The Definitive Guide to Lead Magnets for Insurance Agents

by | Mar 1, 2017

Lead magnets are key to growing your agency’s prospect email list.

After publishing blog content and staying active on social media for a while, your insurance agency’s website should have a steady stream of traffic coming in. Hopefully, many of these people are converting to customers, but in all reality, its probably a small percentage of overall traffic.

This is where email marketing comes into play. By getting your web visitors to subscribe to an email list, you can deliver value over time, building trust email by email.

Then when these prospects are ready, they’ll return to your website and contact you for help.

The problem is that people are hesitant about giving away their email address to businesses if they don’t feel there is something in it for them – which is why savvy insurance agents offer lead magnets.

What is a Lead Magnet?

A lead magnet is value you offer for free in return for a prospect’s email address.

Lead magnets can take many different shapes: ebook, whitepaper, video series or live webinar.

The key is that your lead magnet has to be valuable or prospects won’t want to sign up to receive it. In most cases, you will also want to offer at least two or three different lead magnets to ensure you have something to entice different groups of people in your target market.

This is fairly straight-forward as home, business and life insurance are all very different and are easy to separate into different lead magnets.

Here is a perfect example of a lead magnet we use at Agency Nation:

Pick Up the Phone CoverSelling inbound insurance opportunities is tough.

That’s why we created this free step-by-step guide: Inbound Selling Success: 4 Proven Practices Outlier Producers Use to Win Business.

Want to improve your marketing ROI? This guide will help…

Why Insurance Agents Should Use Lead Magnets

Lead magnets can dramatically improve the pace of lead generation. You’ve probably signed up for email lists in the past to receive some type of lead magnet without even realizing what you were doing.

The average insurance prospect understands why you want their email address – so you can market your agency to them. That’s why they’re not going to give you their email address without some sort of incentive.

However, when you offer something they actually want or need for free (think value first), they’ll put up with a little promotion in exchange for the information and education they were seeking.

SEE ALSO: How to Attract Your First 1,000 Blog Readers

5 Examples of Lead Magnets That Convert

Anything that you can package and deliver to prospects in return for their email address or other contact information can be a lead magnet. While we are going to focus on digital lead magnets, some companies offer physical products as lead magnets, so feel free to keep an open mind.

When deciding what type of lead magnet to create, the first thing you want to consider is what your ideal customer wants or needs.

Remember, lead magnets only work if they’re valuable to the prospect. Giving away a shallow, fluffy piece of content will not help you build trust and respect with prospects and certainly won’t help you write more business.

The purpose of the lead magnet is two fold:

  1. Deliver value to the prospect
  2. Build trust and respect with the prospect

Depending on the type of insurance you’re looking to sell, there are many different options for delivery.

Below are five lead magnet examples. Choose the option you are most comfortable with and believe allows you to deliver the most value to prospects.

1) Checklist

A checklist provides a useful list of step-by-step instructions for your leads to follow. Checklists are great lead magnets for insurance agents because there are so many scenarios for checklists, such as:

  • New Homeowner Checklist,
  • First-Time Driver Checklist,
  • Rare Art Protection Checklist,

The list goes on and on.

Ideally, you want to provide information for each step on the checklist. You can do this by creating detailed blog posts for each item on the checklist and linking to those articles from the checklist.

You can then promote the checklist from future blog posts or run Facebook ads.

2) Webinar or Private Video

Video is more engaging than text, which makes video content great for lead magnets.

There are two main options here, you can either upload a private video that your lead can access after opting-in or you can use a live (or pre-recorded) webinar as the lead magnet.

Rather than going step-by-step through many tasks like a checklist does, videos usually focus on providing a solution to a specific problem. Video is also a powerful tool for establishing you as expert in area of insurance you’re targeting.

A good way to get ideas for webinars is to look at your blog comments, emails, and social media to find the most commonly asked questions. Another good place to look for questions frustrating insurance consumers is Quora and Reddit.

Then pick the question that creates the most frustration for most people in your target market and answer that.

3) Report or Whitepaper

Whitepapers are an excellent choice for B2B insurance agencies – especially when the insurance niche or coverage is more of an optional decision than a mandatory requirement.

A report or whitepaper will show why your insurance products are a good investment and the roles they play in the industries of your target market.

Your report should be more analytical in nature because decision makers in businesses like to see data to support your claims.

Be sure to use graphs and other visual aids to break up the content and make it easy to read. With reports and whitepapers it is a good idea to spend a little money and have a professional designer polish the document after you’ve created the content.

A clean, professional design will help establish trust and respect with the prospect.

SEE ALSO: This Agent Sells Insurance to 65-Year-Olds through Text Message

4) Detailed Guide

A guide is similar to a checklist where you are guiding someone step-by-step, except in this case you are providing more detail in the lead magnet itself. Of course, you can also include a checklist in your guide.

Since insurance is a confusing topic for the average person, there are many ways to “guide” them towards their desired goal, such as:

  • Guide to Buying Homeowner’s Insurance
  • Guide to Providing Health Insurance for Your Startup Employees
  • The Small Business Guide to Efficiently Setting Up a Workers Comp Program

Often detailed guides work best as a layered lead magnet in conjunction with a checklist. 

Offer the checklist first, then at the end of the checklist offer a deeper dive into the detailed guide.

You can easily set this up in your email marketing or marketing automation software.

Here’s the good part, track who takes the second step to download the more detailed guide. These people become your HOT prospects.

By taking the additional step and downloading the second lead magnet your prospects are showing a high level of interest in both the insurance product you’re profiling in the lead magnet as well as your expertise in explaining the product.

5) Case Study

Case studies perform very well because they take advantage of two powerful marketing tactics – testimonials and storytelling.

The key to a case study that converts customers is focusing the case study on telling the story of your clients and how their life has improved since working with you and your agency.

Case studies do not work when they are really just a big advertisement for you agency.

You must add value to the prospect.

Some of the most engaging case studies will be stories of clients who suffered a big loss or emergency that you somehow were able to help mitigate. Although you don’t want every story to focus on selling fear, the truth is humans are driven by avoiding loss.

You can also mix in softer case studies which focus on your customer experience (and don’t involve a loss) and the relationship you’ve built with a customer over time.

Video works phenomenally well for case studies.

SEE ALSO: How to Build Trust with the Visual Insurance Consumer: Interview with Marcus Sheridan

How to Deliver Your Lead Magnet to Insurance Leads

To deliver your lead magnet, you need to host the content somewhere and be able to deliver it to your leads. Fortunately, many email marketing services provide tools for all of this. You’ll also want to build a landing page with an opt-in form to convert leads.

If you use a service like HubSpot, you can do everything from creating the landing page to automating email delivery of your lead magnet. If you’re using WordPress, you can use the free tools from SumoMe to promote your lead magnet and capture email addresses.

To create your landing page, you can use services like Leadpages or Unbounce. All of the most popular email marketing services like MailChimp, ActiveCampaign, and GetResponse have options for delivering lead magnets.

Don’t stress out about the technicalities right now because you’ll find that there are many solutions that make lead magnet delivery incredibly easy.

The most important thing is investing the time and energy to making a lead magnet your prospects want and will find value in.

A well crafted, professionally designed lead magnet targeted at the right audience can create a perpetual lead generation machine the likes your agency has never seen before.

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