Insurance lead nurturing is simply taking time to build a relationship with each prospect. Nurturing is a vital aspect of insurance lead management in which you qualify, segment and adapt your automated and personalized marketing messages to the specific needs of each prospect.
A recent study conducted by Forrester revealed that nurturing leads gave marketers an increase of 20% in sales opportunities while companies that were good at lead nurturing generated 50% more sales at a significantly lower cost.
While independent insurance agencies strive for insurance lead growth, many don’t nurture their leads actively. This means you can beat your competitors and enjoy faster and larger conversions when you use the following tips to nurture your leads.
Set Up a Lead Nurturing System and Process
A well-thought-out nurturing process will keep your leads engaged and move them rapidly through your sales cycle. To create an effective lead nurturing process, you should:
- Build up brand awareness and maintain a good collection of positive online reviews your prospects can refer to.
- Build trust, credibility and goodwill by offering useful content that enlightens your audience about your insurance policies and products.
- Follow up with every insurance lead as fast as possible using automated marketing emails and autoresponders that demonstrate your superior knowledge of the insurance industry.
- Monitor the actions of your lead, encourage feedback and give regular follow-up to keep them interested in you and your company.
Do Insurance Lead Scoring
Lead scoring allows your sales and marketing teams to qualify and prioritize leads. It involves gathering insights from sales and marketing to create the profile of an ideal lead. An ideal lead will have two characteristics:
- The prospect will be fit to purchase your insurance products. For instance, to purchase life insurance, the person must be of a specific age and have a stable source of income.
- The prospect would have interacted with your company through email or your website and demonstrated an interest in your insurance policies.
An ideal lead should be a good fit and ready for high engagement. Scoring your leads enables your agents to focus their time and effort on prospects with greater potential to complete the sales process.
Use the Best Tactics for Each Segment of Your Audience
After you’ve segmented your leads based on demographics, adopt the best approach for each group.
Focus on what each group is worried about now and use it to create an opportunity to engage with them. Understand what your prospect’s goals, needs and challenges are. Then, fit them into market segments with the same attributes. Also, use strategies for sound insurance data management to nurture your prospects with timely content on social media, email and various forms of traditional marketing.
Add Variety to Your Lead Nurturing Tactics
Due to the nature of insurance, many prospects won’t respond well to frequent sales pitches. In fact, you could easily turn them off by sending many emails without receiving a response. Use as many resources as you can to add variety to your marketing messages and channels. When email is not providing the results you expect, switch to other channels. Using social media, email, blog posts and even direct mail will allow you to discover the best approach for reaching each demographic.
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