Agents Marketers

Insurance Agency Lead Scoring

Their lead scoring scheme has not yet been formalized by many insurance organizations. This is a worthwhile undertaking for all organizations, and one that should be reviewed annually while monitoring their marketing programs ‘ return on investment.

What is scoring for lead? It is a methodology for ranking opportunities against a scale and then assigning a value to determine the amount of concern and distribution. For instance, let’s say your organization receives a trucking insurance lead appointment. This lead is with a 15-unit proprietor, they use business drivers, and their carrier is dissatisfied. Maybe your lead scoring scheme will fall on a scale of 1 to 10, and that lead will be scored an 8. What could get a greater score? And what kinds of leads are beyond the profile, and what rating would they get? Maybe opportunities need to score an 8 to appear on the scorecards of your producer.

Is the lead distributed by land to manufacturers? Does your method of managing lead differ by type of lead, product or outlook? For instance, are trade leads divided by sector or product by big and small businesses? Are advantage leads analyzed by organizations over and below 50? And does your organization have a monitoring system in place to determine how many leads the appointment showed, went into the pipeline, got citations, and eventually turned into fresh company?

Salesmen, sales executives, manufacturers and other company individuals often refer in vague terms to opportunities such as: fresh, warm, hot, cold, probable, skilled, etc. These terms do little to better understand a sales pipeline or provide other team members with the likelihood of buying. Agencies may consider setting up a easy prospect scorecard to address this problem and quantify their lead scoring. Formalizing lead scoring offers advantages like:

  • Helps Producers generate perfect characteristics to form a buyer persona
  • Create a easy numerical scheme to leverage your buyer persona
  • Create numerical values to rank your best prospects
  • Create a easy acronym to determine the probability of closing

What should be included in a prospect scorecard?

Use a prospect scorecard to quantify your pipeline construction strategy. Some of your perfect customer’s characteristics may include income, growth rate, type of customer (company or consumer) and niche market. Are you targeting companies with revenue from $5 m to $10 m, for instance? Are your best prospects fast growing companies, truckers, suppliers or customers?

Are they high net worth, middle-income, millennials or senior citizens if you sell to customers? Are your prospects in a particular niche market like banking, insurance, biotech, consulting, education, etc.? Create a scorecard with your perfect characteristics and a tailored abbreviation of qualifications to assist you determine if you sell to a prospect in profile.

Insurance organizations and brokers wishing to reach the next level with their insurance marketing and lead generation, but lacking the inner resources to accomplish their marketing objectives, can reach a competent marketing agency insurance company.

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