If you work in insurance, you can take heart in the fact that there will always be a demand for your service. Perhaps now more than ever, with so much uncertainty abound, people are seeking to protect their assets.
Considering the ever-present need for insurance, your business should not have to struggle to generate well-qualified prospects and leads. Many times, the issue insurance companies, brokers and agents have fueling their growth is not a lack of potential customers; but insufficient knowledge when it comes to how to get them into your pipeline.
However, there are many notable ways for insurance companies to generate leads, even if you’re not an expert in the art of sales!
In this blog, we’ll explore our top 15 ways for generating insurance leads, and how some of today’s most popular industries (life, health and auto insurance, etc.) can put them into practice.
Table of Contents
Using Content Marketing and Blogging
Did you know that 93% of all online searches begin with a search engine? If you’re wondering how to drive some of that targeted traffic to your website, it all starts with content marketing.
Content marketing is a type of marketing strategy that involves creating and sharing online materials (like videos, blogs, social media posts, etc.) to stimulate interest in products or services and to build credibility as an industry expert – the ‘go to person’. Normally, companies structure their content marketing strategy around a preferred set of keywords or keyphrases typically used by their customers. These keywords let search engines know that their content is a good match for certain types of user inquiries and searches.
And most importantly, statistics show that the strategy works!
- Content marketing delivers 3X as many leads as other marketing channels
- Content marketing costs 62% less than other marketing channels
- Companies who use a blog for content marketing are 13X more likely to show positive ROI
Some insurance companies struggle to think of topics and types of content their users may find appealing. But really, the opportunities are endless!
Content marketing gives you the chance to inform, entertain, and educate potential companies about topics related to your industry. The more value you provide, the more trust you build. The more trust you build, the more potential customers you bring in.
This same principle works for our next strategy as well:
Becoming Active on Social Media
Another way to build value and trust — and in-turn leads— is through social media.
Social media is no longer simply a place to connect with friends and family. It has become a center of commerce and contact. And not only for B2C companies either. One recent study showed 84% of C-level and VP-level buyers are influenced by social media when purchasing.
This means if your insurance agency focuses on a B2B audience and you’re not yet on social media, you could be missing a huge opportunity to connect with decision-makers.
Not sure how to get started? Use this simple 6-step process to begin:
- Perform an audit of your current social media presence and work with your team to create goals for each of your channels.
- Look at what your competitors are (and are not) doing on social media and brainstorm creative ways to respond on your own channels.
- Create a plan for implementing your strategy and set aside time each week dedicated to social media.
- Create and share content (especially from your blog as mentioned above!) and interact with your followers and with other brands.
- Continue to evaluate and optimize your social media performance based on analytical data from your campaigns.
- Consistently look for ways to increase followers, raise online brand awareness, and gain targeted web traffic.
Be Active in Your Community
Due to the nature of insurance, customers want to work with agencies and agents that they can rely on; agents who carry the same values. One of the best ways to prove your values is to become involved in your local community.
Corporate social responsibility has become one of the most important criteria that customers look for in their vendors today. And while giving back might be something you’re driven to do outside of generating sales, it will likely still have a positive influence on public opinion about you or your agency. In other words, it’s a true win-win!
Participating in, sponsoring or organizing charitable events is an excellent idea for agents representing any type of insurance industry. Find something you’re passionate about that you can rally behind. For example, if you represent a car insurance company, you could sponsor an event to bring awareness to the dangers of driving under the influence. Or, if you’re a life insurance company, sponsor a free blood drive.
You’ll be amazed at how far a little goodwill can take you in the eyes of potential customers.
Ask for Referrals
It has been proven time and time again that referrals work in generating qualified leads. Clients who come from a referral have shown in studies to have a 59% higher lifetime value and a 71% higher conversion rate than those of non-referral clients. Most insurance companies want referrals, they just aren’t sure how to ask!
There are a few ways to approach this:
- Go for the direct ask – Ask friends, family, and current happy customers to give your information to their contacts (Most people simply won’t think to do this unless you ask!)
- Create partnerships with other agents/brands – If you work in life insurance, consider forming partnerships with agents in other sectors. Then, create a referral networking program with them that works both ways.
- Build Your Network – Participate in local business groups or seek out speaking events
- Offer an incentive program to your customers – Give customers a special discount or promotion for any qualified referral they send your way
Using Cold Calling Services to Extend Your Reach
Cold-calling might seem like an ‘old-school’ method for generating leads in today’s internet-driven environment. However, cold calling is still an incredibly useful tool for generating insurance leads! In fact, 57% of C-level buyers prefer that salespeople call them.
The issue is often that insurance companies or agents don’t have the bandwidth or desire to make hundreds, let alone thousands of cold calls, leading to a stalled strategy that doesn’t perform.
The answer to this is to partner with a cold-calling service who can do the calling for you! There are a many benefits to doing this, not the least of which includes:
- A great cold-calling service can reach far more prospects in less time
- Professional cold-calling services know how to make an effective cold-call, so you won’t need to spend time figuring out an extreme learning curve
- Cold-calling services can pre-qualify your leads, sending only the most well-qualified, ready-to-be-closed leads your way
- Cold-calling services can deliver a far better ROI than going at it yourself. And can keep your pipeline stocked with qualified leads while you focus on closing them
Most people admit that selling insurance is difficult. They experience a lot of difficulty from coworkers to potential clients that they are trying to sell to.
Always Dress Properly
Dressing professionally is one of the most important things you can do for client meetings. You cannot be successful at sales when you do not know how to dress.
When you go for a sales pitch, you must always look at your best. One thing you need to know is that the first thing people see when you approach them is your dressing.
There are different types and styles you need to use when you are trying to sell.
For a guy, you should always go for the corporate and smart look. This is the best option. Dress smart with a good suit and tie that will complement your style. Always smell good. When you want to walk into a presentation looking and smelling good, you will be taken seriously.
For a lady, you need to dress as smart as well. No one wants to talk about insurance with someone that does not look the part.
Always look the best, and you will see that clients will keep coming to you. People will respect you more when you look smart. So always try to look the best.
Go With a Full Sales Team
One thing you should know is that you must not go alone. Always go with the team so that different ideas will be shared.
If you pitch to people, they will most likely listen to you when you are not alone. If you go by yourself, you will be easier to dismiss.
On the day you decide to do a sales pitch, ensure that your team has different stress points. The key to an unsuccessful pitch is everyone on the team keeps saying the same thing repeatedly.
If you are selling your insurance, a group of people should talk about the plan’s features, and another group should talk about the benefits of the plan. When different people are delivering the sales pitch, everything will go smoothly.
When you deliver a pitch alone, there is always a high chance that you will forget certain things. This is normal, but it can be avoided. On the flip side, don’t bring in too many people. A good range is four to six individuals.
Proofread your Communication Materials
Whatever materials you are going to your pitch with, ensure that you’ve proofread them.
One thing you must know is that people are always turned off by errors whenever they see your pitch. When your booklet or presentation files are filled with errors, your prospects will most likely walk out immediately.
In a case like this, what will you do?
First, prepare the material. If you choose to go with a PowerPoint presentation or just a booklet showing all that you offer, prepare it properly first. Take your time and get everything right and ensure that you pay attention to details.
While you are preparing your materials, ensure that you identify your unique selling points for your prospects to see.
The next thing you should do is practice your presentation in front of as many people as possible. These people will help you correct the errors and fix the grammatical structure. Having the right presentation material will guarantee success.
While you are working on your presentation material, also work on your oral presentation. When you have a well-written presentation backed up by a good oral presentation, your sales will go up through the roof. Always have this in mind.
Always Be Transparent
Another thing that is important if you want to get more insurance sales is to be transparent about your products.
If the people you are selling to find out that you are lying, they will likely not buy from you because you’ve lost your competence and their trust.
When you are preparing your sales pitch, never lie about anything. Gather all the important facts about the company and present them to your prospects in the best way you can.
While you are working in your team, try your best to offer all that you can.
One thing you need to know is that the fact that you are trying to be transparent doesn’t mean that you will call out all the negatives in the company. There may be some issues in the place you work, but that should not be part of your speech.
In the market, people like buying insurance from big-name companies. If you work in a small company, you have to put extra effort into your pitch. Try and be transparent and tell them why they should choose you.
While not the most common tip for selling insurance, it is one you should never overlook.
Always Emphasize the Benefits of Each Policy
For you to successfully sell insurance to anyone, they have to be clear on the benefits of your insurance policy. This is one of the foremost tips for selling insurance, and it works every time.
You may know all the benefits, but some people do not know as much as you do. When you are selling, try your best to explain as much as you can to your customers.
When people are trying insurance, they know to know everything about it. The plans, the payment procedures, and how they can get registered. It is your job to tell them all this.
The mistake that a lot of newbie marketers make is that they spend all their time talking about what they are selling and how it was created, rather than the benefits to the customers. This is very wrong.
If you go out to pitch and all you talk about is your company and its achievement, no one will want to listen to you. Remember, this is a sales process and not a time to show off.
Always be Persistent
One thing you need to do during the sales process is to be patient, and persistent. As an insurance marketer, persistence is an important attribute. Marketers all over the world have stated that persistence has lead them to success.
When you go out to sell insurance, it is your persistence that will help you seal the deal. When you meet people for the first time, there is always a high chance that they may not buy from you.
In a case like this, what do you do? You do not give up.
To get your customer’s business, there are a few things you need to do. The first one is to emphasize the benefits.
Just like we stated in the previous point when the prospect understands the benefits well, they will want to consider it.
After that, always push for a second offer. Maybe, you have lost the first chance you go at pitching, it doesn’t mean you should end there.
Find other opportunities to have them hear what you have to say and develop newer information that will blow their minds. When their mind is blown, they will consider your offer.
Selling insurance does not come easy. Most times, it can take up to five trials for you to get one right. There are highs and lows and you must be willing to go through them if you’re to be a successful agent.
Endeavor to be persistent as it is one of the core tips for selling insurance.
Relate to your Client’s Problems
Everybody you are trying to sell to always has a problem. So, if the insurance plans could solve their problems in the best way, they will buy from you.
For example, if you sell travel insurance and you meet someone that has been trying to travel but failed due to travel insurance, then they will gladly buy from you.
One thing that a lot of insurance marketers often fail to realize is that you should not sell to the wrong market. If you are selling insurance know where your target market is and identify their problems.
Let’s take one example. It wouldn’t work to sell travel insurance at a hospital. Nobody will want to buy travel insurance there. The best thing to do is to sell health or life insurance. It is best to find your market and focus there.
When you see someone that just got a new car, the best thing you can do for them is to offer them good car insurance. This is how you sell effectively.
When you know your clients and their problems, selling will be easier for you.
Acquire Professional Skills
Over time, acquiring professional skills have been identified as one of the main tips for selling insurance, especially for agents keen on turning prospects into clients.
While most people overlook this core insurance sales tip, you shouldn’t. It is basically one of the ways you can sell insurance products as easily as possible.
In the business of insurance marketing, you always have to put the customers first. You need to always serve your audience and if you do not know how to that, it could be very difficult for you.
Most clients always expect the best customer service. And as the marketer, you should always be there to assist in the best way you can.
When you are good with your customer service, your current clients will remain, and new clients will come.
If you conduct a deep study, you will see that the best insurance marketers are those with good customer service skills.
So, what is stopping you from getting one? You may be asking, what are the best resources to learn these skills? I suggest you learn from as many books as you can.
Study the best in the industry and try to practice as well. This makes you stand out.
Learn How to Present Yourself
You are the person that people are looking at whenever they make a purchasing decision. When you know how to present yourself properly, your customers will always see you as a professional and want to buy from you.
You need to know that even though you are selling a product, people only buy from those who they can trust. If they do not trust you, it will be difficult for them to buy from you.
What do you need to do?
Ensure that you have built trust first with the customer. When you present yourself in a good way and trust has been established, a lot of things will work out better for you.
Final Thoughts
This article has discussed in full some of the best tips for selling insurance. Most beginners struggle because they do not have access to the right kind of information that would transform their lives and give them the best results they can get.
There is one piece of advice we would like to give both newbie and experienced marketers: You need to always invest in yourself. Networking is key if you want to stay afloat in your career. The more you meet people the better sales and mentorship you get.
Insurance is described as a means of protection from financial loss and is one of the best decisions you can make in your life. Getting insurance is a great way to prevent any kind of loss that may occur unexpectedly and the demand for great insurance sales agents will continue to grow.
There are several types of insurance. There is travel insurance, health insurance, life insurance, car insurance, and much more so it is best to specialize in a specific insurance niche.
When you get a job selling insurance, there are a lot of things you need to know, like when you get a client, you need to ensure that you properly follow up with them.
Hopefully, this article shared with you some of the best insurance sales tips and some new sales tips for insurance agents to help you succeed in your chosen insurance niche.
Collaboration Author:
This post was a collaboration, to collaborate on our blog please email: allison@leadsurance.com
John Dubay is the Managing Partner at Leads at Scale, an outsourced sales support company that helps B2B companies generate well-qualified leads at scale, ready to be closed
