In 2021, US, UK, and EU insurers spent $141.28 million on paid search advertising. Isn’t that huge? And, does that help in improving sales? Let’s explore.
Life insurance, on a broader level, is all about protecting you and your family financially. There is no doubt that most people understand the need for life insurance, but only a few take the time to purchase one. People have their own set of reasons for not purchasing a life insurance policy and the biggest one being the inability to understand its importance.
Insurance ads, whatever form they’re in, focus on building trust and generating leads. However, most of these ads have very little information about insurance itself. To reach a wider audience, insurance agents need to use a number of marketing techniques. Learning these tactics can help stand out in the sea of brands.
Disclaimer: iLife is not a marketing agency and doesn’t manage ads for insurance providers.
The aim of this article is to help insurance agents understand how to create powerful ads that attract buyers’ attention and build the urge to buy life insurance.
Why Invest in Life Insurance Ads
Life insurance is a complex subject; therefore, advertisement is important. With a proactive approach, any insurance agency can get its message noticed by putting them in front of prospective buyers.
The right marketing tactics can enable insurance agents to reach more prospects, generate more insurance leads, and close sales in less time. Therefore, insurance marketers must make advertisement a key part of their marketing strategy.
6 Life Insurance Ad Ideas
From TV ads to social media marketing to landing pages, there are numerous ways you can advertise your brand. Whether you are looking to sell a health insurance plan or term life insurance, surround your online advertising content with trending topics to earn the buyer’s attention.
Here’s a list of potential marketing ideas you can utilize for better customer engagement.
1. Try Facebook Ads
Facebook ads are a great way to reach a wide audience and understand how your audience interacts with your content. By hiring a digital marketing expert for Facebook ads, insurance companies can certainly broaden their reach through effective advertising.
Lead generation ads must clearly convey what the brand offers and encourage people to learn more. Selling more policies is another potential goal for creating Facebook ads. Moreover, you can target all age groups from 18 years and above using this platform.
2. Choose an Example
Advertise an example of when life insurance is needed the most at a certain event or time of life. While designing insurance ads, you need to go beyond the wording. Having said that, visualization gains attention and you can tell an entire story through visuals.
A good example can help you connect with people’s emotions. A story about the consequences of drunk driving can be included in your ads, or a situation that is inevitable that promotes final expenses insurance. These ads will build a sense of urgency that will move buyers down the sales funnel.
3. Boast a Discount Code
Include a discount code in your advertisement to draw the attention of the prospects. If your insurance agency is finding it hard to convert leads into sales, boasting discounts can help. With the right marketing strategy in place, you can exaggerate discounts and deals effectively.
A balanced promotional approach minimizes the risks to the insurance business. Discounts are an excellent way to catch the eye of new customers. To create a win-win situation, offer deals and discounts that are sustainable for your business.
Sharing discount codes on websites, or social media channels is a great way to keep your customers engaged and happy. From classic percent-off discounts to joint promotions to seniors-only special offers, make sure there’s something there for everyone.
With more people buying your insurance product, the profits could greatly soar. Cashback discount codes can also bring you more sales as the buyers don’t feel bad spending money on something that will get them something in return.
4. Exhibit Testimonials
When customers are happy with your product and services, encourage them to leave a review. Customers believe online testimonials more than marketing collateral because they help them understand whether the product is worth investing in.
As a matter of fact, customers see online reviews when considering a purchase from even the most reputed brands. Regular use of consumer testimonials helps generate more leads. Since advertising is all about informing your customers to help them make the right decision, testimonials help promote trust.
5. Recruit, Recruit, Recruit
One of the biggest ways to grow your life insurance business is through recruiting more agents. There are different ways you can recruit agents but make sure to always be clear and consistent with your communication so they never have to question who you are.
Some ways to recruit new agents include using social media, recruiting directly from schools and licensing agencies, and using online job sites. For each of these you need a specific strategy and to give yourself time to effectively accomplish your goals.
6. Referral Bonus
You have clients who are happy with the plans you previously sold them. So, offer them a referral bonus for hooking you up with more clients! It can be a giftcard, a nice basket of treats, or even a cash bonus. No matter what you offer, connecting with clients to find new ones is an honest and powerful way to grow your business.
Giving a referral bonus to clients lets them know you value them, their connections, and their support. It also helps you get clients through word of mouth and organic connection.
Tips for Improving Your Life Insurance Ads
Myths and misconceptions surround life insurance products, which deter people from considering them as a vital component in financial planning. There is a common misconception that life insurance can only be used after the policyholder dies, so it’s not necessary to purchase it.
By improving the quality of life insurance ads, the providers can educate the customers about the benefits of having a life insurance policy for them and their family members. A well-designed life insurance ad can build trust, retain customers, and bring more qualified leads to the agents.
In simple terms, life insurance ads allow agents to market their products with confidence and reach a wider customer base.
Include Strong Calls-to-Action (CTAs)
Motivate your potential clients to “visit the website”, “get a quote”, or “learn more”. On your social media ads, try different ways to facilitate a call-to-action. Being an insurance marketer, your main goal must be to direct prospects to the contact form that you want them to fill out.
Not only will it generate more leads and boost your sales, but it also helps build a strong mailing list. On clicking the CTA, take people to the informative website so that they can learn more about the features and benefits of buying the insurance product.
Focus on Wording
When creating strong life insurance marketing ads, hook your prospect with an attractive opening sentence. Pay attention to the words and phrases you are using in the ads to ensure it adheres to ethical standards. Advertisers can increase their effectiveness by using the right keywords, such as no medical exam required or guaranteed approval.
Be clear and concise in your tone, yet keep it engaging and informative. The words you use in the advertisement content must intend to inform and add value to the customers.
Post ads consistently as it protects your credibility and brings you more business. Consistency allows for standardized branding where you invest time, resources, and effort to make your marketing campaign a success.
The more consistent your insurance marketing efforts are, the better your sales will be. Keeping up with a consistent advertisement schedule not only results in creating a better customer experience, but building trust and reputation as well.
Monitor Your Ad Success with iLife
Creating life insurance ads alone is not sufficient for a successful marketing campaign. Monitoring the success of these ads is equally important. By using the right tools and techniques, the agents can track the life insurance ads on different social media channels.
In addition to this, understanding the target audience and the insurance industry’s demographics is essential for effective marketing. Exploring industry demographics and preferences in-depth will help you test, measure, innovate, and optimize continually.
Want to learn more about monitoring your life insurance ads?
Sign up for iLife life insurance software to track and optimize your marketing efforts. The tool is your all-in-one insurance marketing manager that helps businesses stay ahead of the curve by creating life insurance ads, scripts, and other effective marketing collateral using templates.