8 Insurance Marketing Ideas to Reach More Shoppers and Sell

The insurtech ecosystem is among the most competitive ones today. Based on data from 2021, only in the US, there were 5,929 insurance companies, and premiums written amounted to $1.4 trillion.

In order to emerge victorious in this fast-paced and crowded market, insurance companies need to stand out from competitors by adopting effective marketing tactics and implementing them correctly.

These tactics are meant to influence the consumer at different sales funnel steps and leverage numerous elements, from user experience to quality content to digital marketing tools.

Let’s dig deeper into eight insurance marketing ideas to reach more potential customers and turn them into your clients.

1. Focus On Generating a Flow of Positive Insurer Reviews

In today’s digital age, those looking for a new insurance provider use the internet as their primary tool to compare different offerings and insurers.

Reviews left by previous or current clients are critical in their decision-making process, as they can provide potential buyers with invaluable insights into the quality of the service they should expect from a specific insurance company.

Insurance companies should take proactive steps to ensure the companies receive as many positive reviews and high ratings online as possible.

This doesn’t refer only to the company’s official website (where customers are aware insurers may cherry-pick the best testimonials) but also to Google, Facebook, Trustpilot, and other popular review sites.

So, what are the types of reviews that can impact sales? What they all have in common is that they go beyond a simple 5-star rating by explaining why the insurer met or surpassed expectations and describing the customer experience in detail.

For example, a simple 5-star review followed by a short comment like “Great company” won’t be nearly as effective as five stars followed by an in-depth description of the smooth negotiation process clients had with the insurer’s representatives, the wide range of options offered to them, and the high responsiveness of the company’s customer support.

Reviews should feel authentic and come from those who have genuinely tested the insurer’s offerings and enjoyed the service they received.

2. Create a Customer Referral Program

Another effective way to reach more customers and boost sales is creating a customer referral program. These programs encourage existing customers to refer their friends and relatives by offering incentives such as discounts, freebies, or other rewards.

Life Insurance provider Ethos gives us a clear example of how to use referral programs to boost sales is Ethos Life.

They implemented a referral program in which customers could refer their friends and family to buy life insurance through Ethos Life, and they would receive a $50 Amazon gift card for each successful referral.

The program runs smoothly due to its simplicity and straightforwardness, and the FAQ section features detailed answers that eliminate any confusion or doubt among prospects. This program was incredibly successful, increasing sales and customer loyalty.

3. Ensure High Speed and Seamless Navigation

As mentioned earlier, prospective customers use the internet a lot when comparing different insurance providers and choosing their next one.

You want to ensure your website is fast, user-friendly, and provides seamless user navigation. Any time a visitor encounters obstacles while surfing a site, the chance he will complete a purchase decreases a bit.

According to HubSpot, website conversion rates drop by an average of 4.42% with each additional second of load time between seconds one and five.

It’s also mentioned that 7 of 10 customers recognize that page speed affects their inclination to purchase goods or services from an online vendor.

Moreover, half of the interviewed subjects would accept to forgo animation and video in exchange for quicker loading time.

All other factors being equal, a more basic website that loads very fast is more effective at converting visitors into clients than a flashy site with fancy visuals that takes too long to load. You should keep this in mind when you are in the website development stage.

Moreover, a study by Think with Google shows that, as page load time goes from 1 second to 3 seconds, the probability of bounce increases by 32%.

4. Get Feedback From User Testing Platforms

A very effective way to receive feedback on how customers feel about your websites or specific features (e.g., online quote calculator) is to use user testing platforms such as UserTesting.com or Validately.

These platforms allow you to ask real people specific questions about their experience with your website or online quote calculator.

You can then use this feedback to make adjustments and improvements to the user interface, navigation, flow, and design of your website and its components.

One of the most common ones is usability testing, a form of UX research that assesses the efficiency and ease of use of an electronic interface, web page, or e-commerce store for users to accomplish their desired results.

Let’s say you are trying to test the ease with which your potential clients can obtain an insurance quote online.

By using these platforms, you can ask the test taker to navigate through your website and ask for a quote while explaining out loud any thoughts or criticism he may have about the experience.

The platform will record the test taker’s screen and his considerations. Collecting this information allows you to obtain precious feedback that you can use to improve the customer experience.

User testing platforms also allow you to conduct surveys on people interested in buying a new insurance policy, as well as A/B testing to determine customer responses to various design elements, such as registration forms and calls to action.

Finally, focus groups can bring together various participants and have them discuss a topic related to the product or service being tested to better understand the motivations and behaviors of specific target groups.

5. Develop a Solid Content Marketing Strategy

One effective way of finding leads online is by implementing an effective content marketing strategy. This involves publishing regular and informative content that appeals to your target audience.

One example is adding a blog or resources section to your website that provides advice and tips on topics ranging from the benefits of buying life insurance to the different types of automobile insurance coverage.

It’s vital to publish authentic content and to offer real value that is currently not provided by competing companies.

Nowadays, the internet is filled with all types of blogs, articles, and tutorials that simply repeat the same thing by using different words and styles.

What you should aim for is giving potential buyers a unique angle, thus helping them expand their knowledge and evaluate different offerings more effectively.

For instance, if there are currently no in-depth articles targeting prospective buyers of life insurance in a certain state or county, you could consider publishing one that offers tailored advice to those living in that area.

You could also create a YouTube channel that offers tutorials and other helpful information related to insurance to attract more viewers, as well as develop a solid social media marketing strategy to drive traffic to the content you produce.

Content marketing is one of the most effective tactics when it comes to building trust. Insurance companies should not only see themselves as providers of services but as helpful educators in everything related to their field.

When choosing a provider for something as important as insurance, prospective clients surf the web multiple times in search of helpful information they can use to better understand how insurance policies work and what’s the most convenient option for them given their situation.

If they repeatedly come across free and helpful content published on your website, social media, and other channels, they’ll start seeing your company as an authoritative and trustworthy source in this field.

This will, in turn, increase the chances that they will choose you over other insurance providers when it comes to actually buying the product.

6. Focus on Both On-Page and Off-Page SEO

You should focus on both on-page and off-page SEO and target keywords prospective insurers look for.

While using digital marketing tools to manage the paid advertising strategy involves having to spend a budget upfront to get results, SEO is a long-term game that requires more effort and patience. If done correctly, though, it can yield much better results.

On-page SEO involves optimizing the page content and code of your website to make it easier for search engines such as Google to rank your page higher.

Effective on-page SEO practices include finding attractive keywords to target and optimizing tags, internal links, meta titles, and meta descriptions for those keywords.

Attractive keywords are those search queries that both have enough monthly searches in the geographic area you are trying to target and a level of competition that is not too intense.

Let’s say you are trying to penetrate the Californian market. The keyword “life insurance in California” will probably have a huge amount of searches but a very high level of competition.

In contrast, the keyword “life insurance in Camarillo” may have low competition but also a very low number of monthly searches”.

However, by analyzing keywords like “best life insurance in Ventura County” or “cheap life insurance in Riverside County” you may finally find one that is searched by many people and is currently not targeted by too many competitors.

Off-page SEO involves link building and other external activities used to improve the rankings of your website on search engine results pages (SERPs).

Common off-page SEO techniques include guest blogging, sharing your content through social media, and working with influencers and press releases.

When planning your off-page SEO strategy, you should look for ways to have content linking to your website published on high-authority websites. Domain authority refers to the quality and trustworthiness of a website.

Adding your links to a small insurance blog that has been around only for a few months and only has 1,000 visitors a month won’t boost your rankings.

However, when your backlinks appear over numerous high-authority websites, your search engine rankings will take a turn for the better.

Not all these backlinks need to appear on insurance-related websites. Some may also appear in magazines and general financial blogs that have been around for quite some time and have several thousand visitors a month.

For additional information, check out the SEO roadmap.

7. Create Effective Lead Magnets

Lead magnets are incentives used to attract prospective customers and obtain their contact information. Examples of lead magnets include free eBooks, white papers, newsletters, discounts, and coupon codes.

Examples of how insurance companies can use lead magnets include offering a free eBook on automotive safety tips or a free guide on choosing the best health insurance plan for your needs.

When creating a lead magnet, ensure it’s relevant and appropriate for your target audience and provides value to them. Additionally, include a clear call-to-action and a form for prospective customers to fill out to receive the magnet.

8. Develop Partnerships

Insurance companies can find new prospects and boost sales by developing partnerships with businesses that cater to their target market. This strategy, known as co-marketing, allows insurers to tap into the existing customer base of another company and increase brand awareness.

For example, a health insurance company could partner with a fitness center to offer discounts on gym memberships for policyholders.

The fitness center would benefit from increased membership, while the insurer would gain access to potential customers who are already interested in health and wellness.

Another example is an auto insurance company partnering with a car dealership. The dealership could offer discounted rates on car purchases for policyholders, while the insurer could offer incentives such as free roadside assistance or accident forgiveness coverage.

Partnerships like these allow insurers to reach new audiences and build relationships with potential customers before they ever purchase a policy. They also allow insurers to demonstrate their commitment to providing value beyond just insurance coverage.

To Sum It All Up

Insurance companies need to be proactive and creative in their marketing approach if they want to stand out in today’s competitive marketplace.

Fortunately, several strategies can help insurers gain visibility, attract prospects, and convert them into paying customers.

By focusing on the right marketing tools and tactics, ranging from SEO and social media to lead magnets and partnerships, your company can both attract new clients and retain current ones more effectively.