Insurance & Solar Affiliate News

The Art of Prospecting: How to Generate High-Quality Insurance Leads

10/06/2023

According to BCC Research, the global insurance market in 2022 was estimated at $5.6 trillion; by 2027, it is projected to increase to $9.8 trillion. This statistic demonstrates rapid growth rates and significant prospects for the industry.

If you want to carve out your niche in the insurance sector, it’s essential to understand insurance lead generation right from the start. This is the process of finding prospects who are expected to become regular consumers of the insurance services provided by your company.

Due to fierce competition in the market, the task of finding qualified insurance leads can be challenging. In this material, we will discuss how to find clients for insurance and make your brand recognizable and successful.

We present the 15 best insurance lead generation ideas to build a successful business.

Your 15 Best Insurance Lead Gen Ideas

Create a High-Quality Website

Numerous marketing studies prove the importance of a well-designed website for your business. For instance, it’s known that 75% of consumers evaluate a company’s reliability based on its website. We live in an era of global digitization, and the public expects a website to serve as a full-fledged alternative to an offline insurance company office.

The Art of Prospecting: How to Generate High-Quality Insurance Leads

On your website, potential clients should find detailed information about service provider prices, available insurance policies, the size, and terms of insurance payments. It’s also essential to include reviews from satisfied clients and information about the company’s achievements, such as top rankings, awards, diplomas, membership in reputable associations, etc.

To attract high-quality insurance leads, consider adding some tools to your website, including:

  • A free calculator to estimate insurance premiums based on various parameters
  • High-quality, informative content
  • A 24/7 live chat support service
  • A user-friendly registration form
  • Online document submission

Also, for insurance lead generation, pay attention to the UI/UX design of the website. It should be user-friendly, and you can add animated elements to grab users’ attention. Don’t forget to place calls to action on your website pages.

Optimize Your Website

This advice follows directly from the previous one. To make your website an effective tool for lead generation for insurance, you need to optimize its pages for search queries. This means that all the content on your website should contain keywords that users commonly use when searching for insurance services on Google and other search engines.

The key is not to overdo it with SEO when creating such content. All keywords should be seamlessly integrated into the texts, and users clicking on the links should find useful, relevant material. This comprehensive approach to filling your website will help generate high-quality leads.

Ensure Your Presence on Social Media

For lead generation in insurance, having just a website is not enough. In any marketing strategy, promoting your online presence goes hand in hand with developing your brand on social media. According to statistics, 70% of consumers who have had a successful interaction with a company on social media will recommend it to their friends and family.

The Art of Prospecting: How to Generate High-Quality Insurance Leads

There can be several directions of work on such platforms:

  • Managing your brand’s page: A business account for your insurance company on Facebook or any other social network can include not only information about the services offered, product updates, or brand history. It’s also an appropriate place to engage with potential and existing clients—by answering their questions, sharing interesting industry facts, and publishing engaging interviews with experts and informative videos.
  • Working with influencers: Advertising through bloggers is another excellent opportunity to attract high-quality insurance leads. This promotion method involves influencers posting content on their pages that includes information about your insurance company and its services.
  • Retargeting: This type of display advertising shows ads to users who have visited your website but did not perform a specific action. These ads appear in the potential client’s feed and contain a link that, when clicked, leads them to the advertiser’s website.

According to statistics, there are approximately 4.9 billion social media users worldwide; don’t miss this opportunity to generate high-quality leads.

Create High-Quality Video Content

Optimized text is an effective tool for promoting your website, but modern users prefer videos over even the highest-quality textual material. Research shows that over 60% of consumers find short videos the most attractive type of content on social media. When obtaining leads for insurance, there are specific numbers here, too. Companies that practice video marketing receive 66% more potential clients each year.

Below are some recommendations for creating high-quality video content:

  • Use storytelling: Users are unlikely to appreciate a video conveying only dry facts and figures about your company’s work. Try to evoke emotions in your target audience, sparking their desire to learn more about you.
  • Optimize videos for mobile devices: To ensure you don’t miss any of your high-quality insurance leads, your video content should display equally well on all devices since most modern users use smartphones to interact with websites.
  • Utilize screen recording tools: Include instructional videos on how to use your website or software in the videos you publish.
  • Remember SEO: Keywords are a mandatory component, not only for your text but also for your video descriptions.
  • Involve customers in creating video content: User-generated content is an excellent way to engage consumers in your product and attract even more high-quality insurance leads.

Start Your Blog

To demonstrate your expertise to the target audience, create your own blog on your website or a specialized platform. There, you can post articles about industry news, discuss trends and developments in the field, and share collections of interesting facts from the world of insurance practices. In short, share content that will grab users’ attention and allow them to see your professionalism.

The Art of Prospecting: How to Generate High-Quality Insurance Leads

Run Promotions and Giveaways

Various promotional offers can serve as auxiliary tools for insurance lead generation. These can range from simple discounts when purchasing an insurance policy to more complex campaigns. For example, offer potential clients a chance to participate in a valuable prize giveaway by signing up for a policy by a certain date. Or send them a promo code that entitles them to receive bonuses.

Register on Niche Forums

Registering on forums dedicated to home, life, or other types of insurance services will allow you to actively interact with leads for insurance. Actively respond to questions that directly or indirectly relate to your product, and you’ll certainly find forum participants who may want to reach out to your company for assistance.

Don’t Neglect Online and Offline Advertising

Internet advertising is the primary method for insurance lead generation that most entrepreneurs rely on. Among the possible forms of online advertising, we can highlight:

  • Advertising on social media and search engines
  • Email marketing
  • Banner advertising
  • Pop-up ads
  • Mobile advertising

Although 72% of the marketing budget is allocated to online promotion channels, offline advertising should also remain on your list of priorities if it makes sense for your business. If appropriate, hang a banner promoting your product or advertise in local media.

Host Informative Webinars

Conducting webinars is an excellent method for online insurance lead generation. Through webinars, you can educate your target audience about your products and the benefits that engaging with your company can bring.

The Art of Prospecting: How to Generate High-Quality Insurance Leads

To host a quality webinar, you need to:

  • Choose a relevant topic: Analyze the current insurance market and select a topic that interests your target audience. To do this, gather the opinions of existing clients by conducting surveys on social media or via email. You can also track which materials are most popular on your website and search for common Google queries.
  • Create an informative landing page: This acts as an announcement for the upcoming webinar and should include the date and time of the event, the topic, brief information about the speaker, and details on how to access it.
  • Develop quality content: Pay attention to two aspects here: visual and audio information. Avoid creating slides overloaded with text; convey information through clear tables, charts, and other visuals. As for the content presented, try to engage viewers from the beginning and keep them on the virtual event page.
  • Highlight your advantages and include a call to action (CTA): Despite the valuable information webinars provide to your target audience, their primary goal is to generate high-quality leads and sell your product. Therefore, smoothly transition from any interesting topic to the advantages of your insurance company, and at the end, formulate a CTA.

Use LinkedIn Marketing

LinkedIn is not just a platform for socializing; it’s also for establishing business connections. It offers the advantage of LinkedIn Ads, a marketing tool that can be seen as an effective lead-generation tool for insurance. It allows entrepreneurs to generate high-quality insurance leads, attract traffic to their website, build their brand, communicate with colleagues, and elevate their business to a new level.

LinkedIn Ads encompasses four types of advertising:

  1. Text ads: These messages appear at the top or side of the news feed, grabbing the attention of the target audience. They are typically paid for using the CPC (Cost Per Click) model, meaning you pay for each actual click on the ad link. However, an alternative CPM (Cost Per Millenium) model is also available, where you pay for every thousand ad impressions.
  2. Sponsored InMail: This type of advertising involves sending sponsored messages directly to the email addresses of potential clients on the social network.
  3. Sponsored content: By choosing this type of advertising, you can expect ads with information about your company and products to appear in the feeds of your potential clients.
  4. Dynamic ads: This advertising format allows you to create personalized content, taking into account the data of each potential client, such as their workplace, job position, demographic information, etc.

Join Authoritative Associations

Being a member of a reputable insurance association can make your company appear as an expert in the eyes of your target audience. You also can expand your professional network and gain visibility when mentions of your company appear in the association’s news feed.

Seek Recommendations or Launch a Referral Program

The simplest and most cost-effective way to acquire high-quality insurance leads is through recommendations from satisfied customers. It’s straightforward: you provide quality services, and your satisfied clients recommend your company to their friends. The only drawback of this method of insurance lead generation is the limited control over the process.

If you don’t want to wait for recommendations to come in passively, you can use an alternative, a referral program. It’s essentially the same as recommendations, but in this case, you offer your clients certain incentives, such as discounts on services, monetary rewards, gifts, etc., in exchange for their referrals. In this situation, both parties benefit: you gain new quality insurance leads, and your existing clients enjoy significant savings.

Maintain Partner Relationships with Other Companies

Create a list of industries related to yours and propose partnerships to the heads of corresponding companies to expand your client base. For example, auto dealerships can offer your services to their buyers, thereby contributing to lead generation for insurance. In return, you can recommend the partnering auto dealership when you learn about an insured individual’s plans to change their vehicle.

The Art of Prospecting: How to Generate High-Quality Insurance Leads

Buy Leads for Insurance

If building your own client base, online promotion, and obtaining referrals are time-consuming processes, then purchasing insurance leads is an excellent option for a quick start.

The service of selling contact information of potential clients can be provided by an insurance lead generation firm or an affiliate network that connects those willing to sell insurance leads (affiliates) with entrepreneurs interested in purchasing them (advertisers).

If you want to buy insurance leads, it’s important to turn to a trusted insurance lead generation website, as many of them focus on the number of contacts in the insurance leads list at the expense of their quality. As a result, you may not achieve the desired benefit, as the conversion rate of such leads into regular clients will be minimal.

Profitise is a time-tested affiliate network that combines the functions of a progressive lead management system and an insurance sales leads tracking platform. By becoming its partner, you are guaranteed to receive high-quality services for lead generation for health insurance and other types of insurance.

Call Potential Clients

There’s only one thing left after purchasing or generating high-quality insurance leads: converting them into paying customers. Depending on how interested these leads are in purchasing an insurance policy, they can be “cold,” “warm,” or”hot.”

The Art of Prospecting: How to Generate High-Quality Insurance Leads

With phone calls, most of your leads will be warm or hot, as there’s no use in purchasing random phone numbers.

  • “Warm” calls are made to potential clients who could theoretically buy your insurance policy. Among them are your competitors’ clients and consumers who have shown interest in your services before but didn’t make a purchase. These individuals use similar services or plan to use them but haven’t yet made the final purchase decision.
  • “Hot” calls are made to prospects who are ready to make a purchase. They are the highest quality insurance leads with the highest conversion rate.

Of course, calling potential clients isn’t the only option to convert them. You can also use your client databases for email marketing campaigns or even organize offline events.

Challenges Faced in Insurance Lead Generation

Comprehensive use of all the mentioned methods for insurance lead generation helps entrepreneurs in this industry address a range of customer acquisition challenges:

  1. High industry competition: Due to the large number of insurers, they have to compete for potential clients by reducing their service prices. You can avoid this with the help of effective insurance lead-generation services.
  2. Insufficient quality of generated insurance leads: Any insurance lead generator can provide a database of potential clients. However, when purchasing it, it’s essential to ensure that these are high-quality insurance leads; otherwise, you will waste your money as they won’t convert into clients.
  3. Emergence of new technologies: To meet the expectations of today’s demanding audience, insurance companies need to use innovative technologies for insurance lead generation. For example, you can use AI-based insurance lead generation software or offer your clients IoT devices for participating in promotions and receiving discounts.
  4. Lack of trust in insurance companies: Negative attitudes towards insurers have been forming for decades, making it challenging to change. To improve your reputation, it’s crucial to maintain blogs, host webinars, and publish news. In other words, provide clients with as much up-to-date information as possible about the development of the modern insurance industry.

Summarizing

Insurance lead generation is a complex task faced by all entrepreneurs in the insurance sector. There are various activities for lead generation in insurance sector, but most of them require a lot of time to achieve the desired results. For example, among these activities are website development and optimization, blog management, webinar hosting, seeking recommendations, and more.

For quick access to a database of potential clients, you can use the service of lead generation for insurance companies. The key is to choose a reliable provider who emphasizes the quantity of leads and their quality.

Register with the Profitise affiliate network as an affiliate or advertiser and gain access to high-quality insurance leads that quickly transform into loyal customers.

Frequently Asked Questions

How much does it cost to buy insurance leads?

The cost of a lead depends on its quality and the type of insurance. Simple insurance leads may cost an insurance agent around $10-20, while exclusive, high-quality insurance leads can cost approximately $50.

Are lead generation companies worth it?

The services of the best insurance lead generation companies are worth your attention as they allow you to quickly access customer databases and grow your business without waiting for the results of advertising campaigns and other promotion methods.

What are insurance leads?

Insurance leads are consumers who may be interested in the services of your insurance company. There are cold, warm, and hot leads depending on their interest.

How do insurance agents get leads?

To expand their customer base through high-quality insurance leads, insurance agents enhance their online presence, use online and offline advertising, launch referral programs, and buy leads for insurance on specialized platforms.

What is the best way to get leads for insurance?

The best way to get leads for insurance is to buy them from an insurance lead generation company. When making a deal, the main thing is to pay attention to the quality of leads so that they can convert into customers and bring you the expected profit.

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