How Do Life Insurance Agents Get Leads?

Insurance agent leads talk

For an insurance agent, getting high-quality leads is critical. The more leads you can generate, the more potential clients you can sell your products to. But the process of getting these leads can be more complex than it appears. Here are some of the most common sources that insurance agents turn to when generating leads. 

Buying Leads From A Third Party

You might want to purchase leads from a third party. Often, these companies send out mailers or create ads online and sell the leads they get to agents. They might also aggregate the leads that others have gathered and sell those. 

Buying New Leads

There are a few reasons why you might want to consider taking this approach. First, these leads tend to be warm. Because of this, they will likely be more receptive to your message. They can also give you a lot of information. For example, you might be able to reach out just as they are about to renew their insurance policy. At this time, they will be more open to switching to a company that offers them a better deal. 

Here I am prepping refresh letters for a batch of aged leads! – I ALWAYS send refresh letters!

Buying Aged Leads

You can also purchase aged leads. This is a great option, especially if you are buying leads on a budget. I have mastered working aged leads, my number one tip is to send out refresh letters before you starting phoning the prospects. You can get all the details here in my Sling It Playbook, it covers everything I’ve learned in my years as an agent. 

If you are considering this option, you must track your ROI correctly. Otherwise, you will end up throwing your money away. My most popular webinar recording, How To Solve Your Lead Struggles in 4 Steps, covers the exact strategy I used to make $200,000+ per year. It is a detailed roadmap that will change your lead game. 

Referral Leads

One of the best ways to get new leads is through referrals. These are people who have previously purchased from you and were happy with the experience. Encourage them to tell their friends and families about you. This is one of the most effective ways to get new clients. It’s estimated that 92 percent of people trust a recommendation from a loved one over an advertisement. Getting referrals will increase your ROI on lead spend, they also have over 2x closing ratio compared to standard leads. 

There are a few ways that you can increase the number of referrals you are getting. Number one is to ask! You’ll never get them if you don’t ask. You also need to make this process as easy as possible. It should only take a few minutes for a client to refer a friend and they should feel good about doing it. Improve your referral game.

Traditional Advertisements 

One way to raise the profile of your business is through traditional advertising. This involves techniques like placing ads in the newspaper and on TV. It can also extend to things like billboards. A well-crafted traditional campaign will expose your business to a lot of people. The downside to this approach is the cost and limited ROI tracking. It can be expensive to put your ads in these places. Also, this might not be the best way to reach the younger generation, who tend to prefer digital information sources. 

Mail Drops

A good way to communicate with prospective clients, especially the senior population, is by sending out mailers. This is a letter in the mail, detailing your services and how you can add value to their lives. It is also a good way of targeting people who are likely receptive to your message. 

Cold Calling

Many insurance agents rely strongly on cold calling. This means that you’ll be calling potential prospects and giving them a pitch about your products. If you are part of an agency, you may receive a list of people who might be receptive to your message. If you are an independent agent, you will need to research to assemble this list yourself. 

Yes! I do telesales!

How well you do at cold calling will often depend on how good your telephone skills are. For a lucky few, this will come naturally. However, the rest of us need to work on this skill to build confidence on the phone. I recommend investing in a good coaching program that covers telesales. Learn more about 1:1 coaching. Phoning can be a great way to get a lot of new leads and clients!

Cross-Selling Your Existing Clients

Never forget about your current book of business. You can use your existing customer base to generate more sales. For example, if you have someone who has a life insurance policy with your company, you can try selling them final expense. This benefits both parties. You get more sales, and your client only has to go through one insurance company for multiple products. Additionally, it makes it easier for you to retain clients. 

Social Media 

A great way to gain new leads is through social media. This can give you a lot of exposure, as most people spend around 145 minutes per day on these sites. There are a few reasons why this method is so rewarding. First, it’s easy, everyone is on one form of social media or another, including you. All you need to do is to start using the tools you already have. To learn more about using your social media channels and selling to your warm market, read this article.

Social media sites are one of the places that people will go to when they want to investigate your organization. Additionally, search engines will consider your social media content when deciding where to rank your site—because of this, being active on these sites can be a great way to attract new clients without needing to spend a lot of money. 

Use Your Website

Though it seems obvious, your website is one of the first places people go to when they want to investigate your services. Because of this, it’s essential to get your website SEO in order. This ensures that you will rank highly in a search. People are most likely to click on whatever business appears first on the search results page. 

You’ll also need to optimize your site to bring in new leads. The easiest way of doing this is by making it easy for people to contact you. A great way of doing this is to place a very clear and obvious button to get a quote at the top of the website. When they fill out this form, they should provide the basic information you need to get started. Then, you can give them a call, gather more information, and recommend a policy. The key is making this process as pain-free as possible.

Network In Your Community

Much of lead generation is about getting to know new people. You won’t be able to do this sitting in your office. Get out into the community and attend networking events. There are plenty of ways that you can do this. For example, you might want to set up a stall at community events. Alternatively, you can host business conferences or seminars. 

Community Involvement

As an insurance agent, you want to make sure that you have built trust with the community. One of the best ways of doing this is through charity work. This builds your reputation while improving familiarity with your brand. 

There are dozens of ways that you can get involved with charitable causes. For example, you might want to donate funds or time to those in need. You can also sponsor community events. Another option is to connect with local business leaders. For example, you might want to organize lunches or give presentations on how they can improve their business. 

Final Thoughts

As an insurance agent, you need to have access to a steady supply of leads. As we’ve seen, there are plenty of ways that you can do this. It’s ideal to use a mix of these methods, giving you the best chance of earning new business. However, once you have these leads, the real work begins. You now need to get to work converting those leads into clients!