Hey, it's Joe from Atrium Leads.
I am emailing you a one-minute idea to help you sign more PI cases.
The topic of this newsletter is why cheap leads almost always create expensive problems.
Problem
Everyone wants cheap leads. It makes sense, right? Lower cost per lead means more leads for the same budget. More leads means more cases. Simple math.
Except it's not.
Cheap leads are cheap for a reason. They're shared with five other firms. They're unverified. They're low-quality cases. And by the time your intake team spends hours chasing them down, your cost per signed case is higher than if you'd just paid more upfront for better leads.
The real cost isn't the price per lead. It's the time your team wastes, the morale hit from chasing ghosts, and the opportunity cost of not working on real cases.
Story
I was talking to a firm in Atlanta that was buying leads at $75 each. They were pumped because their previous vendor was charging $150. They thought they were saving a ton of money.
But after two months, they were frustrated. Their intake team was burning out. They were calling leads that didn't answer, didn't remember filling out a form, or had already signed with another firm.
I asked them, "What's your signed case rate?" It was 6%. Their cost per signed case was over $5,000.
We switched them to exclusive leads at $180 each. Higher upfront cost, but the leads were verified, exclusive, and ready to sign. Their signed case rate jumped to 18%. Cost per signed case dropped to $2,400.
They were spending more per lead but making way more money.
Implementation
Here's what you need to do:
Stop focusing on cost per lead and start tracking cost per signed case.
Calculate your current cost per signed case: total lead spend divided by signed cases.
Ask your lead vendor: are these leads exclusive? Are they verified? What's the average signed case rate?
Test a small batch of higher-quality leads and compare the cost per signed case to your current vendor.
If cheap leads are costing you more in the long run, cut them and reallocate budget to quality.
Cheap leads feel like a win until you do the math.
Hope you find this useful,
Joe
P.S. Work with me: If you're tired of wasting time on cheap leads that don't convert, reply to this email or go to atriumleads.com and book a call to see if you qualify.