The Lead Conversion Process

1. The Lead Conversion Process Presented by: Philip Sperber

2. The Lead Conversion Process Step by Step • General Statistics • Process Overview • Lead Assignment • Initial Quoting Process • First Set of Calls • Second Set of Calls • Last Call • Making Contact • 5 Step Sales Process • Outcome • Follow Up • Process Management

3. General Statistics • Currently utilizing leads from 4 to 5 different lead sources • This allows for a good mix of leads • Leads are from telemarketing companies in addition to internet • Provides a consistent flow of new leads • Prevents “all eggs in one basket” syndrome • Still easy to manage • 2 licensed staff work an average of 165 new leads each month • One Sales Associate working an average of 125 per month • One Service associate working an average of 40 per month • Agency has averaged 60 new items each month since January 2007 • This is close to 36% items sold per leads purchased

4. Process Overview From the point of lead assignment, our agency process has 10 steps including: • Quoting • 1 mail attempt • 1 e-mail attempt • 6 call attempts • X-date or 6 month follow-up Each of the 10 steps is tracked by the staff member assigned to the lead • Excel spreadsheet tracks the date that each step of the process is completed • Spreadsheets are located on the “public drive” of my office for easy access • Spreadsheets can be easily changed to track other desired information

5. Lead Assignment The leads are emailed directly to me, I then assign the lead to a producer according to the following: • Staff member’s job description • Current work load

6. Initial Quoting Process Input customer’s information from the lead sheet. • If not stated, we assume 1 year prior at state minimum liability • If not stated, we assume clean driving record • We use the more “expensive” car models • We use an IS score of 4 for the initial quote • We quote the “GOLD” package initially, but process would work well to quote “PLATIMUM” first • We then quote property using the information provided combined with county assessor • Our auto quote includes the property discount and vise versa – our conversations will be about both policies • We quote the liability limit requested on the lead sheet • We recommend at least 100/300 for homeowners

7. Initial Quoting Process (cont.) • Before closing the quote, attempt to call the prospect • See first contact • Print two copies of each quote • One copy gets mailed to the prospect if not contacted by phone • The other copy is stapled to the lead sheet for reference • Email the quote if possible

8. First Set of Calls Three call attempts within 3 days for the first contact • First call attempt • Made right away with quote still open in Alliance • Leave a message if no contact • Second call attempt • Often same day if the first attempt early in the day • Second day if needed • Leave message • Third call attempt • On third day • Leave message • The date of all call attempts is logged on Lead Tracking spreadsheet • Any conversation notes are logged directly on the lead sheet / quote copy

9. Second Set of Calls • Typically take one day off between first set of calls and the second set of calls • Two call attempts over two days • Fourth call attempt • On fifth day • Leave message • Fifth call attempt • On sixth day • Message optional

10. Last Call • Typically take one day off between second set of calls and the last call • One call attempt • Sixth call attempt • On eighth day • Leave “take-away” message

11. Making Contact • Insurance theory of relativity • S=D+C+Q • Sales = Dials + Contacts + Quotes • My Sales Associate focuses on one step at a time • 20-30 Dials each day will produce • 10-15 Contacts each day which will produce • 5-7 finalized Quotes each day, which will produce • 1-3 items Sold each day

12. Five Step Sales Process #1 • Establish Rapport • Always professional and courteous – we position ourselves as insurance professionals, not telemarketers • Use active listening • What has you shopping for insurance today? • What are you looking for in your next insurance company? • Use answers to tailor sales presentation and “hook” • Establish agreements – “me too”

13. Five Step Sales Process #2 Arouse curiosity / establish need • Focus on value first! • Coverage review • Your Choice Auto features • Your Choice Home features • Agency advantage • 24 hour customer service • Claims service • Compare initial quoted price • Additional fact finding • Gather information / permission to run reports • Complete PQB • We often call back with the completed quote for both auto and property

14. Five Step Sales Process #3 Present options • Maintain focus on value first • Link features to benefits • Use tie-downs

15. Five Step Sales Process #4 Ask for action • Closing techniques: • Direct proposition • Assumptive proposition • Choice proposition

16. Five Step Sales Process #5 After sale • Say “thank you” • Outline the next steps in the process including a timeframe • Obtain EFS appointment • Obtain referrals

17. Outcome • Sales associate notates the final outcome of conversation for future reference • Short description on Lead Tracking spreadsheet • More detailed notes directly on lead / quote sheet

18. Follow up • Appropriate follow-up date is determined • Associate asks permission to check back in at a later date • Very few say no • Lead / quote sheet is filed by month in our follow-up file cabinet

19. Process Management Measurement and tracking • Each producer’s daily activities can easily be tracked and counted • Each lead source’s effectiveness can be easily tracked • The lead load of each producer can be easily tracked • Each lead can be tracked for progress

20. Process Management Flexibility • Location on “P” drive allows easy access • Excel spreadsheets allow for easy data entry • Excel spreadsheets allow for changes to what is tracked and how • Easy to update or archive information

21. Process Management Accountability • Provides mechanism to hold staff accountable to the lead conversion process • Timeliness of steps • Dials • Contacts • Allows for an easy way to keep lead sources accountable • Number of leads provided vs. number billed • Duplicate leads

22. Questions?

23. Successful Sales Techniques Webinar Series Sperber 10 step Lead Conversion and Tracking Process • The 10 step Quote to Close contact process • The 5 step Sales process • Process Measurement and Management Presented 9/20/07 and 9/25/07 Recording available on ?? 9/26/07 Attendance: • Agents and Staff - 159 • Regional Employees - 8 • Field Distribution Leaders - 5 What Agents are saying: We’re very impressed with Phil’s presentation and we intend to adopt much/all of this process