A Comprehensive Guide to Generating Leads For Insurance Through Networking

Generating leads for insurance has never been easy, but it isn’t hard either. The general notion is that, to get more insurance leads, you need to use more platforms. But often, the problem is not how many platforms you use, but how efficiently you use them to make insurance sales.  

The argument of buying leads or lead generation is a debate that will go on forever. There are pros and cons to both. But the long-term benefits of lead generation for your personal and career growth cannot be undermined. And while there are a ton of strategies to generate leads, the power of networking is incomparable.  

In this article, we will briefly go over how you, as an insurance agent, can effectively network to make insurance sales. 

Be Proactive While Attending Events 

Relevant events provide an excellent opportunity for getting leads for insurance. According to Oxford Economics USA, about 5-20% of business travelers’ new customers come from trade shows. Anyone who attends an insurance-related event is already interested or at least concerned about insurance. With a little proactivity, you can make a great first impression. 

For instance, try showing up early to events. If the situation favors, you’ll get to meet the organizers of the event or a representative of another insurance carrier with high connection power. Field Marketing Organizations (FMO) are also active participants in events. They can provide some great leads, and if not, at least connecting with them will do you wonders in the future. Connection will give you a chance of getting more leads. As a result, it will eventually give you more understandings on how to sell insurance and to what generation.

Make an effort to learn more about the event so that you’ll have a relevant conversation starter.

Besides, here are a few other things to remember: 

  • Know your target audience and make a list of prospective clients before the event. 
  • Research the latest trends, so you have relevant conversation starters  
  • Build your network, create connections, and collect data 

Talk to potential leads for insurance, find out the problems they are facing, and research the solutions. Approach your contacts later with the solutions that you’ve gathered. Once you’ve established rapport and built trust, then try to provide them with an insurance quote.   

Just be mindful of how you present yourself when you initiate contact with potential leads, because how you present yourself has a huge impact. An article published in HBR gives some great tips on how to make a great first impression.  

Direct Referrals 

Referrals are the holy grail of organic insurance sales. They are the most significant source of high quality leads other than word-of-mouth. In fact, a lot of independent insurance brokerages believe referrals get them more number of insurance leads in their sales funnel. While they are effective means of marketing, you can expect the best results only if they happen naturally. Getting people to refer your services to insurance leads isn’t something you can force.  

As an insurance agentpresenting yourself in a way that you can influence people is a skill that you must learn. Only then people will remember you and refer you to others. However, there are several things you can do to encourage the process:  

  • Find out who among your circle might have a relevant connection. 
  • If you refer them to the services of other professionals in your network, they’ll likely return the favor.  
  • Provide excellent service to the network you already have.   
  • Establish partnerships with other businesses to get referrals from them by offering them something in return.
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Connect people that you feel might be able to help each otherFor example: if you know a realtor who is looking for a landscaper, introduce them. Create a reputation for being well-connected and generous with your time. 

In addition, always remember that getting referrals for insurance sales requires a lot of patience. Still, once you start getting consistent referrals, finding leads for insurance won’t be that difficult.  

Getting Leads for Insurance through Trade Associations

Trade associations can prove as a hub for building quality relationships and networking. By volunteering services like free consultations on insurance, you can create a positive reputation among the participating businesses. You’ll be able to present yourself as someone willing to help. Doing so builds trust and credibility among others who might contact you or refer you to others.  

In addition, making a monthly plan can help in planning your role in trade associations. Below you’ll find sample monthly plan:  

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Leveraging Digital Platforms for Insurance Sales

If you’re not active on the Internet, you’re as good as invisible.  

Social media has already taken the world by storm. Today, you can use various tools on social media to market your insurance brand. A lot of insurance agents use social media to generate leads for both personal and commercial insurance lines.

According to Our World in Dataa data and research non-profit, there are 3.5 billion social media users worldwide as of 2019. Targeting the right audience in these platforms to make insurance sales is possible, thus enabling you to go beyond your immediate physical network and potentially reach a much wider audience of possible leads. 

Hence, it would be unwise for businesses to miss out on attracting potential insurance leads. But how do you utilize social media to make insurance sales?   

A basic cheat sheet you can follow is:   

  • Find the current trend in your industry.   
  • Connect with niche-related people.   
  • Create a monthly content plan, produce a schedule, and start sharing.   
  • Communicate with customers and businesses frequently.   
  • Finally, be consistent.   

Above all, be relevant and add value. It doesn’t always need to be about insurance, but it does need to add value to a person’s life. Share community information or repost a local feel-good article. Become the bearer of good news while informing and bringing smiles. And, try your best not to post negative spins of anything.  

While you can engage a lot of insurance leads through social media, your primary lead source should be SEO. 

So how can you make insurance sales through SEO (Search Engine Optimization)? 

  1. Site optimization  
    • Make your site easy to navigate  
    • Bring relevant links from other sites
    • Use optimized landing pages to close in more sales
  2. Blogging:  
    • Use relevant keywords  
    • Publish frequently  
    • Have a robust call to action at the end of your blogs 
  3. Local business listing:   
    • Verify your Google business account  
    • Target area-specific keywords  
    • Post frequently  
    • Promote your local business online

These are some ways in which you can leverage networking for generating insurance leads. You can try these methods and figure out which one works best for insurance sales. 

Did you find this helpful? If you have more networking hacks, share with us in the comments below. 
 

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