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3 Lead Magnets That Improve Insurance Sales Dramatically


It’s called a lead magnet, and if your insurance business doesn’t have one, then this article will change your mindset on how to improve insurance sales for good.



So what exactly is a lead magnet?



Lead magnets, also known as content offers or downloadable content, are an irresistible bribe offering a specific chunk of value to a prospect in exchange for their contact information.



The goal of the lead magnet is to maximise the number of highly targeted leads you are getting to catapult your insurance sales.



However, just putting together any old bits of insurance information here and there to offer in exchange for potential customers contact details won’t do.  Your lead magnet must be specific and highly relevant.



But… I have great news.



Lead magnets don’t have to be long, complex and time-intensive to create.



In fact, a long and complex lead magnet will likely convert poorly, generating less leads and sales.



You simply need to solve a specific problem with a specific solution for a specific segment of your target insurance market.



The key is that…



Your lead magnet must be consumed by the prospect for it to have an impact. The perfect lead magnet will offer great value within minutes of the prospect downloading it.



Later in this post I will provide you with a checklist so you can create irresistible lead magnets to skyrocket your sales.



But first…



How does a lead magnet work exactly?


  • Step 1: Potential customer arrives on your web page.

  • Step 2: Potential customer sees your free guide (lead magnet).

  • Step 3: Potential customer clicks the call to action and is taken to a landing page.

  • Step 4: Potential customer submits contact details on your landing page to access the free guide and converts into a lead.

  • Step 5: The lead is taken to a thank you page where they can access the free guide.




Using Chris, a startup café owner, I give you the 3 important variations of insurance lead magnets you can use to improve sales. 



1. Create Awareness About Their Problems



Educate prospects about their specific insurance problems and create an awareness of the solution without mentioning your brand.



This type of downloadable content is often overlooked but is crucial to attracting leads in their earliest research stage of obtaining insurance because it gets your foot in the door before any other insurance specialist.



Not only that…



It also enables you to provide the answers that potential customers are searching for.



Remember, helping is the new selling and this is the ultimate way to do so. If done correctly you’ll not only be known as the industry expert but increase sales as well.



For example:


Chris might be researching “How to start a coffee shop?” and comes across your downloadable guide titled “The Ultimate Checklist: 99 Tips to Starting a Coffee Shop” in Google.




Seeing that it is highly specific to what he is searching for, he clicks on the result and lands on your website's-landing page where he can download the checklist guide in exchange for his contact details.



Chris completes the form and clicks submit to access the checklist.



Chris now becomes a lead for your business and downloads the guide.



Chris reads the guide that is tailored specifically to his needs and, among a lot of other useful things, Chris learns about the problems he may face if he doesn’t have suitable insurance policies in place such as:


  • Machinery breakdown for things like his coffee machines.

  • Public Liability for unfortunate events such as outdoor shade umbrellas blowing over into expensive cars.

  • Fire & Perils if his café is located in an older building or if deep fryers are used.



You see how valuable a content asset like this can be in educating potential customers and building rapport.



Awareness stage content like this example builds urgency in the fresh lead and gives them the push to take the next step such as requesting a quote with your company because you have been the one to give them the answers they have been searching for.




2. Educate Them About the Solution



Lead magnets that educate prospects about the solution, providing educational information on specific insurance products while starting to incorporate your brand into the conversation, are more common but still only account for one third of potential customers.


Here the prospect knows exactly what their insurance problem is and knows the name of the solution/product. In Chris’s case this would be public liability insurance for cafe owners.



For example:


This lead magnet could be something like “Cafe Owners Guide to Public Liability Insurance”.




In this example potential customers like Chris could download this lead magnet as the next step after the consuming the previous guide “The Ultimate Checklist: 99 Tips to Starting a Coffee Shop”.






If searching terms such as “cafe public liability insurance” in Google a potential customer could find your highly relevant lead magnet organically.



You also have the opportunity to use paid advertising to promote these valuable content assets to generate even more leads by getting the right content in front of the right people immediately.



Using helpful content like lead magnets to promote your business and improve sales is a very smart way to get the message across to potential customers because you’re not just saying me, me, me, you’re providing them with all the educational information they are looking for.




3. Tell Them Why You're the Best Choice



If a potential customer is in the decision stage where they are ready to request a quote, all they want to know is who is the best option for them to purchase insurance from!



So now is the time to be talking about yourself and everything that makes you stand out from the crowd. This is when prospects really want to know about you and how you can serve them.



Providing lead magnets full of the most frequently asked questions about how you can help along with case studies of how you have helped previous clients is a surefire method of closing all those potential customers in the decision stage so that they are ready and willing to request a quote from you.



A great example of a decision stage lead magnet to improve insurance sales could be “How We Make a Difference at Claim Time [12 Case Studies]”.




Potential customers love to read about what has worked for others in getting results and how they accomplished it. If you were involved in helping them get it then it looks even better on your part!



The great thing about these 3 types of lead magnets is that no matter what stage a potential customer is at in their research phase, you have downloadable content that appeals to them at every stage along the way, meaning that you can capture leads at any stage in a potential customer's buying journey.



For example:


  1. When they are just starting out and don’t even know if they need insurance or what kind of insurance they do need.


  2. If they know what kind of insurance they need but don’t know where to start.


  3. If they know exactly what they need and are looking for the best insurance specialist to provide it to them.

Most insurance businesses only rely on attracting people in the decision stage and, although this is crucial, they are leaving an even bigger slice of the pie on the table and a huge opportunity for you.



Now is your chance!



Start attracting potential customers at any stage in their insurance buying journey and begin building rapport with them well before any other insurance business that only focuses on generating business in the decision stage.



Next, how to create compelling lead magnets to boost insurance sales.




Here’s my 10 point checklist of the most important factors that make remarkable lead magnets:



  • Know your customer - All good marketing begins with knowing your customer. Who is your customer? What does he or she want, need and desire? How can your products or services satisfy those desires?

  • Relevance - Your lead magnet must be hyper specific to attract leads.

  • Simplicity - Make your offer very clear so that a prospect knows exactly what they will be receiving, avoiding disappointment.

  • Speak their language - Write your lead magnets the way your target audience speaks.

  • Immediate gratification - Make sure they get value from the content straight away.

  • High perceived value - Just because it’s free, doesn’t mean it should LOOK free.

  • Use professional images - People process images faster than words. Just like the mock up image examples I have provided above. I bet you wish you could see what’s inside!

  • Answer common questions - Be sure you're answering the right questions.

  • Shift the relationship - The best lead magnets do more than educate, they actually change the mindset of your prospect so they engage in future business with your company.

  • Easy to digest - Your content must be easy to scan. Written content that is cluttered and difficult to read becomes useless. Make sure you use white space effectively.


Lead magnets continue to evolve, but one thing remains the same... they work.



The greater the value you give your potential customers, the more they will trust you when they give you their contact details to fill your pipeline with leads.



Now that you know how to improve insurance sales take action and get to it.



For more information on how you can implement lead magnets on your website download our guide “Website Enhancement for Serious Lead Generation”.