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generate quality insurance leads with meta ads

The Power of Meta Ads in Quality Insurance Lead Generation: Banisoft’s Winning Formula

Table Of Content

What are Quality Leads
Why are Quality Leads important in the Insurance Industry
Meta Platform and its efficiency
Meta ads defined
How are meta ads beneficial in generating Qualified Insurance leads
Outcomes of Banisoft’s Meta Ad Campaign for an Insurance Client
Conclusion

Generating leads is essential in the insurance and mortgage industry, as it opens doors to expanding your clientele, boosting sales, and, ultimately, increasing revenue. We all recognize this truth!

But, have you ever paused to think whether your main focus is just generating more leads or turning those leads into customers?

Sure, saying, “We generated 10,000 leads last week” sounds way more impressive than “We got 100 leads last week,” but does it matter?

Out of those 10,000 leads, how many turned into customers? You might be thinking the more leads, the more conversions—but that’s not always the case!

The truth is only a small percentage of this big number of leads will become customers.

70% of marketers say they’d rather have quality leads over a large quantity of them.

So, instead of obsessing over the number of leads, let’s try focusing on understanding what quality leads are.

Quality Leads

Simply put, quality leads are people who are genuinely interested in what you’re offering and have a higher chance of making a purchase.

A lead doesn’t have to buy anything immediately, but they should show interest in doing so. That way, you can keep chatting with them and build a connection.

Why are Quality Leads important in the Insurance Industry?

Quality lead generation helps insurance agents focus on attracting and nurturing leads more likely to become customers. By pursuing quality leads, agents avoid wasting time and resources on uninterested individuals.

Quality insurance leads create strong, long-lasting relationships with potential clients. This allows agents to have personalized conversations, understand their needs, and customize their approach.

Quality lead generation not only results in immediate sales but also promotes growth by bringing in a steady stream of interested people who may become customers over time.

Alright, now that we’ve figured out why quality leads are important, let’s dive deeper into how you can generate them!

Introduction to Meta Plattform

Back in the day, lead generation was all about advertisers spreading the word and creating buzz around their business while sales teams cold-called potential customers. But times have changed!

But now, with digital technology at our fingertips, we can find the folks who are most likely to become customers way more efficiently.

What lead generation is all about these days is getting to know your potential customers throughout their entire shopping journey.

This helps you build trust, forge a connection, and gently guide them toward being genuinely interested in your business until they’re ready to make a purchase.

So, what’s the ultimate platform to connect and engage with people? There’s no denying it’s Meta!
67% of B2B marketers rate Meta as the top social media platform for generating leads.

Why is Meta Plattform the most effective?

Are you curious as to why Meta platforms are so popular? Just take a look at these eye-opening stats!

70% of internet users are active on at least one Meta platform, be it Facebook, Instagram, Messenger, or WhatsApp.

Facebook boasts a massive 2.93 billion monthly active users and its potential advertising reach is an astounding 2.08 billion people.

Instagram isn’t far behind, with over 2 billion active monthly users and a potential ad audience of 996 million on Instagram Stories alone.

WhatsApp takes the top spot as the most used mobile messenger app in the world, boasting 2 billion active users worldwide!

So, now that you’ve grasped the extensive reach and potential of Meta Platforms, you’re probably thinking about how to engage with both new and existing customers, connect with people, and discover communities on Facebook, Instagram, Messenger, and WhatsApp.

Well, the solution is simple – Meta Ads!

We’ll explore what Meta ads are all about, why they’re essential in generating quality leads, and how our digital marketing company has harnessed their potential to deliver incredible results for our insurance clients.

Section 1: Meta Ads Defined

What are Meta ads?

Meta ads are advertisements displayed on Facebook, Messenger, Instagram, or the Meta Audience Network.

They appear when users browse their Facebook feed, view Instagram Reels, or check Messenger messages.

Meta ads, which you see on platforms like Facebook, Messenger, Instagram, or even the Meta Audience Network, are paid messages from companies.

Documented in their style and tone, these ads help businesses connect with the people who matter most to them. Meta ads include:

Facebook Ads

Facebook Ads is an advertising platform on the social network Facebook, used to promote products and services with text, image, or video posts.

With over 3.03 billion monthly users on Facebook, you can reach any desired audience.

Instagram Ads

Instagram ads promote businesses through posts featuring their products or services.

These posts can appear in various formats like Instagram feeds, stories, or both.

They may contain images or videos with accompanying text and a website link of the company’s choice.

Whatsapp Ads

WhatsApp Ads are buttons in your Facebook or Instagram advertisements that direct potential customers to a WhatsApp conversation with your business.

Here, they can learn more about your products or services and speak directly with a sales representative.

Section 2: How are meta ads beneficial in generating Qualified Insurance leads?

Navigating the cutthroat world of insurance can be quite a challenge for agents, especially when it comes to finding high-quality leads.

It’s like trying to find a needle in a haystack – searching far and wide for those potential clients who are truly interested in buying insurance products.

Common Challenges for Insurance Agents Getting Leads:

With many insurance agents competing for a limited number of potential customers, it’s hard for individual agents to stand out and attract qualified leads.

Building trust and credibility is essential in the insurance industry. To gain the confidence of potential clients, a strategic approach is needed.

In the digital age, consumers’ research and buying habits have changed significantly. Insurance agents must adapt to new channels and platforms where potential clients seek information, staying updated with digital marketing trends.

Using Meta ads in the insurance market effectively engages leads and generates qualified leads. Here’s how:

Benefits of Lead Generation Campaigns Using Meta Ads

First, Meta Ads are highly targeted, letting brands reach specific audiences based on interests, behaviours, and demographics. This results in better leads from users who are more likely to be interested in products or services.

Second, Meta Ads are cost-effective since brands only pay for received clicks or impressions.

Also, Meta Ads provide a smooth user experience, allowing users to complete lead forms without leaving the platform. This leads to higher conversion rates and better leads for the brand.

Using data and analytics, Meta Ads help identify top leads and target them with personalized messages. This saves time and resources while increasing conversion chances.

With Meta lead forms, businesses gather more than just names and email addresses. They can collect information like buying motivations, interests, problems to solve, and more.

Lastly, Meta Ads help identify audience segmentation opportunities. By creating multiple ad sets targeting different groups based on demographics, interests, or behaviours and analyzing their performance, you can discover which segments engage best with your brand and message.

To help you understand better, here’s a real-world example:

Section 3: Impressive Outcomes of Banisoft’s Meta Ad Campaign For an Insurance Client

In this example, we show how our well-planned meta-ad campaign doubled the number of leads and lowered the cost per customer for our insurance client.

Client Details:

e Agent (Name confidential)

Industry: Insurance

Location: United States

Goal: Boost lead generation and lower the cost per client acquisition

Challenges:

Our client, an experienced insurance agent, faced multiple challenges such as:

1. Intense competition in the insurance sector.

2. Difficulty obtaining high-quality leads effectively.

3. Worries about the rising cost per client acquisition.

4. Limited online exposure and visibility.

Strategy:

We developed a clear digital marketing plan to tackle these challenges and achieve the client’s goals – gaining quality leads while cutting down the cost per client acquisition.

Our team set up targeted and efficient paid media ad campaigns on Facebook and Instagram.

Implementation and Results:

Using the incredible audience-targeting features of these platforms, we were able to pinpoint and connect with our client’s perfect customers better than ever before.

Our well-planned approach led to some truly outstanding results for our client:

– A Whopping 200% Surge in Leads: By rolling out expertly targeted ad campaigns and fine-tuning our message, we saw a huge jump in the number of leads we generated.

In just the first six months of working together, our client experienced a fantastic 200% increase in overall leads.

– Cut Down Client Acquisition Costs: We cleverly maximized ad spending and boosted ad quality, which substantially lowered the cost of acquiring each new client. This led to an impressive 28% reduction in costs per client.

– Enhanced Online Presence: Our digital marketing magic worked wonders in raising the client’s visibility on the internet, helping to reel in even more leads.

– High-quality Leads: By focusing on specific demographics and using insightful, data-driven strategies, we made sure that the leads we brought in were high-quality and primed for conversion.

Testimonial:

Our client expressed their satisfaction with our services –

“Working with Banisoft has been a game-changer for our business. We’ve seen an incredible increase in leads, and our cost per client acquisition has never been this efficient. Their expertise and dedication to our success are truly commendable.”

Conclusion

To wrap things up, Meta Ads has truly been a game-changer when it comes to generating top-notch insurance leads, and Banisoft’s winning approach is a perfect example.

By harnessing the transformative power of Meta Ads and utilizing targeted strategies, Banisoft successfully delivered remarkable results for clients, both in terms of lead quality and volume.

This highlights the huge potential that Meta Ads hold in updating how we get insurance leads.

This showcases the immense potential of Meta Ads in revolutionizing insurance lead-generation initiatives.

Don’t miss out on this incredible opportunity! Get in touch with Banisoft today for a chat, and let us help your business soar to new heights with Meta Ads.

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Generate Insurance Leads Using Facebook Ads – Step By Step

Facebook Marketing / Gagandeep Singh

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The way one markets and sells products or services has changed. And this applies to insurance too. If you want to grow your insurance business exponentially, you should know how to generate leads from Facebook ads for an insurance company!

Research reveals that 26% of Facebook users that clicked on a Facebook ad had made a purchase. With 1.49 billion daily active users and a number that’s continually growing, there is no shortage of prospects on this social media platform. Facebook ads for lead generation can be a game-changer for you.

But how are these going to benefit you? Let’s evaluate!

Why are Facebook ads beneficial?

There are umpteen reasons why Facebook ads for insurance companies can be beneficial.

1. Most of your existing customers spend most of their time on Facebook.

Statistics show that 80% of all Internet users use Facebook, including 65% of adults over the age of 65.

2. Targeted advertising

Advertising on FB is the most targeted advertising form based on age, interests, behaviour, and location.

Some of the other benefits of generating leads from Facebook ads for an insurance company include:

3. FB advertising is quicker and less time-consuming
4. It increases brand awareness
5. Boosts website flow
6. Increases revenues and sales
7. Advertisements are measurable
8. Increases customer attribution
9. Lowers customer acquisition cost
10. Drives offline sales
11. Increases repeat business
12. Builds customer engagement
13. Grows blog traffic
14. Increases SEO rankings
15. Can help you break into new markets
16. It is REAL-TIME
17. Your competitors are using it too
18. Give you an edge on larger businesses
19. It is mobile friendly
20. An effective form of advertising

On the whole, Facebook works out to be a cost-effective advertising investment for an insurance company. Not only can you multiply your revenues, but it is also cheaper than almost every alternative source of advertising. As a result of this, you can increase your touch-points with your audience and ramp up awareness — leading to higher conversion rates.

How can Facebook ads help an insurance company?

Facebook ads do more than just getting publicity for your insurance company. Here’s how FB ads significantly boost business for insurance companies:

Content Generation For Increased Online Visibility

Most people research insurance companies and their services online. When you are advertising your blog or website on Facebook, a prospective customer can search for terms that meet their search query criteria.

As a result, instead of them finding you — you are helping yourself get found. So you will be among the first insurance companies they will likely click on. Doing so doubles your chances of doing business. It eventually increases search engine optimization (SEO) and your online visibility.

Build A Cohesive Brand

Facebook ads for lead generation help build Brand recognition. This is described as the ability of consumers to recall a brand when asked correctly. If you want your insurance company to be remembered like Apple or Pepsi, you have to advertise.

But we know that conventional advertising is expensive — especially on a large scale. However, to generate leads from Facebook ads for an insurance company, the cost is not that high!

Facebook is an incredibly useful tool in this process. It lets your company be more accessible to potential customers.

Increase Customer Acquisition

Facebook ads for insurance company helps one acquire more customers. You have an entire online community on FB and are directly engaging with customers. This helps to build brand loyalty.

Insurance is a service that is often regarded as impersonal and complex. Yet it is a pivotal part of health. Since people are digging deeper, you can use Facebook messenger to offer advice online. It’s a quick and effective way to humanize insurance.

Optimize Customer Retention

To generate leads from Facebook ads for an insurance company and get benefits, you need a multitude of data. It can be:

How often people are opening your posts
What content gets most viewed on your site

Data like this helps in developing effective advertising campaigns and generate traffic for your insurance company.

Step-by-step guide for generating leads using Facebook ads for an Insurance company

Now that you know that Facebook ads for lead generation are beneficial for your insurance company, let’s work on strategies that can help you maximize this opportunity.

Here’s a step-by-step guide on the same:

A. Choosing an objective

Facebook has about 11 marketing objectives & strategies available based on what you want to accomplish. These include:

1. Brand awareness and introducing your company to a new audience
2. Reaching out to a bigger audience
3. Driving traffic to a web page, app, or even messenger
4. Engage with a variety of audiences through different medius
5. Install your app
6. Get the audience to view your videos
7. Lead generation to get prospects into your sales funnel
8. Encourage leads to use Facebook Messenger to access your business
9. Convert prospects into leads
10. Connect the FB ads to your product catalog
11. Encourage customers to brick-and-mortar stores

B. Identify your audience

To generate leads from Facebook ads, an insurance company should know their audience. Target your ads by:

Age
Gender
Location
Income
Life events

C. Plan your budget

Just because you save on conventional ads doesn’t mean that you waste money. Strategize and start your Facebook ads for insurance company campaign only after deciding on a budget.

One has the option to choose a daily or lifetime budget. Pick and set the start and end dates. There is also an option to set the Cost Control amount. This will help you to cap the cost per lead at an amount you find convenient. Ideally, you should leave this field blank and run campaign for a few days before deciding on the same.

As you get an approximate cost of each lead costs, go back and set the cap amount. This will help you calculate your return-on-investment in a better way.

D. Go for captivating visuals

Visuals can redefine Facebook ads for insurance companies.

In Facebook ads, you are competing with every other post on your target audience’s news feed. The visual ad should be compelling enough for the viewer actually to click it.

A high click-through rate means better business. Did you know that the average conversion rate for an insurance search ad is 5.10%, and for the same insurance display network ad, it’s 1.19%

On Facebook, this number goes up to 9%!

So make use of infographics, visuals, and videos to create an impression!

E. Identify the market need

Identifying the need for life insurance among users is challenging. Try to educate your customers rather than sell since people are on FB for social surfing, not buying.

Facebook also has the option to run an ad based on previous interactions with a video. Then re-target this audience with a more extended ad. Educating rather than selling on FB is a strategy that helps get higher ROI!

F. A/B testING

Running two or more ads at a given time is known as A/B testing. This way, you can see which Facebook ads for lead generation work better. It can be two different ads or similar ones with slight changes.

For example, rather than a landing page, a direct ad can help you generate more leads!

G. Give instant quotes

When generating leads from Facebook ads, an insurance company gives instant quotes. A number always hits the nail on the head. For example, you are offering a 20% discount on the premium. Instead of giving percentile, say that you will $4,000 off on your total premium amount (based on the math)! It’s a quicker way to create an impact!

Some other strategies that you can try here are:

1. Give special offers and extend them
2. Tell a compelling story through the ad
3. Strike an emotional chord with your audience
4. Make use of CRM to keep track of the audience data

H. Hire a Facebook marketing agency

You are an insurance company that hopes to increase its revenues — but you are not a digital marketer. Hire professionals who can work on Facebook ads for insurance companies.

Be there to share your expertise on the subject matter, i.e., insurance. Generating leads from Facebook ads for an insurance company can turn around your business.

Keep in mind that running ads for any business on Facebook is not easy. But insurance is often complicated with legal terms that are difficult to interpret. Go for catchy visuals, target the right audience, optimize your campaign for performance, test, analyze, and repeat the cycle.

With a good marketing company’s expertise consistency, and hard work, you will generate more leads and sales before you know it.

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