7 Ways to Improve Your Contact Rate with Insurance Leads

February 29, 2016
Improve Your Contact Rate

Improve Your Contact RateYour contact rate is crucial to getting more insurance leads into your pipeline and winning more sales. The better your rate, the better your business could be doing. It takes an estimated seven impressions for potential customers to remember you, each marketing effort you employ helps get you to and past that number of marketing touches. If you’re struggling for sales tips about how you can up your contact rate and get in front of your customer base, read on, for seven ways to improve your own contact rate with insurance leads.

1. Direct Mail Marketing

Yes, direct mail is an old trick, but it’s still around. Why? It works! Even though you probably dumped a handful of advertisements directly from your mailbox into your recycle bin yesterday, there are still people out there — 1–2% of recipients — who see an ad that’s the right prompt at the right time and respond.

The costs for direct mailings — list buying, design, printing, and bulk mailing — are fairly economical for most businesses. Keep in mind that competition can be stiff, with other agents sending out shared or solo mailings.

2. Outdoor Ads

A good billboard gets read, a great one gets talked about. Roadside billboards and bus stop signs can be a great way to grow your brand and name recognition. This type of advertising has its pros and cons. You’ll get great exposure in high traffic areas and you could get a couple of unexpected calls that lead to an easy sale from people ready to buy. That said, you’ll have a good bit of upfront costs — this type of advertising is expensive to create and requires a monthly rental fee — and you may not convert a high percentage of your audience with this one placement. That said, every impression matters. Your billboard could be part of a larger neighborhood marketing effort or be seen repeatedly by potential customers and it takes seven times, on average, to be memorable to a prospect.

Get Leads

3. Go Out and Meet People

Door-to-door canvassing, networking events, and referral meetings give you an opportunity to get in front of your next loyal customer. First impressions matter. So does building trust and a rapport with your insurance leads, and getting them used to hearing your name at least seven times.

Going door-to-door in your target market, setting up or just attending a networking event, and meeting with referrals all give you this opportunity to put your best foot forward with potential leads. The challenge here is not all that different from working leads over the phone. That is, prepare yourself for a significant time investment. While a networking event may only set you back a few dollars for dry cleaning or parking, this type of in-person marketing takes time away from other parts of your business. Is it worth it? Almost always! Meeting face-to-face is enjoyable for us sales types and this approach tends to be popular with some of the best long-term agents. I’d say they’re doing something right.

4. Mass Market Media Ads

If your goal is to appeal to a broad spectrum of insurance shoppers, a mass market ad campaign may be what you’re looking for. With this plan, you can reach leads via radio, TV, and newspaper and magazine ads. Like billboards, name recognition and branding will be your biggest payoffs, remembering you’ll need seven touches to make an impression on your audience.

Mass media advertising also gives you an opportunity to target specific customer profiles by choosing where and when you advertise. You’ll reaching a different lead with a daytime TV ad as opposed to an 8 p.m. ad, just as you would with an ad in the business or leisure sections of the newspaper. Cost could be a prohibitive factor for some smaller agencies, though with the right ad and the right medium, the cost could well be worth it.

5. Sponsorship Opportunities

It seems some organization or event is always looking for sponsorship. Everything from little league teams and girl scout troops to golf tournaments and fine art events routinely rely on corporate sponsors to do what they do.

For these folks the primary concern is finding financial support for their activities. But for local businesses, sponsorship opportunities aren’t just a way of showing you care about your community. You do get something in return for your investment. Banners with your name and logo, program inserts and ads, opportunities for live networking and introductions to potential partners or clients can all come from sponsoring a group or event.

Depending on the opportunity, your costs could be minimal or substantial. You generally won’t find as high a competition here as with other marketing efforts — it’s generally a sponsor’s market. And of course, whether you make a sale immediately after your sponsorship or not, you’ve gotten in front of your potential customers yet again.

6. Advertise Online

For the web-savvy, online advertising is the natural choice. Yet it’s also unlike most other campaign strategies. Your ability to focus in on specific target markets online and to track your response sets online advertising apart. Search engine marketing and pay-per-click (PPC) advertising give businesses a lot of say over who sees their ads. Only insurance leads viewing certain web pages displaying our ads or typing specific search terms into a search engine will cost you ad dollars. You’ll also be able to track anonymous details details about how these ads have brought people to your site.

Whether those leads will then convert isn’t guaranteed of course. You’ll need to provide the right solution for their needs, beat out the competition, and win the sale. Even without winning a sale, those impressions matter. Remember, seven times.

7. Aged Insurance Leads

Yet another way to improve your contact rate is to target aged leads. You’ve likely bought costly exclusive leads in the course of your insurance business and know the challenges that can come with them. Even more so, if you’ve bought shared fresh leads and felt the stress of trying to win over the lead as they’re being bombarded by dozens of other agents.