It’s safe to say, insurance companies are becoming more and more diversified in Australia. Especially in regards to the finance sector.
Nonetheless, it doesn’t matter how many types of insurance your company sells if you continuously make these insurance lead generation mistakes.
Unfortunately, these mistakes can cost significant sales.
Read on to learn what insurance lead generation mistakes you may be making. That way, you can fix them before you take on profit loss.
1. You don’t know your prospective client’s past history with insurance agents
Most of the time, individuals will believe they’re getting some discount or promotion if they type in their personal information into a contact form.
Sometimes, this ends up being a ploy for a company to sell that individual’s information to several insurance companies.
In which case, the individual is plagued by non-stop calls by insurance agents, trying to get him to purchase an insurance plan.
The individual becomes frustrated. And this frustration re-emerges every time he must deal with an insurance agent.
So, this is who you’re dealing with. Not treading with caution and politeness will reinforce this frustration. And you won’t get the lead.
2. You’re not contacting the lead fast enough
According to a study, your chances of generating a successful lead becomes 100 times worse after 30 minutes of getting the lead’s information.
Why?
The potential customer’s time is precious. This means they aren’t waiting for a response. They’re already off talking to another insurance agent.
3. You’re not giving a discount
Insurance agents normally have discounts at their disposal. Discounts reel in the potential customer. And make insurance plans look more appealing.
Not using these discounts could cause you to lose the lead to another insurance agent, who is offering them a discount.
4. You’re not standing out amongst the crowd
Let’s face it. There are hundreds, if not thousands of insurance agents. Why should that potential customer go with you?
Failing to differentiate yourself and what you offer won’t leave a lasting impression on the prospective client.
In a couple of days after the phone conversation, they probably have already forgotten. And are on to speaking with someone else.
5. You’re failing to track your success rate
In other words, you’re failing to know why you’re gaining quality insurance lead generation.
Instead, you sum it up as you being an effective insurance agent. And that’s that.
Not using resources such as Google Analytics means you’re not utilizing your strengths because you don’t know what they are.
Perhaps you’ve been ranking high on a specific keyword. But because you don’t know that you stop using that keyword in the insurance blog content.
Which then lowers your ranking. And boom, you’re scratching your head, wondering where those leads went.
6. You’re failing to look at areas you’re underperforming in
Everyone has weaknesses. Only you’re not looking at them. This is normal (and human), however, your insurance lead generation is at stake.
Why?
Most likely because you have confirmation bias.
Which entails you’re only soaking in information that agrees with your beliefs.
Suppose you read an article about the power of business diversification.
Your leads mostly come from contact forms. (Lack of diversification being your weakness.)
You ignore most of the article, only taking in that one sentence stating in the past business people still were financially successful without diversification.
In this case, you chalk it up to if people in the past didn’t need to diversify, why should you?
7. You’re burning bridges
You make a call to a lead. And turns out, for whatever reason, that potential client isn’t interested. It could be they don’t have the money at the moment; they’re dealing with a sick parent, you name it.
Because they say they aren’t interested at the moment, you disregard them. Because they don’t help you insurance lead generation right now.
This could mean you suddenly sound bored or irritated over the phone. Or you don’t bother to follow up months after the call.
Or you don’t leave a friendly email once a month.
When the time does come around where that potential client has the money or is now available to talk about insurance, they aren’t going to think of contacting you.
Worst case, you left that bad of an impression, they aren’t going to refer others to your insurance company.
8. You don’t accept objections
So the potential client is saying they never filled out a form. Or they say they’re suddenly busy and can’t talk.
You know they aren’t telling the truth. Which is why you’re calling them out on it.
You say, “Well, I received an email notifying me that you filled out the contact form on our website.”
Or, “Well, you indicated on our website that you’re interested in insurance.”
These rebuttals don’t accomplish anything except irritating the prospective client.
In which case, you need to bite your tongue and acknowledge what they’re saying—truth or not.
9. You’re not diversifying your lead sources
That’s great, a majority of your leads come from your blog content. However, if that’s the only source, it doesn’t look too good for your future insurance lead generation.
Why?
Because you’re solely depending on this one resource. If it dries up, you have no leads. Diversification is paramount.
Because it gives you options whether one source becomes ineffective or not.
10. You’re charging for a consultation
Yes, consultations are to inform the prospective client about their options.
But it’s also an opportunity for the potential client to figure out if this is a good match.
(Remember, they haven’t fully committed yet.)
Charging for a consultation already puts them on edge, believing you’re money-bound. And that you aren’t concerned how they benefit.
Plus, charging for a consultation will lower your leads. Because not many will want to hand over their hard-earned cash for something many insurance agents offer for free.
11. You’re too aggressive
The prospective client says they aren’t interested. You keep pushing them, offering deal after deal.
By now, you’ve overstepped your grounds. The potential client either hangs up. Or patiently waits for your diatribe to end while making a conscious note to never go with your insurance company.
So, be polite and courteous, especially if potential clients express their disinterest. Remember they could change their minds in the future.
Want more information about insurance lead generation?
Lead Generation is a powerful way to access a high volume of interested customers for your products or services. Although we engage in many forms of marketing and lead generation, we predominantly generate our leads through a series of customers surveys. Consumers opt in to receiving a call or correspondence from your company, which is sent in real-time to your sales team.
Our sole focus is not to send our clients the highest volume of leads. Our success lies in the ROI of our clients. At Flagship we aim to build mutually beneficial and long lasting relationships with all of our Clients. This can only be achieved by producing high quality leads that yield a great ROI.