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Phone Prospecting for Insurance Leads is Alive and Well


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Phone Prospecting Leads to Customers Who Convert Faster and Spend More

 

While digital and marketing automation have changed the lives of sales people, you’re neglecting revenue if you ditch phone prospecting. Inbound phone leads are often a marketer’s most valuable asset. Forrester Consulting examined customers who initiate inbound calls during the customer journey verus those who do not. Through an online survey of 213 decision makers, they found that phone customers convert faster, spend more and churn less.

 

The Forrester study reports four key findings:

 

Ads that prompt customers to initiate a phone call see higher engagement.

 

Companies that deliver ads where the call to action is to initiate a phone call report that their marketing channels are more effective at increasing customer engagement than those companies who do not use these ads.

 

Customers who call in convert faster.

Sixty percent of marketers surveyed said that prospects who initiate an inbound call in the course of their customer journey convert at an average of 30 percent faster than those who do not.

 

Customers who phone in also spend more.

 

Sixty percent of marketers surveyed also said that those prospects who call spend an average of 28 percent more on products or services than those who do not.

 

Customers who initiate a phone call have higher retention rates.

 

Fifty-four percent of marketers said that prospects who came from inbound calls are 28 percent more likely to renew.

 

Insurance Sales Leaders Must Prioritize Phone Prospecting

 

A customer may begin the buyer journey interacting with a display ad but could end up buying insurance over the phone. Incorporating offline channels into online plans becomes increasingly more important. According to the study, customers who initiate a call at some point in their customer journey account for an average of 27 percent of their overall sales.

 

Lead Generation Campaign Recommendations

 

What do you do with this information? Your insurance salesteam needs to prioritize those customers who call your agency directly. Insurance agents should not ignore the valuable data that can be sourced from these phone conversations. Use phone information to:

 

  • Optimize marketing campaigns
  • Understand voice search potential
  • Shape business strategy

 

Despite the access to information online, customers look for simple human interactions to help them make purchase decisions, especially insurance. Insurance agents should strive to be human, helpful and useful. Your inbound phone calls are the perfect place to do this.

 

Digital is important, but maintain phone prospecting in your insurance lead generation strategy to acquire better customers who spend more and renew easier. Want more inbound insurance leads? Contact Parasol Leads today for exclusive insurance leads.

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