When it comes to insurance marketing and lead development, the majority (roughly 80%) of ad spend is in four categories. If you’re going to have a marketing budget, you’ll want to do one of these four things. How do you want to get your leads?
1) Direct Mail
Direct mail is the traditional method for getting in front of individuals. It still works, you just need to watch your Return on Investment in different areas. Right now, a 1% response rate is a good benchmark. If you’re getting 2.5% you’re doing well.
The downside to direct mail marketing is that you don’t have much flexibility if you need leads ASAP; you may have to wait a few weeks. However, if you want to get a consistent lead flow going, direct mail is a great way to spend your money.
Direct mail and seminars go hand-in-hand. For example, you could send out 1 mailer promoting 3 upcoming events. There are many ways to do seminars depending on how your business is structured. Whether it’s a turning 65 Medicare event or an investment planning seminar that covers annuities, these are powerful marketing models. Nobody is going to be easier to set a meeting with than the ones who showed up and listened to you simplify complex information for an hour.
While seminars present a challenge of being “geo-locked”, in general, if you can get people in the room, you’ll be able to arrange a meeting with them and turn them into a client!
3) Digital Lead Development
The third main source of insurance leads is a medley of digital tools, including your website, social channels, and Google.
Insurance agents are able to generate organic SEO leads from a content marketing engine — through a well-crafted website built to educate the users. Adding to that is Social Media lead generation, mainly using platforms like Facebook and Instagram. These Internet leads tend to have a lower buyer intent than a seminar or direct mail lead, but they will cost you less. Remember, it’s easy for a person to fill out a lead form online. If you want to get a good ROI on those digital leads, consider doorknocking.
So if you have an educational-focused website, you can build landing pages within that to drive paid traffic, whether it’s Facebook or Google. Known as “bottom-funnel traffic” people will likely Google your name or business before they attend your seminar. Further, people considering working with you will use Google, searching for answers like “how and when do I sign up for Medicare?” Or, “I’m turning 65. What should I do?” You want to send people to a landing page that shows people how to get the information they’re seeking.
4) Live Transfers (Telesales Only)
If you do telesales, live transfers are super important in the insurance space right now. It’s basically a pay-per-performance model where you use other people’s assets, leads, and data; you have a call center get the person on the phone and you transfer it over. You can do a cold transfer or a warm transfer that has a handoff.
Pro Tip: Don’t pay for transfers that don’t have a buffer.
When you’re looking at transfers, you want to pay attention to the buffer — the timeframe for when it becomes billable. We recommend a 120 or 180-second buffer, which means you don’t pay for the actual transfer until it reaches this amount of time. We also suggest you confirm that it’s authenticated data and is all TCPA compliant, especially for Medicare telesales. It depends on volume, but you’re typically looking at $35 to $45 for those (sometimes it can be higher).
- Lead IDs
- Trusted Form verification
- Send a recording of the opt in for the lead
Our Business Is Built to Do This
If this stuff seems overwhelming to you, we can help. Secure Agent Marketing is a digital ad agency that specializes in marketing and lead development in the insurance space. No one is doing more for the insurance industry than we are, and we care about your success! Start a project with us today.