Open enrollment is fast approaching, and as health insurance lead buyers, you're undoubtedly aware of the challenges and opportunities this time of year presents. With the influx of individuals seeking health insurance, bidding dynamically with precision and data to back it up is how to thrive. Enter boberdoo's Artificial Intelligence Savings Model.
The Old vs. The New
Fixed-priced lead buying is a relic of the past. If you aren't using AI for lead buying, sorry to say, but you're a dinosaur in the modern age. The value of a lead can fluctuate dramatically based on demand. On some days, agents might find themselves in bidding wars, driving up their cost-per-acquisition (CPA). On others, there might be an influx of available leads due to low competition, leading to potential overbidding. Just because you paid that much for a lead yesterday does not mean it's the best price for today.
A Smarter Approach
Manually adjusting prices multiple times daily is more than just tedious; it's also not the most strategic move. boberdoo's AI Savings Model offers a more intelligent alternative. With over two decades in the lead generation industry, boberdoo has harnessed its insights to create a machine learning model that:
- Forecasts competition and expected lead flow
- Adjusts bids automatically to a lower value when appropriate to save you money
- Makes decisions based only on data and trends instead of emotion or guessing
Benefits of the AI Model
- Low Risk: The AI model will only adjust bids downward, making it a virtually risk-free option.
- Time Savings: Your team can focus on broader strategies instead of manual bid adjustments.
- Reinvestment Opportunities: The model identifies premium segments that might benefit from a price boost, allowing you to reinvest your savings.
- Cost-Effective: There's no upfront cost. You provide the data, boberdoo offers the expertise and the model, and the savings are shared.
- Stabilized bidding: No more back-and-forth quotas. The AI model stabilizes your bidding so your days look more like 100 - 80% quotas met than 100% one day and 40% the next.
Safeguards Against Human Error
The AI Model can combat human error, which we all know; one wrong keystroke can cost thousands in the blink of an eye. One of our clients who used the AI Model set $30 as a max bid when he meant to set it at $3. The model saw this and knew it was overpaying, reducing the bid, and saving this client from significantly overbidding leads.
Incorporating artificial intelligence into your lead-buying strategy isn't just smart; it's a game-changer—this open enrollment leverages boberdoo's AI model to optimize your lead-buying process, saving time and money.