As a less established insurance expert in an industry dominated by established specialists, it can be demoralising spending hours on the phone making cold call after cold call in the hope of drumming up new business.
Especially while the established insurance expert next door has a steady stream of leads flowing in the door day after day! The good news is you can learn how to sell insurance effectively.
You see the established specialist sure doesn’t have to worry about paying the bills this month; the only thing they are worried about is where their next holiday is going to be.
Don’t get me wrong it was a hard slog for the established businesses when they started out as well and the steady stream of leads come from years and years of hard work.
The biggest problem you face as a less established insurance specialist is that the skills passed down from the veterans to acquire new business are now outdated and don’t work anywhere near as efficiently as they used to.
So the question is, what can you do differently to grow your insurance business?
Well… the fact is that you actually have an advantage.
More established brokers tend to have built a steady flow of leads through the years of being in the business, building a good reputation along the way, therefore, they aren't looking for an online sales process that produces spectacular results.
With a little bit of direction you can learn how to sell insurance effectively and dominate an insurance niche or niches of your choice, attracting more business than you ever could cold calling 24/7.
Let me share the nuts and bolts of it with you, so that you can decide on what action to take next.
Let’s start with how your website works.
When a stranger comes to your insurance website the goal is for them to make contact so that you can begin to build rapport and secure their business.
In a perfect world it would be great if every stranger to your website simply requested a quote to kick off a client broker relationship.
Unfortunately, it is not a perfect world and, therefore, we need to provide various options for the stranger to make contact with you so that we cover the needs of as many of the different situations your website visitors find themselves in when reaching your site.
This includes when the same visitor comes to your website for a second or third time, etc. When the visitor comes back to your site multiple times they are in a different position to the last. This is what we call the buyer’s journey.
This is because each time they become a little more educated and come closer to a decision stage where they decide on using your services over the various options available to them.
So how do we cater for all these different situations?
Simply put, you create content pages on your website that answer potential customers questions at each of the stages in the buyer’s journey (awareness, consideration and decision) and provide extremely clear and precise conversion processes for them to convert into a lead on each page specific to the page content and stage of the buyer journey that the page reflects also.
A blog post answering the question ”What type of insurance do I need as a personal trainer?” is the first step in the buyer’s journey, therefore, it is classed as awareness stage content.
On this page the entry point into your insurance sales funnel for the visitor would be to download further information like the “Ultimate Insurance Guide For Personal Trainers” in exchange for the visitors contact details.
A web page that answers the question “Why Do I Need An Insurance Broker?” is the second step in the buyer’s journey and, therefore, is classed as consideration stage content.
On this page the entry point into your sales funnel for the visitor after reading the content and having their question answered would be to download further information such as “How To Choose The Right Insurance Broker” in exchange for their contact details.
The final step in the buyer’s journey is the decision stage, this is where your visitor is ready to request a quote and can do so on the likes of your product or services pages, contact us page, request a quote page or the thank you page from the previous consideration stage web page after downloading the “How To Choose The Right Insurance Broker” guide.
So you see how a clear and precise lead conversion process can be outlined on your site to cater for all potential customers with various entry points into your sales funnel. This converts as many visitors that are interested in insurance products as possible at any stage in their buying journey.
Now I hope you can see how having only one or two entry points such as contact us and request a quote restricts your ability to generate the greatest number of qualified leads and, as a result, revenue.
Therefore, it’s not about how you can sell an insurance policy to customers, it’s about providing them with the information they are searching for so they can make a buying decision with you.
Out of all the insurance selling strategies “helping” is the best of them all.
Back to actually attracting these potential customers to your insurance website.
What most insurance businesses struggle with is getting people to their site and, more importantly, the right people.
The common misconception is that you need an exceptional homepage on your site, however, the truth is that unless people are entering your website URL directly into the search bar they are most likely not going to be attracted to your website through your homepage.
It’s the hyper specific tailored content in the form of web pages like blog articles that potential customers find in Google when searching for answers.
It works like this:
I search for my insurance related question in Google and the hyper specific blog article you published answering this exact question shows on the first page of the Google search engine results page.
I see that it is the most specific article to my needs and click on it to become educated.
That is how to be successful in insurance sales!
It’s as simple as that.
This is why it is so important to be publishing regular blog articles that answer the questions your potential customers are searching online.
If you could publish one blog article a day imagine how many potential customers you could attract?
Now that the right people are coming to your website and with a clear and precise conversion path as outlined above, you will continue to increase the number of leads you generate as you regularly publish blog posts.
I want to give you a simple explanation of the conversion process by breaking down exactly how the lead is generated once they reach an awareness or consideration stage page on your website and download your content offer.
Step 1: Publish blog articles that actually answer potential customers questions.
Step 2: Provide further information in context to the blog article in the form of a content offer so that blog article visitors can download it and convert into a lead.
Step 3: Provide clear and precise call to actions on your blog article to direct your visitor to download the content offer.
Step 4: Use a landing page that is linked to the call to action on your blog article to act as a gateway to the content offer. Where the visitor can submit their contact details to access the content offer and convert into a lead.
Step 5: Use a thank you page where the visitor can access the content offer after submitting their contact information on the landing page and then take the next step in the clearly identified process on the thank you page e.g. request a quote.
The inbound methodology of providing downloadable content offers such as PDF’s, eBooks, etc, will aid you in gaining the highest conversion rates your website can achieve to generate new business, increased revenue and domination in your chosen niche or niches.
Why aren’t more brokerages using this type of insurance sales funnel?
In an industry that is dominated by long standing insurance specialists with strong referral partners, the insurance broking industry has been extremely slow in taking up this methodology in comparison to most other industries.
However, with direct insurers slowly increasing market share with their improving inbound marketing strategies it is only a matter of time before brokers are forced to play catch up and sell insurance more effectively.