The insurance industry is as competitive as ever, and insurance agents must develop effective methods of generating leads and growing their businesses.
This is often referred to as lead generation.
Lead generation is the term given to the process of attracting potential customers and encouraging them to share their information with you willingly.
If you want to grow your business, it’s a good idea to find new leads on an ongoing basis, and having an effective lead generation strategy is essential. Investing in key lead generation trends could be transformational for your insurance business.
It’s no surprise, then, that 50% of marketers claim that lead generation is the top priority in their marketing campaigns.
As a new insurance agent, lead generation can be daunting and overwhelming. How can you compete with established agents? How can you attract new clients and get your name out there?
In fact, there are several effective ways of generating leads for new insurance agents, and we will cover some of those in this guide, including:
- Cold pitching
- Build a website
- Social media marketing
- Email marketing
- Content marketing
- Sponsored events
Engaging in these types of lead-generation ideas need not be overly complicated or expensive. Read on to find out more about each method of lead generation and how they can help you as a new insurance agent.
10 Ways New Insurance Agents Can Generate Leads
1. Cold pitching
The thought of cold pitching often makes any business person feel uneasy. However, if done well, it can be an excellent strategy for lead generation. Invest in an effective call centre solution and spend time investigating potential clients on platforms such as LinkedIn.
You can then reach out to them in an appropriate and non-sales-y manner.
The best way to do this is to personalize your approach and not focus too much on the sale but on building a relationship with the potential client. Talk to them about something specific on their page, like an article they shared or a recent milestone their business reached.
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Building trust and respect is the main priority, and you can build up to asking your new potential client for a meeting or sending them more information about your services. You want the relationship to feel organic and not forced.
Your hosted IP telephony service will come into its own here, making the cold calling process straightforward and cost-effective.
2. Build a website
Customers who are looking for an insurance provider will often carry out their search online. A study by Deloitte found that 66% of insurance shoppers purchase their insurance online.
It is essential to have a website that reflects the quality of service you offer and gives your customers and prospects a feel for your company.
Your branding has an impact on customer experience, and your website forms a huge part of your overall branding.
So, what do customers want to see on your website? They will be seeking information about your agency as well as the products and services you offer, as well as contact details or testimonials.
An easy-to-use website is a must, as a clunky website will turn customers away instantly. Make sure your contact details are readily available, and offer your prospective customers a simple contact form. You want to make sure your website converts prospective customers into paying clients.
When taking on a big project like launching (or relaunching) a website, ensure you take proper steps to manage your project effectively at each stage.
In the final stages, when you are approaching your launch, use a project review process to ensure your website meets the needs of your business and is set up to generate leads effectively.
3. Social media marketing
As well as having a professional and engaging website, it’s important for new insurance agents to build an online presence through social media. Social media platforms such as Facebook, Instagram, Twitter, and LinkedIn are free to use and act as essential tools for connecting with customers and generating leads.
Free to use image sourced from Unsplash
Use social media to get your name out there and connect with your ideal client. Sharing helpful tips and information can build trust with prospective customers and help you stand out from the competition.
Ensure your social media pages are directly linked to your website and regularly include a call-to-action within your content. There are many ways you can also use automation technology to assist with your social media marketing efforts, such as scheduling content or targeted ad campaigns. If used effectively, social media can be an excellent way to generate leads for new insurance agents.
4. Email marketing
Having data-driven email campaigns can hugely impact your business and be a fantastic way to generate leads. Even in the age of social media, building an email list and regularly contacting prospective customers is still a valid and effective way to generate leads.
Aim to encourage potential customers to give you their email addresses and grow your subscriber list. You can then develop an email marketing strategy to target those potential customers, generate leads and ultimately gain new clients.
You can even use your email signature as a lead generator. Rather than signing off with a basic email signature, direct readers to your website with a call to action button and make your email signature reflect your branding. This will not only strengthen your brand identity but increase traffic to your website.
5. Content Marketing
Content marketing is about creating the content that your target audience wants to see and isn’t just about selling your products and services.
Effective content marketing will direct prospective customers to your services in an organic way and is a highly beneficial form of lead generation.
The first step in effective content marketing is to know and understand your target audience. Then, you can create content such as blog posts or social media posts that would be of value to your audience. Consider searching for tips to create captivating content for insurance websites.
For example, you might write about marketing strategies for small business owners, or you might share advice on why new parents should invest in life insurance. Targeting your audience with the content they are interested in will get you noticed amongst the competition.
Free to use image sourced from Unsplash
6. Sponsored events
Another way for new insurance agents to get their name out there and generate leads is to sponsor events. Sponsoring local events, in particular, can be a very effective way of generating leads.
Whether you volunteer at a local business seminar or get involved with an event hosted by a local charity, getting your name out there in this way can be hugely beneficial.
Not only will you be gaining positive publicity, but you will also be gaining a reputation as a company that cares about making a difference. In fact, 77% of consumers are more likely to make a purchase from a company that they deem to be committed to making the world better.
Developing a reputation as a company that cares will drive customers your way when they need insurance advice from a business they can trust.
While online strategies for lead generation are clearly worthwhile, networking is essential for new insurance agents hoping to generate leads.
Attending industry events such as conferences, business meetings, and sales events is a great way of meeting new people within the industry and helping you to secure potential leads.
Don’t be fooled into thinking that networking can only happen at business-related events, though. You can network anywhere, so always be prepared to find new leads. You could find new leads at your local coffee shop or get chatting with someone on the train.
Ensure you are friendly and open to the people you meet out and about, and you never know where the conversation might lead. If it feels appropriate, you can let them know how to find out more about your business by giving them a business card or directing them to your website or social media channels.
As you build your business and your client base, one of the best ways to generate leads is to ask for referrals. Word of mouth is one of the oldest strategies in the book, but it works. People will often turn to people they trust and ask for recommendations.
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Ask your existing clients to keep you in mind if they know anyone who might benefit from your services. You can make this as formal or informal as you like. It may be that you just ask your client to recommend you if it comes up in conversation, or you might have a formal referral process that you could ask them to complete.
You could even set up a referral program, where you offer incentives to clients who get you more business. For example, you might offer a client a 10% discount off their next three months for every new paying client they introduce. Implementing a referral program can greatly amplify your word-of-mouth marketing efforts and encourage your existing clients to actively promote your services to others.
You should also consider asking friends and family to help with your referrals. Ensure your family and friends are aware of your services and know how they can recommend you to others. They may know someone who would be an ideal client and can pass on your details. Or, if you notice your friend interacting on social media with someone who is an ideal client for you, ask them to introduce you. Remember—potential leads are everywhere!
Similar to asking for referrals, building a bank of reviews is very useful as your business grows. Ask your clients to write reviews for your website and sites like Yelp, TrustPilot, or Google Reviews.
Potential customers will likely read reviews before committing to your services, and having a bank of positive reviews will help build their trust in you. When searching online for potential insurance agents, your positive reviews will generate leads.
Remember to actually ask for reviews and not leave this up to chance. Remember earlier when we discussed email signatures? Why not include a call to action link in your email signature with “Leave a Review”? Or use cloud based contact centre solutions to call customers and encourage them to write a review about your services.
Free to use image sourced from Pixabay
Striking up partnerships with other businesses is a fantastic way to generate leads. Just think of all the natural connections you could make with businesses selling to your target audience.
Here are a few examples:
- Car dealerships selling to customers who need car insurance
- Real estate agents selling to customers who need home insurance
- Travel agents selling to customers who need travel insurance
Start by making a list of local businesses that would be a good fit, and reach out to them with a proposal. An effective way to do this could be by using a fax broadcasting service.
Engage in meaningful and strategic partnerships with reputable businesses, and you can generate leads organically. Ensure the businesses you choose to partner with have a good reputation, and you could build a mutually beneficial partnership by agreeing to recommend them to your customers and vice versa.
You could also consider offering partners an incentive such as commission or discounts if they send paying clients your way.
Converting Your Lead Into Paying Clients
Remember, there won’t be one best way that generates leads for every new insurance agent. Try out different methods and find what works for you and your business. The ten methods for lead generation listed here are a good place to start.
Ensure your clients have a high-quality customer experience and guarantee they become returning customers as well as advocates for your business. Offering a high-quality service is a lead-generation strategy in itself!
Use your lead generation strategies alongside strong sales and insurance marketing strategies to ensure your leads are not only interested in your company but actually want to make a purchase from you and are converted into long-term paying clients.
About the author
Alwayne Powell is an experienced performance marketing leader with an extensive background in the digital space, working client and agency side to provide paid search, SEO and CRO solutions in the B2B and B2C sectors. They are the current Senior Digital Marketing Manager at 8x8, call routing service and leading communication platform provider. Alwayne has also written for other domains such as Startups Magazine and iGMS. You can find them on LinkedIn.