Home insurance, health insurance, life insurance… with so many products, you’d think that the insurance industry wouldn’t have a hard time selling itself.
But, as any new insurance agent or business knows, it’s not that easy getting people to purchase your product at first.
And, with the amount of homeowners opting out of purchasing coverage increasing steadily, it’s now harder than ever to make the winning sale.
The good news is that with a tweak in your marketing and lead generation ideas, you can have a thriving business. Keep reading this guide to find out how.
Why Your Lead Generation Strategy Isn’t Working
Before we get into new lead generation ideas for your insurance business, let’s talk about reasons why your current strategy might not be working.
There are several similar challenges the insurance industry faces that limits the amount of sales that’s made and success from client purchases. It’s an industry that requires you to stay on top of current market trends and experiment with your reach so prospects stay familiar with your product and why they need it.
1. You Don’t Know Who You’re Selling To
As they say in business, sell to everyone and you’ll sell to no one. While it’s nice to feellike your product can help literally everyone, this might be your biggest roadblock if it’s your current strategy.
Clients have different needs when it comes to insurance and available plans. The better you know your target audience and their needs (which can vary upon regions), the better you can market your products and plans to earn more sales.
Before altering your marketing strategy with new lead gens, take some time thoroughly evaluating your plans and products, understanding who, specifically they’re a fit for, and tailor a marketing plan around those findings.
2. You’re Not Using the Right Tactics
Of course, an obvious reason as to why your insurance business isn’t thriving is simply from not using the right marketing strategies.
Marketing requires lots of experimenting as no tactic fits all. The key is exploring a variety of methods and analyzing engagement to see what prospects respond to.
3. Your Business Isn’t Credible
Your business might be legally credible, but without a strong marketing presence, it’s not credible to your clientele.
The key to winning more sales is proving your industry knowledge to lead in a way that positions yourself as an expert in your business. The goal of your marketing should be to make leads realize you are the one they should do business with and no one else.
This challenge is an easy fix – the remedy is engaging more with prospects by tweaking the type of content you’re churning out and then satisfying customers to earn some positive reviews.
The more content you push and positive testimonials you advertise, the more credible your business will become in the eyes of leads.
4. You Haven’t Adapted to Market Changes
One in 13 homeowners in America do not carry homeowner’s insurance. WIth the rate of homeowners opting out of coverage to save a few bucks increasing, it can feel tough to get leads to consider working with you in the first place.
The reason why you haven’t been seeing an increase in sales could be because you haven’t adapted to market changes within your clients’ pain points. The new pain point is budgeting to afford policies that cover larger expenses in the case of future events.
Dissecting this paint point and marketing to it effectively is the breakthrough your business needs since it’s an emotional point your audience will deeply resonate with.
8 Best Insurance Lead Generation Strategies
Now that you know the main challenges that are keeping your insurance business from flourishing, it’s time to evaluate your current marketing strategy to see what new ideas you can implement into your campaigns.
Here are 8 new lead generation strategies to start with to win new clients.
1. Be Transparent
One of the most effective lead generation strategies for insurance agents is being upfront about the policies you offer.
The last thing you want to happen is losing business because your clients didn’t know your policy regulations, pricing, deductibles, and so forth.
If a prospective client has questions, answer them fully and honestly. Plus, entice them with valuable information by disclosing add ons, discounts or bundles, and more benefits your company offers to position the product as something they can’t live without by marketing your products with honesty.
2. Referrals
Word of life mouth marketing is still alive and well, especially when you satisfy current customers and have a referral program in place.
If you haven’t set up a referral program already, create one that entices current clients to tell their friends, colleagues, or family about your business by offering incentives.
The best incentives to offer can be cash credits, gift cards, discounts, or other rewards. Also find ways to reward your current client and new prospect at the same time.
For example, if you’re a home construction company, offer a cash credit for both clients to put towards fixtures or other expenses in the house they’re building if the referred customer decides to do business with you.
3. Email Marketing
When leads fill out your contact form, sign up for your newsletter, or interact with your business, capture their email to stay connected and continue to market.
Email marketing keeps your business fresh in your customers’ minds by sending them messages about upcoming events within your business, discounts you’re offering, or addressing their pain points by communicating your latest blog post answering a common question.
As you flesh out your email marketing strategy, remember these key elements to craft open-worthy emails:
- Start with an irresistible subject line.
- Write valuable content for your leads to interact with.
- Include a clear call to action at the end of the message.
- Only send 2-4 emails per week.
4. Social Media
Social media is one of the highly converting lead generation tactics insurance businesses should include in their campaigns.
Platforms like Instagram, Facebook, TikTok, and LinkedIn make it possible to engage with potential leads, pay for paid advertisements, and grow your brand.
The best part of social media marketing is that you can be creative in the information you produce. It can be a mix of showcasing your expertise through testimonials or educational videos while also including a mix of humor to really captivate your audience and make your brand stand out.
5. SEO Content Marketing
Insurance is an education-heavy field that clients are curious about before finding a company to work with.
By implementing an SEO content marketing plan in your efforts, you’ll be able to answer the questions leads are more often searching for so they can interact with your company and become familiar with your brand.
To do this, you will need to start a blog on your website to answer your clients’ most searched questions surrounded by a keyword. This keyword is the SEO part of the strategy that drives more customers to your website.
As you start to write a myriad of blog posts all answering your clients’ most-asked questions, remember to include these key elements to produce valuable content that converts:
- Thoroughly and honestly answer the question your post stems around.
- Write about the way your business helps the customer.
- Add internal links in every post to other posts on the blog to keep readers on your site longer.
- Add a strong call to action at the end of every post encouraging readers to take the next step by contacting you.
- Add a newsletter opt-in so readers can stay connected with you.
- Stick to a routine posting schedule so your site stays fresh with new blogs.
6. Website Contact Forms
Website contact forms are one of the best tried and true ways to capture leads as an insurance agent. These forms get a load of contact information from your client (like their email address, phone number, and possibly their home address) so you can stay connected.
When more leads fill out your contact form, that’s another prospect to add to your email marketing campaign or call to inquire about your services.
To get leads to sign your contact form, offer some kind of incentive such as a freebie, discount, or free quote.
7. Print Advertisements
Brochures, business cards, business flyers, and other print materials are still converting marketing materials to have in your campaigns and capture leads.
Billboard displays, brochures, business flyers and signs, and other print advertisements are ones to invest in to spread the word about your services.
As clients start to roll in, you can ask them to partake in a survey that asks how they discovered your business so you can analyze which tactic(s) are most effective.
If you find that print advertisements have little to do with your success, you can remove them from your strategy to put more of your budget towards converting mediums.
8. Use Lead Gen Software
Nowadays, not using lead generation software could be another big reason why you’re not converting more sales.
Software like Cole Information makes it incredibly easy to attach high-converting leads by streamlining processes, generating customers to contacts, and automating the customer journey.
This method, combined with the rest on our list, is the most effective since it produces names of customers to target and move through the funnel for more closes.
