Life insurance is a competitive industry. Just about everyone needs it, and there is are not a lot of differentiating factors between you and the next guy in line.
So, lead generation strategies are often what make the biggest difference to the overall success of a company.
In the modern world, there are hundreds of techniques that all get results for certain firms in certain situations. So how can you be sure which ones will work best for your company?
In this post, we want to address 5 Life Insurance Lead Generation Strategies that are proven to be effective, in order to help you generate and close more leads.
1. Build a Blog With Original & Helpful Content
Content is the most important way to provide information to potential leads, keep them interested in what you have to say, and give them what they need to form a trusting professional relationship with your company. Content helps people not only find your site but it drives traffic and allows for lead information to be collected, building a sales funnel over time.
93% of companies now find that content marketing is more effective compared to traditional strategies when it comes to generating leads. Building a blog with original and helpful content sets your company up for success by establishing your authority as a life insurance expert. Anything that involves money in as serious a fashion and as permanent a fashion as life insurance requires authority and trust on behalf of the company.
This is especially true in the life insurance industry, which to consumers is often clouded in smoke and mirrors, distrusted, and generally not understood by the greater population. Creating an information bridge for them to understand your products and how the process works builds trust, generates traffic, and creates a steady flow of highly qualified leads over time.
2. Chatbot Marketing
The average lead will take 3 months or more to pick a life insurance policy. They want to talk with someone, and want their questions answered in order to make sure they make the best long term decision for their family.
With a chatbot, you can answer questions that they have immediately, in a personal manner, without having to worry about paying a customer service rep to do it, while saving your agents time. The beauty of chatbots is that you can even start off a conversation with them answering a few basic questions before they even ask them, and pass on resources that can help them get started.
This can help to build trust immediately, build your brand, keep them on your site, and dramatically increase contact rates and conversion rates on various pages. The best part is that most chatbot services are quite easy to customize and fairly affordable and easy to implement.
3. Focus on a Highly Specific Niche
In the life insurance industry, online competition is very steep. This means that in order to succeed, especially as a small firm, you need to focus on a highly specific niche.
Find specific type of coverage that where you can provide value to your online clients, value that isn't found elsewhere - whether through superior prices, better coverage, more expertise, or more options.
As time goes on, you can expand your service offerings, but to start, you should aim to be a guru in one specific type of coverage in order to generate more leads faster and have more success with your online marketing strategies.
4. Create Engaging Content for Agents to Distribute
You should focus on creating engaging content for your agents to distribute to potential leads. This will save time for your agents, and also help to guide your leads through the sales funnel naturally. Moreover, that content needs to be formatted such that
Keep in mind that leads in different parts of the funnel will have different informational needs, and therefore need different resources. Some helpful pieces of content you may want to have on hand include things like:
- Coverage calculators that encourage potential leads to find out how much life insurance coverage they need
- Interactive quizzes to determine which type of life insurance is best
- Other tools that force people to legitimately consider the type/amount of coverage they need and then take action in the form of seeking more information
Targeting leads with relevant content, meaning content that is relevant to where they are in the buying process be it emails or web pages or ads, is the most effective way to move leads along the sales pipeline toward becoming customers. In fact, such targeting methods result in 72% higher conversion rates on average.
One way to personalize that nurturing is with email segmentation, social media integration, and individualized landing pages with the ideas listed above. You might, for example, post one of the quizzes on social media or have a coverage calculator feature on your landing page. This will ensure that no matter where a potential lead ends up, they are engaged with relevant content.
5. Utilize Video Content to Your Advantage
Video content is fast growing and it impacts your rank among search engines. In fact, video now makes up for about 75% of all US search traffic. On top of that, video has been shown to increase rankings in search engines by around 30-70% on average.
Right now there are still huger information gaps that need to be filled in the life insurance industry, and people need a way to get accurate information about life insurance in a way they can understand. Most of the time that takes the form of simple, bite-sized pieces of information. That bite sized information can be construed clearly in a video that gets right to the point.
Coupling this video content with written content on your website improves your chances of ranking higher in search engines, and also helps to build your brand more effectively over time. Adding video to landing pages has also been shown to increase conversion rates by up to 300% in some cases.
Wrapping Things Up - Generating More Life Insurance Leads in 2019 and Beyond
If you begin implementing these strategies regularly into your lead generation process, and build comprehensive strategies around them that are built on data-driven insights, you will begin to notice massive improvements over time.
For those who have been struggling with life insurance lead generation, or who just want to improve their closing rates without depleting your margins, we strongly recommend considering live transfer life insurance leads.
At Digital Market Media, we have a highly trained team of lead sourcing specialists for a multitude of industries. Our team sources high quality, exclusive, scrubbed and compliant leads and warms them up, qualifies them, then transfers them to your agents in real time when it is time to close. This saves you a massive amount of time, improves closing rates, and is surprisingly affordable when compared to other less effective lead generation strategies.
To learn more about how the DMM team can help you improve your sales process and scale your life insurance sales, give us a call today!