6 Insurance Lead Generation Strategies For 2023
insurance, lead generation, conversational ai,
Even the most seasoned insurance agent couldn’t do their job without the right leads.
But sometimes, generating a good lead can be just as challenging as converting one.
So, how can you generate insurance leads effectively?
This article will provide a helpful walkthrough of 6 insurance lead generation strategies to help you out. We’ll also showcase how conversational AI can help your business generate insurance leads.
This Article Contains
6 Insurance Lead Generation Tactics
An insurance lead is a prospect that is interested in your insurance offerings.
By generating qualified leads, your insurance company will bring new people into your insurance sales funnel, eventually increasing sales. Innovative lead-generation tactics will help you spot potential clients and boost close rates.
So, let's now look at a few lead generation methods your business should employ:
SEO Optimized Online Content Marketing
An insurance agency can create content that educates readers on the products they provide, thus bringing them into the insurance sales pipeline.
This is because most insurance shoppers now look for their policies online. With a killer digital marketing and SEO (search engine optimization) campaign, your company could experience an influx of new customers.
Content marketing linked to a keyword like “health insurance” or any other type of insurance product can help improve organic search results. This will drive customers to the site and increase the likelihood of bringing in new clients.
Include the following in your digital marketing campaign:
- The solutions your agency can provide (for example, auto insurance, life insurance, general industry know-how)
- Educational insurance content, like white papers on certain complex insurance issues or products, could attract a new lead
- Interactive insurance calculators
An example of using SEO strategies would be creating targeted health insurance content for younger audiences or group insurance content for company owners. By creating SEO content targeted at a chosen audience, you are more likely to attract an outbound lead.
Online Web/Contact Forms
Online contact forms should be attached to the company’s web landing page you create for your digital marketing campaign or placed in your targeted email templates.
But what are they?
Online contact forms are similar to chatbots but more static, making them ideal for capturing customer information and insurance inquiries.
They occupy small areas of any web page to allow a new lead to provide contact information such as:
- Name and surname
- Age and date of birth
- Email address
- Phone number
- Service requests
With online contact forms, inbound leads can contact your agency at their convenience, bringing them into your sales funnel.
Email Marketing
Email marketing refers to sending commercial advertisements about products and services to a group of people, converting them from leads into potential customers.
By doing this, you can obtain a direct communication stream between the agency and inbound leads, which helps you nurture a healthy future client relationship. It also allows you to re-contact any aged leads.
The benefits of using email marketing as a lead generation service include:
- Being able to target potential clients and bring them into the sales pipeline.
- Follow up and contact all high-quality leads.
- Influencing aged leads to engage with the brand on a more personal level.
For effective email marketing, your agency should draw up a relevant email list of people interested in a specific type of insurance, for example, exclusive life insurance, auto insurance, or home insurance, and create personalized emails for each type of client. This will help generate a prospect for any insurance provider.
For example, sending homeowners emails containing deals on home insurance premiums is great for building a relationship with potential customers.
Research has shown that a solid email marketing campaign generates 50% more quality leads than any lead-generation tactic. This is especially true if you send personalized emails to each member of your email subscriber list.
Customer Referrals
One of the most common ways to generate an exclusive lead or convert a cold lead is through referrals by an existing customer who already knows and loves your service.
When potential customers hear about positive experiences with your agency, they will likely choose you when an insurance need arises.
The best way to generate customer referrals is by asking existing customers whether they can recommend anyone who stands to benefit from your product. Your agency could increase referrals by providing good customer service or incentives like loyalty rewards programs.
Social Media Advertising
Social media has become one of the most popular online advertising avenues for online lead generation.
Platforms like Facebook, LinkedIn, and Instagram now allow an insurance company to advertise its services to any qualified lead or potential client.
Most social media sites allow advertisers to display posts to your target audience using factors like demographics, languages, keywords, and interests.
Traditional Advertising
Last but not least, go traditional with your advertising strategy instead of going with a dedicated online tactic.
To cultivate a localized customer base, the insurance industry still finds much value in traditional advertising techniques, such as television partnerships and placing ads in newspapers and billboard displays.
While these advertisements are not as targeted as the ones mentioned above and do not recruit shared leads, they could still help boost your agency’s local profile and visibility.
Are there any tools that can help you implement your lead generation ideas?
Let’s take a look at iovox Insights...
Level Up Your Lead Generation with iovox Insights
Iovox, as a lead generation company, uses conversational AI to help your sales team draw insights from leads using call tracking, recording, and transcription. By using these iovox features, your insurance business can discover and nurture quality leads while spotting upsell and cross-sell opportunities.
Some features will help your company with effective lead generation, lead management, and a solid long-term conversion rate.
Here are a few insurance lead generation services offered by iovox:
Dedicated Numbers to Create Personalized Communication
A dedicated number refers to a personalized line of communication a company has with its customers. iovox Insights provides Dedicated Numbers to help you contact any new or exclusive lead, reinforce value propositions, and track calls by source.
You can place iovox’s Dedicated Number on your listing manually. Alternatively, you can use the iovox API to increase the maximum efficiency of said number automatically.
iovox’s Dedicated Numbers will help your insurance agency capture:
- Call status
- Call length
- Caller ID
This makes it ideal for any company that wants to monitor inbound leads and measure insurance agent performance. Understanding interactions is also crucial in individual lead management.
Call Transcription to Spot Trends
Using iovox’s conversational AI technology as an insurance lead generator, you can record, track, and transcribe phone calls with potential leads. This feature uses automation to produce transcripts in real-time, which your insurance business can use to improve a host of operations, including quality assurance, agent training, customer service, and more.
By accurately transcribing calls using iovox Insights, you can:
- Make every customer interaction searchable, even those contacted via cold calling.
- Track agent/customer calls using keywords that influence sales.
- Evaluate KPIs to improve the customer experience.
- Evaluate and improve sales team performance.
By studying interactions, you’ll understand the insurance products that specific leads are interested in and gain insights into what it takes to convert a cold lead into a customer.
Transcripts of successful sales calls can also help create strategies to convert leads into clients more efficiently.
Identify Upsell and Cross-sell Opportunities
iovox software has an API that employs speech recognition and analytics technology to explore keywords and identify the services or policies specific leads are interested in.
Using this information, your agency can find cross-sell opportunities and invite customers to purchase insurance products related to those they are already interested in, whether life, auto, or home insurance.
For example, if you are a life and injury insurance agency, and an existing customer tells a life insurance agent about various occupational hazards. You could use this pain point to cross-sell injury insurance to them. The iovox API will detect keywords that relate to customer needs.
In some cases, you may even introduce customers to higher-end products by upselling, earning more for your agency.
iovox as a lead generator has been extremely helpful for many in the insurance industry, with some discovering a 63% increase in quality leads since implementing the above mentioned features.
Final Thoughts
Whether your company deals in auto, healthcare, or commercial insurance, lead generation is essential to business growth. Your company can employ the above-mentioned tactics to elicit interest in your insurance policies and services.
Marketing strategies like targeted emails and web contact forms are a great way to generate leads faster and bring new potential clients into the sales pipeline.
However, you don’t need to do it alone!
Instead, use call tracking software to boost insurance lead generation services!
iovox, for instance, has built-in features like Dedicated Numbers and call transcription that will improve your lead generation and help your company gain insights into what your clients want and need.
Visit the iovox website for pricing information and more.
To connect with iovox, click the call button below, and we’ll contact you shortly.
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