The idea of generating your own leads to market your insurance business is appealing to all insurance agents. It seems to be the ultimate sign of drive, business determination and success. Moreover, it may look like a money saving option. However, this often proves to be misleading.
Generating your own leads at first sounds like a great idea, you save money while making money. Most agents think that lead generation is as simple as that. While it is true that some agents are good at generating their own leads, more often than not generating your own leads is challenging.
Lead generation is not an inexpensive proposition. Some leads may convert, while others may not. The time you invest in these leads is money. The amount of time spent chasing, educating, meeting and networking is money. So when not all of your leads convert, that means you lost profit.
Here is what you need to know about whether you should generate your own leads or buy them. The cost analysis of time spent on converting the lead through self-generation versus buying leads from a reputable lead generation company is the pivotal point of recognition that buying pre-vetted leads saves money and also makes money — because those leads are actively seeking information from an agent, like you.
If you decide to generate your own leads, here are a few tips on how to do so. In the age or mobile and AI, traditional marketing strategies are giving way to new approaches. Consider video marketing. Keep in mind that a good video is going to be expensive — more expensive than exclusive to you only leads from a lead generation company.
Social media is another great tool for generating your own leads. You could generate marketing leads through some of the top platforms such as Twitter or Instagram, and perhaps Facebook, but be weary as they have changed their algorithm and it affects businesses’ online visibility. Social media offers a huge market. Just be prepared to work hard, choose the most optimal marketing demographics and communication vehicle (e.g. video), and remember to market you along with your insurance products.