%-125% contract levels. Making our contract levels effectively much bigger for full-time, consistently producing agents.
Schedule a call with us for more information on this program.
Reason #11: Thank you page
The thank you page is what a prospect sees after they complete a lead form. It’s a great way to let prospects know what happens next and is totally underused in this industry.
If you’re buying internet leads from a 3rd party lead vendor, the thank you page will likely display ads because if the lead clicks on an ad, the lead vendor gets paid. It would look something like this:
This is a terrible experience for your lead and makes them think they have to click on another ad to get quotes (and many do).
We don’t use any ads like the above on our thank you pages.
We deliver instant quotes from final expense telesales carriers. We don't display any of the "price-buster" companies with low rates in case they don't qualify...or if they do qualify, you can show them something less expensive than what they saw online.
We also let the lead know the next steps. Specifically that a licensed field underwriter will be calling them soon. Here’s an example of what we show:
As you can see, we're very intentional about how we market for final expense life insurance. We compare all sales data to the lead source and campaigns we're generating them from and optimize daily.
Types of Final Expense Leads Available
As we mentioned at the beginning of this article, we generate leads through display media, Facebook, search engine and strategic partnerships. We’ll describe each one of these leads below.
Media leads represent around half of our leads. Based on our data in the platform, it’s very high performing on both contact percentages and sales.
Media buying allows us to laser target the final expense demographic and display ads to them on websites that they visit. The ads take them to our landing pages like the one shown above. Those who don't turn into a lead from these campaigns, get re-targeted around the web until they do. By then they've seen our brand in front of them over days and weeks and have developed a trust.
We don’t want to go into too much detail as this type of advertising is virtually untapped by the rest of the final expense telesales world.
Facebook Final Expense Leads
Seniors are the fastest growing segment on Facebook and Facebook is a great place to generate quality leads, if done right.
Seniors simply see an ad in their news feed on their desktop or mobile, click on it and go to a landing page (similar to the images above) to fill out a form.
Search Engine Leads
Search engine leads are very high performing leads, but they’re the hardest to scale. If we could do 100% search engine leads, we would.
These are seniors actively searching in Google (or other search engines) for information on burial insurance. They’re in the buying mindset and just need more information.
They visit a website, read an article and decide to fill out a form to see burial insurance rates.
$25 Live Transfer Leads
We have a partnership with a well established lead company that provides live transfers for burial insurance with a 60 second buffer - meaning if the call lasts less than 60 seconds, you aren’t charged.
These live transfers are interested in speaking with a licensed agent about burial insurance.
We have it setup so when you accept a live transfer, all the contacts information will populate in the Digital Senior Benefits CRM so it’s a seamless, beautiful process.
There are no setup fees or costs to use the live transfer software. You simply login and make yourself available to take transfers.
Expected ROI on Our Leads
ROI is always dependent on the agent.
You can expect to sell 3%-9% of your leads depending on how well you work our system and well you sell over the phone.
Agents calling their leads quickly and clearing out their automated call queue daily will have a higher contact ratio of leads which of course gives them more selling opportunities.
Agents who have experience with final expense telesales or at least 50 full final expense presentations will sell a higher percentage of the leads they contact.
With all that said, agents tend to issue 3% of their leads with no experience, meaning you’ll write 4 applications out of 100 leads and 3 will issue. Agents 60+ days of working leads trend toward 6%-9%.
At the time of writing this, our leads are $11. Average premium is $820.
If you issue 3 apps out of 100 (3%), that’s $2460 in annual premium off of a $1100 spend.
If you issue 9 apps out of 100 (9%), that’s $7380 in annual premium off of a $1100 spend.
Agents will issue 3%-9% of the leads on our platform.
The agents who work our system - meaning work our platform’s call queue daily (higher contact percentage) and follow our final expense call training (close more of those contacts) will start at a minimum of 3% app out.
The good news is, at 3%, you’re already profitable!
Once you learn to build better rapport with final expense prospects, exercise call control, learn your products and generally get more confident, you’ll increase your app out percentage.
And what’s really exciting is our platform allows a full-time agent to work 600+ leads/mo and stay on top of all of their leads.