Generating leads and converting them into customers is the bread and butter of any business today. However, it is also the toughest nut for any insurer to crack. In a survey conducted by the LinkedIn Technology Marketing Group, 68% of the respondents revealed that their top concern in marketing was to increase the quality of their leads. The second most important concern was increasing the quantity of the leads. So, how can you enhance the quality and volume of your leads?
It is important to note that there are high costs associated with generating qualified leads. According to a Madison Logic study it was revealed that a single qualified lead could cost as much as $60. Good leads are both difficult and expensive to generate, and this is especially true in the insurance industry. As such, to generate such leads with a high ROI, you need the most effective outreach program. This blog will detail three of the most effective outreach programs to generate leads that have a high ROI.
According to a Marketo Survey, 93% of the participants said that content marketing was more effective at generating leads than traditional techniques. Content marketing not only builds on lead quality but also builds lead quantity too. Here is how this works:
Good Content Attracts Attention
Creating content that is both educational and useful will attract the attention of potential policyholders. Think about how insurance is often confusing to the average customer and create content that is insightful and easy to comprehend.
This will quickly carve your status as an insurance resource, and people will likely sign up with you as they associate you with trust and authority.
Greater Authority Favors You on Results Pages
If you focus on creating content that answers questions that most people have, you are likely to see your page ranking on search engines improve. A higher page rank translates to more visibility. This increases the chances of getting new clients without having to spend on marketing.
Creating a Larger Social Media Presence
Good content will enable you to build large audiences on social media platforms. For example, whenever you post quality content, it is likely to be shared by some of your followers on social media. This will enable your message to be seen by even larger audiences. This might lead to more people wanting to connect with your brand. You will then work on converting the new followers into users as they already trust you.
To utilize the power of social media to promote your content, you could use this content promotion strategy:
Create good content and then share it to all the relevant social media accounts. Try and post at least twice every week.
Publish thought-provoking content on targeted social communities such as LinkedIn, Reddit, or Quora.
Publish content in your email newsletter to your targeted audience. Email marketing is, in fact, one of the most influential and cost-effective marketing channels in the digital realm. According to this article by Stray Digital, “Email marketing brings in an average of $38 for every $1 spent; that’s an ROI of 3800%”.
Delight Your Customers to Get More Referrals
Every marketer should remember that any new customer represents an opportunity to generate even more leads and this stands true especially in the insurance sector. However, this is only possible if you are able to retain the customer. When you are focused on making your consumers loyal to your brand, you are simultaneously laying a base for referral generation.
Thus, this will involve delighting your customers from the day they convert. Your business must have a personal touch, and the customer must feel special. Whether it is through emails or social media, you must stay in touch with your customers. Spruce up your relationship by sending something special on important occasions such as birthdays or anniversaries or even offer them incentives for making referrals.
Additionally, you could go old-school and send them “Thank You” letters whenever their leads convert. Another strategy would be following up with a check-in call immediately after the user converts and makes a purchase. According to ILIAA calling beneficiaries of any amount of income is a great icebreaker and a wonderful way to make a good first impression. These, and many more small gestures will go a long way in delighting your customers, and they will be more likely to recommend you to their friends.
Outreach strategies for insurers have had to change in the digital world. For you to be relevant, you need to have an excellent online presence and a favorable ranking on search engines. Also, you must always create content that is helpful and easy to digest and focus on maintaining your current customers.
Over To You
Leave a comment below, here are some thoughts we had we would like to hear your opinion on:
- What ways are you connecting with your customers?
- Do you do annual reviews, send thank you cards, birthday cards or other interesting tidbits?
- Have you been there for your client’s beneficiary?