5 tips to increase business leads (Proven Ones)

generate business leads

Selling insurance policies is all about people. The higher the number of people you approach, the higher would be the commission you earn. In fact, there is a 10-3-1 rule which is relevant in the insurance sector. This rule states that out of every 10 business leads you approach, 3 would meet with you and only 1 would actually buy an insurance policy from you. So, in order to sell one policy, you need at least 10 business leads. Do you know how to generate and increase business leads?


Before we talk about how to generate leads, let’s understand the types of leads first. Business leads can be–


  • Hot leads, who are individuals who know you very well and who would definitely buy insurance from you
  • Warm leads, who are your acquaintances who would show interest in the insurance plan you sell but might or might not buy from you
  • Cold leads, who are complete strangers and who don’t know you. They usually would not buy from you because of a lack of familiarity. However, if approached professionally, cold leads can also give business
  • Natural leads, who are your natural client base of people whom you know
  • Referral leads who are those leads which you get from natural leads or from clients you have spoken to


Now that you know the different types of leads, here’s how you can increase business leads for your insurance business–


  1. Tap into your natural market

This is a no-brainer. When you start your insurance career, your natural market is the one which you approach first for the lead generation. So, make a list of all the individuals you know. Avoid your immediate family and friends. They would buy a policy from you because of your relationship with them and not because they need the policy. Choose your acquaintances as your primary client base. Acquaintances are people who know you but are not obligated to buy from you. Meet with them and present your business proposal. Take feedback from them regarding the quality of the proposal presented. They would give you an honest review which would be helpful for you to learn the ropes of selling insurance. You would also gain valuable experience in selling insurance to other individuals.


  1. Use cold leads

Your natural market is limited. At one point or another, you have to resort to cold leads to increase your client base. Create a value proposition for your cold leads and then approach them. Try cold-calling and sell your value proposition. Even if the cold leads do not show interest in buying insurance from you, ask them to provide you a feedback for your proposal. They would give you an honest feedback.


  1. Use social media as a business tool

Social media is the place to be for most individuals, young and new alike. Besides providing you with a platform to connect with individuals, social media sites are also a great marketplace for selling insurance policies. Whether it is Facebook, WhatsApp, Twitter or any other platform, use them to your advantage for an online lead generation. Advertise your business on social media platforms for attracting clients. Use your social media contact list to generate leads.


  1. Attend insurance seminars and events

Various seminars, convocations, and events are held for honoring insurance agents, launching a new product, discussing new changes in regulations and for various other reasons. These seminars and events are a gold mine of leads. You can connect with people attending the seminars and increase your business network. You can also join reputed clubs and get access to the database of club members for generating leads. They would be good lead generators for sale of insurance plans.


  1. Ask for referrals

The referral market is also an untapped zone which you can explore. After you have closed a successful sale, you can ask your clients to give you referral leads. Your clients have their own network and getting referrals from them would serve you two benefits. One, you can give your client’s reference to the referral lead. This would make approaching the lead easier. Two, you get to increase your client base. So, always ask your clients for referrals not only after closing their sale but also at the time of their policy renewals. Discover more ways to generate referral leads by clicking here.


These tips are some of the proven ones which help in increasing business leads. You can use all these tips and build up a large base of leads. The larger the base the higher would be your earnings. Click to learn insurance selling strategy and convert your customer’s NO to YES!


So, utilize these tips, get more leads for your business and put your insurance career in the direction of growth.

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