No insurance agency can afford to rest on its laurels, waiting for enthusiastic customers to come walking through the door; you must be proactive and consistent in your efforts to source new clients. If you've been following along with our market studies, you know that now, more than ever, shoppers are turning to the internet to research and obtain insurance quotes. Savvy agencies are taking advantage of this growing demand by working with lead supplier companies (like Yours Truly) to meet the consumers where they are shopping. Like most things in life, however, you should avoid putting all your eggs in one basket. Having a diversified approach to marketing is often the most effective way to bring in leads on a more consistent basis. Here are eight additional ways to generate insurance leads that can help expand your sources for new business:
1. Email Marketing
This kind of approach involves sharing news updates and opportunities via email for purposes of raising business awareness, staying in touch, social media promotion, obtaining referrals, etc. Marketing in this way can take some time and expertise, but it does not have to be expensive. Try to find groups, forums, associations, etc. that would want to get a quote to see if you could save them money on insurance instead of blindly casting out emails with hopes to get a bite. Make sure your emails are attractive and clear. A cluttered layout with little information and a hard sell will go right into the trash folder. Finally, don’t flood inboxes with too many blasts; By being selective about frequency and providing valuable content, your emails have a much better chance of being read and generating leads. To learn more about email marketing best practices, take a look at this webinar with our partners at Agency Revolution:
2. Social Media Marketing*
Using social media for insurance lead generation may seem difficult, but if you remember that the main idea is to connect with potential customers on a personal level, you will find it is not so hard. Not every platform may make sense for your agency and target market, but we highly recommend having at least a Facebook page for your business. If a shopper comes across your agency online, it's likely they will perform a Google search to find out more. Consumers like to see multiple online listings for agents, whether it be a personal website/blog, a LinkedIn page, Facebook page, etc. Having a wider online professional presence sends the message that your agency is current on modern demands and that you value involvement and communication with your community. Having multiple platforms representing your business also increases your chances of receiving SEO and SEM traffic through social posts that contain key search words. These posts should be interesting, thought-provoking, and just intriguing enough that readers want to click the links to learn more. If you get comments on any posts, it is vital that you respond to them and keep the conversation going. There are a variety of tools out there, like Hootsuite, that allow you to post on multiple platforms at once with one click.
3. Paid Ads*
Paid Ads consist of online advertisements designed to reach a specific target audience. Google AdWords is the most popular service, but Bing offers a similar option. Because Bing is the default browser search engine on Windows, their services may be useful for reaching a more mature audience. However, Google processes over 3.5 billion searches per day, so it’s probably safe to say that utilizing this tool would be the most effective way to maximize your marketing efforts. Social platforms like Facebook and Instagram also provide ways to create paid ads that vary in price depending on your desired audience size.
Sometimes an effective lead generation strategy is simply meeting people face to face. Attending networking events are often free or inexpensive, depending on the format, and provide you the chance to connect with potential clients and generate referrals.
Try to find opportunities to speak at networking events as an authority figure in the insurance field. Gather business cards from the people you meet and be sure to follow up with them afterward. Of course, your friends and family are an obvious go-to for business and referrals, but don't forget your neighbors! Fire up the barbecue and sponsor a block party to strengthen relationships with the local community.
Look into local and grand-scale sponsorship opportunities (ask around at your barbecue!) By sponsoring a local golf tournament or community festival, your business name can be seen by dozens, even thousands, of people. Be sure to monitor your return on investment if you go this route as it tends to be a pricier option. If you can negotiate a speaking opportunity during the event — even better!
6. Audio Ads
The effectiveness of radio advertising depends on the station’s reach, audience, and the timing of your ad. A benefit to radio marketing is that it often offers a cheaper alternative to television advertising. Most music and podcast streaming platforms, such as Spotify, offer inexpensive ad options as well, which is helpful for reaching younger generations and those who prefer these services to traditional radio listening. Make sure your ads are informative and engaging enough so that listeners will follow up with a phone call (having a catchy slogan that gets stuck in their head is always a plus).
Branding is vital to insurance lead marketing. Your agency name should be everywhere your customers shop, and the design and feel should resonate with your target audience. Consistency across every branding element is a must, from the company logo to the website and letterhead. Remember that you are building authority and trust in people’s minds; you want your agency’s mission to be obvious. For help developing your personal brand and brand assets, reach out to our friends at YPC Media.
Swag giveaways go hand in hand with branding. Pass out branded items at events, or partner with local businesses to supply branded items to clients. Your brand should be on everything you hand out. The right item, such as a thumb drive or desk calendar, may be used for months or years, keeping your branding in front of potential customers’ eyes for a long-term impression.
When diversifying your marketing efforts, the key to success lies in consistent monitoring of each lead source and continued research into the most effective areas of opportunity. Implement a short survey in your inbound sales process that asks customers how they found your business. Uncover where they get their news and what social media platforms are most popular. What types of events do they attend? Do they listen to the radio? You should constantly be monitoring where your leads are being generated along with your cost per acquisition. Does it make financial sense to keep spending with source A, or would putting that money towards greater efforts with source B be more advantageous?
If you are listing your website link anywhere, try using a click tracking tool that shows you exactly where your site traffic is coming from. Keep up to date on emerging marketing opportunities and stay mindful of what keywords people are using when shopping for insurance online. Generating insurance leads doesn't have to be costly or complicated. Try choosing a couple to get started, then implement others as you get comfortable with the process, tracking ROI to ensure no effort is wasted.
* Learn more about these online marketing strategies in our Digital Marketing Strategy for Insurance Agents article.