11 Life Insurance Marketing Strategies

Life insurance is one of those things that most people believe that they’ll need, but just not today. It’s really easy to procrastinate on this need for a variety of reasons. The job of your marketing strategies is pretty simple. Eliminate the idea that procrastination is fine to do and then provide that prospect with a policy that will give them the right amount of coverage for the right price. The job might be simple, but the implementation of your marketing strategy could be difficult.

To make the implementation process easier, you’ve first got to know what it is that sets your products apart from the rest of your local and national competition. Your prospects are undoubtedly receiving numerous marketing pitches that all have one specific feature that is emphasized so that a sale can be created. Not only must you also do this, but you must find that one strength that outclasses the strengths of everyone else. Find it, put it into your marketing strategy, and you’ll have prepared yourself for more conversions.

Great Life Insurance Marketing Strategies

1. Let Your Story Do the Work
People tend to engage more with marketing strategies that do a good job of telling a specific story. You preferable want this story to relate to your prospects in some way. The best stories are often those of real examples that have benefited existing clients so that your prospects can see real value in motion instead of what could potentially be really good fiction.

2. Make Sure You Listen
The best life insurance marketing strategies are the ones that make listening a top priority. Instead of talking at your prospects, let them have an easy way to tell you what it is that they’re concerned about. When you get this information, then you’ve got everything you need to begin creating a customized 1:1 marketing pitch that will begin the formation of an organic relationship and its associated brand loyalty.

3. Add Ideas Every Marketing Cycle
Any good marketing strategy should incorporate a minimum of 5 ideas to try on your target demographic. Don’t choose these ideas randomly. Test your market, get involved with your targeted demographics, and find out what it is that they care about the most with your products. From there, you can match the strengths of your policies to your marketing communication to make the most impact. Why 5 ideas? Because not every good idea is actually a valuable one.

4. Make Your Brand a Community Brand
If your customers feel like they are part of a niche community, then they will better associate with your branding. This will create a solid foundation of word-of-mouth advertising that will bring in referrals consistently.

5. Reward Your Ambassadors
Pay attention to the people who are out there in your community, telling people about how awesome you are. These are the people you want to keep happy, so reward them in some way. You don’t have to make that reward be a policy discount, although that doesn’t hurt. Charitable donations in their name, finding ways to pay it forward, or letting them take their family out for coffee on your dime are all ways to show your appreciation so the good words will keep flowing.

6. Invest Your Time
Even the best marketing strategies are going to fail if there isn’t enough sweat equity put into their implementation and maintenance. Try to spend a minimum of 60 minutes every day marketing your brand of life insurance in some way. Don’t be satisfied with co-op branding or regional advertising efforts to bring in leads. Something as simple as walking down the street, handing out business cards with a small treat attached, can help you market your brand effectively.

7. Cut Through the Noise
Content has gotten so bad on the internet and in marketing in general that people just don’t believe anything they read today unless there is evidence AND experience behind the words. Having a confident attitude behind your marketing strategy is wonderful, but confidence is not match for experience. Show your experience to your targeted demographic, provide evidence of your experience, and you’ll cut through the noise.

8. You Need a Book
If you’ve got a free ebook that you can just send to people for free about the benefits of life insurance, then you’ll have a powerful marketing tool that will become the pillar of many marketing strategies. A good ebook will not only show people that your experience is proven and you’ve got the expertise they need, but it also helps to develop your message. You cannot write an extended piece of literature without a theme, so find the theme and you’ll have your message.

9. Provide Something Promotable
Media representatives are bombarded with marketing materials because everyone wants free press if they can get it. Unless you have something of value that your local media outlets can genuinely promote and get behind, you’re not likely to get any of your press releases published at all. It doesn’t have to be something major. Even a simple cookout for your clients is a way to show your customer base that you appreciate them and still have something great to print.

10. Segment, Segment, Segment
Although life insurance is a generalized product, different segments of your market are going to be attracted to different features that you can provide them. Your marketing strategy cannot be a one-sized-fits-all type of effort because of this. You must be able to segment your market into different categories. Think of it like how you’d identify a community. You’ve got a national level that includes everyone. You’ve got a state or province. Then you’ve got a small county community structure. Then you have the community where you’re located. There are neighborhoods in each community. That’s what you’ve got to do.

11. Get Involved
The ultimate marketing strategy will always involve relationships. The more you get involved with your local community in a variety of ways, the easier it will be to form natural relationships that will draw people to you when they’re ready to address their life insurance needs.

Life Insurance Statistics in the US

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