Life Insurance Live Transfer Leads

The business of selling life insurance will always be viable as long as there are people living in this world. If you are in the life insurance industry, it will be very difficult to run out of prospects. Just imagine, there are billions of people around! Surely, there will always be someone right around the corner who is willing and ready to buy your products.

But then, it’s not always as easy as it looks. If you want to make sure that your life insurance business has a steady stream of revenue, you need to take an aggressive stance in finding clients. You can’t just wait for them to walk in your door. Fortunately, there are several proven methods for generating business leads, or prospects, for life insurance products. One of these is through the use of live transfer leads. That is exactly what we are going to talk about today.

What Are Live Transfer Leads?

A live transfer happens when there is an ongoing call between a lead and a call center agent, then the agent transfers the call to a sales representative who can then talk further to the lead and entice them into making a purchase.

In the business of life insurance, live transfer leads are acquired by first seeking out individuals who might already have a need or an active interest in life insurance products. These can be people who have searched for information about life insurance or have made inquiries that are related to life insurance. Even better, these are the individuals who have made a call themselves to specifically ask about the insurance products and are already on the phone with a call center agent.

Once the agent is able to verify the lead’s interest, they can then be handed over to the sales team who can give them more information and eventually close the deal.

What Are Warm Transfers and Cold Transfers?

Aside from live transfers, you might also have heard about warm transfers and cold transfers. Both of these transfers have their specific uses and applications. In order to boost your chances of making a sale, you need to choose which one to use.

In a warm transfer, the agent that takes the call will talk to the lead and provide them with general information, perhaps answering their basic questions and giving them an overall idea of what the insurance product is all about. In other words, the agent warms up the lead before transferring the call to the sales team. Also, before making the transfer to the sales rep, the first agent will also provide the sales team with some information about the caller for context.

In a cold transfer, there are no conversations between the lead and the agent that takes the call. All they do is immediately transfer the call to the representative. This is not really ideal but there are times when cold transfers are the best option. For instance, if the agent that takes the call does not have much expertise in the particular life insurance plan that the caller is interested in, it is better to transfer them to a more informed agent than give them inaccurate information.

How Do Live Transfer Leads Help You Sell Life Insurance?

The way that live transfers work to help boost sales of life insurance plans is really quite straightforward. There are three basic stages involved in the process.

The first stage is the initiation of the call between the lead and the call center agent. Either party could begin the call. The lead might call up a hotline looking for general or specific information on life insurance. Alternatively, the call center agents can call pre-qualified leads that might have sent their contact details through online forms or some other means.

The second stage is the conversation between the lead and the call center agent. During this brief conversation, the agent will be able to qualify the lead and determine whether they are ready to make a purchase at the moment or they need more time to warm up to the product.

The third stage is the transfer of qualified leads to the sales team. If the first agent is able to confirm the lead’s interest in the life insurance product in question, they can then make the live transfer to one of the insurance agents in the sales team who can wrap up the sale and close the deal.

How Can You Get High Quality Life Insurance Live Transfer Leads?

There is no question as to whether the high success rate of live transfer leads to the improvement of life insurance sales. However, in order for this method to work, it is vital that you get your leads from a trusted source to ensure that they are of the highest quality. So how can you be sure that the leads you get will be of any value? The following requirements have to be met.

Legal Compliance

It might not be widely talked about but there are actually several laws that regulate the telemarketing industry. If you are planning to use live transfer feeds as part of your business sales and marketing strategy, you must do so within legal bounds. These regulations are clearly specified by the Telephone Consumer Protection Act or TCPA, the Do Not Call Registry, the Telemarketing Sales Rule or TSR, and a few others.

Basically speaking, these laws limit the manner, the time and even the people that you can call. If you do not comply with the restrictions, there might be serious implications for your business, such as lawsuits and heavy fines.

Trained Call Center Agents

All the agents that handle your sales and marketing calls should have received sufficient training in order to maximize conversion from your leads. Over-scripting, for instance, is a very common problem that can turn off potential customers who might otherwise have been already willing to buy. Agents should also be made familiar with the various scenarios and questions that can come up during the call, and be prepared to handle all of these accordingly.

If you are targeting the senior demographic for your life insurance products, it can be common to encounter callers with issues like dementia or hardness of hearing. Your call center agents should be properly trained in handling these prospects with respect and complete professionalism if you wish to make a sale.

Strict Qualification

Before making a transfer, the leads must pass strict qualification standards. Only leads that are of high quality and legally compliant must be passed on to the sales team. Otherwise, it will just be a waste of time and effort for your sales reps to try and convert a cold lead. It might even irk the caller enough to file a legal complaint against your business.

Positive Attitude

At the end of the day, your goal is to make a sale. The way to do this is by positively engaging your prospects through calls that begin with a professional but friendly tone. If your call center agents are too robotic or too corporate, and on the other side of the spectrum, too casual or too laidback, then you won’t be able to get too many live transfer leads that are ready for conversion.

Reasons Why Live Transfer Leads Are Preferred over other Kinds of Leads

Business leads come in many kinds and all of these kinds can really be helpful in increasing a company’s sales. When it comes to life insurance live transfer leads are strongly preferred because of several great reasons.

Better Cost per Acquisition

The cost per acquisition or CPA is computed by dividing the amount of your entire marketing spending by your total sales. The lower your CPA, the better it is for your business because it is an indication that you are in complete control of your budget.

Obviously, you will have to spend some money if you decide to purchase live transfer leads from a provider. But this is going to be money well spent. The leads you will get will be prospects that are ready to buy. They are exclusive so there will be no competition with other life insurance agents. And because they are already on the call, they are surely ready to listen to what you have to say, thus you won’t have to spend a lot of time warming them up. In short, the cost per acquisition is really very good.

Higher Conversion Rates

All business leads have the potential of becoming a sale and with live transfers, this potential is so much higher. The faster you get to a prospect, the more likely they will want to choose you over other vendors. As a matter of fact, studies show that if you are able to address interested customers within 5 minutes, the odds that they will buy from you are 21 times higher than if you wait for 30 minutes or more before responding to their call.

With live transfers, there is very little waiting time. Your agents will be able to get on the line with prospects very shortly after the call has started. Thus, the conversion rates are certainly much higher, which is exactly what you want so that you can grow your business.

FAQ about Live Transfer Leads

What are live transfer leads?

Live transfer leads are prospects that already have an interest in a product and have made a call to make an inquiry. The call center agent transfers these calls to the call buyer who can then proceed with the conversation with the prospect.

Why are live transfers desirable for your insurance business?

Live transfers allow you to get into contact with potential customers at a time when their interest in your products is at a peak. They are actively making inquiries about insurance and so are more likely to make a purchase at this time.

How do live transfers work?

When the call center representative gets the call, they will qualify it to determine whether the prospect is already ready to buy. Qualified leads are then handed over to call buyers who can eventually complete the sale.

Are live transfers effective for increasing life insurance sales?

Studies show that live transfers are among the most effective leads to use in selling life insurance. They have higher conversion rates and a better cost per acquisition compared with many other types of leads.

How much do insurance leads cost?

Buying any kind of business lead comes at a price but when it comes to insurance leads, the cost per acquisition is quite desirable. On average, a lead will cost anywhere from 10 to 20 dollars, but the exact amount will depend on the provider.

Are there ways to get quality insurance leads for free?

If you want to get your leads without spending a lot of money, you will want to make a huge effort in developing your social media presence, building a website with excellent content, getting customer referrals, and so on. These methods are good but they will take a long time to generate the number of leads that you might need.

Final Thoughts

The best time to connect with potential life insurance buyers is at the moment that they are most interested. Because of this, there is no question that live transfers are the way to go. By investing in high quality live transfer leads, you can considerably increase your insurance sales with minimal effort and at a very reasonable cost.

Here at MasterMCA, we provide top quality live transfer leads that will feed your funnel and that will definitely help you grow your business. Just give us a call and we will immediately schedule you for a free consultation so that we can discuss your business goals and requirements.