7 Ways Digital Marketing Can Boost Insurance Sales

May 31, 2021

1. Reach Your Target Audience

“Reaching the right people is essential to any marketing campaign,” writes Forbes Council Member Shawn Bryne. “Digital marketing tactics allow you to target specific people who are interested in your local company and the products or services that you offer.”

For example, if you were an agent selling life insurance, then you would want to connect with customers like parents who want to help loved ones in your absence — both short-and-long-term. You could also reach out to business owners to ensure that your expenses utilities, employees, and vendors are paid if you pass away suddenly.

How can you target the right audience? SEO should be a given-in. Preferably, local SEO since you’re most likely selling policies to a specific state. To optimize this, you would use location-specific keywords like “insurance agents near me” or “life insurance agency Chicago.”

Byrne adds, “if your business is at or near the top of that list, users will likely click on it, and you will have reached your target customers, all because you optimized your website for local SEO.”

“You also get to set your target audience whenever you create a PPC or pay-per-click ad or a Facebook ad,” he adds. “You can use age, gender, hobbies, occupation, and other attributes to describe your target audience. You can be as specific as you like when you’re targeting customers through such digital marketing platforms.”

What’s more, once you identified your audience, you can create buyer personas. These “are essentially made-up people who possess the attributes of your ideal customer,” explains Bryne. “With these buyer personas, you can target the most likely people who will be interested in your products or services.”

2. Google My Business

If you’re going to utilize local SEO, then you have to optimize your Google My Business profile. Why? Because when looking for a local business 72% of potential customers search online. Also, Google just so happens to handles over 88% of all searches worldwide.

In short, if you want people to find you online, then you need to set up or update your Google My Business profile. Don’t worry. It’s free and easy to complete by;

Verifying your business so that you can manage your listing, analyze data, and respond to reviews.
Optimizing your profile by completing your address, contact information, hours, and logo if you have one.
Adding relevant details like the types of insurance you offer and what services you provide to clients. If you want to stand out, don’t skimp on details — the Big G gives you 750 characters to describe your agency.
Confirming your location so that you’ll appear whenever someone searches for insurance near them.

Also, when creating content, such as blog posts, use location-specific keywords. And, make sure that your address and contact information is consistent across the board. For example, your phone number and street address should be exactly the same on Google, directory sites like the Yellow Pages, and your social media accounts.

3. Be an Educator and Advisor

“The average consumer can’t differentiate coverage from coverage, or carrier by carrier. It’s just a contract, a piece of paper,” Shefi Ben-Hutta, co-founder of Coverage, told Accenture. “You are dealing with a customer that simply doesn’t care. If the customer hated insurance and you were trying to convince them to love insurance, you might have a shot because there is a thin line between love and hate. But if somebody is indifferent it is so hard to get them to the other side, and that’s why you can’t engage.”

“You have to bring it down to the customer’s language,” added Avi Ben-Hutta. “Work with the premise that if you guide them, they will buy. It’s a matter of building confidence, especially in personal lines.”

And, this is where digital marketing can come into play.

Rather than focusing on selling, establish trust and credibility with your audience by being more of an advisor. For example, you could write blog posts that address your customer’s biggest pain points. You could host a webinar to answer their most pressing questions. Or, you could embed videos on your site or social media that guides them in choosing the right policy.

4. Don’t Be Antisocial

The insurance industry and social media go together like peanut butter and jelly. After all, both are all about nurturing and strengthening relationships.

Thanks to social media, you can interact with current and prospective customers by answering questions or providing on-demand quotes. With chatbots, you can offer 24/7 customer service. And, it’s an effective way to keep your audience informed about new products or services.

Just remember to not spread yourself too thin. Only focus on the channels where your audience frequents. Usually, this is Facebook, Instagram, Twitter, and LinkedIn.

5. Automate and Track Your Email Marketing Campaign

For small and midsize businesses, email remains the key driver of acquisition and retention. In fact, 81% of SMBs use email as their primary customer acquisition channel and 80% for retention.

As such, you should consider automating the following;

Monthly, weekly, bi-weekly, or even daily newsletters.
Lead nurturing emails after interacting with a prospect.
A welcome email when a leader becomes a client.
Transactional emails, such as invoices, policy updates, or appointment reminders.
Trigged emails, like a birthday or holiday greeting or renewal reminder.

Platforms like MailChimp and Constant Contact allow you to easily add subscribers and segment them into lists. You can also schedule mass emails and review data like open and bounce rates.

6. Establish a Cross-selling System

What’s the difference between a company that grows or remains stagnant? Customer retention. In fact, it’s long been said that 80% of your future revenue will come from 20% of your existing customer base.

In other words, instead of spending time and money making your pitch to new customers, have a cross-selling system where you are working with your existing customers.

Examples would be bundling, discounts, or offering complementary add-ons, such as dental to a medical plan — think when you’re asked if you want fries with your Big Mac. Let your customers know about these opportunities on your blog, social posts, or newsletters. And, don’t be afraid to use marketing automation so that you can cross-sell to the right customers at the right time.

You could also share case studies and testimonials where customers explain why they bundled policies or purchased additional coverage You could also ask what current customers would be interested in terms of cross-selling through surveys or polls via email or social media.

7. Launch a Referral Program

According to researchers from Goethe University Frankfurt and the University of Pennsylvania, referred customers had 25% higher profit margins. They’re also 18% less likely to leave.

How can you rap into the power of referrals? Consider weaving referral requests into routine client communications, such as;

Adding an incentive in social media posts and newsletters, like $5 for referring a friend.
Including a referral landing page in your email signature.
Adding a “share” button on your blog and social media posts.

Additionally, you might want to partner with businesses that have a similar client base. For example, if you sell automotive insurance, then you could have a partnership with a local car dealership or auto finance company. This works simply by exclusively recommending customers to each other’s businesses.