How to Earn Commercial Insurance Leads
By Tara Seboldt—
A steady stream of sales leads grows your insurance business. You’ll want to develop a pipeline and use effective marketing to reach prospects.
In this post, we’ll look at how to diversify your pipeline to earn more leads and how to create marketing collateral that connects with clients.
Build a Lead Pipeline of Clients
Surplus lines premiums increased nearly 15% from 2019 to 2020, and the demand for commercial insurance isn’t slowing down. You can take advantage of this growth to bring in more business.
Creating a lead pipeline gives you access to continuous new leads for your business. Your pipeline also pinpoints where each potential client sits within the sales funnel. That way, you understand how to cater to each prospect—ultimately increasing your sales.
4 Ways to Build a Pipeline of Commercial Insurance Leads
There’s no one-size-fits-all approach to earning commercial insurance leads. You’ll need to experiment with different methods to find what works for your insurance agency. Below are a few ideas to get you started.
A referral program is one of the most popular lead pipeline strategies. Referrals rely on the trust of your current clients and business partners to bring in new leads.
Using a referral program saves you time as well. You’ll spend less time introducing your business to cold leads. Plus, many referral programs can be automated, so you don’t have to spend a lot of time asking clients for referrals.
A common referral program option is to use rewards to increase referrals. Offer your current clients discounts, gift cards, or cash rewards based on the number of referrals they bring to your business.
Hosting or speaking at a webinar is an effective way to show off your expertise and earn commercial insurance leads. For example, you could host a webinar that details the benefits of cyber insurance for law firms. You can explain the quoting and claim process. After the event, the webinar recording can be shared with other potential clients.
3. Cold Calling
Cold calling is one of the oldest sales strategies. While a cold lead isn’t ideal, a cold calling strategy can still fill your pipeline.
Practice your cold pitch before you start calling prospects. Use a script and keep a list of common questions to anticipate — and ease — a prospect’s objections.
Industry conferences make it possible to learn and network with professionals. You can sponsor the event or apply to be a speaker. Most conferences have a call for speakers. Look at past event agendas to get an idea of what topics would work well at the specific conference.
For example, a homebuilding conference may have a breakout session on protecting construction businesses. You could provide insights into insurance options for contractors.
Why Create Marketing Collateral to Earn Commercial Leads
Lead pipelines aren’t the only way to get commercial insurance leads. Your overall marketing strategy can bring qualified leads directly to your inbox. The key is to provide a combination of valuable content that highlights how you can help prospects.
The type of marketing collateral has a huge effect on the success of your campaigns. Modern marketing collateral focuses less on flyers and more on the power of digital opportunities.
5 Marketing Collateral Ideas to Get Commercial Leads
The goal of your marketing collateral should be to cut through the noise and connect with potential clients. Business owners are constantly bombarded with advertisements and sales pitches. Your collateral should showcase how you address and solve client pain points.
To do this, you’ll want to focus on creating high-quality content for a variety of marketing channels. Here are five of the top marketing channels.
Think of your website as a virtual storefront for your insurance agency. You want to present a polished look that encourages visitors to trust you — just like you would for a physical office.
Your website’s content should help visitors understand what you offer and why they need it. Be sure to include an About page highlighting your insurance background and unique skills. You should also have information on your services and why they’re important for prospects. Avoid using industry jargon that could confuse potential leads.
2. Blog Posts
A blog is an extension of your website that showcases your expertise and answers customer questions. Consistency is the key to a successful blogging strategy. You don’t have to post every day but aim to post once a week or twice a month. Also, your blog shouldn’t be a sales pitch. Instead, share your knowledge on insurance topics and provide value to readers.
3. YouTube Videos
People watch over a billion hours of video on YouTube every day. With people spending so much time on the platform, it’s an opportunity to use video marketing.
To get started, research video formats to find a style that fits your business. For example, reaction videos are a popular format for professional businesses. In a reaction video, the talent reviews a current event or pop culture phenomenon and ties it back to their industry.
Let’s say a popular restaurant is in the news after an incident. A customer was hurt following an unexpected accident on the premises. You could film yourself explaining the potential insurance implications of the incident, including the importance of liability insurance for restaurant owners.
4. Social Media
Your agency’s social media profiles are a simple way to engage with prospects. Focus on providing helpful information to your followers. Starting conversations that address prospects’ pain points and answer their questions.
Develop an email marketing strategy to nurture leads in your sales pipeline. Welcome new subscribers to your mailing list. You can also send an introduction email with a little about your experience helping clients. You may even want to send targeted emails for specific industries. For example, you could send an email about the importance of liability insurance for landscapers in February – right before the start of their busy season.
Gain More Commercial Insurance Leads
There’s no one strategy for earning commercial insurance leads. Consider your ideal clients when creating a pipeline and customize marketing techniques to gain their attention.