Lead generation is crucial in every insurance business as you need to bring people into your sales funnel. Boost business conversion of these leads is the key because generating leads is not enough when it comes to growing your insurance company. You can have a long list of names and contact information in a database. But, are they in the market for the insurance you’re selling?
Having a long list of leads doesn’t mean much if they don’t convert. The real bottom-line driver is the ability to move prospects in the sales funnel and lead them to the path of purchasing. However, most leads fall by the edge of a road and never become conversions because of a lack of strategy.
But hope is not all lost because we’re here to help you. We’ve compiled six guaranteed ways to boost business conversions from your insurance leads. Learn more about them by reading on.
Table of Contents
1. Focus on high-quality leads
Generating insurance leads isn’t just about bringing any prospects into your sales funnel. You need to fill it with the right people to get better conversions. Remember that even the strongest funnels can’t perform without qualified leads.
Prioritize quality over quantity. This means focusing on high-quality leads with more chances of becoming your clients instead of directing your resources to those who don’t convert. But how can you reach out to these promising prospects?
You can find several lead sourcing options out there. But purchasing leads like health insurance live transfers is one of the bests. These leads are not just any name on a spreadsheet. They are people with verified interests and ready to speak with an insurance agent to review their options.
2. Develop a strong follow-up strategy
Leads respond to sales and marketing tactics in different ways. Some are ready to make a purchase right away, while others may need to take their time. So you have to learn how to get the trust of your leads and make them feel valued.
Statistics revealed that 80 percent of all sales require at least five follow-ups before they occur. But unfortunately, 44 percent of sales reps give up after the first one. This is why insurance lead follow-ups are critical.
Remember that your prospects are most likely swamped with calls and emails vying for their attention. If you want to convert such leads into sales, you have to consistently stay in touch with them. The question, however, is how can your business ensure a follow-up that garners a response?
You need to develop a strong follow-up strategy, and here are a few tips to help you get started:
- Address their pain points: Ask them the right lead questions to know what they need and find ways to resolve them.
- Be persistent but not pushy: Don’t be aggressive when calling your leads. Always maintain a level of courteousness, instead. Ensure not to overwhelm them with too many follow-ups. Calling at least six times over can help keep your business fresh in their minds.
- Personalize follow-up messages: Instead of sending them a generic message, try to personalize it by addressing your leads by name. You can also add any concerns the leads may have noted in the fill-out forms or past conversations.
- Leverage technology: Leveraging the power of technology like a customer relationship management system (CRM) can help you run a successful follow-up process. It can help you automate and personalize messages and regulate the perfect times to contact your leads.
3. Simplify the sales process
Simplifying your sales process is also crucial in converting more leads to sales. Prospects want a seamless and convenient experience at every touchpoint. When your sales cadence is simple, these leads will likely choose you over competitors and purchase a policy.
You have to plan how your company engages with leads at every specific point of your prospect’s journey. Consider all engagement methods like calls, emails, and social media. And make sure you have dedicated workflows for each type of interaction.
Note that potential leads may not push through the sales process if they have to wait longer or make an effort to complete a purchase. Instead, they’re likely to get frustrated and find a better deal and service from other companies. So as much as possible, make it easy for your insurance to become customers.
4. Use data analytics
Understanding how your insurance leads respond at different points plays a significant role in boosting business conversions. This way, you can better identify the best ways to convert leads into sales and make informed decisions to improve any process. That’s why you have to track and analyze your lead sources.
You can use data analytics to understand your prospects’ behavior better. With data-driven insights, you can target the right messages for finding and nurturing high-quality leads.
One Last Note
There’s no shortcut and a one-size-fits-all approach to boosting conversions from your insurance leads. Instead, it’s a continuous process that you have to learn and modify now and then. The good news is that several technologies can help you get insights into different insurance-related transactions. Thus, leverage the data you have in every decision-making process.
