Whether you’re a longtime independent agent or just now starting out on your own after leaving a captive agency, buying online insurance leads as an independent is a bit different from when you’re working as an exclusive agent.
With more options to offer consumers, independent agents also have more opportunities when it comes to when, where, and how to buy leads. By employing the right lead-buying strategies, you can use these advantages to maximize your customer acquisition performance and scale your business with efficiency and speed.
Here are two key tips for buying leads with MediaAlpha as an independent agent:
1. Buy non-standard leads at a cost-efficient price
Independent agents also typically have a big leg up with non-standard shoppers. Many exclusive agents can’t write policies for these consumers, particularly when their carriers are looking to maximize profitability during a hard market. This creates a big opportunity for independents.
What’s important to remember is that our automated delivery auctions enable you to bid specific prices for different types of consumers. This way, you can adjust the price you pay for non-standard leads to be in alignment with the lifetime value you receive from these kinds of shoppers when they purchase policies from you. So if you’re worried that a non-standard shopper won’t be as profitable for you as a standard, preferred, or premium shopper, you can simply bid down to a price that makes more sense for your business.
2. Buy leads outside your local area—without worrying about competing with an agent
Another thing to keep in mind: Independent agents never have to worry about competing with agents from the same carrier in the way that captives do. This means you can buy leads across the entirety of the states you’re licensed to do business in, without encroaching on anyone else’s territory or competing against a local agent offering the same exact set of products.
When you buy leads outside your local area, you give yourself the opportunity to increase your lead volume, write more policies, and grow your business at scale—without compromising customer service. Remember: If there’s an area of your state where you don’t think you’ll be profitable, you can always exclude certain zip codes from your buying. And if you’d like to apply a personal touch to a consumer who’s far away, you can always schedule a video consultation.
Want more help buying leads as an independent insurance agent? We’re happy to help.
These two key tips offer independent agents the foundation to really take advantage of their position in the lead-buying marketplace. If you’d like additional information for how you can maximize the profitability and scale of your customer acquisition, our team at MediaAlpha would love to provide support.
We recommend our Agent’s Guide to Online Leads for a complete breakdown of all of our suggested practices for buying, working, and converting online insurance leads. Or, you can simply schedule a meeting with your dedicated client success manager to review your performance and look for opportunities to improve it. And if you’re not yet a MediaAlpha client, you can set up time to speak with us about what we have to offer on our website.