LEAD GEN STRATEGIES
Social media marketing from page 43
3 . Improve your success rate
Prioritize the best
You probably receive hundreds of leads , perhaps from different sources , but how are you to know which leads to prioritize ? Couple points to consider :
Females have a higher engagement rate and conversion rate on life insurance advertisements resulting in a 30 % lower cost per lead .
Also , the older the person , the more likely they are to engage with and convert on a life insurance advertisement . 65 + is the exception — they are the highest engaged segment , but have the lowest conversion rate to digital lead due to low trust . This key audience segment ideally needs an offline ( call center ) and online paired approach , so if you ’ re running a call center operation , this could be an ideal segment for you .
The best time to be speaking to leads is between 3pm and midnight . Leads are cheaper because we tend to see less competition on the platform during this time . And lead conversion rates are better because simply , people have more time to take action after seeing an ad and are therefore likely to engage in an agent conversation while life insurance is still front of mind .
Females vs . Males
COST PER LEAD
$ 50 $ 45 $ 40 $ 35 $ 30 $ 25 $ 20 $ 15 $ 10 $ 5 0
At the end of 2020 , there were 258m active users on Facebook in North America and 20m of these were easily identifiable as having an interest in life insurance .
$ 32
Females
16 % $ 44
Males
13 %
18 % 16 % 14 % 12 % 10 % 8 % 6 % 4 % 2 % 0
LEAD CONVERSION %
4 . Become a superstar !
The Golden Window
Cost per lead Lead conversion %
The highest chance of converting a life insurance lead happens when you are able to follow up immediately . When an ad is clicked , insurance is top of mind — this is the perfect time to initiate a conversation . But the longer that conversation takes , the more interest drops and the lower your chances of making the sale . We ’ re talking minutes — that ’ s how long leads should wait before being spoken to — that ’ s The Golden Window .
You need to be notified by your lead source as soon as a lead arrives , enabling you to call that lead immediately .
Getting more bang from your social leads is just a click away !
Hour of day analysis
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COST PER LEAD
$ 45 $ 40 $ 35 $ 30 $ 25 $ 20 $ 15 $ 10 $ 5 0
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13 % 13 % 13 % 12 %
14 %
18 % 18 % 18 % 17 % 17 % 17 % 17 % 17 % 17 %
16 % 16 % 15 % 15 % 15 % 15 % 15 %
14 % 14 % 14 %
$ 37 $ 40 $ 35 $ 36 $ 33 $ 33 $ 35 $ 36 $ 36 $ 38 $ 35 $ 35 $ 33 $ 33 $ 33 $ 31 $ 31 $ 30 $ 31 $ 29 $ 30 $ 29 $ 32 $ 31
12am 2am 4am 6am 8am 10am 12pm 2pm 4pm 6pm 8pm 10pm
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20 % 18 % 16 % 14 % 12 % 10 % 8 % 6 % 4 % 2 % 0 |
LEAD CONVERSION % |
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Cost per lead Lead conversion % |
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44 Perspectives Q2 2021