There are good and bad characteristics of both shared and exclusive insurance leads. This topic is very subjective in nature. Some insurance agents will swear by exclusive leads saying they are the only way to go. Other producers claim shared leads are more cost effective and that exclusive leads are not that much better quality than shared. I am sure many of you reading this already have your opinion on the subject one way or another. For those of you who do not or are new to the industry and want to no more about each I am here to help.
I will start with the advantages and disadvantages of exclusive insurance leads:
Advantage - You know that there will be no other agents competing with you.
Disadvantage - Sometimes people get other quotes on their own.
Advantage - Because the lead is exclusive you do not have to be on stand-by for each lead that comes in to make sure you are the first to call.
Disadvantage - Do not take the client for granted. If they do not hear from you soon they might fill out another form for a quote.
Advantage - The prospect should be more receptive to your call because they will not have been called 4-5 times by other agents.
Disadvantage - This does not guarantee that the prospect provided correct contact information.
Now the advantages and disadvantages of shared insurance leads:
Advantage - Very cost effective. You will pay typically 75% less for shared leads.
Disadvantage - Quality might suffer a little.
Advantage - You can typically get a larger volume of shared leads. This is due to affiliate sites that help out the major shared lead companies.
Disadvantage - You will need to call the prospect immediately to make sure you reach them first or second.
Advantage -You can save money and get almost the same quality of lead.
Disadvantage - You will have to compete with other agents.
I personally use both methods. I have not seen a major advantage with either type. I have found that exclusive leads are not that much higher quality than shared leads. However, exclusive leads allow you to not have to compete. My conclusion is that you have to find what works for you. Try a few companies that offer each type of lead and see for yourself. Good luck.
Here are a few of each to try:
Exclusive - InsuranceFiles.com
Shared - LeadsToInsure.com, NetQuote