If you are an insurance professional and lack reliable and consistent inflow of quality insurance leads, I would guess that you will face some difficult challenges in gaining or keeping ahead of your competitors. Let’s define terms. The best leads are able to agree on a few common points that insurance professionals can all agree on. They are prompt. They are timely, which is to say that they are the latest product of recent consumer interest. They are relevant. This means they can be matched to your ideal customer profile. They are also exclusive. You won’t share high-quality leads with your competitors. An inbound flow of leads that is timely, relevant, exclusive to your agency will bring new revenue to the top and make it more profitable. These leads are a great fuel for your business.
There are many benefits to driving sustainable growth through optimized lead generation. The downside to your online brand is that it can be difficult to attract new clients and convert them if you are not visible, productive or poorly regarded. There are two sides to this risk. First, your competition may be establishing their online brands without your knowledge. If your policyholders are increasingly price conscious, there could be significant attrition within your existing book. They may also start looking online for alternatives to what you offer. A strong online presence can make you persuasive. This is ground that you don’t want to give to your competitors, especially when your customers are busy searching for insurance on Google.
It may be more difficult to quantify the harm caused by being inaccessible, unimportant or poorly regarded online than the many benefits of being found when customers are searching. This is due to both relevance and timeliness. Although exclusivity cannot be guaranteed, consumers who have initiated a connection with you and are keen to share their information with others can only do so if they are actively engaging with others. If your content resonates with the consumer, it is possible that you are already considered an authority in your field and qualified to fulfill their needs. People don’t need a lot of information. Many people start by finding the right provider and asking for the appropriate follow-up.
A combination of renewals or referrals will make up 80-90% of your business this year. Referrals and renewals are the foundation of your business. They should be at the top your priority list. Rest of the revenue for this year will need to be generated from other sources. Referrals and renewals are key to your business’ stability. Your ability to retain and attract new customers is an indicator of your rate of growth. If you are happy with your existing business, how can you best address growth? How can you consistently get high-quality leads in insurance without spending a lot or falling prey to internet marketing pirates who only want your money?
Old school methods aren’t bringing new school results
Both consumers and agents have stopped liking old-school marketing methods. Many old marketing methods, no matter how well-deserved, are just as outdated as the jokes that they incite. The new interconnected economy isn’t interested in meeting you using the old methods. How does Yellow Page advertising work? It is a low-quality play to bother people at dinner, or send bulk mail to expensive or insignificant name-lists. These are low percentage plays that often result in more time, effort, and postage costs than the occasional sale. Spam is often considered spam and is rarely appreciated.
It can be costly to pay for leads, especially if you are paying for shared leads. This practice places you in a race with many of your direct competitors, which almost guarantees that it will turn into a price war that does very little to enhance your agency’s strengths and attract sustainable business. Direct marketing campaigns can be costly and difficult to scale. Direct marketing traditionally consists of events that run in parallel or in a series. The whole may be more than the sum of its parts but it is not guaranteed. It doesn’t matter if it hits the mark or not, but it is expensive and takes a long time to produce a direct marketing campaign that produces as much lead flow as an online marketing machine.
Your direct marketing efforts are crucial to your brand’s marketing strategy and should be maintained. However, they should be directed at driving relevant traffic on your website for three main reasons: to capture contact information, to provide a better experience for consumers, and to guide them through the conversion process. No matter how much direct marketing you do in the future, the primary goal should be to direct people to your main online presence, which is typically your website. This will allow them to have a richer experience and audit trail.
Send a postcard or connect online to the vast
Search is the fastest-growing part of the internet and the internet’s fastest-growing marketing medium. Forrester Research’s latest statistics show that 80% of product searches start online, regardless of whether the product can be bought online. This is an incredible number. Google is the dominant internet search engine, if the power and reach of the internet (specifically web) dominates the global marketing culture. Note to self: Think Google.
Google it is now part of our common lexicon. The coveted grand prize is to rank on the first or second page of relevant Google searches. Social media has changed the way word of mouth advertising is done. Many newspapers, magazines, and network TV are feeling the effects of blogging. The White House is tweeting its domestic and foreign policy statements. HR departments scour social media profiles before granting interviews. Friends, the landscape has not changed. Insurance professionals must develop and promote an online brand that is highly searchable and relevant to their customers. There is no excuse to fail in this low-hanging fruit field. With all the resources, knowledge and skills to make effective and powerful internet marketing, there is no excuse.
Whatever method you choose to use to subdue your online brand, once you’ve done this, you can start to reap the seemingly endless supply of quality leads that are waiting for you at your agency. Be aware that caution is necessary. Effective internet marketing is not possible without knowing the secrets. Do not be deceived by anyone who claims otherwise. Talk to someone who is qualified to discuss your agency’s online marketing strategy. Don’t be afraid of taking it on. It’s easier than you might think, and the rewards can be amazing.
