5 Steps to Creating an Effective Lead Generation Strategy

By Allison Babberl on May 9, 2017 in Lead Generation

5 Steps to Creating an Effective Lead Generation Strategy

Lead Generation

A recent study we conducted showed that 33% of insurance agencies struggle with lead management and prospecting. Lead generation can be trying, but there are steps you can take to make it manageable and profitable. Since we know this is a pain point for many of our clients, we mapped out the necessary steps your agency should be taking to create an effective lead generation plan.

Steps to Take When Creating Your Lead Generation Strategy

1. Define your goals.

If you’re looking at lead generation, then your goal is obviously to grow your book-of-business—but that’s only half of the goal. How much do you want to grow—5%, 10%, 15%, or more? Do you want to grow your 65 and under pool? Are you looking to bring on more Medicare-eligible leads? Defining how much you want to grow will help make your plan much more effective because you'll know where you’re going and you can track your progress.

2. Use your team.

If you have an agency that consists of more than just you, then you should seriously consider bringing your team in for collaboration. Show them your thoughts and goals to get their feedback. You can also use this time to help decide the different roles in the plan and who will be tackling which part. This will help make everyone will feel a part of the process and more willing to make it a success.

3. Budget.

The old saying goes “you have to spend money to make money,” and with lead generation, this can be true. Depending on the strategy you take, the amount you spend can vary. Although you don’t want to spend too little, you also don’t want to spend too much. Cheap leads are nice on the wallet, but do they really pan out for your bottom line? Check out this blog to learn why spending a little extra on leads could make all the difference: What Insurance Agents Lose When They Dumpster Dive for Cheap Leads.

It’s important to set a budget. Figure out what’s reasonable and manageable every month for you to spend based on the ROI you expect to receive. And if things aren’t working, make sure your plan is flexible so you can change it a couple of months down the road.  

4. Do your research.

You’ve set your goals and defined your budget, but how are you actually going to get these leads? Research which ways you want to grab your leads and roughly how much it’s going to cost. Here are some generation ideas you could consider and how you can learn more about them:

5. Draw out your marketing plan.

Once you decide how you’re obtaining your leads, you need to decide how you want to nurture them. This plan should detail how you reach out to your leads and prospects and how often. To learn more about creating your follow-up plan, check out this blog: If You’re Not Courting Your Prospects, Someone Else Is.

How can AgencyBloc help?

Every lead you bring in, whether it’s bought or captured online, goes directly into your digital book-of-business, so everything is in one easily accessible space. No longer do your prospects fall between the cracks; AgencyBloc’s integrated business marketing automation allows you to work your leads immediately, so you have the best chance at conversion.

Simplify Your Lead Generation Strategy

AgencyBloc’s industry-specific agency management system can help you simplify lead generation and maximize your conversions. See it for yourself with a live, 1-on-1 personalized demo with one of our sales reps today!

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Allison Babberl
Allison Babberl

Allison is the Marketing Content Specialist at AgencyBloc. She creates educational content and designs videos to promote AgencyBloc's resources to help you organize, automate, and grow your insurance agency. Favorite quote: “Conversation is the bedrock of relationships. Without it, our relationships are devoid of substance.” -Maribeth Kuzmeski More articles

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