The first step to marketing life insurance is to decide who you are going to marketing to. What does your target market want? keep that in mind as well delve into this article on marketing life insurance…
Lets consider why people buy life insurance.
Most people buy life insurance because they know that either their family will be totally devastated from the loss of one or both income earners, and/or a business will fail as a result of the owner or owners premature demise. The reasons people buy life insurance vary. Some people buy it for the tax advantages, some buy because they have to. Did you know that many divorce settlements require the income earner buy life insurance (or more of it)?
Those are the ‘logical’ reasons that people buy life insurance.
But the overriding reason that families buy life insurance is because they love their families and they know that it is the right thing to do for the loved ones that depend upon them emotionally and financially.
Marketing life insurance is not an easy undertaking if you are starting from square one. After all, there are hundreds of life insurance companies, thousands of life insurance agents, and hundreds of online life insurance lead generation companies to compete with.
But it is possible…
Here are 6 life insurance marketing tips:
Life Insurance Marketing Tip #1: Target your market. Study the market you are targeting. What keeps them up at night? What makes them happy? What do they want most when it comes to their family, profession, hobby, etc.? Some target markets want life insurance for business reasons, tax benefits, or simply for love. Find out what is the major ‘hot button’. Use it in your life insurance marketing.
Marketing Tip #2: Choose your media. Choose one or combination’s of media that your target market is most likely to be responsive to. Do they read trade journals, newsletters, or newspapers? Do they belong to associations? What websites do they frequent?
Marketing Tip #3: Write your copy or hire a quality copywriter. Whether you are writing a radio spot, TV commercial, viral video, PPC, or direct mail letter, copy is king when it comes to marketing life insurance (or any product for that matter).
Do not use ‘we’ if possible. You must always write to them. A good rule of thumb is to use 4 ‘you’s’ for every ‘we’ or ‘I’ in your ad copy.
Life Insurance Marketing Tip #4: Test Small. If you have the budget for a big test, by all means go for it. But a better way to go is to roll out a small test. Measure your results. And then roll it out again on a bigger scale if the numbers are looking good.
Life Insurance Marketing Tip #5: Lead Generation. In my opinion, you should focus on generation life insurance leads. In other words, 2 step marketing. One step marketing is where you do all the selling in one step and hope that you’ll make a sale. In 2 step (or multi-step marketing) you focus on getting people interested in what you have to say by asking for more information, and then follow up with until the ‘buy’ or ‘die’ (as they say).
Life Insurance Marketing Tip #6: Affordable Print Advertising
There are several sources of affordable print advertising. Local newspapers are what most immediately think of but its great to think outside the box. Consider placing ads in magazines that are directly related to the type of insurance you are selling. For example, life insurance print ads in a financial magazine are a good mix. Other forms of affordable print advertising can be found in direct mail outs our next area of discussion.
Life insurance marketing tips side bar: Print advertising can be expensive, so budget accordingly. Test small ads and mailing pieces first.
Life Insurance Marketing Tip #7: Direct Mail Outs
Direct mail outs offer plenty of affordable options for life insurance leads. Something as simple as a postcard can be used or something more sophisticated such as a free booklet packed with useful information on life insurance is also an option. The key is to choose what fits your budget. You’ll need to decide how to get the most out of your budget. You might choose a simpler format like the postcard and distribute to more potential clients, or you could choose the more expensive booklet and distribute to a smaller potential client base.
When doing direct mail outs keep in mind that targeting your market is important. If you just mail out without thinking about your target market you will be sadly disappointed. You know who your target market is. Use that information to get the most from your direct mail out. Direct mail is a good way to generate qualified insurance leads.
Life Insurance Marketing Tip #8: Pay Per Click Ads
You can create online life insurance lead generation using pay per click marketing. Yahoo, MSN, and Google all offer their own version of pay per click. How does pay per click work? Let’s have a look.
Let’s say a person does a search on Google for life insurance. Google will then display your ad with the search results. That means you have a targeted lead because when the person clicks your ad its because they were searching for life insurance.
The drawback to this type of marketing is that you pay each time a person clicks one of your ads. How much you pay depends on how much you bid for ad placement. The more you bid the more your ad is displayed. There is plenty of excellent information available on pay per click marketing to get a full understanding of how this unique form of marketing works.
Life Insurance Marketing Tip #9: Online Insurance Leads
Online life insurance lead services have changed the way agents target potential clients. This one source of leads can be very lucrative. How the lead service works depends on the lead service company you are working with. It’s important to do your homework so that you and the internet insurance lead service are a good fit. There’s plenty of flexibility with this lead generating tool, and it’s definitely one of the best-kept secrets around.
Life Insurance Marketing Tip #10: Insurance Lead Telemarketing
Insurance telemarketing is a tough nut to crack. But it can pay off especially if you have a good telemarketer. You response rates can improve if your telemarketer or telemarketing company are following up on an effective direct mail piece.
Contact a insurance telemarketing lead company. With a recession in full swing, many businesses and families are looking closely at their insurance coverage to make sure they have the necessary coverage to provide peace of mind. The telemarketing company will design a message specific to your business and the services you are offering. Review their scripts and test their telemarketers yourself.
If the laws in your state allow for it, you can test an auto dialer. Your message will be auto dialed to the number of leads you contract, and the message will end with a hook such as “to learn how to save half the cost of insurance, press one.” Those that make the connection are a “hot” insurance lead.
- insurance-leads-advisor.com -
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