In the age of the digital and remote work environment, you may have wondered how to begin selling insurance online. Whether selling for some side income or working toward a full-time career, you can start a profitable business selling insurance online.
Technology has made online marketing easier than ever. From pay-per-click ads to social media and website tools, there is no shortage of ways to capture leads for your insurance sales funnel. But it takes skill as a salesperson to convert your leads into sales.
In this article, we’ll share what insurance you can sell, how much you can make, and tactics you can use to sell online and to build out your insurance sales funnel.
What Insurance Should I Sell?
There are many types of insurance that you can sell online, but selling health insurance might be the most profitable. Since health insurance is required by law, there are penalties for individuals who go more than three months without. And health insurance is needed at every age. This means there will be a constant demand for your product, leaving you with a large pool of potential customers.
On average, a family of four pays $1,437 per month for non-subsidized health insurance premiums. With healthcare costs steadily on the rise by 4-5% per year, you stand to make a substantial commission from each health insurance policy you sell. Since health insurance is such an investment, customers do extensive research before selecting a plan, giving you the opportunity to hone your sales skills.
How Much Can I Make Selling Insurance?
The average full-time online insurance salesperson earns $57,450 per year. Of course, there are many factors that can dictate your earning potential, including how much time you are able to spend nurturing leads and working with customers. If you are not looking for a full-time job in insurance, you can still earn money in your free time by promoting affiliate programs or referring quotes and applications to an agency’s website. Selling in that format pays either a commission per lead, roughly $5-$16 dollars, or up to $162 per sale.
What Tactics Can I Use to Earn More?
With the right mentality and tactics, you can use the online environment to your advantage to make money selling insurance.
Add Value Through Information
Your potential customers get quotes online and read reviews about agencies in an instant without any assistance. They can even fill out applications and purchase policies without ever talking to a human. But, insurance agency sales is complicated and being able to fill in the information gaps can help you close a sale. When you interact with a customer, take the time to explain terms they can understand. Emphasize the value of your knowledge during the purchase process.
Leverage Digital Marketing Tools
We’ve come a long way since the days of door-to-door sales. Current digital marketing tools give you the ability to reach an enormous number of prospects with the click of a button. These tools drive efficiency by finding and targeting a segment of prospects to focus your efforts on.
If you are looking to build your insurance sales funnel with the most efficiency, a crash course in digital marketing will do wonders for your business. Research tools and programs that teach you more about your audience and streamline your sales efforts. The return on investment will make you glad you did.
Curate Thought Leadership Content
Content is king when it comes to digital marketing. When you are just getting started in online insurance agency sales, you may be overwhelmed at the idea of creating original content for your website, social media, and other digital marketing channels. The good news is that there are droves of information and resources online to get you started in providing educational information to your customers.
Start with finding some engaging and informative content from other insurance agency sales resources online and share that with your customers to demonstrate the value of your services. Once you’ve become more established, you can begin to create your own content and resources to position yourself as a thought leader in your field. This will help you build and solidify trust with your current and potential customers.
Know Your Competition
Customers have a lot of options when it comes to picking insurance providers. Take the time to get to know your competition. Potential customers will ask about rate and coverage comparisons, and you must be able to state your position on why you are a better choice, especially if your prices are not lower. Be prepared to talk up your services without being negative about your competition.
Get More Leads with InsuredMine
If you’re ready to try online insurance agency sales, let InsuredMine help build your sales funnel. Our automated features help you efficiently capture and track leads, giving you more time to focus on sales. Try InsuredMine for free today.