Only 52% of Americans owned life insurance in 2021, according to a recent Statista report. There are many reasons why customers don’t opt for a life coverage plan, including the costs and minimum requirements of a given life insurance plan. That said, life insurance coverage is becoming more and more affordable and accessible to a broader population by the year.
Searching for potential leads among prospects in these circumstances is similar to trying to find a needle in a haystack. Still, there are some methods that insurance marketers can utilize to reach high-intent insurance seekers more easily.
Being a part of a team of professionals like Profitise ensures that you will always have access to a large pool of qualified leads with full customer support to affiliates, publishers, and advertisers for the best lead generation options available.
How To Find Qualified Insurance Leads
As experts at Salesforce like to say, “qualifying a lead is a process of turning a prospect into a paying customer.” In other words, a qualified lead has a higher chance of converting and committing to a service they find value in. Here are some things to consider:
Turning Prospects Into Leads
The main goal of finding valuable and high-intent leads is to connect them to the insurance services they’re seeking. For a lead to be deemed of high quality, the potential prospect should check off the following criteria:
- Prospect name: The primary piece of data that you need to get to qualify a potential lead is their name since it allows you to target prospects in referral and advertisement campaigns even if they don’t qualify for your services.
- Financial background and company information: Identifying the origin of your prospects helps understand if a lead has the budget to make a purchase and commitment. Knowing what company the lead comes from makes it easier to evaluate their potential budget and how much they can spend on life insurance.
- Contact information: Although email remains one of the primary means of contacting people, other contact data like direct mail addresses, phone numbers, and others is a crucial piece of information to help qualify a potential lead.
Utilize lead magnets and catch forms on your website or platform to gather the above information about your lead. You can then use the collected data to determine whether your lead qualifies to be in your target audience or if your services don’t apply to them.
Ultimately, it is up to your sales team to look at the lead data they receive to indicate whether a lead qualifies or not. They may have different opinions on any given prospect, but the final result is determined through a detailed analysis of the data, as mentioned earlier.
Analyze Marketing Data
Clients looking for an insurance plan might not always know if they are interested in purchasing a policy from a carrier or an insurance agent. In this case, the wise decision would be to qualify leads by analyzing marketing data collected over time.
Insurance agencies can generate leads through multiple channels, including websites, paid ads, social media platforms, and search engine ads. Alternatively, it is possible to simply reach out to former customers and ask for referrals as a means of finding qualified leads.
Creating a robust in-house system that helps convert prospects is essential for your business to remain successful in the long run. With that being said, to remain competitive, your business may require alternative lead sources.
Try Lead Scoring
Be it life insurance, marketing, or a simple sales lead, qualifying all leads requires thorough research of every prospect. Lead scoring is one of the methodologies that marketers, agents, and publishers use to determine the value of any given lead.
Moreover, this methodology utilizes data provided by the prospect and data based on monitoring the lead’s behavior through cookie data on website visits, downloads, opened links, and clicks. Lead scoring increases marketing effectiveness, creates a tighter alignment of your sales and marketing departments, and increases revenue.
Lead Management Systems (LMS) and tools offer a hands-on approach to generating and acquiring new leads. Utilizing an LMS system with all the available prospect data saves a lot of time for agents and publishers alike.
Networking As A Mean Of Generating Qualified Life Insurance Leads
Working with qualified leads is a significant step in growing your life insurance business. Once you have decided to roll with pre-qualified leads, it is vital to select the right provider to deliver the exact kind of leads your business needs.
Get in touch with us today to learn how Profitise can help you generate more qualified life insurance leads to power your agency’s next wave of conversions.
