Auto insurance rates have been increasing steadily over the last two years, fueled by higher overall vehicle prices and repair costs, according to the Associated Press. Inflation is impacting all sectors of the economy, but auto insurance has the highest inflation rate, up 22% from a year ago. This dramatic increase has led to many consumers switching carriers to find lower rates. With so many drivers looking for more affordable policies, insurance agencies need to update their auto insurance lead generation campaigns to ensure they can capture these valuable leads. But what is the best method in today’s digital-driven world? You’d be surprised to know how effective buying inbound calls can be for the auto insurance industry.
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How Do You Generate Auto Insurance Leads?
Insurance agencies use many methods to generate auto insurance leads. Digital marketing is a popular method that uses targeted ads on search engines and social media platforms to help reach potential customers. Content marketing, such as creating blog posts and videos about auto insurance topics, can also help attract potential leads. While these digital lead generation methods can be effective, they can take time and resources to see the benefits.
Buying inbound calls is one of the most effective methods for reaching high-intent consumers actively looking for new auto insurance policies. Also known as pay-per-call marketing, this lead generation strategy has many benefits for auto insurance agencies. Third-party lead providers use various marketing channels and affiliates to generate calls from consumers interested in auto insurance. These calls can be screened to ensure they meet the insurance agencies’ criteria like age, income, vehicle type, location, and intent to purchase before being transferred to insurance agencies. When a call that meets the requirements comes in, it’s routed in real time to an available insurance agency that has signed up for the service. This method can provide a steady stream of high-intent leads, with callers actively looking to discuss insurance options.
Should Agents Buy Auto Insurance Leads?
Buying leads is a great method for agencies needing immediate connections with potential customers. Auto insurance leads and calls provide instant access to potential customers, which is less time-consuming than generating leads organically. Buying leads can also be scaled depending on the businesses’ needs to grow. These leads can also be targeted to specific demographics or locations to ensure the agency connects with the consumers they’re actively pursuing. Having access to these types of clients makes buying leads a great strategy, especially for new agencies or those looking to expand quickly, as it helps them to expand their client base.
Why Is It Worth It to Pay for Auto Insurance Leads?
Paying for auto insurance leads often produces a great return on investment for agencies. They only pay for the calls they receive, which helps produce a high cost-per-acquisition on leads for auto insurance. Other benefits include:
- Supplement existing efforts: Purchased leads can complement organic lead generation, creating a larger and diversified marketing strategy.
- Immediate results: Unlike long-term strategies like content marketing or SEO, buying leads can produce immediate results, which is great for increasing revenue for new or growing agencies.
- Access to high-intent prospects: Many lead generation companies pre-screen leads, meaning agents are often connected with individuals actively seeking insurance, which helps increase the chances of converting the sale.
- Improved time management: Generating leads using organic methods takes time to produce positive results. Purchased leads provide immediate access to potential customers, allowing agents to focus on selling rather than cold-calling random customers.
- Exclusive access: Auto insurance is a massive industry, but having a steady stream of exclusive leads sold only to the agency gives the business an advantage over competitors relying on traditional methods like purchasing mailing lists.
- Testing the sales process: Buying leads allows the sales team to test different approaches and adjust their pitches to optimize the process.
How Much Are Auto Insurance Leads?
When it comes to purchasing auto insurance leads, there are factors to consider that will impact the price. A better quality lead with a high-intent consumer will always cost more than a random lead. Generally, prices range from about $5 to $25 for aged leads sold to multiple agencies. They can rise to about $75 to $100 or more for high-quality leads sold exclusively to one agency.
The source of the lead also impacts its price. Real-time leads, generated from consumers actively seeking quotes, are often pricier due to their high intent and recency. Leads from areas with large populations and higher insurance costs will cause the price to rise due to increased competition and potentially higher commissions. Agencies buying leads in bulk may be able to find better rates, but it’s important to consider the quality of each lead to optimize the return on investment. A more expensive lead that converts at a higher rate will often be more cost-effective than cheaper leads with lower conversion rates.
Ready to expand your business?
BrokerCalls™ offers highly qualified inbound calls and phone leads. Reach out and get started today.
Let’s Talk
Develop the Best Auto Insurance Lead Generation Campaign With BrokerCalls™
As Americans pay more and more for auto insurance, the days of relying on one provider for years at a time are slowly disappearing. In times like these, having effective auto insurance lead generation is more important than ever. BrokerCalls™ is a leading provider of high-quality auto insurance leads that are sold exclusively to our clients. All of our inbound calls for auto insurance are TCPA compliant to ensure they meet industry standards. We are a professional lead source for buying and selling leads. Please contact BrokerCalls™ at 855-268-3773 today or visit us on Facebook, LinkedIn, X, or Instagram to learn more about how our partnership can be mutually beneficial.
External Source
- Associated Press — Surging Auto Insurance Rates Squeeze Drivers, Fuel Inflation
