3 Lead Generation Strategies For The Life Insurance Market

Want to sell more life insurance?

Then you need to figure out how to generate more leads.

That’s why today we are going to share three lead generation strategies that can work well for the life insurance market…

What You Need to Know About Lead Generation

Okay, so before we get into lead generation for the life insurance market, let’s define the key terms that we are going to be using throughout the article so that we would all be on the same page.

What is a Lead?

A lead is a potential customer who has:

1. Expressed an interest in your product
2. Provided you with their contact details (typically an email address)

Note that a potential customer needs to meet both of these criteria to be considered a lead.

It’s common to assume that site visitors are leads, but that’s a misconception because a site visitor only becomes a lead once they give you their email address.

Make sure to keep that in mind because you can’t be effective at lead generation if you don’t understand what a lead is.

What is Lead Generation?

Lead generation is the process of converting potential customers into leads by persuading them to give you their contact details.

Also, if you are confused about the difference between lead generation and sales prospecting, you might want to check out our “Lead Generation Vs Prospecting – The Differences Explained” article.

What is a Lead Generation Funnel?

Businesses that generate leads online typically do so via lead generation funnels:

1. You create a lead magnet
2. You create a landing page for that lead magnet
3. You drive traffic to that landing page

Once a potential customer subscribes to your email list to get the lead magnet, they become a lead and enter your sales funnel.

How to Build a Lead Generation Funnel

So how can you build an effective lead generation funnel?

Step #1: Create a Lead Magnet

A lead magnet is a freebie that you offer to potential customers in exchange for their email address.

It can be anything that they can either download to their device or access online:

• An eBook
• A webinar
• A video course

…etc.

There’s also an advanced type of lead magnet called “Free + shipping” lead magnet:

You offer the potential customer a free physical product but ask them to cover the shipping fees

For Example:

You can get our co-founder Russell Brunson’s book “DotCom Secrets”for free if you pay for shipping ($9.95 within the US, $19.95 internationally).

The “Free + Shipping” approach can work well for the life insurance industry because choosing a life insurance policy is a serious decision.

This means that someone who’s researching this topic is likely to be willing to pay ten bucks for information that could help them make the right choice.

Whether you choose to use a digital or a physical lead magnet, what’s important is that:

1. Your lead magnet offers a solution to a problem that the potential customer is struggling with.
2. That problem is either the same or related to the problem that your paid product addresses.

In other words, you want to create a lead magnet that helps people who are looking to buy life insurance choose a policy that’s right for them.

Ask yourself:

When you interact with potential customers…

• What questions come up again and again?
• What misconceptions do you encounter regularly?
• What do you think they should know about life insurance?

You want to package all that knowledge into a lead magnet that is accessible, informative, and relevant.

It can be helpful to imagine that you are explaining the subject to a relative who knows nothing about it. What would you advise your aunt if she wanted to buy life insurance?

Note that your lead magnet shouldn’t be a sales booklet.

At this stage, your aim is to help the potential customer by educating them, not to sell life insurance to them. That’s how you will build the trust required to close the sale later on.

By the way, this means that you should have the potential customer’s best interests at heart when creating your lead magnet, even if that means telling them that they don’t need life insurance. Not everyone does, right?

Letting people know when your product isn’t the best fit for them makes you come across as honest, which they will surely remember if they ever find themselves in need of life insurance in the future.

Step #2: Create a Landing Page for That Lead Magnet

Your lead magnet might be free but you still need to “sell” it.

Meaning:

You still need to persuade the potential customer to download it, sign up for it, or order it (depending on the type of lead magnet you are using). 

So think about your lead magnet landing page as its sales page. How will your lead magnet make the potential customer’s life better? Focus on that.

Here are the three key elements that your landing page should have:

• A headline
• An opt-in form
• A call-to-action button

A basic landing page like that is called a squeeze page and can work well if your lead magnet doesn’t require much explanation.

However, adding other elements such as social proof, an image of your lead magnet, etc. will likely increase the conversion rate.

Also, we have published an extensive guide on how to create an effective lead magnet landing page, so you might want to check it out:

“10 Tips For Killer Lead Generation Landing Pages”

Step #3: Test Your Lead Generation Funnel With Paid Ads

You should never just assume that your lead generation funnel is going to convert.

Here at ClickFunnels, we have built countless lead generation funnels over the years, but we never allow ourselves to think that we “just know” that a funnel is going to work.

Instead, we test every new funnel by driving paid traffic to it. That allows us to immediately see whether the funnel works.

You should do the same. Once your funnel is all set and ready to go, use paid advertising to drive traffic to it, then see what happens.

Only start investing more money into generating traffic when you are sure that the funnel converts well.

This advice might seem obvious, but you’d be surprised how often people pour resources into unproven funnels, then end up broke without having anything to show for it. Don’t make this mistake!

3 Lead Generation Strategies for the Life Insurance Industry

Now that you are sure that your lead generation funnel works, it’s time to get serious about driving traffic to it.

Here are three ways to do it:

#1: Paid Advertising

This one is straightforward:

Once you have figured out how to profitably run ads to your lead generation funnel, start scaling that advertising campaign. Just do it gradually.

Also, if you had success on one paid advertising platform, consider experimenting with other platforms as well.

Say, if you had success on Facebook, why not try LinkedIn? Who knows, it might work even better!

#2: Niche Website

Building a niche website can be a great way to bring in organic search traffic from Google.

It boils down to two things:

Creating SEO Content

SEO content is content that is designed to rank on the first page of Google for specific keywords.

You want to pick keywords that your potential customers are searching for, then create content around those keywords that is better than anything that is currently ranking for them.

You can learn the basics of keyword research in 10 minutes here:

Building Backlinks to That Content

Nowadays, creating great SEO content isn’t enough, you also need to build backlinks to that content (get credible websites to link to it).

Those backlinks let Google know that:

1. Your website is legit
2. Your content is valuable

The most common link building method is guest posting: you offer popular websites a free piece of content in exchange for 1-3 backlinks.

You should spend at least 50% of the time dedicated to your niche website on link building because you won’t be able to rank on Google without backlinks.

And once you start getting organic search traffic, you should direct that traffic to your lead magnet landing page. You can do so by optimizing your website for lead generation.

Here’s our comprehensive guide on the subject:

“How To Generate Leads From A Website In 2021 – Full Guide”

Also, keep in mind that getting a niche website off the ground takes time, so be prepared to invest at least 12 months of work into it before you start expecting results. SEO is a long game!

#3: Offline Promotion

You might also want to experiment with offline lead generation:

• Distribute leaflets
• Place ads in local newspapers
• Collaborate with local businesses

…etc.

However, instead of promoting your life insurance directly, promote your lead magnet instead.

You can even use a QR code that people can scan with their phones to visit your lead magnet landing page immediately.

Just make sure to add instructions like “Scan this with your phone” and an arrow pointing to the QR ad.

Want to Convert More Leads Into Paying Customers?

These three lead generation strategies should help you get more leads.

But then you still need to convert those leads into paying customers.

Our co-founder, Russell Brunson, has created a system for that. It’s called the Value Ladder sales funnel. Want to learn more about it?

Our 5 Day Challenge will show you exactly how to implement it in your business.

You will learn how to:

• Generate unlimited leads
• Create your first lead magnet
• Build your first sales funnel
• Create a simple 6-email follow-up sequence
• And launch your funnel

…in just five days!

So don’t hesitate.

Join our 5 Day Challenge. It’s completely free!