It’s never been easier for people to gather insurance quotes online. However, this added convenience for prospects has made it increasingly difficult for agencies to stand out. The good news is that there is a simple, proven method for getting attention and increasing your conversion ratios. Insurance proposal software such as Strong Proposals enables you to create and send eye-catching quotes that will set you apart from your competitors. Even better, you can embed a video within the proposal to truly connect with your future clients.
What is an Insurance Proposal Maker?
Before we dive into the perks of video proposals for insurance agencies, let’s take a moment to explore the other features that Strong Proposals can provide. This innovative online software makes it simple for agents to choose a pre-built template and fill it in with all the applicable information.
For example, you’ll be able to populate a side by side comparison of the prospect’s current policy versus what your agency can offer. But instead of this coming in the form of a boring, black and white PDF that’s filled with numbers and no imagery, your insurance proposal form will treat prospects to a summary that’s displayed in a familiar web page format.
The primary features of our insurance proposal software include:
- Pre-built templates
- Option to add video to each proposal
- Embedded testimonials
- Fully responsive form that can be viewed from any web-enabled device
- You’ll get an alert when a prospect is actively viewing your proposal
- Quotes can be sent via email or text
- The software sends automated follow-up messages
- Prospects get an apples-to-apples insurance comparison
- Includes comprehensive analytics for goal tracking
As you can see, this insurance proposal format is already light years ahead of the typical PDF form, even if you don’t take advantage of the video option. But if you want to truly impress prospects, it’s best to utilize every feature.
How do video proposals for insurance work?
In a nutshell, you’ll be able to record a video, and then either upload it directly to the proposal or embed it from YouTube. When a prospect clicks on the video, they’ll be greeted by whatever imagery you’ve prepared for them. We recommend letting them see you as you provide a tailored explanation of some of their quote’s highlights. You could also create one standard video that introduces them to you and your agency.
Try a Strong Proposals demo right now to see how videos can become one of the main conversion features of your insurance proposal introduction form.
Is Video Marketing Worth My Time and Investment?
According to HubSpot, 85 percent of businesses across a wide variety of industries have embraced online videos as an important piece of their overall marketing plan. Of these, 88 percent say that videos provide a positive return on investment.
Consumers have shown a clear preference for videos over text in all aspects of their lives. For instance, Facebook posts that contain a video receive a 65 percent increase in engagement. Even better, 62 percent of Facebook users said that seeing a video makes them more interested in the displayed product or brand.
Is it Expensive to Make Insurance Video Proposals?
Many people erroneously believe that they have to spend thousands of dollars to create high-quality videos that will attract new clients. The truth is that this misconception is far from the reality. In fact, most insurance agents already have a good enough camera sitting in their pocket. That’s right; smartphones have advanced to the point where they can even be used to make full-length movies, so filming video proposals for insurance is well within their capacity.
If you want to take your videos to the next level, you’ll want to set up a mini studio in your office or home. Again, this doesn’t need to be exorbitantly expensive, nor do you need a professional to set things up for you. Per HubSpot, it’s possible to create videos with a studio quality appearance by putting together a light kit that costs less than $100. If that’s outside your budget, the most recent iPhones have so many light settings that you can create a reasonable facsimile without spending any extra money on lights.
Tips for Getting the Best Quality Insurance Proposal Videos
You may be concerned that you’ll need some type of specialized experience to put together a worthwhile insurance video proposal. Fortunately, that’s not the case. What you will need is to familiarize yourself with your smartphone or camera and its settings. From there, the following will be essential:
- A tripod
- A clean backdrop
- Clear sound quality, which might require a microphone
- A quiet environment
- Good lighting
You’ll also need to conduct yourself in the proper manner. Remember: this will be the first time most of your prospects will ever see you, so make it count!
We suggest wearing a nice outfit, making sure your hair and skin look their best and taking the time to become comfortable with what you’ll be saying. If possible, memorize most or all of the script. This will make your video sound and look more natural, which can boost the client’s confidence in your insurance proposal.
Are Insurance Video Proposals a Good Idea for All Age Groups?
With Strong Proposals, your video presentation will be just part of an overall pitch that’s geared toward 21st century buyers. Millennials are a great example as they make up more than a quarter of the nation and are all between the ages of 20 and 40. In other words, this much-maligned generation spans a wider age range than most realize.
Millennials are also the most likely to be concerned about the price of certain policies, including life insurance. Between the streamlined appearance of each Strong Proposals’ template and the ability to connect with prospects via video, you can help educate these potential clients about the price versus the benefits of buying life insurance at a younger age.
Another strong perk of using video for insurance proposals is that you can make the process of understanding each quote much easier for people of all ages. Yes, in case you were wondering, the older generations are also very interested in watching online videos. Surprisingly, YouTube scores an even bigger share of the social media market than Facebook, attracting 73 percent of all U.S. adults as opposed to Facebook’s 69 percent.
When you break it down by age groups, you’ll see that more than half of all generations are used to receiving information via online videos.
- 15-25: 81 percent watch YouTube
- 26-35: 71 percent are YouTube viewers
- 36-45: 67 percent use YouTube
- 46-55: 66 percent watch videos on YouTube
- 56+: 58 percent use YouTube to view videos
- How to Best Utilize Video to Close the Deal
Now that you know how widespread online video consumption actually is, it’s time to work on how to close a deal with a video. The very best insurance agents always utilize relationship-based sales to improve conversions and renewal rates, although that can be difficult at times in today’s online world.
Consumers want information at their fingertips, but they also value transparency. One study showed that 73 percent of potential clients place transparency at the top of their list when researching new brands. Additionally, almost 40 percent of consumers would switch from their preferred brand to another company that offers more transparency.
Strong Proposals gives you the ability to build face to face transparency without being in the same room. When you present yourself in a professional, friendly and genuine manner, prospects are going to naturally gravitate more toward your agency. You can also prove that insurance proposals don’t have to be mind-numbingly boring by providing the key points via a highly visual and attention capturing media.
As previously mentioned, you have two primary options with these video insurance proposals: a customized video for each client or an agency introduction.
Customized – Creates a stronger connection with the prospect by making them feel more cared for and also provides you with the opportunity to explain things instead of simply presenting numbers. However, these videos also take more time and require a dedicated approach.
Agency Introduction – Enables prospects to get a basic idea about you and your agency. While this is still going to get more attention than a block of text, the lack of personalization will make it come off as more of a sales ad and less of a relationship building tool.
Learn More About Insurance Agency Business Proposals
No matter how you choose to use the video feature offered by Strong Proposals, this is a fantastic way to take your insurance quotes to the next level. Call us today to find out how we can help you impress your prospects and rise above your competitors!