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Home » Articles » Lead generation for financial advisors: is it necessary to outsource?

Lead generation for financial advisors: is it necessary to outsource?

Lead generation for financial advisors is it necessary to outsource
Lead generation for financial advisors is it necessary to outsource

Nearly all financial advisors find both lead generation and business growth challenges. Finding prospects who are willing to pay for your advice is quite hard. Thus, the question as to whether or not it is advantageous to resort to insurance agency outsourcing arises.

Is it practical to have insurance outsourcing companies try to bring in clients for you? Suppose you think that your marketing strategy for producing high-value leads costs higher than what you can hire from an external party. In that case, you might want to consider outsourcing your insurance lead generation.

Insurance lead generation

Insurance lead generation is a business strategy of deploying approaches and tactics that attract potential insurance customers and fill your funnel. 

To acquire the best lead generation results, you should learn how to align your strategies and tactics with life stages.

To effectively do this, many insurance companies resort to content marketing. This includes search engine optimization or SEO, content reviews, referrals, social media applications, and paid ad campaigns.

Insurance lead generation
Insurance lead generation

Benefits of outsourcing insurance lead generation

Executing lead generation strategies will take a lot of sweat from your team, Not unless you let an external party do those for you.

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Here are some of the advantages of outsourcing insurance lead generation for your company:

Increased potential for getting high-value leads

Insurance outsourcing companies double their efforts in engaging themselves in Public Relations, advertising, or marketing. These lead generation experts are results-driven, mainly because they would not get paid unless they bring in leads to you. 

Plus, when you prepare a Registered Investment Advisor (RIA) Solicitor Agreement, a contract can bind these outsource insurance professionals to deliver quality leads.

Filters your leads’ credentials better

The quality of leads matters. When you have low-quality leads, you are more likely to waste your time explaining things to people who only want to get specifics for additional knowledge without intending to purchase anything. 

You would rather spend time and effort on high-value leads to improve sales. When you outsource insurance lead generation, the third-party company ensures that your leads are filtered accordingly. 

They exert efforts from continually improving content targeting and cultivating social media skills and efforts to optimizing conversion.

Build your network with regional lead generation

Local lead generation is a compelling approach that companies use to grow the number of their prospects. Bringing in local clients is an excellent start for expanding strategies to new regions. 

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External agencies aim to acquire more high-quality leads by directly engaging with customers and regarding this as a top priority.

What is an appointment setting?

Appointment setting is the process in which prospects are scheduled to meet their respective sales representatives.

This way, businesses can offer a first impression to a prospect. With a good means of communication, meetings can eventually lead to a valid deal and might even be a good starting point for establishing long-term business relationships.

What is an appointment setting
What is an appointment setting

Benefits of outsourcing appointment setting

One of the most helpful business strategies when you want to have a fruitful appointment setting is outsourcing.

A few of the many benefits of outsourcing will let you have an investment that allows you to schedule appointments and increase employee satisfaction while reducing costs.

Easily spot available schedules.

The professional third-party appointment setters’ primary focus is setting up an appointment which means that they have full access to the appointment system. 

Since they need not do anything else but ensure quality appointments, they tend to see available schedules immediately.

Increase your schedule’s flexibility

When you outsource appointment settings, this particular process will no longer be your problem. It’s the outsource professionals’ responsibility to ensure that all the appointments fit your schedule. 

In addition, they are the ones to focus on metrics and gather information so you can take the burden off of yourself. Without stressing too much about this operation, you can focus on doing what you do best and have time to conceptualize how to improve some of your business components.

Adapt to the demand with ease

Outsourcing companies can adjust their services as needed. They can ramp services and workforce up or down based on your business objective or the pressure on your budget. 

This is an element to consider, especially for start-up companies, as more often than not, cash flow is what commonly hinders their business continuity.

Factors to consider to guarantee customer satisfaction

The advantages you will gain from outsourcing will lead to increased customer satisfaction. With this in mind, consider the following when you want to hire an outsourcing partner that will provide your business needs. 

Insurance business process outsourcing

Outsourcing the insurance business process can be an excellent stepping stone towards strategy expansion to other areas, thus, establishing a market of broader scope. 

Significantly, having insurance outsourcing companies take over some of your business activities and processes allows you to have a smooth flow in your core operations. 

This is a way to ensure that your clients only get a superior experience from you and your third-party service provider.

Insurance outsourcing companies

Insurance outsourcing companies are external organizations offering various services with the primary purpose of making the business process easier for their clients. 

They are ready to handle tasks that the main insurance companies delegate, such as appointment setting, lead generation, transcription, data entry, and more. This aspect helps free up internal resources and allows them to concentrate on their core processes.

Factors to consider to guarantee customer satisfaction
Factors to consider to guarantee customer satisfaction

Outsourcing insurance professionals

Outsourced insurance professionals are hired, trained, certified, and equipped with knowledge about various or specific insurance business operations by external agencies. 

Sometimes, they are independent contractors that small or start-up businesses may consider hiring to handle some transactional activities.

Lead generation and the entire insurance business process can be tough for financial advisors; hence, seeking assistance from experienced third-party insurance agencies and professionals can be a smart idea.

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Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO).

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Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between world-leading outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 450+ podcast episodes, and a comprehensive directory with 3,900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

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