Life insurance is an insanely competitive industry, especially when it comes to selling it online.
On a daily basis, you are likely running into some of these common problems that life insurance companies face:
- High PPC cost
- Low conversion rates
- Very difficult to rank #1
- Differentiation from your competitors
- Generating positive marketing ROI consistently
These problems are especially troublesome to people who are running their own small operations as third party brokers of life insurance policies – which is the most popular business model in the industry.
This guide aims to help you solve these common problems, and generate quality life insurance leads on a consistent basis – all while helping you lower your online marketing budget and increasing conversions.
8 Steps to Get More Customers as a Life Insurance Company
We have worked with dozens of clients in the life insurance space, from large firms with multi-million dollar revenues, to one man operations.
Throughout our experience in the industry over the last few years, we have developed a series of lead generation strategies for life insurance companies that are effective in any niche.
1. Niche Down Your Services
One of the biggest mistakes that a life insurance company can make is offering too many products or services to be diverse, and stand as an authority in any single one of them.
Obviously, the Prudentials and the Policy Geniuses of the world go against this model, but unless you operate a business of similar scale, you should niche down your services.
For instance, many life insurance firms only sell burial insurance, while others specialize in grandchildren’s life insurance, etc…
Only you can determine which services you will sell and market to potential customers. However, this decision will affect the rest of your online marketing strategy, so give it some thought.
If you have already niched down your offerings, it may prove beneficial to consider niching even further, cutting out some of the offerings which see small ROI, and focusing 2-3x more effort, time, and money on the ones bringing in the dough.
The beauty of doing this is that you can always come back and build out your offerings once you have build a strong base of core offerings that your brand is known for.
2. Understand Your Audiences
Once you have niched down your service offerings, the most important thing you can do to generate more life insurance customers is to first understand your audience.
Let’s be more specific. You need to understand your audience’s:
- Pain points
Without this understanding, any marketing or sales efforts you make will likely underperform on your expectations.
There are plenty of exercises you can engage in to find out more about your audience. Some of the more effective methods include:
- Take a look at past and existing customers
- Ask questions of existing customers
- Take data from your contact forms and quoting engines
- Give client surveys
There are plenty of other ways to build a buyer persona for your life insurance company. If you are interesting in starting the process here, we have an entire guide dedicated to how to build the best buyer personas.
3. Segment Your Audiences
Once you have a solid understanding of your audiences, it is time to begin segmenting them in order to create effective content marketing campaigns based on their individual needs.
As you know, people looking to purchase life insurance are in a myriad of different situations. This can be based on their age, stage of life, finances, occupation, etc…
The reason segmenting your audiences is important to generating life insurance customers is because you need to present each audience with a different value in order to convert them.
For example: A grandmother who is looking to purchase a life insurance policy for her grandchild has a much different set of needs, wants, questions, and financial capabilities than a 30-something year old single mother who needs an affordable policy to provide for her children in the event of an accident.
As a result, depending on the type of life insurance you sell, you may have 3, 5, even 7 or more specific buyer personas that you need to group potential customers into in order to effectively target them with your online marketing campaigns.
Without doing this, you cannot properly execute on the rest of the steps for generating more life insurance customers.
4. Create High Quality Content That is Relevant
Once you have fine tuned your audience, segmented them, and niched down your offerings to a few core products in order to differentiate your brand from the competition, it is time to get started with the most important step to getting more life insurance customers: CONTENT MARKETING.
Content is King. If you haven’t figured this out yet, it is time to start learning everything you can about the revolution that is happening right now.
Marketers all over the world are now switching their budgets primarily towards content marketing and custom content.
Why is Content Marketing Important for Life Insurance Companies?
Check out these alarming content marketing statistics:
- 78% of CMO’s think custom content is the future of online marketing (DemandMetric)
- Content marketing generates 68% more leads on just 32% of the budget (DemandMetric)
- 78% of people trust brands who produce high quality content (Altimeter)
- 61% of customers say custom content influenced their buying decision (Altimeter)
The list goes on… The main point being that in 2019, content marketing is THE most important marketing effort that your company can make in order to generate more life insurance customers.
The beauty of content marketing is that it guides your leads through the sales and marketing funnels. This allows content to be broken up into different mediums, and made for very specific points in the sales cycle.
Benefits of Content Marketing for Life Insurance Companies
As a result, content marketing has many benefits to your brand:
- Build brand awareness
- Convert more leads into customers
- Build organic search traffic at a fraction of the cost
- Establish trust
- Display value to your potential customers
How to Make Effective Content for Your Life Insurance Company
So how can you deploy content marketing into your existing lead generation strategies?
Well, this topic would take an entire article to explain in detail. So we will keep this explanation simple, and link out to some awesome blogs that go more in depth into content marketing strategy.
#1. Prioritize Blog Content
First, you want to start with blog content. This is the primary way in which you will engage your potential customers.
This content should focus on:
- Answering your audience’s questions
- Informing them about their options
- Helping them understand complex concepts
- Giving tips and tricks to help in the process
- Displaying your knowledge in the space
#2. Make Your Blog Content Relevant
Second, you want to make sure that your content is relevant. Don’t just guess what your audience wants to read about, KNOW what they want to read about.
How can you do this?
Well, we wrote an entire guide on how to find what your customers are searching for on Google.
#3. Outrank the Competition
Third, you want to find out what is working well for your competition, and outperform their content. If each one of them have a guide to XYZ, then you can assume it is something you also want to touch on with a blog.
For those looking to learn more about what competitor content to compete with and how to outrank them, check out this comprehensive guide!
#4. Guide Your customers Through the Sales Cycle
Fourth, you want to make sure that your content is properly driving your traffic to the next stage of the sales cycle. Whether this is by offering to give your leads free life insurance quotes, or linking out to other content.
#5. Track Your Content Marketing ROI
Fifth, you want to make sure you are tracking the ROI of your content marketing campaigns by looking at analytics data. Google Analytics is one of the best tools you could ever use to track your data.
Explaining all the ways to use Google Analytics for content marketing would take a while, so instead, we created this guide to Google Analytics.
For those looking to learn more about what you should be tracking in order to measure your content marketing ROI, we also created this comprehensive guide.
#6. Repurpose Old Content
Sixth, you want to make sure that you keep up with your old content as well, upgrading content that is performing well to fine tune it even further, and repurpose old content that needs some touchups.
This allows your best content to continue to rank higher and serve your users better, and also allows old content to continually generate evergreen traffic to your site.
For business owners looking to repurpose or upgrade your blog content to generate more customers online, we created these complete guides for you!
More Content Marketing Strategies for Life Insurance Companies
If you are looking for more content marketing advice for how to generate online leads and convert them into paying customers, you should definitely check out our content marketing blog.
It is full of tips, strategies, findings, and more that can help you generate more customers easily. If you are as busy as us, and don’t have a lot of time to remember things like that, you can also join our email newsletter for content updates as they come!
If you are interested in speaking with a content marketing professional who can discuss your current content performance, and help you identify opportunities for growth, give us a call or shoot us an email for a one-on-one free content marketing consultation.
Lastly, if you are looking for some interactive and easy to use tools to improve your existing content strategy, check out our Content Marketing Tool Suite, full of free tools that can help you become a better content marketer.
5. Perfect Your Google My Business Account
If you do not already, you should absolutely have a Google My Business account. They are entirely free, and offer a suite of tools you can use to promote your business online and rank higher in the Search Results Pages (SERPs).
The main benefit that this platform provides to life insurance companies is allowing people to leave reviews for your company.
Reviews have a huge effect on search rankings, especially for searches that tend to convert more and local based searches.
Creating a Review Strategy
Knowing how important reviews are to your search rankings – and therefore getting new life insurance customers – you want to develop a strategy that helps you get good (organic) reviews from your existing customers.
This can be something as simple as offering premium reductions or deals to people willing to review your company, or perhaps sending them a gift in the mail asking them to give you a review.
6. Run (Retargeting) Ads on Facebook & Google AdWords
It is no secret that running Facebook Ads and Google AdWords campaigns is a profitable way to allocate your marketing dollars towards getting more customers for your life insurance company.
With each of these platforms displaying more than a 150% ROI on marketing dollars put into them, you can safely bet on them, as long as you execute right. When you combine this with content marketing, the results become even more dramatic.
For instance, when you provide someone with a relevant piece of content to someone through a Facebook ad, based on pages that they have recently visited and searches they have performed about life insurance.
This is an effective approach because rather than trying to get people to click right away on something that is attempting to sell to them, instead you bring them to a page that is personalized towards them.
With the demographic data that each of these platforms allow you access to, you can easily create multiple content marketing campaigns for each of your audience segments, improving your chances of converting customers even more.
Then, you can take this a step further, and even run retargeting ads to people who have already visited your site.
This allows you to make another touch point with the potential client, establishing more trust, brand awareness, and reminding them of the useful content they consumed on your site.
With the average customer taking 7 touch points to convert, retargeting campaigns are a great way to generate life insurance customers fast.
7. Optimize Your Landing Pages
Landing Page Optimization is an art form on its own. There are thousands of techniques and methodologies that go into making the best landing page.
Each individual industry has its own techniques that work best for converting leads. These are identified through hundreds of hours of testing and experimentation, and are constantly being tweaked and updated for maximum ROI.
For the life insurance industry, you should try to format your landing pages similar to this model, which has proven effective at converting more life insurance leads into customers:
This model is only as good as the content you place in each of the sections. You should try to focus the page on understanding their specific needs, and how your company provides unique value to them.
Each audience segment should have their own unique version of this landing page in order to be the most effective.
As we said above, landing page optimization is a science in its own right. To explain all the things you need to do right in order to convert more life insurance leads would take quite some time.
But, we created this guide to landing page optimization just for you, to help you make the best of the traffic you are generating with your content marketing strategy
8. Leverage the Power of Testimonials
Last but not least on our list is testimonials.
While this is somewhat on the same lines of the Google My Business tip we gave about creating a client review generation strategy, using testimonials on your site and in your content is different in terms of the approach.
It has been shown that testimonials have a MASSIVE effect on your ability to turn leads into customers.
In fact, according to research by PowerReviews, testimonials increase conversion rates by over 380% on landing pages and home pages.
Imagine that? Just by placing a few testimonials on some of your key pages, you can convert nearly 4 times more life insurance leads into customers.
You want to keep this in mind moving forward with your content marketing strategy.
Video campaigns that focus on testimonials are even more effective. With videos known to increase the conversions of home pages and service pages by over 65%, combining that with testimonials from real customers can have an immense effect on your ability to convert leads.
In such a competitive industry, you want to make every bit of traffic you get count. Testimonials are one major way to do this.
How to Generate More Life Insurance customers – Wrapping Things Up
At the end of the day, generating more customers for life insurance companies comes down to two major factors:
- Your ability to attract qualified leads
- Your ability to convert these leads into paying customers
Overall, you need to have a solid understanding of your various audiences in order to have the best chance to succeed at doing this.
From there, you need to be able to make high quality content that provides value to your audience by:
- Answering their questions
- Identifying their problems and providing a solution
- Helping them find and compare the best policies on the market
- Establishing trust
- Giving them unique content
In order to produce the best content for your life insurance company, you need to have a solid understanding of your competition, what your audience is searching for, and the content gaps that exist in your industry.
Once you have this information, you must craft a content marketing strategy that aims to capitalize on the content gaps within your industry by providing value where others do not, and by establishing your brand as a thought leader in the industry.
At Poofnewsales, we specialize in content marketing for life insurance companies. We have worked with dozens of life insurance companies of all sizes in order to help them generate more organic and paid website traffic, then convert this traffic into new customers.
If you would like to learn more about how content marketing can generate more revenue for your life insurance company, and would like to speak with a content marketing professional about the opportunities that exist within your industry, please contact us for a free content marketing consultation.
Cody Marchant is the owner of Poofnewsales.com He’s a content creation specialist who has helped 100’s of business owners create content that increases organic traffic for their websites.