What life insurance does?
One question I hear all the time is about leads. Qualified leads. Good lead companies. Leads that work.
Whew! It’s exhausting!
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And my usual response is, “Maybe you need more ‘qualified’ leads or maybe what you need are more leads to qualify.”
It’s about your marketing plan and your activity plan – those are the things that will drive your business.
LIMRA recently released a report about what’s fueling the purchase of life insurance in a niche market. Lo and behold, right inside of this insightful report we see an outline of a marketing plan.
Let me show you how I find a marketing plan in this report.
The report informs us that this niche market has a higher level of financial concern than the overall population, and that financial concern has been exacerbated by COVID-19. Does this mean a marketing message that addresses how this financial concern can be tackled would resonate with this niche market?
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What if our marketing message told a story of how consumers in this niche market can ensure their family could pay their monthly bills or their mortgage while preventing their loved ones left behind from facing a difficult situation due to a premature de /ath?
OK, I know. Duh … that’s what life insurance does.
But this is a primary concern to 44% of this niche market, the report states.
Here’s the thing – the report tells me this niche market is more likely than the general population to own individual life insurance. So would the right message, targeted to this niche market with a strong call to action generate activity? And didn’t we mention we need activity?
Nearly six in 10 members of this niche market (58%) own individual coverage. Compare that percentage with the 52% of the general population that owns individual life insurance, and it seems like a big market.
Another insight I found in this report is 25% of this market segment owns group life insurance, a 5% increase from 2020. We all know what happens to group life insurance when you leave your workplace or you retire. So there’s a marketing message that can be targeted to this specific niche – what do you think?
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