Auto insurance provides customers with financial protection against physical damage to the vehicle. It makes every vehicle owner a prospect by default. Also, federal laws require drivers to carry liability insurance so that they can cover the cost of damage to people or property in the instances of accidents. Every state in America requires all drivers to carry an active car insurance policy.
Therefore, auto insurance is always on demand. In this article, we will discuss the 25 best ways to generate auto insurance leads.
Collaborating with stakeholders from the automobile business is one of the most promising ways to find auto insurance leads. You can also indulge in digital collaborations. Here are the strategies.
Buy Auto Insurance Leads For Agents From The Best Providers
Buying a new car or a bike has traditionally been an offline process. Even with online auto dealers and aggregators now an important part of the ecosystem, a key part of the buying cycle is still offline. People visit the dealers, test drive, negotiate, and then arrive at a buying decision even though they have already done a lot of research online. Even though car buyers spend 59% of their time researching online, 61.4% of buyers prefer to buy from a dealership.
After a customer decides to buy a car or a bike, then comes the insurance discussion. Buyers know that its mandatory, but they want to get the best coverage. At this moment, the dealer is the main influencer.
You can collaborate with the dealer so that he suggests your insurance services to the customer. In return, you can offer a certain commission to the dealer, which you would have offered to your agents anyway.
Top 5 Ways To Keep Auto Insurance Leads Engaged
B2B2C marketing is a relatively new strategy. Apart from their websites and digital marketplaces, Auto Insurers have started looking to lure the audiences of many different businesses.
For example, in 2019, in India, Acko, a leading InsurTech partnered with Amazon to sell car and bike insurance on its platform. You can imagine the customer reach these marketplaces have.
A referral network is a group of professional colleagues, business, or websites that can help in promoting your business in their network. In terms of auto insurance business, referrals like insurance news websites, insurance marketplaces, etc. can help you find exclusive leads.
Real Time Auto Insurance Leads For Agents
For this, you need to identify the popular websites that can promote your business. For example, when you search for best car insurance companies, you’ll probably land upon one of the sites like cnet.com, bankrate.com, simpledollar.com, to name some.
You can partner with such digital sites, to showcase your services. The following is a screenshot from cnet.com that lists auto insurance services on one of its pages.
People who want to buy car insurance, compare price and policy benefits on insurance marketplaces. Some of the popular marketplaces or brokers for auto insurance in USA include BuyAutoInsurance, Nationwide, Insurance.com, Compare.com, and many more. Similarly, you can find the popular marketplaces in your country or region.
A Better Alternative To Aged Auto Insurance Leads
Participating in automobile events can also help you find leads. People who attend such shows intend to buy a car or a bike in a near future. So, they form great prospects. Moreover, you can network with participating companies and explore partnership opportunities at such events.
There can be a variety of auto shows in different categories like vintage, luxury, motorbikes, commercial, etc. Based on your products and offerings, you can shortlist such events. You can use sites like 10times.com to find the schedule of these events.
An important point to note here is – if you’re a company who wants to send your field sales team to find potential customers, you can use mobile CRM app to speed up lead capture into your system. Otherwise, it could take a lot of effort to manually enter lead records later.
Auto Insurance Leads And Calls From Contactability
People who have enrolled in driving lessons are warm prospects. You can communicate your offering to trainers, who, in turn, can influence learners to buy your car insurance policies.
You can also give your business card to the driving school tutors so that potential customers do not find any difficulty in locating you.
Inbound leads are the most inexpensive ones. Prospective customers who reach out to you for your services on their own are inbound leads. Creating a source that generates car insurance leads throughout the year takes time and effort. It is also a great way to generate free auto insurance leads. The following are some of the strategies that leading car insurers heed.
Why You Should Be Selling Auto Insurance Leads
Plugins like quote generators, premium calculators, and more are the most popular add-ons to the insurance websites. They directly answer the customer query, and at the same time, help you find prospective customers. For this, all you need to do is – ask your website developer to prepare a piece of code as per your business logic.
Offering eBooks in exchange for the customer’s email id or phone number is another way to find prospects. In terms of the insurance industry, you can create eBooks such as car maintenance tips, Handbook for Insured, etc.
Well, the answer is simple. One, you will get to know people who own a vehicle. Two, by providing some useful information, you can gain their trust. After you have their email id or contact number, you can nurture them through emails and calls.
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For example, Crosley Law, a law firm in the UK, offers insights on rules and regulations that can benefit the customers. Insurance firms can also adopt the idea.
If this idea sounds good, then you must also think of ways to automate the next processes. For instance, will you manually update all the lead information, or you would like to invest in a CRM (Customer Relationship Management) solution to organize, track, and update the lead status. Consider insurance software like CRM to streamline your lead-gen and sales operations.
Influencer marketing is a form of social media marketing. Here, influencers, that is, the subject matter experts and celebrities, endorse a product or brand and influence the people in their network to make a purchase.
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It is crucial to identify influencers in your product category. While celebrities fit in almost all types of brand endorsements, you can also reach out to thought leaders and experts on a particular subject to promote your insurance policies and generate leads.
For example, Adam Lyons, CEO & founder of TheZebra.com, helps users understand car insurance. People trust influencers and follow their lead. Hence, influencer marketing is also becoming a popular source of finding qualified leads.
If finding an influencer looks challenging, then you can also include customer testimonials on your product page to influence the visitor’s buying decision. Nowadays, the combination of people (influencers) who have a know-how of this subject and customer testimonials work wonders for lead generation.
Out Of The Box Auto Insurance Lead Gen Ideas
If you want to speed-up your sales, then buying auto insurance leads from agencies is also an option. However, you must know good auto insurance lead providers, else you’ll end up calling prospects who will never convert. To avoid this, ask for samples and read reviews of the agencies.
Depending on your preferences, you can buy exclusive or shared leads from agencies. Exclusive leads are higher in cost than shared leads because they are sold only once (to one provider). That is why they are best for individual agents as they have higher chances of conversions. On the other hand, shared leads are the ones that lead agencies share with many individuals/insurance firms. So, you will need call-centers or in-house sales teams to nurture them.
Transfer leads are the most impactful lead types available. These are the leads that are prequalified by agencies. Also known as warm leads, they have higher chances of conversions. In the auto insurance sector, agents have been able to close over 50% of auto transfer leads.
Auto Insurance Lead Generation: Everything You Need To Know — Agency Mvp
Advertisements are a timeless means of lead generation. There are so many places where you can advertise. Moreover, the rising digital interactions have brought forth new opportunities for advertising on online channels. The following are the tried and tested methods of advertising for lead generation.
There are over 121, 000 gas stations in the US. Almost every driver visits a gas station at least once a week. And if you see, these visitors are very likely to renew/switch to a different insurance provider – the one who provides better rates and benefits.
So, you can advertise your services through flyers, posters, or even leave your business card at the cash counter. You can also communicate with the cash-counter staff to distribute your business information.
Here's Why Insurance Agents Need Lead Generation Companies
People who own a car have a bull’s eye on the aesthetics of other cars on the road. Therefore, you can also consider advertising on car panels. People in cross-roads, signals, and jams do notice the information on the car. The best practices for advertising on the car are:
Advertising in newspapers is a timeless and effective way of creating awareness about your offerings. With the rise of digital newspapers, you can also advertise to their digital subscribers. However, to make the most of your advertisement in a newspaper, follow these best practices:
Google and Facebook hold the largest share of the US digital ad spend (Google:38.6% and Facebook: 19.9%). Therefore, these are the best platforms to advertise your offerings.
Best Ways To Contact Aged Auto Insurance Leads
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