In this article, we’ll show you why commercial real estate leads are not as difficult to come by as they used to be for insurance providers.
We’ll look at the new ways that you can find viable prospects, including using Reonomy and your own website to drive highly targeted inbound leads.
Commercial Property Insurance
What does commercial property insurance cover?
Before we dive into how to generate leads, let’s explore what exactly commercial property insurance is.
Commercial property insurance protects an owner’s asset and the contents within it from various types of damage and other unforeseen circumstances—such as fires, hail and wind damage, vandalism, pipe-bursts, theft, and so on.
In this sense, “property” can refer to the possessions that an owner needs to run a business, including everything in and outside of a building, not just the structure itself.
In full, commercial property insurance covers:
- The building itself.
- Fencing, landscaping, signs, and other exterior facets of a property.
- Business equipment and computers.
- A business’ inventory.
- Essential company documents.
More serious disasters, like hurricanes, earthquakes, and flooding often will not be covered in a standard insurance policy, requiring more extensive clauses or a separate plan altogether.
What factors into determining an asset’s required level of coverage?
When determining the appropriate coverage for an asset and its contents, commercial insurance companies will look at the following:
- Asset Location: Certain cities and towns, and areas within those places, are more prone to fires, severe weather, and crime. As you might imagine, assets in a city with high levels of fire protection and a rainy climate won’t need the same coverage as one in an extremely dry and hot climate.
- How the building was constructed: Is the material make-up of the building more or less prone to fire and storm damage?
- Current use of the building: Higher intensity uses of a building—for example, the handling of flammable or hazardous materials—will have much worse fire and safety ratings compared to, say, an apartment building.
- Proximity to help: What is the building’s proximity to the nearest fire station. How accessible is the property to those that can help in an emergency?
- Fire and safety protection: What are the safety features of the building itself? Does it have a sprinkler system or security system in place?
All in all, commercial insurance providers simply assess a property’s level of risk with regards to safety and the chance to attain damage. The more likely a property is to experience some kind of harm, the greater their coverage should be.
What does commercial property insurance cost owners?
According to FitSmallBusiness, most small business owners can expect to pay somewhere from $500 to $1000 in property insurance annually, though large corporations could have annual costs of a hundred thousand or more.
The real answer is that it depends, considering the vast differences between different commercial assets, businesses, and locations around the country.
Given the amount of collateral at stake, though, commercial property owners, tenants, and investors of all kinds aren’t likely to play a game of chance when it comes to property insurance.
For commercial insurance providers, that signals a grand an ongoing source of new business across the country. Finding recent property buyers and commercial tenants, however, hasn’t always been an easy code to crack.
Generating Commercial Insurance Leads
Until recently, the common ways to generate commercial insurance leads was to do so through referrals, marketing, or by purchasing them through commercial insurance lead companies like NetQuote and Datalot.
Other than that, the only other option has long been to analyze recent public sales records to find recent sales deeds, then dig to find the necessary contact information of someone associated with the property or relevant LLCs.
With Reonomy, finding recent buyers, investors, and tenants of a commercial property is simple, and can be done in any county nationwide.
How to Find Commercial Insurance Leads with Reonomy
Using Reonomy, you can search and find recently sold commercial properties in any market, and see the name and contact information of the owner and business tenants of the property.
You can search any market nationwide for an inordinate amount of property class and sub-classes, filter them down by building and lot size and age, then target them by transaction history.
Sales filters on Reonomy include the ability to search by most recent sales date.
To find commercial insurance leads, you can search for properties sold within the last 90 days, one year, and on, or you can add a custom date range of your choice.
In a list of results, Reonomy’s “table” view lets you sort properties by their sale date to see those most recently sold at the top of your list.
You can search by building and lot specs like size and building age, to find the assets within your range of coverage.
To see properties with certain kinds of business tenants, you can also search based on NAICS and SIC code classifications, by the name of the tenant, or by their web address.
From there, all you have to do is click into an individual property’s profile page, and visit the Ownership and Tenant tabs to see who the current property owners and tenants are, along with their contact information.
This allows you to find leads that can not only bring you business today, but that can also bring you repeated business on an ongoing basis.
How to Generate Commercial Insurance Leads through Inbound Marketing
Across all industries, companies continue to move their lead generation efforts more and more towards inbound marketing.
Inbound marketing is the process of setting up a website and other online content that allows leads to come to you, instead of you having to track them down and reach out with a cold pitch.
Think of it as a web.
If you set up a single web in the right way, where certain web viewers tend to exist, you’ll continuously catch those trying to pass through. As expected though, there is routine maintenance needed to keep that web holding strong.
Optimizing Your Website for 2019 and Beyond
Generating commercial insurance leads through inbound tactics is a matter of pairing really precise audience targeting with strong design, content, and a lot of persistence.
Below, we’ll look at the elements that you should pay the closest attention to when building a website that is primed for generating a high volume of targeted commercial insurance leads.
1. Make Sure Your Site is User-Friendly.
First and foremost, if anything sits above all else, it is creating a website that is convenient, easy, and enjoyable to navigate.
This starts with the structure of your pages. Is it easy for a visitor to get from your homepage (likely the broadest in terms of its contents), all the way down to very specific pages catered to them?
Perhaps you have web pages for different markets or property types that you offer coverage for. Say, you offer property insurance for mid-size office buildings. A property or business owner should have no trouble figuring out the steps needed to get to the hyper-targeted web or landing pages.
Speaking of landing pages…
2. Drive visitors to landing pages and insurance quote forms.
To capture an inbound lead, you need to give them a place to give you their information.
This can be done by building a variety of landing pages and forms for them to apply for a quote—you can link out to these pages throughout your website.
You can drive your audience to landing pages by incorporating stand-out call-to-action buttons.
Those CTA buttons could be a different color to everything else on your site to catch the eye of the viewer, and should include specific copy that moves them closer to becoming a lead.
Examples of copy could be, “Get a Free Quote Today,” or “Talk to an Agent Now.”
3. Custom branding and design.
It might take the help of freelancers or an agency, but getting the aesthetics right with your website can be huge for viewer experience and generating high-intent insurance leads.
There are many ways to keep web visitors intrigued when they’re on your site. Powerful copy and design can inspire a visitor and make them truly “feel” your brand.
In the world of marketing, making leads feel good about themselves is the first step in starting a business relationship with them.
4. Optimize your site’s performance.
Make sure the speed of your webpages is as fast as possible with tools like Google PageSpeed Insights. Not only is the preferable for visitors, but it also helps largely with your site’s organic search performance.
Secondly, make sure all of your webpages are mobile friendly. Again, with tools like Google Search Console, you can easily monitor the mobile performance of your website.
5. Persistently publish SEO articles.
Optimizing your site for search engines is extremely important to ensure that you show up in search queries that signal a need for your business (in the right markets).
One part of this is having a cohesive site structure. The second is persistently publishing articles on your site that serve great value to your target audience.
By pushing out useful content built around keywords that target property and business owners in need of insurance, your audience will consistently find their way to your website, highly increasing the chance that they become a client—not to mention that they typically convert to clients at a high rate.
6. Use video.
Video is intriguing, informative, and powerful.
Incorporate video to show your website visitors how your company works and what you can offer.
Furthermore, higher success with SEO is correlated to higher page dwell times. One of the biggest drivers of high dwell times is the inclusion of video.
Video helps keep viewers on your site for longer, so you’re looking at a greater chance that they signup.
Maintaining a well-optimized website is not an easy task, and can be fairly time-consuming.
Reonomy lets you get immediately in touch with the right property owners, which can save you time researching—time that can be spent on building a killer website that’ll generate commercial insurance leads for years to come.
Combining the new school approaches of using Reonomy and your website to generate commercial leads could be the difference in building a business that’s successful today, versus building a business that is successful for years and decades to come.