Some brokers and agents find selling life insurance online more appealing than cold calling, door knocking, or driving to numerous appointments. The sales process is often more complex than just setting up a website.
Successful life insurance brokers treat online sales like another lead generation method, often making it their primary focus. They don’t simply set up a website and forget about it, but instead continuously work to generate new leads.
Even if you’re undecided about how to go about it, keep reading for some tips. This article gives some helpful hints on how to be successful in the online insurance business.
Getting Started
Selling online allows you to work from anywhere you have an internet connection, so you can avoid a long commute, office politics, and dress codes.
You will need a license to sell policies to the general public if you plan to do so online. This involves selling life insurance, as well as other types of insurance such as casualty, property, and auto insurance.
The first step to creating a website is to set it up. A life insurance website should not be seen as a way to generate sales, but as a way to generate leads.
The goal of your website should be to generate leads by putting you in front of as many qualified prospects as possible. Even though you have succeeded in finding potential customers, you still have to work to convert them into sales.
The Sales Funnel
The sales process is a little like a funnel. This process starts with countless prospects. A prospect is anyone who the salesperson contacts. A small number of the people who show interest in a product or service become qualified leads. The percentage of sales that come from leads is based on your ability to close.
Website visitors represent prospects. If the website receives 30,000 unique visitors per month, it yields 30,000 prospects A website with more unique visitors per month will generate more prospects.
If 10% of these visitors enter their contact information on your site’s lead-generation page, you will receive 100 monthly leads. This means that for every 100 website visitors, you can expect to make 20 sales.
Want to increase your sales? There are three ways you can do so:
- Put more prospects into the sales funnel by increasing website visitors
- Turn more website visitors into qualified leads
- Improve their closing rate to convert more leads into sales
1. Awareness Phase
The prospect tries to learn more about how insurance plans can help them in their current situation. The goal of your content should be to address questions that prospects are likely to have. By doing this, you increase the chances that they will discover your content and find it useful. It eliminates the barriers and advances the inquiries into the next stage.
2. Information Gathering Phase
The prospect is interested in learning more about what you have to offer during the information-gathering stage. They will look for reviews, testimonials, case studies, and anything else that tells them that you can be trusted. This means creating content that demonstrates your credibility and expertise.
3. Evaluation Phase
This is the phase where prospects compare you with other companies. The organizations wants to know the qualities that make you a better candidate than others. Mentioning price is not the main focus.
4. Application Phase
Congrats! Prospects are going to become customers through the application and approval process. The goal is to quickly fill the pipeline with qualified leads.
It is important to continue to be helpful in answering questions in a timely manner to help with progress. It’s not over until the policy is signed!
Increasing Website Visitors
The best way to sell more life insurance online is to increase traffic to your site. If you want to close more sales, you need to bring in more traffic.
If the visitor-to-lead conversion rate stays at 10% and the closing rate stays at 20%, then ____. If you want to increase your monthly sales from 20 to 40, you need to get 2,000 unique visitors to your website each month instead of 1,000.
But how do you increase traffic? Consider the following:
- Paid search engine marketing (SEM): Search engines such as Google have paid advertising programs where website owners can bid on keywords and pay for each visitor generated from web searches. SEM can be an effective way to increase traffic, but competition for high-traffic keywords is steep, resulting in high bid prices.
- Organic search engine optimization (SEO): Search engine optimization involves optimizing a website to appear at the top of organic rankings for certain keywords. Website owners can accomplish this on their own or hire SEO specialists to do it for them.
- Social media marketing: Integrating a website with social media such as Facebook, Twitter, and YouTube is a highly effective way to increase traffic.
Converting Visitors to Leads
It is not useful to have a lot of visitors to your website if they do not result in leads. Your website should be designed both to appear high in search engine rankings and to compel visitors to submit their contact information.
If you want to convert website visitors to leads, one effective method is to offer a free report on life insurance in exchange for the person’s name and email address. You can also promise to provide free quotes that can only be received by email.
Increasing Closing Rate
Qualified leads are important, but you have to close sales to make money.
A website that is the best and most visible in the business is not going to be helpful to a broker who doesn’t know how to work the sales funnel to convert prospects to leads and then turn those leads into sales. No matter how good your website or digital marketing strategy is, you still need salesmanship skills to be successful.
Tactics to Help you Sell Insurance Online
1. Build a Life Insurance Website
A website for an insurance business can be straightforward. The decision is up to you based on your budget and what you need.
A company that specializes in creating websites for life insurance companies offers tools to help build a website from the ground up. Elementor and Weebly provide packages that allow you to build your website from scratch without design or code experience.
One website that gets 1000 unique visitors each month generates 1000 potential customers. Ten percent of visitors to your website provide their contact information in exchange for your insurance policy or service.
That’s 100 fresh leads a month. An insurance agent who has a closing rate of more than 10% may sell 10 to 20 policies each month through their own website without having to do much work.
2. E-mail Marketing can Bring Results for Years
Even if life insurance agents manage to get more people to join their email list, there will still be many people who never buy anything. Your email should highlight recent developments in the insurance industry that would be useful for your potential customers to know about.
It’s important not to come across as pushy when sending emails, as this will make people less likely to want to stay on your mailing list. Instead of focusing on selling them insurance, focus on helping them understand the insurance process and what options are available to them.
You could also encourage people to take action by including a CTA, such as “Get a free quote” or “Request more information.”
3. Social Media is Great for Building Trust
Selling life insurance products through a social media platform is not enough. Agents need to share helpful content to build a relationship. The more you sell on social media, the less you sell.
Most people do not respond well to hard selling tactics, but are more likely to make a purchase from someone they know and trust. If you are viewed as an expert in your field, people will be more likely to buy a policy from you when they are ready to make a purchase.
Share content on social media that will be beneficial to those you are trying to reach. This could include blog posts, infographics, and other useful information. You can use social media to advertise your products or services.
4. Blogging is Great for Providing Answers to your Audience’s Questions
If you want to increase traffic to your website, blogging is an effective way to do so. Blog about topics that will be helpful to your target audience.
If you’re in the insurance business catering to seniors, blog topics could include “10 things every senior should know about life insurance” or “5 mistakes to avoid when buying life insurance.”
If you want to rank higher in search engine results, create helpful content that will attract qualified prospects to your website.
A blog can also be used to promote and sell products or services. You could write a blog post entitled “10 reasons why you need life insurance” and then include a call to action at the end of the post urging people to get a free quote.
There are a lot of opportunities for insurance companies and agents to write relevant content. If you’re not already blogging, you’re missing out on a huge opportunity.
The FA Advantage is a community of like-minded individuals who share information and resources to help each other become better online marketers. You can access thousands of insurance-related words to use as you please.
5. SEO can Work for Your 24/7
In order for people to find your website, you need to optimize it for search engine optimization. This means that you should use keywords related to life insurance on your website and in your content so that people can find you when they are searching for information on this topic.
Make sure to incorporate your list of keywords into your website and blog posts. Choose keywords that are relevant to your website content to help you rank higher in search engines and bring more visitors to your site.
Agents and insurance companies that are not affiliated with one another have a great opportunity to capitalize on. Do not blindly get subpar content or cheap backlinks as they will only hurt your site.
If you are unsure of where to begin with using search engine optimization to generate long-term results for your business online, this guide will help get you started. If you want to improve your website’s ranking on search engines, you should talk to an SEO specialist or marketing consultant.
6. Advertising Scales up Your Pipeline
PPC advertising is a great way to get people to visit your website. A life insurance agent can, for example, use Google AdWords or social media ads to sell insurance policies.
When people click on your ad, your website will open and they can learn more about your offer.
7. Online Education Through Webinars is The Ultimate Trust Builder
Webinars can be used by insurance agents to sell policies and services. For example, you can use a webinar to give a presentation on a particular life insurance topic.
You could do a webinar on topics such as “10 things every senior should know about life insurance” or “5 mistakes to avoid when buying life insurance.”
Webinars can help push qualified prospects towards the application phase. Make sure your content is valuable and save the sales pitch for later.
Conclusion
There are a few common mistakes people often make when setting up their online insurance businesses, even though all of this is important. Make your site as user-friendly as possible.
It can be frustrating having to search through a complicated website to find basic information. Make sure to give your potential customers all the relevant information they need in a clear and concise way that is easy to see.
It is important to keep your quote form as simple as possible. If you ask too many questions, it can make potential customers not want to talk to you. Make sure you request the following details from them: their contact information, so you can get in touch with them when needed.
And don’t request personal or private information. It is important to be trustworthy in today’s world.
You can help your prospective clients make informed choices by providing them with the necessary tools. This could potentially include calculators to make the quoting process simpler. This allows them to determine which product is best for them and their lifestyle.
It also helps you understand how to adjust your sales approach to them, so you’re more likely to sell a policy that meets both their budget and needs.
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