Finding Recent Life Insurance Leads To Sell: Effective Strategies

Finding recent life insurance leads to sell is a challenging but rewarding endeavour. A constant flow of high-quality leads is the lifeblood of your business, and with the right strategies, you can turn prospects into customers. Here are some ways to find recent life insurance leads:

- Company-provided leads: Many insurance agencies provide their agents with leads, often using this as a recruitment incentive. While these leads are easily accessible and save you time and money, they may be old and overused, having been passed around multiple agents.

- Third-party leads: You can purchase leads from third-party lead generation companies, who source information through online campaigns. You can choose between shared leads, which are cheaper but result in more competition, or exclusive leads, which are more expensive but give you less competition.

- Social media platforms: Especially on professional networking sites like LinkedIn, you can build a reputation as a trusted industry expert and attract clients.

- Website and search engine optimization (SEO): Creating a website detailing your profile and products helps build trust with buyers. With effective SEO practices, your website can rank higher in search engine results, making it easier for potential clients to find you.

- Referrals: Satisfied customers may refer your business to others, and these referrals are usually an easy close. However, they are often infrequent, so they can't be your sole source of leads.

- Lead aggregators: Aggregators purchase leads from other websites and resell them, usually at a lower price. However, these leads are often not delivered in real time and have a high share rate, meaning the prospects may have already been contacted by several agents.

- Cold calling: This involves contacting people you have no prior connection with, and while it's a cheap option, it requires impeccable sales skills and a significant time investment.

Additionally, you can utilise digital marketing strategies like email marketing, content marketing, and social media to reach and attract verified leads. Building trust with prospects through honesty, transparency, and consistency is also key.

Company-provided life insurance leads

Benefits of company-provided life insurance leads

• You don't have to spend money to access them, saving you time and money that would otherwise be spent searching for leads.
• You can focus your energy on contacting prospective clients and selling life insurance.
• Your employer has a vested interest in your success and will likely provide support and assistance.

Drawbacks of company-provided life insurance leads

• They are not free; you pay for these leads in the form of lower commissions.
• These leads are not exclusive and may have already been contacted by your colleagues or former agents of your company.
• They may be old and overused, having been passed around multiple agents.

Other considerations

• If your company does not provide leads, or if the quality is unsatisfactory, you can turn to third-party companies that sell leads to life insurance agents.
• You can also explore other lead generation methods, such as leveraging LinkedIn, networking with professionals, or using digital marketing strategies.

In conclusion, while company-provided life insurance leads offer a convenient and cost-effective way to access potential clients, they come with certain drawbacks. Weighing the pros and cons can help you make an informed decision about utilising these leads to build a successful sales career in the highly competitive life insurance industry.

Third-party life insurance leads

There are two main types of third-party life insurance leads:

• Shared life insurance leads: These leads are sold to multiple insurance agents, meaning you will face more competition. They are less expensive than exclusive leads.
• Exclusive life insurance leads: These leads are curated exclusively for you, so you will face less competition. However, they are more expensive than shared leads.

Most lead generation companies allow you to customise your leads to target a specific audience. You can filter leads based on various criteria, including age, income, desired benefit amount, and active life insurance policies.

The biggest drawback of third-party leads is the level of risk involved. Since you pay for the leads upfront, you must close sales to make back your investment. If you fail to do so, you may end up with negative earnings. Therefore, it is crucial to assess your sales skills and closing rate before opting for third-party leads.

Social media

Establish a Strong Presence

Sign up for relevant social media platforms, such as Facebook and Twitter, and observe how brands and personalities interact with their audience. Post engaging content that showcases your expertise and positions you as a trusted source of information. Ensure your posts are consistent and frequent to maintain visibility.

Optimize Your Profile

Treat your social media profiles as digital storefronts. Use a professional profile picture, include a header image or logo, and write a compelling bio that showcases your unique selling proposition. Make sure your profiles are consistent across different platforms and complete all relevant sections to showcase your value.

Engage with Your Audience

Provide relevant and engaging content that educates and informs your audience about life insurance. Share interesting industry-adjacent topics, such as car maintenance tips or household spring cleaning, that tie back to your insurance offerings. Avoid hard sells and focus on adding value.

Leverage Different Content Formats

Use a combination of blogs, videos, infographics, and visual content to grab your audience's attention. Share stories about saving clients' money and even the bad stories about people who didn't have life insurance. Announce new product lines and cross-sell to your current clients. Host live Q&A sessions to establish yourself as an expert and build personal connections.

Monitor and Adapt

Use social media analytics to understand your audience and tailor your content accordingly. Monitor engagement metrics to see which types of posts resonate the most, and track conversions to identify successful strategies. Stay up-to-date with social media algorithms and adapt your content to maintain visibility and engagement.

Build Relationships

Referrals

A referral is when a satisfied customer recommends your business to another person. Referrals are an excellent way to find new leads as they come at very little cost and the clients are already actively shopping for a product, making them an easy close. However, they can be few and far between, so you can't rely solely on referrals for life insurance leads. Here are some tips to help you get more referrals:

• Ask for referrals: This may seem simple, but it is often the least favourite and most forgotten task when selling insurance. Asking for referrals should become a natural part of your insurance presentation. Everyone knows someone who needs insurance, so there is no harm in asking to help others!
• Follow up with your clients: A great opportunity to ask for a referral is during the servicing stages of an insurance policy. Whether you deliver the policy or not, a follow-up phone call is a perfect opportunity to ask for a referral. Clients already trust you at this point and are comfortable recommending others to you.
• Advertise yourself: There are several ways to advertise your services, including email, website promotion, blogging, and handing out business cards. While digital approaches are effective, the personal approach often works much better due to the importance of building rapport and trust with the client.
• Use a transaction-based referral system: Institutionalize the referral process so that it happens consistently, and give an incentive for your customer to give you a referral.
• Make a referral reward program: A referral reward program is an established system to thank clients who refer your agency. It can include various ideas, but the important element is that it is established, repeatable, and easy to follow.
• Get your contact information to your clients: Make sure every client has your contact information in their address book and insist on getting your details into every single phone in the house. Explain the benefits of having your phone number on hand in case of an emergency.
• Referral cards: Make up some cards with your logo, agency contact information, and a spot that says: "Referred by [Name]." Handwrite your client's name in the blank space and give it to them to pass along.
• Thank referrers on social media: When you receive a customer referral, go to your Facebook page and thank the person who provided that referral publicly. This shows the referrer how much you appreciate their gesture and should get you more referrals from them and others.
• Give two business cards: When you hand out your cards, give everyone two and ask them to hand out the second one. Come up with something catchy to say, like, "Here's one for you and one for your friend who drives the most expensive car and has the most speeding tickets."
• Join a referral networking group: Join a business networking group where everyone gets together regularly to practice their pitch, network, and give each other referrals.

Remember, asking for referrals is the lifeline to any successful sales career, and it should become a natural part of your insurance presentation. Everyone knows someone who needs insurance, so don't be afraid to ask!

Lead aggregators

Leads from aggregators are less expensive, and you can buy large lists of leads. However, they are not delivered in real-time and have a high share rate. This means the prospects may already have bought a policy or been contacted by several other agents.

Aggregators have a lower price point because their leads are not exclusive and are often shared among multiple agents. This means that life insurance leads from aggregators are generally less likely to lead to a sale.

Frequently asked questions