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A Matter Of Debate

7 Ways You Can Grow Your Life Insurance Leads

Life Insurance

A steady stream of leads is the lifeblood of any business. These leads represent your future clients…or at least a good percentage of them. But only if you start off with qualified leads…people who are a good fit for the insurance products you are selling.

At more than $18 trillion, the U.S. life insurance industry is the largest in the world. That translates into opportunities. But it also means you have lots of competition for people’s business.

Apart from selling quality products and delivering exceptional customer service and professional advice, how can you generate more leads and build your business?

In a word…marketing. But we’re not talking about the traditional advertising and promotion route. The level of competition today requires you to stay current on the latest trends and developments in the market. And use that knowledge to build relationships that will be the cornerstone of your growing business.

If you’re looking to give your lead generation a massive boost, generating a stream of targeted life insurance leads is inevitable. Here are 7 proven strategies that you can employ right now to achieve your goal.

  1. Focus on a Specific Niche to Attract Leads More Quickly.
    Two agents approach you to buy insurance. Who would you want to talk with? The first sells life insurance and says, “Don’t worry if you need other types of insurance, I can help.”
    Or would you prefer the second agent who approaches you because she thinks you might be under-insured for liability. She offers a free consultation and an opportunity to sit down and review your insurance needs.
    Yes, the second agent would be our choice too. The fact is, you have a lot of good competition, and anything you can do to distinguish yourself from the pack will help you attract qualified prospects. A niche speaks to prospects from a position of offering specific solutions.
    There’s another reason for focusing on a niche: The long-tail keywords you use online to define your niche (e.g., executive risk and management liability) will help you get ranked faster on Google and improve your chances of showing up on the first or second page of a search.
  1. Deliver Solution-Based Content on Social Media.
    Whether you’re using videos, blog posts, LinkedIn articles or podcasts to build a following, the more your content delivers solutions to real problems, the more interest you are going to receive from insurance buyers.
    You automatically position yourself as an expert. Also as a person willing to help and provide qualified consultation…not just a sales pitch.
    Over time, as you continue to deliver great solutions, you will have the basis for a library of content that you can repurpose and share with your target audience in many ways. A series of posts might become a special report. Or you could transform several interviews into a video or podcast.
  1. Send Out Postcards as Part of Your Program to Generate Referrals.
    Just as leads are the lifeblood of a growing business, referrals are the gold standard. They tell the world you are someone with whom others should do business.
    And when a customer agrees to share the name of a friend or business peer and let you use their name in your introduction, you literally have a foot in the door. In fact, Nielsen reports that buyers consider word-of-mouth recommendations as the most trustworthy. And are four times more likely to buy when referred by a friend.
    If you’re shy about asking for referrals, consider sending a postcard soliciting referrals. Of course, referral requests should only follow once you have satisfied your clients’ insurance needs. And to thank people for referrals, include a little special gift, such as a Starbucks gift card.
  1. Use Email Marketing to Engage Customers.
    Anyone who tells you email is dead is…well, dead wrong. Email is consistently the most successful online marketing tool. According to a DMA email report, the average ROI on email is $38 for every $1 spent, and 20% of companies report an ROI of more than 70:1.
    While we encourage you to use email as part of your marketing, we recommend that you take the time to understand what your audience wants. For example, don’t bombard them with too many emails. Email is not a license to annoy. You should preface any sales offer with valuable content. Also target your emails with specific information.
    There are schools of thought on short versus long emails. Test your market. Find out what they prefer by tracking results.
  1. Create Website Content that Speaks Directly to Your Target Audience.
    While visitors to your website certainly want information that will help them make good buying decisions about insurance products, they also want to be confident they are choosing the right agent.
    Let people know who you are. Share personal stories both about you and your relationships with customers. In the first place, everyone enjoys reading stories. And the more you can provide insight into how you do business, the more you will gain the trust of your target audience.
  1. Show Your Appreciation with Rewards to Clients Who Refer New Prospects.
    In #3 we suggested using Starbucks gift cards to thank your customers. Now consider taking your referral program to the next level with a reward program.
    Clients who refer new prospects are invaluable to your company. They deserve your thanks. When you create a program to show your appreciation, you’re doing more than offering tangible rewards; you are acknowledging your relationship and saying how much you value that relationship.
  1. Make The Most Of Your Marketing Budget
    There’s a quote attributed to early department store magnate, John Wanamaker: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” The same holds true for marketing.
    Companies will throw marketing dollars at a campaign. They spend money on expensive printed brochures and large mailings, and then fail to follow through. Instead they sit back and wait for phone calls.
    Following through, making calls, building email campaigns (rather than one-offs) and building relationships and trust are central to marketing success. You need to make every penny count and grow your return on investment.

Bonus Takeaway
While we’ve shared a few ideas to help you rethink your approach to lead generation, we’ve only touched the tip of the iceberg. You can keep up with new ideas and changing trends at www.advisorist.com.


Have you read?

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Alexandra Dimitropoulou
Deputy executive editor at the ​CEOWORLD magazine. Writer, internet person, professional restaurant recommender, and native New Yorker. Passions: health & wellness, coffee, running & dogs.
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