Marketing in Insurance: 8 Effective Strategies to Drive Revenue
insurance, marketing, iovox Insights, call tracking,
Marketing in insurance poses a unique set of challenges because of the complex value proposition and intangible benefits of insurance products.
But that’s not all.
As an insurance provider, you must also account for fierce competition, several regulations, and offline and online marketing channels, making your task much more daunting.
With so much at stake, how do you make the most of your insurance marketing efforts?
This post will explore eight effective insurance marketing strategies and how to use a call-tracking tool to optimize your insurance marketing efforts.
This Article Contains
- Marketing in Insurance: 8 Effective Strategies to Amplify Sales
- Use Call Tracking to Optimize Your Insurance Marketing Efforts
- iovox Insights: The Ultimate Call Tracking Tool for Marketing in Insurance
Let’s get started!
Marketing in Insurance: 8 Effective Strategies to Amplify Sales
Insurance agents must maximize offline and online marketing channels and strategies to generate more leads and sell more insurance policies.
Let’s explore eight effective ways of amplifying insurance sales:
Revamp Your Website
A well-designed insurance agency website is a vital digital marketing strategy.
It boosts your credibility and cements your online presence, regardless of whether you are an established insurance company or a new player in the market.
The best part?
You do not have to spend thousands of dollars to create an attractive website. That being said, here are some basic website design rules to incorporate:
- Showcase your brand personality using an appropriate tone of voice, logo, and colors. Also, include high-quality employee images, an about us page, a mission statement, and client testimonials.
- Adopt a mobile-first responsive design approach, ensuring the website is compatible with desktops, mobiles, tablets, and the top internet browsers.
- Include compelling and intelligently-placed call-to-action buttons, such as get a quote, click-to-call, etc., across relevant pages of your website.
- Provide your customers with a login portal and credentials, giving them access to critical policy documents and account information.
With your website revamped, you can now work on optimizing your website content and develop a robust content marketing plan and SEO (Search Engine Optimization) strategy.
Build an Effective SEO Strategy
Most insurance consumers use digital channels like Google or Bing to research different insurance companies and types of insurance products.
That means you may only appear in the search results if you have an effective content marketing and SEO (Search Engine Optimization) strategy.
With the right website content, you can improve brand awareness, generate good-quality leads, and establish yourself as an industry leader.
Here are some vital content and technical SEO tips to help you get started:
- SEO content tips:
- Brainstorm relevant topics and use digital marketing tools like Google Adwords or Ahrefs to find relevant targeted keyword variations.
- Develop your on-page SEO by adding keywords in the title tags, H1 headings, URLs, and alt text to images.
- Create quality content that is easy to read and understand, and ensure no grammatical or spelling mistakes.
- Leverage off-page SEO by writing a guest post for a reputed publication in the insurance business or sponsoring events to earn a link on their website.
- Build and maintain a compelling Google Business Profile by including all relevant business information and best-performing keywords in the business attributes.
- Technical SEO tips:
- Keep the site navigation straightforward and menus uncluttered, making it easy for visitors and search engines to find relevant information.
- Use a premium web hosting service, ensuring the page loading speed is below 2 seconds. Also, get an SSL certificate to keep your website secure.
- Add structure data (AKA schema markup), like contact information, operation hours, and product services offered, to describe your content to search engines.
- Submit an organized sitemap, allowing the search engines to discover your content.
But remember: SEO is a long-term inbound marketing tactic, typically taking 4-6 months before you start seeing results.
- SEO content tips:
Create a Social Media Presence
Insurance companies must use social media marketing platforms like Instagram, Facebook, Twitter, LinkedIn, and even TikTok to increase reach and brand recall.
Social media platforms are great for building new relationships, engaging with your audience, and providing excellent customer service.
But you’ll need to develop a robust social media strategy (especially for video marketing) and create content that resonates with your audiences across these platforms.
To get your social media marketing strategy right, you must:
- Segment your target audience based on demographics, pain points, and psychographics.
- Determine what kind of marketing campaign your target market would find relevant and engaging. For example, your TikTok audience will likely be much younger and hence would be more interested in a smaller insurance product like car insurance.
- Develop a consistent and friendly brand voice without sounding too casual.
- Identify relevant content formats, like infographics, how-to guides, webinars, contests, giveaways, etc.
- Create and maintain a consistent publishing schedule.
- Encourage your audience to share their thoughts in the comments section or DMs and engage with prompt responses.
Pro Tip: LinkedIn is a great platform to connect with potential clients and other professionals in the insurance industry if you're an independent agent.
Leverage Customer Reviews
Purchasing an insurance product can be a long-term commitment. That’s why many insurance policy buyers carefully read customer reviews before deciding on a product.
Positive customer reviews can significantly skyrocket your insurance sales and lower customer acquisition costs.
The easiest way to leverage legitimate and positive online reviews is by messaging or emailing satisfied clients or providing them with a pre-written review template.
But what should you do if you receive negative customer reviews?
Luckily, you can turn negative reviews into positive sentiments by taking ownership and rectifying customer issues.
In fact, effectively handling negative reviews can significantly boost your credibility.
But be warned: Fake customer reviews can severely damage your reputation.
Develop an Enticing Referral Program
Looking for ways to reduce your customer acquisition costs?
Then a good referral program might do the trick for your insurance company.
A referral program is a powerful marketing strategy to help you find new clients and scale your insurance sales exponentially.
You incentivize your clients to refer your product to their connections by offering gift cards, cashback offers, discounts, and more.
Not only does this reduce your efforts in generating leads, but peer recommendations are much more likely to be viewed as authentic by a potential customer.
Run PPC (Pay Per Click) Ads
PPC advertising is one of the most cost-effective ways of driving quality traffic to your company’s website or landing page.
More importantly, it lets you reach high-intent insurance buyers at the right time, positively impacting your ROI (Return on Investment).
With PPC advertising, you only pay when potential clients click on the ads.
Moreover, you can also use analytics to target and retarget clients. You can then use these learnings to refine your keyword strategy and long-term SEO goals and optimize your insurance marketing campaigns in real time.
Use Email Marketing
Whether you’re looking to create top-of-mind awareness with your potential clients or meaningfully connect with your existing customers, email marketing is a great choice.
However, you will need to collect a substantial number of email addresses.
You can build your customer base via your website, social media accounts, events, in-store signups, and more.
Here are some different types of emails you can try for your insurance company:
- Automate a personalized welcome email to new customers, informing them about the next steps and other important details.
- Use follow-up emails to nurture potential customers or as a customer retention strategy.
- Add a personal touch by wishing them well for their birthday, anniversary, and other special occasions and festivals.
- Promote new insurance product launches or events.
Adopt Offline Insurance Marketing Strategies
While digital marketing strategies have become a popular way for an insurance provider to reach their audience, offline media channels are still important.
An offline insurance marketing campaign can instill a sense of trust and familiarity. They also allow you to test new regional markets and reach customers where they are.
Some of the best offline insurance marketing strategies include:
- Handing out business cards or marketing material after a meeting or industry-related events.
- Sponsoring events that align with your auto, business, or life insurance products.
- Using traditional media such as TV or radio commercials, billboards, newspapers, and magazines.
Now, let’s say you have used these eight insurance marketing ideas and are beginning to drive traffic to your website or contact center.
How do you then determine which marketing ideas work best for your business?
That’s where robust call-tracking software can be a game changer.
Use Call Tracking to Optimize Your Insurance Marketing Efforts
An effective insurance marketing strategy significantly improves brand awareness and lead generation.
But the fact is only a tiny fraction of these leads convert.
Moreover, many insurance consumers prefer to talk with an insurance agent before deciding.
That’s why a sophisticated call-tracking system like iovox Insights is vital for insurance companies.
For starters, you can assign unique tracking numbers for all your marketing strategies and campaigns. This helps you quickly spot the best-performing insurance marketing channel.
It also helps you connect the dots across your online and offline marketing channels.
Even better: A call-tracking tool powered by conversational AI lets you transcribe and analyze phone conversations.
You discover trends, customer insights, upsell, cross-sell, and agent training opportunities. You can even increase your ROI by reallocating your marketing budgets in real time.
That means you can make smart data-driven decisions, scale revenues, and elevate your overall customer experience.
So, why should you choose iovox Insights for your call-tracking solutions?
Let’s find out.
iovox Insights: The Ultimate Call Tracking Tool for Insurance Marketing
iovox Insights is an all-in-one call-tracking solution powered by conversational AI that analyzes critical data points like customer interactions, trends, and call outcomes.
As a result, you can analyze and turn phone calls into fantastic insurance marketing ideas, improving your overall performance and revenue growth.
Let’s see how:
Improve Lead Qualification
iovox Insights offers several call tracking features that improve lead generation, like:
- Dedicated numbers: With dedicated numbers, you get 100% attribution of which sales and marketing channel works best. It’s ideal for an insurance agency that uses a variety of channels to generate leads.
- Dynamic numbers: If your insurance business spends on multichannel marketing or Google ads, then dynamic number call tracking is for you. This feature gives you campaign-level, visitor-level, and source-level tracking options.
- WebConnect: iovox WebConnect allows qualified leads to initiate a phone call from your website using any device with a browser. This is an excellent way to improve engagement.
But that’s not all.
iovox Insights allows your insurance agency to collect and analyze several data points from phone conversations, like call source, keywords, date, time, call duration, and more.
As a result, you can determine how your prospect found your insurance company and identify keywords and phrases that drive traffic or influence a sale.
Armed with the information, you can assign the right salesperson for follow-up calls and use trigger-based alerts to prioritize sales-qualified leads.
Find More Upselling and Cross-Selling Opportunities
With in-depth call analytics, iovox Insights helps you make the most of frequently asked questions, common customer challenges, and requirements.
This helps insurance agents drive meaningful conversations and deliver the right solutions at the right time.
For example, let’s say a prospect inquires about your life or business insurance product. During the phone conversation with your insurance agent, your potential customer also discusses purchasing a new BMW car.
Your call-tracking tool can process these keywords, creating a trigger-based alert for your insurance agents to cross-sell an auto insurance product.
Measure and Improve Customer Experience
Looking to create a frictionless customer experience?
With iovox Insights, you can determine if your customers got the resolution they contacted you for and if they were satisfied, frustrated, or delighted.
You can also understand if your insurance agents follow scripts and legal requirements.
This information lets you train and coach your insurance agents in call handling and sales techniques, improving your overall customer experience.
The insurance industry is fiercely competitive. But with the right insurance marketing strategy, you can create a strong online and offline presence and drive traffic and sales inquiry calls.
However, without a call-tracking tool, you may find it challenging to connect the dots across your customer journey and evaluate the success of your marketing efforts.
Luckily, with a powerful call tracking tool like iovox Insights, you can derive actionable insights, helping you build meaningful relationships, improve overall performance, and increase sales.
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