This is Part 3 in a series focusing on leads for insurance agencies. As I have talked with hundreds of agency owners about this very topic, generating more leads seems to be the number one desire of agents. However, I have found that in most agencies, there are numerous overlooked strategies regarding leads. So this blog series aims to address some of the gaps.

Part 1, found here, was an introduction with some alarming statistics. Part 2, found here, dealt with what counts as a lead. It turns out that many agents are missing out on some low hanging fruit, so check it out.

A majority of agencies I speak with rely on referrals as their main lead source and yet very few have any formalized internal or external Referral Reward Program for driving what they claim is their most important source of new business. Furthermore, according to Gleanster Research, up to 50% of leads are actually not yet ready to buy, but few agencies have any strategy for nurturing those leads through their buying process, much less re-engaging previously unsold leads. There are hot leads in your current book for both cross-sell opportunities and for renewals to increase retention. These should be the first place to start, while you ramp up your lead generation activity. So why aren’t most agents going after this low hanging fruit?

They don’t have time. What they mean is they don’t have an efficient means of contacting and working those leads. Which is why it is imperative in this day and age of stiff competition from the big boys, that agency owners invest in some technology, including email marketing to automate communication with prospects, clients, and unsolds in a personal way. To stay on top of this, you need a CRM system for managing your leads through the sales cycle. Never heard of CRM? Not to worry; Part 4 will address this and what to do with a lead once you have it, so stay tuned. In the meantime, let’s talk about some of the ways you can generate new leads.

Many agencies primarily use Outbound Marketing. This can include various methods to contact a potential prospect such as postcards, TV/radio ads, spam email, online pop ups, cold calling, and more. All of these can still be effective, but research abounds that says consumers today are trying to avoid being “interrupted” by unsolicited marketing pitches. Ever Tivo’d or DVR’d a TV show just to avoid watching commercials? Then, you get the concept. Today’s consumer prefers Inbound Marketing that earns their attention and interest with valuable content.

What is Inbound Marketing?

Inbound Marketing includes several activities seeking to attract the attention of your prospects. It’s connecting with prospects where they spend time (i.e. online) and on their terms due to their interest in your content. Forrester Research shows that today’s buyers may be as much as 90% through their buying process before contacting a vendor. Your online presence and brand is more important than ever. Here are four Inbound Marketing strategies you can implement to energize lead generation in your agency:

1. SEO – Search Engine Optimization seeks to put you in a position to be found when consumers are searching online on Google and the other search engines, for your services. According to Comscore, 85% of potential insurance consumers research online before buying. There are strategies that help you show up in those search results, but it is a long term project and the game is constantly changing. It pays to have experts stay on top of this for you. Ask yourself: when you “Google” something, how often do you go to the results on page 2 or beyond?

2. Social Media – Why bother with it? Forbes referred to a study that found 78% of consumers say that posts made by companies they follow on social media impact their purchases. Need more? Another Forbes article reported that 78% of salespeople using social media outsell their peers (who don’t). It is a great way to let people know about all the community outreach you are doing. People like doing business with agencies who are involved and support their local community. When you sponsor the little league baseball team, your sign and jerseys with your name on the back can be seen by the handful of parents watching their little slugger. With social media, your generosity can be seen by all of your followers and pictures and comments can be shared with multitudes more. It simply extends your reach, leading to more referrals; you really cannot afford to ignore it.

3. Blogging – Articles that inform your readers can be a critical piece of the Inbound Marketing puzzle. Showing your expertise on topics of interest builds your brand effectively and inexpensively while attracting the prospects you want. Fresh content that is relevant to your expertise is a boon to your SEO efforts, as is activity and sharing on social media. Blogs drive traffic to your website, which also helps your performance in the search engine results.

4. Responsive Website – Your website cannot continue to simply be an online brochure. It should convert a good percentage of visitors into leads. “Responsive” means that your website is automatically optimized for the size of screen accessing it whether that is a PC, Laptop, tablet or smartphone. You MUST make it easier for people to do business with you on mobile devices, or you risk losing prospects who are frustrated with having to scroll and pan around your website. “Today’s consumers are using mobile devices to access social media and business sites,” says Chris Horton, author of The Small Business Field Guide to SoLoMo. “They’re roaming the streets clutching smartphones and tablets, looking for things to do or to buy.”

What is SoLoMo? It’s an acronym for our current (and future) business environment. Consumers today shop Socially, gathering buying info from social networks and online reviews, and they want to buy Locally, to support their local community, and do it all on Mobile devices. Your business must adapt to the buying process of the modern consumer.

The above Inbound Marketing strategies blend together to give your agency maximum exposure, taking your new lead generation to new heights while you also pursue referrals, renewals, round-outs, and unsolds. Unless you have a sharp Marketing Manager on staff, chances are you may need outside help putting all the pieces together. However, it’s worth it, as your agency is sure to grow revenue over time if you put all these leads into a proper sales process for conversion into sales. This just so happens to be the subject of the next blog in this series.