In this article we will discuss and learn how to advertise life insurance business locally and generate more leads and convert them into buying customers.
Every business needs marketing in order to survive. Start small and grow fast. Be hyper targeted and start with local advertising.
Do you really need to buy Insurance Leads. Shared or Exclusive Leads?
Most internet lead companies offered shared leads meaning they sell them to more than one agent. Companies are able to make more money by selling the same to 4-8 agents.
Shared leads might not be quality leads and might cost you somewhere around $30-50. Average life insurance agent get 1 or 2 customers out of 20-30 shared insurance leads. Now lets do some math to calculate customer acquisition cost. $30×20=$600. Math shows us that insurance agents in average pays around $600 just to get customers.
Never calculated time to convert leads, travel expenses.
Exclusive leads are tougher to find and are often available with smaller lead companies that don’t have the large volume to sell shared leads.
They take away the competition factor that you have with shared leads but that comes with a price.
On average price for such leads are between $50-100. Let`s to the same math and we will get that out out of 20-30 leads agents get 4-5 customers and pays $60×20= $1200. That is pricey right?
We help insurance agent to optimize their ad spent, increase popularity in service area and generate more leads for free. By working with our customers we developed the following advertising framework which helps to generate leads and optimize advertising budget.
Local Advertising / Marketing Guide for Life Insurance agents.
Step 2: Make Sure that you have Google My Business Page. Read this guide how to create Google my business page and optimize it. It will cost you $0.
Step 3: Define your service area and create perfect customer persona. At our agency usually we help you to create your audience and drawing perfect customer persona and journey.
Step 4:Once you have your persona start targeting them.
We lovelocal advertising, because it is hyper targeted and driver more conversion and drives more sales.
Pick Neighborhood to target, create popularity and become recognizable.
At our agency here is what we do.
10-15 cars will drive in targeted neighborhood and will show your ad to residents.
For extra $100 we order Murmur super Ad which allows us to request 2-4 cars to park in front of community grocery stores like Walmart, Woodman`s, Target and etc. And show your ads to store visitors.
Step 6: Creating dynamic Facebook ads based on real-time data and analytics received from Murmur Ad Platform. We help you to create Facebook ads with $200 budget and target the same area where Murmur Cars are showing your billboard ads. Now you get people who see your ads on streets and in Facebook. Sounds nice right?
Step 7: Send direct mail, postcards to residents dynamically where Murmucars are advertising. Now every single residents saw your ad on streets, online and received in mail. Congratulations , you just learned how to reach your customers via those 3 advertising channels.
Now let`s calculate how much will such advertising cost you. Murmurcars digital billboard advertising: $99 / month + $100 one time charge.
Facebook Advertising: $200
Direct to Mail via Murmurcars Platform: $ 250. Total: $649
Results: You get your business exposure to residents, 2000 people saw your ads during the month and conversion rate is higher. This advertising framework allows to generate you 50-60 exclusive good quality leads and convert 7-12 customers.
Now let`s compare Led Generation and our Framework.
Price for exclusive leads are $1200 via Lead Generation companies and $649 by using our framework. Our advertising guide exposes your business to 2000 people, is cheaper and generate more leads that any led generation company.
P.S: if you are interested in running campaign with us email at: email@example.com or just say “Hello”. Feel free to ask any questions and happy to help you.