How can you get clients for your insurance company?
The truth is that insurance customers can be found everywhere. Everybody should review their insurance policy more often. However, to build a profitable insurance business, you need a solid marketing and sales plan. This will allow you to attract new clients and retain existing customers.
It is not always the best way to create a sustainable insurance company. There are many ways to quickly get insurance clients.
Social media and networking are so prevalent that we often forget about face-to-face networking. This is your key weapon to acquiring new clients for insurance.
Here are some of my favourite networking opportunities:
- Partner with Professionals – Meet and exchange referrals between real estate agents, lawyers, mortgage brokers, CPAs, and CPAs
- Community Service Organizations – Network through your Rotary Club, Kiwanis Club, VFW, Elks and other local organizations
- Schools, churches, and other places where you meet with friends and family offer opportunities to build relationships and network that will benefit you in the future.
- We are able to connect with families who need better insurance by contacting local sports teams, including baseball, basketball and volleyball.
Technology cannot replace the power and intimacy of face-to-face, in-person relationships. Opportunities can be found by simply listening and building relationships.
Always keep plenty of business cards and up-to-date information. Be open to opportunities and prepared to present yourself and your company and offer advice on insurance in a short, consultative manner.
While not everyone will be interested, they might find it helpful to chat with you about your products and services. Let them know that even if they aren’t interested in your products or feel confident with their current insurance, you are happy to help any referrals.
Use a Consultative Sales – Learn More
Listen more and speak less.
Practice listening to their needs, whether they are in personal relationships or with new prospects. Listen to what they have to say about their lives, their families, and their financial situations.
Do not just jump in to your products and services. While you are the expert, it is important to let your client speak first so that they can fully understand their insurance needs. Consultative sales is the best approach to any financial service sale.
To expand your product range, you can partner with multiple carriers. Bundling personal insurance lines can be beneficial for customers who need multiple products. Prospective customers may be able to refer you to commercial lines, such as E&O, bonding and workers’ compensation.
Cold calling small businesses
Cold calling is a powerful tool, especially for small businesses in your area. Small businesses with 100 employees or less often require competitive insurance to protect against a range of risks.
This approach requires some planning and research. Do some research on each business, the potential risks and who might be responsible for managing them. Next, you should approach the business with a strong knowledge base and be ready to provide valuable advice.
Set up a Referral Program
Referrals are the heart of any insurance agency.
How can you make a sustainable and consistent referral system?
My favorite book on this topic is The Referral Engine: Teaching Your Business to Market Itself. This book goes beyond just asking for the occasional referral from a friend or colleague. It encourages you instead to integrate these referral systems into your business operations and practices.
Referral systems that work well look for the best times and opportunities to ask colleagues, past clients, and customers for referrals. Asking for referrals is easy when you integrate these requests and surveys into your workflows and processes. This increases your comfort and makes it easier to ask for referrals.
Although online marketing may seem complicated and technical, these marketing strategies are becoming more accessible. Begin with the basics – a website and possibly one or two social media channels (e.g. Facebook and Linkedin).
Your website and social media can be used to answer common questions of your clients and prospects. This content can be used to inform and help current clients as well as to point out new prospects to these resources. Emailing this content to clients is a great way to do it. You might be surprised at how many clients have insurance needs.
Once you’ve got this rhythm in place, expand your online marketing strategies to reach a larger audience.
Next, you need to grow your email list so that clients are not yet on your marketing list. To build your email list, use “lead magnets”, which are ebooks, checklists, and guides.
To increase your insurance leads, you should expand your online marketing strategies to include paid advertising (Google Ads or Facebook Ads).
These tactics can be combined to create a solid lead gen and lead nurturing system that will generate new clients consistently and sustainably.
Although new technologies can be intimidating, the chance to reach real people at large who are interested in your products or services makes it worth it.
Buy aged leads
A supply of older leads is another great way to get new clients.
Each day thousands request insurance quotes online. About 2 to 5% of leads will purchase insurance right away. This is often the agent they speak to first. What about the rest of them? A good half of these leads will buy eventually, but many others aren’t yet ready.
These discounted web leads can be purchased at a discount of 30, 60 or 90 days. The ROI can be high if you have the right tools and systems.
Approximately 95% of agents give up on these leads within the first week. These leads are often older and submit a quote request. They then get harassed for several days with sales calls, before being ignored. They might be overwhelmed and may need additional information, education and nurturing in order to close the deal. These leads are a huge opportunity for sales agents who have the ability to set up sales and marketing systems. This can be a great way for you to grow your business and build a large client base.
Are You Ready to Create a Client Acquisition Program?
Building a large, sustainable and profitable book of insurance business is the key to getting more clients. This involves creating systems that allow you to network, grow your audience and market to them to get leads. To get more clients for insurance, you can use any of the strategies listed above.
Are you ready to attract more clients for your insurance company?
Fill up your pipeline with a fresh supply of high-quality aged insurance leads from The Aged Lead Store.
There are thousands of age-related leads that can be sorted to increase your sales.