Without exception, everyone in the insurance industry always has one huge pain point, and that is lead generation. Most agencies want to get their phones to ring.
Leads for insurance are hard to come by because the industry is so competitive but also lucrative. Because it is so lucrative there are hundreds of lead companies out there that claim their leads are the best leads and that is usually far from reality.
Most agencies get stuck in a loop of buying leads, closing them and breaking even and don’t know how to get out of it.
The good news is that digital marketing provides a fair playground for everyone to play in.
1. The Challenges
The reason it’s so hard in the insurance industry is that the life insurance companies are worth billions of dollars. This allows them to have huge funds to throw at marketing without worrying about the casualties, which are usually the very agencies trying to sell their products.
A perfect example of this is PPC advertising on Google. If you decide to run a campaign, you can pay as much as $140 per CLICK!
This means that even if there is no action taken on your website, you’re charged thirty dollars, just for the click.
Even if you convert really well, you may end up just breaking even at best. 10 clicks will probably get you a lead or two and the chance of them turning to deals especially deals that place is slim.
2. Need Leads Now? Do Facebook Ads
Facebook is a great alternative to Google because it tends to provide a much better cost per lead (CPL) than Google.
Usually, though, the deals don’t quite convert at as high a rate as Google does.
This is because on Facebook there is no intent. The user isn’t out there searching for this like they are when they’re on Google.
You just happen to show up on their feed and capture their interest. However, given the high cost of PPC ads, the CPL for Facebook and later the cost per acquisition (CPA) will still be much better.
Let’s talk a few tips to get it right.
2.1 Tips to do it Right
When it comes to Facebook ads, there are a few things you want to be mindful of.
Let’s dive into a few things that can help you get your campaign right.
2.2 Focus on Lead Generation AdsMany people in service industries make the mistake of targeting website traffic when advertising on Facebook. This is a mistake because it creates two barriers that the viewer has to go through to become a leads rather than one, one on your ad, and then one on your website.
Lead gen ads allow you to create a lead form within the Facebook ad that won’t require them to leave the feed.
On top of that, it will auto-populate the info for you so they don’t have to spend time filling it out.
2.3 Niche Down Your Targeting
One thing that you want to do for sure is to niche down your targeting. Focus on a specific target audience that you want to pursue. This way you’re not confused about where the leads are coming from.
If you target too many demographics at once, then you may dilute your ads and get a high CPL, as well as not know what’s working. If you want to test different targets, create different adsets for them.
2.4 Test Everything
One thing you want to make sure to do with Facebook ads is to test everything. The only way you will improve your CPA and your CPL is you constantly test a better way to run the ad. This includes ad images, call to action text and targeting.
Try different things and don’t be afraid to change it up.
3. Can you be Patient? Do SEO
Another great source of marketing for insurance agents and agencies is SEO.
SEO will allow you to generate traffic to your website and generate leads, without having to pay for them.
The only downside is that it takes time, especially in insurance niche.
Sean Dudayev is the Founder of Frootful Marketing and is currently helping agents with their marketing efforts.
He recalls his struggles when starting his own agency: “We were in the same place many agents were, buying leads. We moved to SEO aggressively when we got tired of the rat race. We stuck with it for 12 months and our second year was generating over 500 organic leads a month. This made a huge difference in our business. I always tell agency owners that organic leads should be a priority for them. Not only do they convert better, but they also provide better overall customers. It’s a long term strategy best started today.”
3.1 Tips to do it Right
Let’s follow some of Frootful’s tips for SEO for insurance.
3.2 Find Your Niche
Niche seems to be a popular word when it comes to marketing in insurance. Google will always prefer a specialist over someone that focuses on general product lines.
This is also true for your visitors as they tend to convert higher on websites that are experts in a particular subject. With SEO, pick a subject and get after it.
3.3 Write Amazing Content
Most agents make the mistake of withholding information because they think that the client will act on it themselves and not need them. The reality is much different.
What clients instead end up doing is seeing you as an expert in your field and gain trust in your expertise. Better content converts better and ranks better, go as in-depth as you possibly can.
- Search Intent Optimization: Optimize Your Content For User’s Search Query
- How To Create Quality Content for Affiliate Marketing Blogs
- Getting the Most Out of B2B Content Syndication
3.4 Build Your Links
One of the biggest ways to earn Google’s trust is to build links. Make sure to reach out to other websites and offer them free content in exchange that you leave a link posting back to your site in return.
This will tell Google that these sites trust you and they will move you up in ranking. Make sure that these websites are relevant to yours and are also of high authority.
On top of getting you a link, this also has the dual benefit of allowing you to tap into that website’s audience.
- 41 FREE Sources for Instant Backlinks to Your Content [With Real Examples]
- Why Backlinks Are Still Playing a Major Role in SEO
- How to Get Powerful Backlinks with Blog Commenting
4. Get to Work
At the end of the day, this all only works if you do.
Do your best to get your name out there and launch both of these campaigns to take care of the short and long term.
If you’re an agency, your team and your bottom line will thank you for it.