How to Generate Life Insurance Leads

How to Generate Life Insurance Leads

Leads are like oxygen for businesses; without them, they soon fail. One of the first priorities of any business is to ascertain where their leads are coming from. This process is called lead generation. There are a variety of ways to achieve successful lead generation.

Postal Marketing

Postal marketing is a really affordable way to generate life insurance leads. This is especially effective when your business is targeting prospective clients locally.

Generally speaking, postal data can be bought in at a very reasonable rate. And, since people move house far less often than they change their phone number or primary email address, it tends to be more accurate, too.

Typically, market research suggests that postal marketing data is responded to well. Respondents say it’s less intrusive than other forms of marketing communications. In addition to this, postal marketing tends to work very well when targeting older market segments.

Postal marketing is not dead, and ROI is growing.

Television Advertising

Television advertising is without question the most expensive form of advertising. It is also one of the hardest to measure ROI.

For instance, if a consumer sees a TV advert for a new car and then chooses to buy one, how can the car manufacturer be sure that the TV advert was the source of purpose inspiration? Without asking, they can’t. Even if they did, a lot of consumers may have made the connection between advertising consumption and purchase decision subconsciously.

Despite this, TV advertising is still the second most popular form of advertising; behind only digital ads in terms of gross spend.

It’s worth noting, that this place shift only happened two years ago. Digital ads jumped TV ads in gross spend in 2020.

Some of the largest and most respected Life Insurance providers, or providers of similar products use TV advertising to great effect for lead generation. These companies include Royal London, British Seniors, Pure Cremation, Legal & General, and the Post Office.

Digital Marketing

There are plenty of different tools in the digital marketing toolbox to generate life insurance leads. Typically, digital advertising proves to be the most popular marketing action.

Almost all life insurance brokers and providers use digital advertising to some degree to generate leads. That’s because an estimated 34% of consumers would search for an insurance brand online prior to purchasing. In addition to this, 28% of millennials would buy life insurance solely online.

A huge benefit of digital lead generation is that measuring ROI is hugely accurate.

Telemarketing  

Telephone marketing is possibly the most cost-effective method of lead generation. This is because there’s a variety of telemarketing products you can buy; with some so affordable, only a few sales are necessary to make a large profit.

There’s a wide variety of life insurance data products to choose from. If you want accurate leads in volume, life insurance data lists may be for you. However, if you like freshly generated leads, hotkeys or life insurance leads may be a better choice.

Telemarketing data is generated in call centres in the UK or offshore. Prospects are asked whether they have life insurance or are interested in life insurance, and they’re asked to opt-in for a call back. If you buy accurate and reliable life insurance leads for telemarketing, the rewards can be enormous. This is due to the fact that the prospect has already provided some information and had a receptive call with a lead generation agent already. It’s the only form of lead generation that can provide this.

Email Marketing

Lead generation via email marketing is tricky business since GDPR regulations came into effect. However, it is still possible and totally legal.

Before beginning an email marketing campaign, discuss and deliberate whether this really is the right campaign for you.

If it is, then you need to do some research and find a reliable and respected email marketing agency. To compliantly contact consumers about life insurance, the agency will need to supply you with opted-in life insurance consumers, but, the agency (or whoever collected the emails) will need to manage the send for you.