Insurance agencies thrive by bringing in new clients. Gathering leads through marketing and advertising channels can take many forms, both off- and online. One of the time-honored methods for connecting with potential new customers is using insurance telemarketing. This strategy has evolved over the past two decades, positioning it as a valuable component in any insurance marketing initiative. In this guide, we will explore insurance telemarketing and how you can gain significant benefits from incorporating this tool into your agency’s outreach strategy.
Insurance Telemarketing Then and Now
From its very beginnings, telemarketing has served to connect businesses with potential customers. Traditionally, telemarketers would work their way through the phone book, calling everyone and anyone they could reach through a technique referred to as “cold calling”. Unfortunately, the practices of cold calling and aggressive sales tactics have given this important marketing tool a less than favorable image. Thankfully, insurance telemarketing has evolved dramatically with the adoption of new technologies and practices. Today, insurance telemarketers are armed with carefully-curated lists of leads based on demographic data and consumer preferences. Cold calling remains a part of insurance telemarketing, but this focus is now on interacting with people who have already expressed some interest in an insurance firm or its services. Also, telemarketing has moved away from a sales-only model, instead focusing on sharing information about products and services with potential customers and setting the stage for future sales engagement.
Primary Benefits of Insurance Telemarketing
As the technology and techniques behind insurance telemarketing have evolved, one factor has remained the same: telemarketing works. According to insurance industry marketing analysts, telemarketing practices have a significant impact on lead generation and customer engagement. This is particularly evident with companies that have done their homework before calls are placed – identifying target audiences based on their age, income, location, and preferences.
Another advantage of telemarketing is that it allows insurance firms to test new products by gauging interest at a granular level. Reaching large numbers of potential customers with the details about these new products can help shape the direction of marketing campaigns, further building interest among customer groups.
More Reasons Why Insurance Telemarketing Can Spur Business Growth
Insurance telemarketing produces concrete results, and it gives insurance agencies the ability to both reach out to new customer groups and to test out new products or services. These are not the only benefits of this marketing practice; other advantages include:
Cost Effectiveness – telemarketing services tend to be less expensive than other marketing strategies in terms of customers reached and leads generated. In fact, telemarketing can produce leads at a fraction of the cost of more traditional advertising strategies like television and web campaigns.
Specialization – most insurance agencies utilize the services of a third-party telemarketing provider. This frees insurance sales professionals to do what they do best: close deals with customers. The telemarketing provider has the tools, the training, and the experience to handle this dynamic marketing aspect, ultimately producing results that in-house sales professionals would struggle to achieve.
Consumer Feedback – feedback from customers is a powerful tool in its own right, helping to shape the development of insurance products and services. Insurance telemarketing has the benefit of giving customers the opportunity to share feedback with the firm, and this feedback is invaluable in refining sales and outreach practices.
Expansion and Growth – it is no secret that the key to business growth is by bringing in new customers. Insurance telemarketing offers this benefit, allowing your agency to expand its geographical footprint in a cost-effective and efficient manner. Telemarketing also works to engage with existing customers, giving agencies the ability to share information on new offers or insurance services. In effect, telemarketing brings your agency right to your customers’ homes.
Data Collection – telemarketers use data to identify target audiences. As audiences are reached, new data becomes available, helping agencies to develop customer databases that are up to the moment. By using data to make the initial connection, then collecting data based on interactions with leads, insurance agencies can fine-tune their marketing practices by identifying patterns, preferences, and gaps in products or services.
If your agency is not already leveraging the power of insurance telemarketing, you may be missing a significant opportunity for business growth. By utilizing this valuable tool in conjunction with print, digital, and social media marketing campaigns, you can make real connections with a steady stream of new customers. Telemarketing works, and it makes business sense to invest in this proven marketing strategy.
About Neilson Marketing Services
Since 1988, Neilson Marketing Services has been implementing innovative marketing solutions and strategies for our clients in all areas of marketing. Contact us today at (866) 816-1849 to put our talent, expertise, and vast resources to work for you. Let’s make things happen, together!
