Life insurance wholesalers can win more business and earn more money by using technology that spotlights which agents are ready to buy, and which products they’re interested in.
The key to unlocking these insights is intent data, which reveals which insurance agents are currently looking for solutions like yours. That’s a huge advantage when you cover a vast territory, since it allows you to tighten your focus on the best sales opportunities.
Here are three ways you can use intent data to connect with more agents, generate more revenue, and boost ROI.
Growth Strategy No. 1: Prioritizing Within Your Territory
Advisors aren’t perpetually in search of insurance solutions. One of the biggest challenges is identifying which prospects are in-market — aka looking to make a purchase right now. Across industries, only about 10% of B2B accounts are in a buying cycle at any given time. By spotting and focusing on these accounts, you can generate revenue more easily.
To do this, you need an account-based sales intelligence platform that can capture intent signals, connect those signals to specific accounts, and alert you when accounts in your territory are ready to buy.
Intent data also helps you sharpen your communications, further increasing your odds of winning deals. For instance, 6sense gathers account data like:
- Keywords and topics they are researching that are relevant to your sales opportunities
- What they are researching on third-party sites
- Research they may be doing anonymously on your own website
You can use this information to craft personalized marketing campaigns that reach in-market advisors and educate them about the products you offer that match their interests. You can also quickly establish value when calling prospects, since you can focus immediately on their immediate needs.
One easy example: For instance, if you know that Morgan Stanley advisors within your territory are searching for insurance solutions, you can focus most of your outreach on Morgan Stanley advisors versus those from another firm.
Growth Strategy No. 2: Targeting New Advisors
About 30,000 new financial advisors enter the workforce every year. While it may be tempting to focus on long-established relationships, these newcomers represent huge opportunities for growth. New advisors are hungry to learn, often receptive to diverse insurance solutions, and primed for your outreach.
They need impactful yet accessible information. You can start building a relationship with them by simply crafting a helpful blog post or two shared through LinkedIn to get advisors to your website.
Once the new advisors land on the website, a pivotal phase begins, and data-driven tools like 6sense can be indispensable.
6sense can help you determine which accounts advisors work for. Combine that info with geolocation data, and you can hone in on the right people to contact. Once you know who you want to contact, you can then use 6sense to acquire contact information pulled from our massive contact database.
Growth Strategy No. 3: Warming the Highest Priority Accounts
One of the biggest revenue opportunities for an insurance company is getting “on the platform” for a major wealth management firm. To win major accounts, you need to influence multiple stakeholders within the business.
Every insurer, likely including yours, has a shortlist of preferred firms for platform inclusion. These are the accounts that often inspire a strategic approach called account-based marketing (ABM). ABM tactics concentrate marketing efforts, content dissemination, and engagement initiatives toward these select firms. The objective is to both reinforce your brand’s presence and to foster a positive impression that resonates across entire organizations.
6sense adds a data-driven layer of sophistication to this strategy. Using 6sense, insurers can see how effectively they are influencing accounts by knowing:
- How often your messages are being seen
- How many people within an account are engaged in research
- Where the account is in its buying journey, and
- Which of your efforts are moving the needle
That second bullet is bolded because it’s crucial.
To win a big account, it’s important to engage multiple stakeholders. Using 6sense, you can identify key decision makers, acquire their contact info, and enroll them in campaigns designed to match their buyer persona. We call this multi-threading, and it enhances your chance of winning deals.
Conclusion
The path to better ROI for your insurance marketing strategy starts with
- Focusing on the right advisors when you’re already on the firm’s platform
- Determining new platforms to target
Data-driven insights can tell you who to target, when to target them, and which value propositions will have the most impact.
Learn more about how 6sense helps financial services companies.
