It’s not easy finding new leads for your insurance agency. There’s a lot of competition out there. But luckily, there are also a lot of new ways to generate leads.
Social media, for example, has become one of the most valuable tools for agencies looking to find more leads. Everyone is spending time on social media these days. And if your target audience is hanging out online, you can probably connect with them via social media.
Facebook is the reigning champ of social media sites. So if you want more leads, you can’t go wrong with this widely popular social networking platform. Here we will talk about everything you need to know in order to generate more insurance leads using Facebook.
Generate Exclusive Insurance Leads for Your Insurance Agency on Facebook
Facebook is now more than just a meeting place for friends. It has developed into a venue for businesses to market themselves. This is primarily done through self-promotion and by interacting with customers.
The strongest brands are already well-established on Facebook and have countless followers waiting for their updates and posts. The same can happen with your insurance agency, and you have two options: you can go the organic route, or you can use paid ads. You can also use both to achieve even greater results.
Whether you’re a big corporation or a small business, Facebook is a powerful marketing tool. You can use it to establish your brand, introduce your agency to a larger audience, set yourself apart from the competition, and start building your community.
In fact, there are over 7 million advertisers worldwide that are actively using Facebook for their businesses.
Facebook is great for finding insurance leads because it is very popular among young professionals and adults alike. These are the demographics that are most likely to get insurance. And if you start building a solid Facebook profile, you will eventually generate a stream of leads, prospects, and new clients.
What are Exclusive Leads and why are they Valuable?
For those who want to buy leads online, there are two types of leads that you should know about: exclusive leads and shared leads. Exclusive leads take away the competition factor because they are sold exclusively to one buyer. This also means that they are generally sold at a much higher price, sometimes around $20 to $50, or even more per lead.
Exclusive leads are more valuable than shared leads, simply because they are exclusive to you. This is a particularly good choice for new agencies that have low public brand awareness.
However, if you go the organic route, you will rarely have to worry about exclusivity. If you generate leads using Facebook, you can naturally increase brand awareness and enjoy more referrals. By increasing your reach through your Facebook page, you can effectively utilize word of mouth marketing. And that’s only one of the ways to gain exclusive leads on Facebook without spending money.
You can use Facebook to boost your web presence and secure exclusive leads. Content marketing, for example, is a great way to use social media to showcase your value and impress your prospects. You can increase your engagement by posting high quality content like articles, photos, and videos that are relevant to your target audience’s interests.
When they comment or leave a question, you can demonstrate your expertise by sharing your knowledge and starting a conversation. This is the organic way of using Facebook to generate leads. By proving that you are a thought leader in your industry, you can easily convert your Facebook followers into clients.
Shared Leads: What are they and How Much Do they Cost?
Shared leads are sold to more than one agent. Lead companies are therefore able to generate more income per lead by selling them to multiple competing agents. These leads are cheaper, at around $10 to $18 per lead, but they are also less valuable because there is no guarantee that you will be the one to convert them. Therefore, you still have to compete for these shared leads.
Shared leads are beneficial for companies with an established and well-known brand. Leads are more likely to choose them over other insurance agencies because they are already familiar with the brand.
This also emphasizes why generating leads organically can be extremely beneficial for your insurance agency. Not only will you be generating more exclusive leads, you will also be avoiding the unnecessary competition.
How much does it Cost to Generate Leads on Facebook?
If you want to go the organic route, then generating leads on Facebook is absolutely free. You can still spend some money on a few clever investments like optimizing your profile for better engagement, but overall your spending should be minimal.
Organic leads are people you reach for free on Facebook by posting to your page. They are referrals, followers, fans, etc.—anyone who learned about your insurance agency through your content or by word of mouth.
Obtaining organic reach is not an easy feat because of how saturated the market is, so it will take a lot of time and effort to become an influencer here. This is a common pain point for many businesses that are using Facebook for lead generation.
Organic content is actually declining in terms of overall reach, because there are too many new posts being published constantly. This is similar to how difficult it is to make an impact on YouTube simply because there are too many videos being uploaded per hour.
However, once a single piece of content goes viral, your agency can enjoy a significant boost in traffic and in leads. Content marketing can be unpredictable in this regard. But the key is in consistently posting content that entertains, inspires, and informs your target audience. By doing so, you can still gradually establish thought leadership without having to go viral.
Use your Facebook page to develop your brand identity and connect with your target audience on a human level. Experiment with different kinds of content and try to figure out what your followers enjoy the most. Create content that resonates with your audience and you can generate more insurance leads in no time.
How much does it Cost to Generate Leads on Facebook with Paid Ads?
Facebook is not limited to organic lead generation, of course. It also offers its own form of advertising, called Facebook Ads. You can implement Facebook advertising along with your organic efforts to generate more leads, increase likes, and drive website clicks.
Facebook ads let you target demographics by user age, location, interests, education, etc. On average, Facebook ads cost $0.97 per click and$7.19 per 1000 impressions. It also gives you the ability to set your ad budget per campaign.
When you use Facebook ads, you can analyze your ad performance with the built-in performance measurement tools. In the long run, a combination of organic lead generation and Facebook advertising can be a better investment compared to just buying shared leads.
If you have a lot of followers on Facebook, your ads are more effective. Not to mention that you get to enjoy more social proof and stronger brand recall.
Facebook is a fantastic source of insurance leads. The user demographics, the paid ads, and the potential for your content to go viral—there are many reasons to choose Facebook as your primary social media marketing channel.