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3 Marketing Mistakes Insurance Companies Make

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Insurance was actually the number one most expensive keyword on Google just a few years back, with Loans and Mortgage closing in on second and third place. This tells us two things: there are a lot of people searching for insurance and the competition in this niche is tough. Tough is somewhat of an understatement, since there are sub-niches within the vast insurance vertical. From life insurance, to health insurance, car insurance, and other necessary forms of coverage, each one of these policies experience unbelievable growth on a monthly basis as millions of consumers move forward to their next life stage. The plus side to this is that insurance companies will most likely never have to worry about running out of business due to a shifting trends because there will always be a need for coverage. The downside is that there are hundreds of thousands of other agencies competing for the top spots on the most prominent advertisement displays (whether online or offline). To conquer the competition, you can’t afford to commit any of these four mistakes:

Insurance Marketing Mistake #1: Letting Your Calls Fall Through

Calls are crucial in the insurance sector, where potential leads need to feel the sense of trust in order to happily convert. Even with all of the digital resources available, consumers still prefer to call in because it’s oftentimes more convenient and allows them to verify for themselves whether or not they can truly trust your particular company. It can be detrimental to your insurance company to let your calls fall through because statistics show that customers are four times as likely to turn to a competitor if the problem is service-related rather than price or product related. Not only will you lose the potential customer, you’ll likely lose them to a competitor. Prioritize your calls by investing in Automatic Call Distribution. This technology clears up your call queue by routing your callers to the next available agent. Your hold times will be reduced dramatically, which ultimately translates into more conversions overall.

Insurance Marketing Mistake #2: Not Personalizing Your Automations

Automations are the key to saving time and resources, but it can work against you if you don’t personalize your automated approach. At the end of the day, people want to feel like they are important to your insurance business and that you prioritize their call. Here’s how to not do that: route all of your calls to the same place using a drony, robotic voice attendant that has sub-par voice recognition and does not offer different speaking options. Just the thought of having a call that bad makes one wince. The more effective way to optimize your call automations would be to personalize the customer journey from the very beginning. Rather than telling you what to do in steps, we’ll describe the perfect automated call instead. When callers first dial your number, they are immediately greeted by an advanced interactive system that mimics the natural cadences of human speech and understand complex inquiries. It also detects where your callers are calling from and offers multi-lingual options based on their location and demographic. The callers can then choose self-service or to speak to an agent. The Automatic Call Distributor then routes the call to the next available agent so your callers don’t have to wait on hold. If your service runs this smoothly, you’ll be able to convert more calls in no time.

Insurance Marketing Mistake #3: Not Implementing Call Tracking

In order to unlock all of these other incredible marketing automations that we’ve mentioned, an advanced call tracking software must be implemented. Call tracking lets you in on the entire customer journey so you’ll have full control over all your different campaigns. Not only does call tracking help to personalize your call experience, it also reports on the latest campaign details with up-to-the-minute call analytics. Insurance companies that are equipped with call tracking will never be blind-sighted again. Those without call tracking, however, run the risk of falling behind their competitors with the software.

Even committing one of these mistakes can set your marketing efforts back significantly because there are so many other agencies that are competing for the top spots. The sheer amount of competitors in the insurance space might make it difficult for you to optimize your campaigns at first, but with the help of Phonexa’s Call Logic, you can do infinitely more with your marketing efforts. Set up a consultation with us today to find out how Phonexa can take your insurance agency to the next level. Phonexa is scalable, customizable, and affordable for businesses of all sizes and industries.

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Phonexa is the leading all-in-one platform for call tracking, lead distribution, email, marketing, and digital marketing. The Phonexa staff is responsible for authorship of Phonexa blog posts.
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