Insurance companies that spend less than 5% of the revenues on marketing and advertising for insurance lead generation end up with flat revenues. Though the digital marketing of insurance companies exceeds normal companies by almost 8%, according to a market intelligence report, the channels used for such marketing campaigns play a key role in determining the success of the marketing strategy and campaign.
Some of the key strategies which lead to the use of successful lead generation services are the following:
- Omnichannel marketing
Today’s customer is savvy, seeking competitive, personalized services and attractive packages from insurance companies. Traditional marketing campaigns have lacunae such as privacy, compatibility, and complaint issues between multiple agencies for insurance lead generation, tripling or quadrupling of manpower with a corresponding increase in the cost, and lack of integration with other apps and software. Using insurance lead generation services with a customer-first approach, digital customers can use multiple approaches and different touchpoints to interact with a business.
- Email Campaigns
Email marketing is a powerful tool to increase insurance lead generation. Emails are direct, personal, and informative. They allow the insurance companies to provide crucial information to the clients. They help convert potential clients to lead and help companies increase brand value. Email marketing is the most preferred marketing due to its high ROI in insurance lead generation. There is a great need to integrate email marketing with other marketing channels. Lead generation services can be of great assistance in email marketing.
- Webchats and chatbots
Many small companies use web chats and chatbots to enable companies to communicate with potential customers. Today, small insurance enterprises cannot hire the manpower to interact with customers and solve their queries 24/7. Webchats and chatbots are an excellent way to start an interaction with a client and convert a potential client. Lead generation services can contribute by analyzing the web chats and chatbot data into decipherable information, you can also turn to insurance BPO providers for automation of applications, sending renewal reminders to clients, following up on claims and collections, and providing complete customer profiles and analysis of their information.
- Creation of home pages and landing pages
Lead generation services help create websites for insurance companies with clearly distinguishable home pages and landing pages for specific products. Each landing page ideally takes you to a specific product where all details are delineated without any ambiguity. Insurance lead generation can perform this function. This is very important as call-to-action in the lead pages nudges customers and helps convert leads to actual customers.
- Pay per click campaigns
Insurance companies run pay-per-click campaigns. Lead generation services help analyze the effectiveness of the pay-per-click campaigns and ensure the success of your lead generation. Insurance lad generations help you run targeted campaigns by the customer, regional focus, and business segment. All of the above measures result in higher conversion rates with potential customers turning into actual customers.
Don’ts of Insurance lead generation
Following are some of the common mistakes to avoid when you consider insurance lead generation:
- Don’t run generalized campaigns targeting all channels and customers
This leads to diffusion of efforts and inadequate conversions. Running a family plan insurance campaign among single customers has no value. It would lead to a waste of time, effort, and money. Campaigns have to be focused on leading to the targeted customer groups and business segments.
- Inadequate or incomplete tracking
Digital Marketing campaigns are ineffective unless their data is analyzed and performance metrics measured. Insurance lead generation strategies help in performing data analytics and performance measurement of the most profitable campaigns to
- Improve insurance lead generation and conversion rates
- Cost per click of paying customers
- Analysing the profile of paying customers to reinsure or provide new insurance
- Not charting the buyer’s journey
Lead generation services help you analyze the buyer’s motivations, intent, and position in the cycle. If, for instance, a lead has filled up your enquiry form, he may also have filled the enquiry forms at your competitors. To ensure a successful conversion, lead generation services can provide detailed policy responses automatically. Also if a potential customer has clicked a particular insurance product and backed away without completing all the responses, your insurance lead generation call center can follow up and guide the customer and answer all his queries.
Now that you what to avoid and what to include in your lead generation campaigns, the option would be to get started and measure your outcomes. Carefully planned and timely updated strategies fetch high-quality leads that convert.