Lead generation lessons from tech industry that you can apply in the insurance business
I’ve worked with some of the largest tech companies for the last 4 years, specifically selling tech solutions to SMBs and enterprise clients and at some stage to governments.
The tactical things (scripts, emails, etc.) will vary for the majority of different scenarios in tech just as in commercial insurance… you need to adjust, personalize, stand out and test.
BUT, the important lesson I learned is a strategic one – how to reach out to someone and experience a warm reception to your ‘cold’ message.
I will draw 3 insights that I successfully translated from my tech lead gen campaigns into insurance.
Insight #1 – You need to scale and automate and achieve the necessary numbers/volume
I am all for personalization and adjusting the pitch to suit the specific account you’re after.
I am also all for the ‘personal’ approach to sales, in-person meetings, handshakes and so on.
This is not a choice but in many cases a necessity.
But on the front end, cold calling (phone or walk-ins) is probably not optimal if you’re a solopreneur.
I am not saying it doesn’t work (I did my fair bit of cold calling in the past) but as a solopreneur, you won’t create the impact you really want.
You’re always limited by the very real constraints on your time, energy, and ability to produce as one single person.
If you can hire several cold callers to multiply the impact, that’s a different story.
But if you’re a one-man team, using technology and only then the phone, for the warmest leads, works better.
Use technology to target top of funnel and cold leads, save time-consuming tactics for better leads.
Insight #2 – Personal meetings outperform any other sales engagement (at this level)
This ties into my point above.
In all the campaigns we ran, the best outcomes stemmed from using technology (Linkedin or cold email) to set-up in-person meetings.
Connecting on Linkedin or sending cold email to send further information, scheduling a call at a later date, do a demo etc. was outperformed by a request for a meeting by around 300%.
If you’re a small insurance company or a solopreneur, it makes much more sense to attend only a specific number of warm meetings, rather than randomly calling into businesses.
So if you do your lead gen, and it makes financial sense, try to go for in-person meetings instead of phone sales.
Insight #3 – Shift in power. It’s a buyers’ market
I sold investment packages over the phone several years ago.
My boss was very old school, a high-pressure sales guy from the typical boiler room times.
I knew already back then that this aimless high-volume cold calling approach doesn’t work anymore.
One-call closes are rare now as it is, and in the sales I was involved throughout my whole life, virtually non-existent.
It doesn’t work in tech and neither in the insurance business.
The Internet provides so much choice and information to customers, that they will research you.
That’s why any kind of push marketing (cold calling, phone follow-ups, cold emails, Linkedin etc.) needs to be accompanied by pull marketing – content marketing that demonstrates your thought leadership.
Whether that’s your blog, podcast, appearances on a podcast, or a Youtube channel.
I am not saying it needs to be your main focus, but you need to have something to support your main lead gen activity.
You need to supplement your real-world persona with your online persona.
Get 40% reply rate and generate qualified leads using Linkedin or cold email with the 20/60/20 rule of copywriting