Perform^[cb] Transforms Top Insurance Marketer’s Call Strategy With 342% Growth in Call Revenue

Outcomes

Objective

A leading life and finance insurance provider embarked on a journey to enhance their lead generation and customer acquisition strategies. At the outset, the insurance marketer’s lead generation approach relied heavily on warm transfer calls. Perform^[cb] saw an opportunity to unlock even greater potential by diversifying their lead sources to maximize performance. The primary objective set for this partnership was clear: to obtain new policy enrollments at increased volumes for the insurance provider’s call center on an outcome-based model – AKA, only paying for new enrollments. The strategy was designed to not only increase the number of incoming calls but also to ensure that these calls translated into meaningful policy enrollments. 

Approach

The insurance marketer’s initial focus on warm transfers was a solid foundation for their campaign, but limited potential scale, prompting a strategic shift towards diversification and data-driven optimizations. To broaden their reach and tap into a wider pool of potential customers, Perform^[cb] introduced new lead generation experiences and channels: inbound leads (also known as click-to-call) and social. By diversifying traffic sources, the insurance provider’s customer acquisition reach was expanded, and could now capture qualified leads through multiple digital channels.

To ensure that the calls being generated were aligned with the insurance marketer’s ideal customer profile, Perform^[cb] relied on enhanced targeting capabilities. Geotargeting was implemented using a carefully curated list that excluded underperforming states and continuously optimized towards the top-performing regions as the campaign’s data set grew. This approach allowed us to refine the insurance marketer’s lead generation campaigns by concentrating resources on areas with the highest potential for success, improving efficiency and increasing the likelihood of quality conversions. 

Perform^[cb]’s approach also leveraged our team of expert media buyers, and AI-powered proprietary technology to study data sets and social learnings. By analyzing demographic user data, we could refine targeting and reach the correct customers at the right time. In an effort to further enhance campaign performance, Perform^[cb] guided the insurance provider to implement dayparting. Through an in-depth analysis, we prioritized days and times that produced the best down funnel campaign performance. 

This comprehensive approach focused on diversification, geotargeting, strategic optimizations, and data-driven insights played a pivotal role in exceeding the insurance marketer’s goal of increasing policy enrollments.

Results

Since starting with Perform^[cb], this leading life and finance insurance provider has seen a significant transformation in their lead generation efforts. In the first 8 months of their diversified strategy, they saw an impressive 10k+ billable calls. This call volume demonstrates the effectiveness of reaching a broader audience and expanding the brand’s potential customer base. Not only has the quantity of leads increased, the strategy changes resulted in higher intent callers, and a 56% increase in conversion rate month-over-month. All campaign optimizations have resulted in 342% growth in call revenue MoM for the insurance marketer. The substantial increase in call volume, along with consistently high conversion rates, exemplifies the power of an outcome-based approach in call generation.