By now you’re probably familiar with the term “Search leads” and “Non-search leads”; maybe you’re even taking some on yourself. But at the end of the day, do you really know what these terms mean? What separates “Search” from “Non-search”? How do they compare as far as performance? Why are they more expensive? How many licks does it take to get to the center of a Tootsie Pop?? We know. These are the questions that keep you up at night, which is why we’ve put together this resource to provide you with answers.* You’re welcome.
Put simply, a “Search lead” is a lead that is generated from just that — a search. Consider this: Person A is scrolling through Instagram one morning and comes across an ad for QuoteWizard. They think “Huh, I wonder if I have the best price/coverage for my car insurance...,” so they click on the ad and fill out an online inquiry to see what else is out there. Person B just bought a new car and needs insurance. They want to explore multiple options, so they go to Google, input a search for “compare auto insurance quotes”, find QuoteWizard’s site and fill out an online inquiry. Now, which shopper do you think is more likely to answer your call and obtain a quote? Which lead do you think is more likely to close? If you said Person B, you are absolutely right. Person A (AKA the standard internet lead you all know and love) is still a strong lead, but there’s no question that Person B’s intent on finding coverage is significantly higher.
The fact that they are actively searching for quotes typically translates to higher chances of contact, better quote rates, and greater conversion rates. Compared to a typical web lead, the closing rate on Search leads has been proven to exceed that of standard industry leads by 400%! Through advanced, state-of-the-art technology, QuoteWizard is able to separate out these searching shoppers from the non-search shoppers, making it easier than ever for agencies to connect with consumers ready to buy. We continue to bring in these high-intent shoppers by maintaining a healthy financial relationship with popular search engine companies, making sure that QuoteWizard is continually in the top recommended sites for comparing quotes. This brings us to the next most commonly asked question: why are Search leads so expensive?
If you’ve ever taken a look at our leads pricing sheet, you’ve probably noticed that Search leads come at a considerably higher price. You may chalk this up to greedy lead generation companies jacking up pricing on a higher-tiered product (“Yarg! You want better closing rates, yar gonna have to pay for it, Matey!”), but we promise you this isn’t the case. Go to Google right now and type in “[Your City] auto insurance rates”. Why is it that you’ll never see results for local insurance agents? Answer: Money. Google processes nearly 3.5 billion searches per day, but how often do you go to page 2 of your search results? Being on the front page is crucial to gain traffic, so search engine sites kindly reserve the front page for the companies willing to pay the highest price. We’re talking millions of dollars a month. Plain and simple — the higher cost that comes with obtaining these high-conversion leads means a higher price tag on the product. But, rest assured, we wouldn’t continue sourcing them if they weren’t worth the price to our agents!
The impressive conversion rates on these Search leads proves one thing: they work — so we intend to keep generating them. While Search leads tend to naturally close at a higher frequency than standard leads, your sales cycle process should still remain consistent. The same aggressive speed-to-contact attitude, number of touches per day/week, and follow up routine still applies. Check out our 7 Rules for Closing Online Insurance Leads resource for tips on maximizing the value of your purchased leads!
* Tootsie Pop study still under review.