Fixed priced leads are outdated, they belong to the previous decade, the pre-covid times, they’re just so 2020. Period.
Let’s say you poured a glass of water this morning before opening your emails. It might be sitting on your desk still. You might have forgotten about it. No one else wants it—it’s yours, no rush. Imagine the value of that water in the desert while being lost. Now, imagine the value of the same glass of water to hundreds of thirsty people who also want it.
The average day on the lead market is a wild combination of the scenes above. Sometimes agents are forced to increase their bids to levels that will greatly hurt their CPA (cost-per-acquisition) in order to have access to a few more leads. At other times they are overwhelmed with the sudden lead flow due to abundant supply and low competition. The latter is also an undeniable case of overbidding.
While changing prices multiple times a day might mitigate the issue, if you’re leading an insurance sales operation, it’s certainly not a valid (or smart) option when there are better alternatives. If you are interested in a more intelligent alternative, you can always give us a call at 800-776-5646 to learn more, or ask our data scientist a question below!
While boberdoo does not buy or sell leads, our 20+ years of experience providing software to the lead generation industry have given us unique insights to develop the boberdoo AI Savings Model. This combines our customers’ targeted lead segment data with bidding metrics to train a machine learning model that not only forecasts the competition and expected lead flow from the market but also has an artificial intelligence layer sitting on top that adjusts bids automatically to a lower value as appropriate.While the model thrives in most business environments, it is not for everyone. Here are some pros and cons of utilizing it: