How Insurance Companies Can Improve Their Web Conversions

How Insurance Companies Can Improve Their Web Conversions

What is Conversion Rate Optimization (CRO)?

The focus for most insurance agencies that want to grow online is driving traffic toward websites in hopes that this traffic then converts into qualified leads for producers to close. Growth becomes as simple as the agency finding new ways to drive traffic and the agency grows. Eventually, they come to a place where they find one of two problems. Either their online campaigns are not working, in which case you might have a leaky marketing funnel.

Or their PPC, social media, and SEO campaigns have maxed out their results.

CRO, or conversion rate optimization is the strategy you take when this happens. CRO is the art of getting more out of existing traffic and leads (versus entirely new traffic). This means squeezing more revenue while keeping the work that you have to do and the money that you spend, the same!

How CRO Impacts Your Agency’s Bottom Line

Regardless of the type of funnel you have, Adwords, Facebook ads, SEO, like a car dashboard, your funnel will self-diagnose and  tell you what needs to be done to fix it. Fixing your leaky funnels or increasing conversions from traffic, has the ability to impact every facet of your marketing. From the way you generate referrals, from the type of mailers you send, even to your digital channels, increasing the amount of conversions you generate, has a massive impact on your agency.

For instance, let’s say that 100 people click on your insurance ads and you pay $20 per click costing you $2,000 in total. Twenty of these searchers that landed on your page fills out a form and requests quote, resulting in a 20% conversion rate. If your agency is able to close 1 in every 2 quotes, then your client acquisition cost is $200. Assuming additional sales costs and the fact that your annual commissions are less than $200, it will require you in year one to either also cross-sell or convince this client to renew to profit on this relationship.

After this agency improves their ad copy and posts better ads, this significantly improves their quality score and reduces cost per click by $5. This means that now for the same $2,000, they are now able to generate 133 clicks. At the same conversion rate, this means 26 people thus request a quote. This means that you were able to drive 30% more leads with the same $2,000 budget, just from improving upon what you are already doing. This 30% increase in leads, means that now, as your agency is able to generate 13 new clients versus 10, reducing your client acquisition cost by $47 per client to $153. Assuming your annual commission on the average account is greater than $153, you are now able to profit in the first year. As you retain these clients longer, you are able to further drive your marketing ROI over the course of the relationship.

Campaign CRO 

Your lead engine is the mechanism you use to run a campaign. This could be through Google or Facebook or it could be done offline, with mailers and events.  It is comprised of a general strategy, the targeting features that you deploy, and the offers that you place in front of your potential clients.

The campaigns that you deploy are comprised of your strategy, your targeting, and your ads. As your lead engine should be frequently audited piece by piece.

Strategy –

Chance to audit your ideas and brainstorm new ones, in addition, this is a chance to set forth the mechanism to measure your results. Without the proper strategy and measurement, your campaigns won’t be successful. With most digital platforms, you are able to target potential buyers based on what they’re searching for or what they’re interested in. Questions to ask yourself: Are you going after the right client-base? Can you expand into new markets? Are you tracking properly?

 Action plan:

  • Reevaluate strategy to ensure that you are still in alignment
  • Check your tracking codes and test your pages to make sure that they are working
  • Develop new goals based on your previous results

Targeting –

Are your ads actually hitting their targets? Think of this as calibrating a sniper rifle so that you have a chance to hit on… This piece is keywords, background settings, and alignment with how you do business. Some key considerations are is your funnel in alignment with your business’s hours, when your clients want to do business, your service area, and many more. Questions to ask yourself: What types of people have we attracted before and what attracted them to us? Which areas are producing the best results? 

Action plage to fix your targeting strategy:

  • Determine whether marketing offer matches with the target market
  • Adjust marketing messaging across your marketing funnels
  • Reallocate marketing spend to higher converting channels and ads

 Ads –

First and foremost, one of the biggest problems is agencies don’t have a large enough variety of ads, or “offers” in their ad groups. The second biggest problem is they don’t custom-tailor their ds to what their searchers are searching for. Finally, they aren’t updating their ads frequently enough. Ads should be consistently maintained. Some questions to ask yourself are:

Action plan to fix your ads:

  • Create 3 ads per ad group
  • Custom-configure your ads specifically for your target market
  • A/B test your highest performing advertisements.

 Now that you’ve

Landing Page

Educating Your Customers

Why should they work with you? Educating your potential clients, or lead indoctrination is the process of making your prospects prequalify themselves as viable clients and subsequently develop an emotional connection to your agency so that they want to work exclusively with you.  The goal of your landing page is to indoctrinate your potential clients before they even speak with sales. That way your producers are able to spend time speaking with people who are willing and ready to buy.

Action plan to indoctrinate your visitors:

  • Provide valuable information
  • Custom configure your landing pages by target market
  • Provide a keystone lead magnet

On-Page Essentials

Regardless of how much information you provide to your visitors, how you present it matters. When optimizing your landing pages, your pages should be designed and presented in a manner that is compatible with desktop and mobile and has compelling elements to present your agency in the right way and encourage users to convert.

 Action plan:

  • Make sure that content is on-brand
  • Include a high-quality POV
  • Mobile Friendly

Your Lead Form

Your Lead inquiry for is the medium that your clients use to submit their info to you and a medium that your producers will use to better understand their potential clients needs. Your form creates a rubric that salespeople can use to determine whether a prospect is lieky to be a successful client. At a high, level, your form should uncover your lead’s propensity to spend and a willingness to purchase from you.

Action Plan:

  • Ask the right questions
  • Prominent and compelling CTA
  • Tested to work, track and route leads properly

CRM

Lead Segmentation

After a prospect raises their hand and requests your services, your lead database will instantly zap their contact information from your lead inquiry form into a database that houses your leads and notifies your team. Know each client back and forward as Your database will centrally store all the information you need about your particular leads and separate them into client groups.

Action Plan:

  • Create lists for your niches
  • Determine who receives what messaging
  • Pay attention to attribution of unqualified leads to remove them from

Lead Nurturing

Not all of your qualified leads who raise their hand will be ready to make an immediate purchase, leaving many of your inbound leads on the table. Lead nurturing is developing a relationship with these leads and nurturing them into becoming a client. Your lead database improves lead nurturing efforts by organizing data points on each lead and in doing so helping your producers to develop a personalized plan for communication with potential clients.

Action plan:

  • Implement a new quote sequence
  •  Add new quotes to newsletter
  • Reactivation campaigns for old leads

Cross-Selling Funnels

What happens after your clients complete your first funnel? The next step in optimizing your insurance funnels is to stack your 2nd-offer funnel atop of your original funnel. Integrating a second funnel designed at cross-selling allows you to drive more additional revenue from each new lead that enters your funnel, plus it deepens their relationship with your agency

Action Plan:

  • Add new sales to cross-selling sequence      
  • Add new sales to referral sequence
  • Add new sales to ratings and reviews and social media pages

Conclusion 

Funnels are a living and breathing representation of your organization’s sales assembly line. More conversions means more leads which leads to more revenue. More leads at a higher value, leads to direct profitability. Not to mention, every percentage increase in your funnel’s conversion rate positively impacts all your other marketing channels. As you continue to drive traffic from your marketing channels, implementing frequent optimization on each funnel will help you turn more of those visitors into leads and leads into clients.

Camille Bob III

Camille D. Bob III is a Google Ads wiz and founder of Insurance Funnels, a leading Google Ads and marketing funnel agency exclusively for insurance agencies. His mission is to help 10,000 agents build digital insurance agencies with Insurance Funnels. Get the Insurance Funnels Blueprint here.

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