04 Jul 5 Ways On How You Can Manage Your Sales Leads Better
At Vymo, we have implemented lead management solutions for various businesses, but one sector where we have seen tremendous results is insurance. This can be attributed to the long customer acquisition cycle that is peculiar to the nature of the product sold. To increase their revenues, insurance companies must engage with their leads for longer periods of time until they are ready to purchase a policy. However, research proves that 79% of marketing leads never convert into sales due to lack of lead nurturing that can be addressed by implementing an automated marketing solution. In addition, the following points could help you manage your leads better:
Focus on Inbound Marketing
Content marketing is especially useful for insurance companies. Sharing educative and helpful content that is not purely promotional helps you connect directly with clients and supplement your existing lead generation strategies.
Sharing quality content also helps you develop site authority on Google and adds value to prospecting emails to advance the sales process.
Track Your Leads
In the insurance sector, a significant number of prospects finally purchase a policy after a year or so of meeting an agent. Through lead tracking, you can effectively nurture your leads at all stages in the sales funnel until they convert to policyholders.
Reach Out at The Right Time
When you are selling an insurance policy, timing is everything. Follow up with your leads within 24 hours of the first contact lest they turn cold. Don’t forget to utilize multiple touch points – call early, contact often, send emails or even a handwritten card for a personal touch.
Nurturing Your Leads
According to Forrester research, lead nurturing can generate 50% additional sales at 33% lower cost. Nurture your leads down the sales funnel through targeted content and regular follow-ups until they convert to clients. It helps to create a sales pipeline to stay in touch with the warmer leads who might develop interest after some time due to changed living conditions.
A Robust CRM Software
Invest in a powerful CRM platform to ensure real-time funnel tracking, enhanced customer visibility and impact-based lead allocation for faster conversions and enhanced customer experience through greater interaction, multi-channel presence, and faster claims resolution.
As business leaders and think-tanks, you can bridge the gap between marketing and sales by adopting a pre-defined customer-acquisition process with robust lead management strategies. In the context of the insurance industry, lead management is particularly crucial to identify potential buyers and engage with them until they are ready to buy. The abovementioned tips will not only maximize your lead investment by capturing prospects that are not yet ready to purchase but also give you better control over the sale process.