Finding Quality Leads: Exclusive vs Non-exclusive

Types of Leads
The need for a continuous stream of new clients or customers has created the "lead industry" which makes use of the internet as well as mailing and telemarketing strategies to find prospects for the many products the agents are marketing. The lead generating companies that publish leads for a wide variety of products work primarily through the internet. Some individual companies still contract with telemarketers, and many companies do still use regular mail—sending out cards that offer something for free if one just returns the card. Of course, a sales person will get the card and will be calling in an attempt to place his or her product along with providing the advertised freebee.
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There are many different types of leads, but one way of classifying them is Exclusive or Non-exclusive. The majority of lead companies are selling non-exclusive leads, also called "shared leads" or "limited priority" leads. This means they will sell each lead to at least three agents. Some companies sell the lead to only one agent from a given company while others send them to any agent in the geographical area. Some companies resell the same lead multiple times, so it pays to ask a company what its policies are before making a purchase.

Exclusive leads are sold to only one agent—or agency. Since the publisher of the lead has only one opportunity to profit from the lead, it will usually be more expensive than the shared lead, and your money may be non-refundable if the lead turns out to be a dud. However, a lead sold as "exclusive" may not remain "exclusive" for long. The publisher may sell the lead to only one agency, but he can't prevent the agency or even the agents themselves from reselling the lead. It's also possible that the prospect who requested the information online may have filled out more than one online form on more than one website.

Leads are more likely to be exclusive if they are generated by the company selling the product, whether it be insurance or vacuum cleaners. Insurance companies in particular send targeted mailer cards to groups of people in various age categories. The cards that are sent back are sorted at a central processing location and sent to appropriate offices where they are distributed to the agents. A conscientious manager will not antagonize his own local client base by giving the same names to every agent in the office.

Handling a lead
Since the internet is so easy to use, more and more people are going online to look for information and quotes on various products. Most of the general public, however, still does not realize that few companies will provide instant prices. As you know, most product quote sites only collect information and then tell the prospect that an "agent will call." The lead companies providing the best product make it clear from the start that the information will be given to an agent, and a few companies actually conduct a pre-call to determine if the person is really interested in the product and wants a sales agent to call. Once confirmed, the information is sent to an agent. The pre-call method helps cut down on phony numbers or people who were just browsing out of curiosity. Once the lead has been generated—by whatever method—it will get sent to an agent(s), often within just a few seconds.

Once you have received a lead, regardless of its type, you should call and send an email as soon as possible. Since a non-exclusive lead will usually be sent to a minimum of three people, it is often the quickest agent who will get the business. If you cannot reach the prospect within 24 hours, and email has received no response, send a regular letter introducing your self and including a flyer or two detailing the type of product the person has requested. If you are working in the area, you could even stop at the address and leave your card and a friendly note on the door.

Finally, if contact is impossible—the person doesn't live there, no one ever answers the phone or responds to email—or the individual actually didn't qualify for or had no interest in the program, most companies have some sort of credit system with terms that vary from one company to another.
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