New Technique for Closing Internet Insurance Leads

If you have trouble closing internet insurance leads, know that you are not alone, and may not even be your fault. You just do not know what you do not know, and until someone shines a light on your blind spots so you can see, you could not expect to be successful with internet insurance leads. There are only three reasons why you are having challenges closing insurance leads from the internet.

1. The leads are not qualified.

2. You are trying to close the lead too soon instead of focusing on building a relationship over time.
3. Your lead sales process could use some improvement. 

How do you know which is your lead problem, and how can you overcome this lead hurdle?

In this article, we support how to identify unqualified leads, generate qualified leads, build a relationship to nurture your internet leads over time, and build a sales process that closes insurance leads.

1. Marketing Lead Generation Could Be Better.

Unless you sell health insurance, you may be better off not buying insurance leads and generating your own leads. Our team ran an investigative study on the top 20 insurance lead providers. On average, their leads do not deliver an ROI for every insurance industry except health insurance. This is not to say that you cannot make money from purchasing these leads. Based on the data, these leads do not deliver in most cases. 

The issue with purchasing leads is that providers resell the leads to multiple agents. Even exclusive internet leads are often resold by lead provider companies. It does not matter if you are purchasing aged life insurance leads, health insurance leads, or home insurance leads; the lead ROI is simply not there on average. Click the button below to learn more about how to generate your own agent internet leads for as close to $0 as possible:

Before investing in leads insurance marketing, you should have created a strong marketing and sales strategy. 90% of insurance businesses we speak to in the insurance industry have a house built on mud. They should have laid a strong concrete foundation: their insurance marketing and sales strategy.

You need to create your marketing and sales lead strategy. Hence, you know exactly whom to sell your products or services to, how to reach them, make them an offer they cannot refuse, and position your offer as the ideal solution from the competition. 

You could use a proven marketing and sales lead strategy that results in new revenue for your business. That’s because you need to understand your business goals, ideal customer, and products or services, so you know exactly how to reach your customers and make them an offer they cannot refuse. 

With a clear view of your marketing and sales lead strategy, you can clearly identify a qualified lead from an unqualified lead and the best marketing and sales avenues to reach your ideal customers. You need to build sales criteria to identify sales-qualified leads from unqualified leads that are personalized based on your marketing and sales strategy. With that said, here are some general guidelines to differentiate between sales-qualified leads and unqualified leads. 

Sales Qualified Leads

• Leads who are aware of their problem and solutions and have expressed interest in your solution are generally qualified leads. When a lead is most aware is the only time you should do a hard sell.

• This is where you handle the objections in the sales process. This is where you know someone is ready to buy, and they have expressed interest in your products or services. You are just addressing concerns or questions, guaranteeing security, or adjusting prices with discounts.

Unqualified Leads

Generally, unqualified leads are a lead that is at any of the following stages:

• Unaware –

A prospect is unaware they have a problem. They have no motivation to solve a problem they are unaware of in the first place. At this point, your product or service is irrelevant. 

• Problem Aware –

They know vaguely they have a problem and a vague sense that your products or services could help them solve their problem, even if it is vaguely defined. 

• Solution Aware – 

Someone at the Solution Aware Stage actually knows that a solution to their problem exists. In the Problem Aware Stage, the solution to their problem is vaguely defined. The Solution Aware Stage is where they search for solutions to that problem. 

2. You are Pushing Insurance Before the Customer is Ready.

If you are an agent who is actually getting on the phone with a lead and turning off the contact by pushing for the insurance sale before they are ready, this is your issue. If you are an agent with this issue, you are getting on the phone with unqualified leads too. You must understand that purchasing insurance is a high-ticket item for the average consumer. 

Insurance is a high ticket considered purchase where you need to develop a relationship and build value over time before the consumer feels comfortable with making such a major purchase with you. Your goal at this stage should be to identify where your lead is in their customer journey. Are they unaware, problem aware, solution aware, product aware, or most aware?

Source:

Growth Marketer

Once you identify the stage your lead is at in their customer journey, your goal should be to create a sales funnel and nurturing process that moves the lead from their current stage to the “most aware” stage. Doing so gives you the highest probability of closing the lead, increasing your closing rate and revenue. If you are getting on the phone with a qualified lead, who is “most aware” and not closing, your sales process needs improvement.

3. It is not the Price; your Sales Skills Need Improvement.

A common assumption is that consumers only choose insurance based on Price, which leads a new agent to think the Price is the issue. In some cases, this is true, but in most cases, the issue is your sales process, not the Price or the lead. Insurance is a high-ticket item for the prospect, and you need to use a high-ticket sales process to close your prospect. “ABC” Always Be Closing is not going to work here. You will have to do multiple calls with the prospect to build value and relationships before pitching them. 

The goal should be to learn about their situation, identify problems, build them into implied needs, and then use need-payoff questions to get the prospect to say they need what you are selling. This is called the SPIN model and is proven by hundreds of scientific studies to be the most effective way to sell high-ticket items like insurance. Keep in mind this process happens over multiple calls where the level of commitment grows from each call until you close the lead. 

Whether you are a new agent, an established agent, or own a successful agency, applying a proven process at each step will work for you.

How Much Do Insurance Internet Leads Cost?

Based on our investigative research study on 20 of the biggest insurance lead providers, the average cost per lead overall is $28.81 per lead. 

How Do I Close a Life Insurance Sale?

If you are having trouble closing your leads life insurance sales, then it is one of these three lead issues:

1. The lead is not qualified.
2. You are trying to close the lead too soon instead of focusing on building a relationship over time.
3. Your lead closing sales process could use some improvement. 

We covered exactly how to overcome these three common insurance lead issues in this article above. 

How Do I Market My Insurance Leads?

Insurance marketing is the most common bottleneck we see for a new agent, established agents, and successful agencies. The best lead generation strategy is choosing the proven ways to contact your ideal customer for as close to $0 as possible. Click the button below to learn how to generate a qualified lead in scale for as close to $0 as possible.