October 07, 2015
The rise of the smartphone era has changed digital marketing as well as the insurance lead industry forever. The days of calling and trying to get in contact with your leads are over. There has been a movement towards more tangible, reliable lead forms in recent years. Businesses want good quality leads delivered immediately. With pay-per-call leads, everything is automated and you can connect instantly with qualified prospects anywhere in the country.
Below are ten surprising statistics about mobile search and pay-per-call marketing.
1. Prospects are 10x more likely to make purchases if they place a call rather than make a click.
2. The number of local searches on mobile devices has quadrupled since 2012.
3. 61% of mobile searches result in a phone call.
4. Mobile search will drive 73 billion calls per year by 2018.
5. Phone call leads close at a rate of 10-15% higher than online leads.
6. 64% of smartphone users are using their phones to shop online.
7. The number of mobile search users will reach 225 million by 2016.
8. 66% of business owners consider phone calls the most valuable form of incoming leads.
9. 76% of calls generated from mobile search result in a purchase.
10. Daily time spent on mobile devices has grown 613% since 2010.
Sources: BIA Kelsey, Google, Local Search Association, Ring Partner, eDigitalResearch
October 05, 2015
More than ever, insurance agency owners need to focus on the bottom line and evaluate marketing programs based on their return on investment, or ROI, that they provide their agency. Because insurance policy commissions are less generous, competition is more competitive and high customer retention rates are no longer the norm, the ROI of marketing programs have a direct impact on the success of an agency. Every dollar an agency invests in marketing or increasing their sales must result in a positive return.
Home and auto insurance policy sales has especially become more competitive and commissions have either declined or become stagnate over time. When purchasing inbound auto insurance leads or inbound home insurance live transfers, it is critical to consider the following 6 factors that can impact the ROI of a marketing program.
1. Contact Rate. Unlike other programs where insurance agents may have to pay for impressions or clicks that do not result in an actual insurance lead, with inbound auto insurance leads or calls, agents only pay to speak and pitch consumers on their insurance products and services. This is especially significant since there a good number of people who may be always “shopping” for auto insurance and have no intent on purchasing a new policy. Inbound car insurance leads provide agents with a 100% contact rate.
2. Pay per Call. Closely related to contract rate, auto insurance agents only pay for the number of inbound home or auto insurance leads that they receive into their agency. Unlike most other marketing programs where an agent may have to waste their money and efforts on unproductive activities, that is not the case with inbound auto insurance calls or leads.
3. Targeted. It is very important that insurance agents utilize a program that will allow them to specifically target who they are looking to speak with so that they are not wasting their money on auto or home insurance leads that they will be unable to sell. The best programs allow agents to speak with consumers looking for auto or home insurance that are located in the area where the agent is licensed to sell.
4. Intent. With inbound insurance calls, insurance agents only speak with qualified consumers who are looking to obtain a quote for auto or home insurance. The inbound insurance leads are guaranteed to want a quote so agents won’t have to deal with consumers looking for customer service or have other insurance needs unrelated to obtaining a new quote.
5. Control. Unlike most marketing programs, insurance agents can control the number of insurance leads they receive and when they receive the leads. Insurance agents are able to turn the system on and off, set their hours of operation and days of the week that they can take calls. Inbound auto insurance leads allow agents to maintain full control.
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6. Cross Sell. While some programs limit the ability of an agent to cross sell consumers multiple insurance policies, with inbound insurance leads, insurance agents can cross sell consumers additional lines of insurance without having to pay any additional fees. This allows the agent to maximize the revenue an insurance lead can generate.
Agent Ethan Kosmin Generated over $200,000 in premiums during first year in business thanks to Contact Concierge.
A look at some surprising facts and shocking statistics from the insurance lead industry.
