How To Get The Best Health Insurance Leads
Every health insurance broker wants the best leads. But finding them, nurturing them, and converting them is easier said than done.
That’s why we’ve created this blog with the inside scoop on how to get the best health insurance leads!
Here’s how…
1. Referrals
Referrals are the strongest form of marketing and often produce the best clients. That’s because no matter what combination of words you use, consumers trust their friends and family more than marketing messages.
Have you ever tried out a restaurant that a friend has recommended? Did they say it was ‘the best restaurant in town!’
Compare that scenario to this one. You’re walking down the road and see a new restaurant with a sign outside. The sign makes the same claim: ‘the best restaurant in town!’
Which are you more likely to try?
Due to the trust in the referral and the business, cancellations are often very low with this type of lead.
2. Create Affiliate Partnerships
Affiliate partnerships are essentially a different source of referral. A typical referral involves a client telling their friend about your business’s great work. With an affiliate partnership two businesses who offer different products partner up to refer each other’s client to one another.
For instance, a Health Insurance Broker may wish to create an affiliate partnership with a Life Insurance Broker. After each company has set up their respective policy, they could make a referral to the partner company.
Typically, these partnerships work on a cost-per-lead basis or a revenue share split.
3. In-House Lead Generation
A third option is to create your own digital sales funnel and generate your own leads online.
For this, you’ll need a website and a digital marketing agency to handle SEO or PPC services. This strategy is not one to just dip your toes in, it’ll be costly in terms of time and money.
In house lead generation is likely to produce high intent prospects. Due to this, they’ll likely convert at a high rate.
However, it’s important to note the level of competition.
Generating leads online means that you’ll be competing against three types of competitors: other health insurance brokers, comparison websites, and directly with the insurers.
Who can I expect to compete against?
Well, Google search ‘Health Insurance Quote’ and see who’s there.
The Brokers:
The Comparison Sites:
Direct Insurers:
The problem with this strategy is the density of competition. It’s also that these competitors have deep pockets. AXA Health spend an estimated £11,000 a month on just the search term ‘health insurance’.
4. Outsourcing
Outsourcing lead generation is the most reliable way of generating high quality, consistent leads.
Why? Well, this may be your first time generating leads yourself. What do you do? Who do you ask for help? It’s hard to know. On the other hand, outsourcing to a lead generation agency means that you’re effectively hiring knowledgeable experts for a fraction of the cost.
What to expect from a Lead Gen Agency
- Experience. If you pick a good agency, it’s likely that the lead gen team have a vast experience in healthcare lead generation. That way, they’re less likely to waste time and money testing and learning with a campaign.
- Cost Efficient. Depending on what campaign you’re looking to start, it’s most likely that you’ll need to hire experts in that field. Recruiting is expensive and retaining members of staff is even more expensive. Outsource it, keep your overheads low and just pay the little you need to and focus on converting leads.
- Better Leads. If you choose a reputable lead gen agency, they’ll likely have tried and tested tactics for generating high converting leads. Your competitors cast a very wide net in the search space. The ones that they miss are normally for a reason. So, trust an agency’s proven generation methods and get the best leads for your budget.
Read enough and want to get started with a trusted and reliable lead generation agency?
Chat to one of our experts today.
