Case Study: Getting 4x return on facebook ads for Health Insurance and Medicare leads

Do you think that reaching a 64+ year audience via Facebook is not possible? Keep reading and I am sure we will change your mind.

Problem: Consistent lead generation

Gary specializes in Medicare and he was looking for options to generate consistent leads. He does a great job in helping his current customers and they do send him referrals. But referrals are not a consistent source of leads and are hard to scale.

Hence he hired a lead aggregator to get consistent leads and maximize on open enrollment season. Soon he realized that leads which he was getting were shared with 20-30 more agents. Hence it was always a race where who can get to lead first and convert them as a customer. He realized that most of these leads were junk and even getting in touch with leads was impossible.

Then he tried paying for leads that were 4-5 times more costly and the aggregator promised that these leads are unique. Again leads had no connection with Gary and most of them will not respond. He had to spend a huge amount of time in follow-ups just to get someone to talk to him.

Solution: Building a personal brand and connecting with customers via effective ads

He reached out to us and informed us that he wants to generate consistent qualified leads. 

Try Friendly Agent to generate consistent leads for your agency .

Target Audience:

His target audience was 64+ year individuals looking for Medicare insurance. He wanted to focus on an area near his agency which was San Diego.

Message:

We worked with Gary to come with a message which will resonate with his audience. We also researched other competitors in the industry to find out what others are doing.

But the best way to find out what customers are looking for is by doing keyword research. By leveraging keyword research we were able to identify exact terms that customers used to find medicare insurance. It also gave us insights into what problems they are facing and their current challenges.

This helped us in refining messages and coming up with something which connected with customers.

Building Personal Brand :

People buy from people they know, like, and trust.  

In order to build trust among the audience we not only use Gary’s image on ad we also mentioned his agency address and license number.

When we started running ads thousands of people started to know that there is an agent in their area who specializes in medicare. This built his personal brand and his potential customers will remember him when they need medicare insurance.

Branding as a Competitive Advantage for Your Insurance Agency

Facebook Ads:

The easiest way to reach your target audience is by running Facebook ads. Once you figure out the right Facebook ad for your agency it will be like getting an ATM machine that dispenses new leads/customers.

We started targeting our audience with the right message and image to connect with them. 

 In order to achieve success in Facebook ads, you need to test multiple variations of message and image/video to find the winner. We ran a split test and eventually found our winner.

Facebook’s AI algorithm also needs some time to improve its targeting. So it’s better to start with a small budget first and concentrate on identifying the right ad recipe which works.  

In our case, in the initial few weeks, we were getting clicks but no conversion. We tested and perfected our ad recipe. Slowly facebook’s AI was able to target the right groups and we started to generate unique leads.

These leads wanted to connect with Gary because they saw his details in ad hence conversion was much better. When you generate leads via aggregators customers have no clue who you are.  

Automation to improve conversion

If you want to convert leads to customers then responding to them instantaneously is very important.

Hence we build multiple integrations where as soon as the lead submits its details we send email and SMS notification to Gary with their details. We also notified customers that Gary will be reaching out to them. 

Due to the automation, we built Gary was able to reach customers sometimes within 2 mins of their response to the ad.

Results

Gary fired his lead aggregator company as these ads were generating unique and qualified leads for a fraction of the cost.

He was getting new leads every day without spending any time in marketing. He was able to focus his energy in selling to these qualified customers in his area.

Since he is an expert in the San Diego area, he was able to suggest the right Medicare option which had doctors/providers which his customers were looking for.  

Customers were also happy as they were talking to someone who lives nearby and understands them. Most companies they earlier interacted with were call centers where an out of state representative may talk to them and will have no clue about doctors/providers in their region.

Next Medicare open enrollment season he can hire 10 more people and scale up lead generation by 10 times. He can also open agencies across the US and increase his customer base 1000 times. This is the power of having scalable lead generation.

Below we have shared screenshots from Facebook ads manager for medicare ads.

This campaign was used for Branding ad which was aimed at finding the right message.

This is a Lead generation campaign

Want similar results for your business? Try  Exclusive Medicare Leads

What Next

Connect with our team to see if facebook is right for you to generate medicare leads. We are now working with some of our clients in creating ad recipes for other lines of business like Life insurance, health insurance, home insurance, etc.

Currently, we have limited bandwidth to take new clients for the next few months but please feel free to set up a time to connect with us. Based on your requirement we can add you to our wait list and will let you know once we are ready to onboard.

Signup for below mentioned webinar to learn “How to this Insurance Agency became a $450Million Company in 4yr?” Click Image below

 

Hopefully, these insurance marketing ideas and strategies were useful to you and helped in learning something new. Please share it with anyone who may benefit from it.