Reviving your dormant health insurance leads
By Jeremiah Desmarais
Drip marketing is an effective tool for guiding long-term leads toward a buying decision. But it's also effective as a means of resurrecting all those seasoned leads and prospects in your database. And if you're like most agents, you probably have dozens, if not hundreds, of unclosed leads in your database or lead file. That database is still worth a lot of money, especially if their e-mail information is still current.
There's gold in your database -- and you can dig up those dormant prospects in five easy steps.
1. Create a drip marketing strategy
Drip marketing is a proven and cost-effective way to find the potential clients in your database and guide them toward an application. This strategy works because it accomplishes three important marketing goals:
- Keeps you on their mind
- Shows prospects why they should choose you
- Calls prospects to action
If your list exceeds 300 prospects, consider segmenting it into categories. Each category should then receive a customized series of messages designed to increase the chances that they'll convert into actual applications.
Marketers have long known that segmenting your audience improves your chances of making the sale. Segmenting allows you to tailor your marketing pieces to specific target groups. Here are four possible categories that may fit parts of your database:
- Bought elsewhere
- New additions
Online consumers want to be educated before making their choice and they trust those agents and brokers who take the time to give them the information they need.
Build trust by using your e-mails to point them to educational material on your Web site. If you need more or fresher content, tap into these online resources:
- Industry newsletters and blogs
- Your carriers and service providers
- Contract writers (on CraigsList.org)
It's easy to set up. Just create a schedule of when you want leads to receive e-mails and then choose a message that works. You can use one of the template messages provided or write your own.
Combined with a quote engine, each e-mail can also include a personalized up-to-date quote.
5. Input your old leads and prospects
I recommend inputting your old leads through your quote engine system. This will allow the system to remember the type of plans your prospect was interested in and automatically imbed current quotes with each new e-mail.
But what if your list isn't very big? Or what if you want to put this strategy to use on a larger scale?
It's easier and more affordable than you think. Many lead providers sell seasoned health insurance leads -- sometimes called "aged" leads -- at a steep discount. For example, you can purchase a set of 1,000 leads that are more than 30 days old for less than $750. Even if you only convert 1 percent of these seasoned leads the first year, that's still 10 closings -- more than enough to cover your investment.
There is a big difference between real gold mining and using this strategy. Mining for real gold is backbreaking work that depends on a lot of persistence and tenacity -- and being at the right place at the right time.
This system does all that for you, so you work smarter to uncover the buried treasure in your database.
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