How Can You Convert More Annuity Leads Into Sales?

Are you a financial advisor sitting on a pile of annuity leads but struggling to turn them into sales?

When it comes to annuity sales, it’s not just about getting names, emails, and numbers. It’s about turning these prospects into loyal clients who trust you with their financial future.

As a lead generation expert with years of experience working with financial advisors and insurance agents, here are my top tips on getting annuity leads to convert into sales.

Key Takeaways

If you’re in a hurry, here are the best ways to convert your annuity leads into sales:

Follow up using email marketing. The longer you follow-up with leads for the more conversions you’ll get.
Create free, valuable annuity content in the form of articles or YouTube videos.
Retarget existing leads via social media.
Create a video sales letter.

These strategies point in one direction–following up with your annuity leads to building trust with them. Once they’re sufficiently convinced, they easily become your clients.

I explained how to do this in detail in my free masterclass training. You can watch it here.

What Are The Best Strategies To Convert Annuity Leads Into Sales?

Financial advisors who want to convert their annuity leads into sales can do so using these strategies:

1. Follow up using email marketing

As I often recommend to my financial advisor clients, email marketing is an excellent strategy to convert annuity leads into clients.

I recommend the following:

Email leads automatically each week. By automating your email marketing you won’t need to think about it. Your leads will automatically convert into clients while you focus on other areas of your business (this is a service we provide for our done-for-you clients).
Share client testimonials. One of the best ways to convert leads into clients is by sharing client testimonials with your leads. This builds massive amounts of trust and significantly increases the chances leads convert into clients.
Provide Value. Each email should educate or offer something useful. Share helpful articles or YouTube videos with annuity advice that positions you as a trusted resource. Don’t just email leads selling to them all the time.
Compelling Subject Lines: Use a relevant subject line for every email you send. You can personalize by using names or referencing their financial situation. Another trick is to ask questions or highlight benefits to encourage opens. For example, “John, Worried About Outliving Your Savings?”
Personalization: Go beyond using names—tailor emails to specific interests or behaviors. For example, if a lead has shown interest in lifetime income, you can follow up with “How a Lifetime Annuity Can Give You Peace of Mind” and include a personalized offer for a free consultation.
Clear Call-to-actions: Ensure every email has a clear, action-oriented CTA to schedule a call. Create urgency if possible (for example, saying “now would be a great time to buy annuities because of interest rates”).

Also, send these emails from a personal work email address instead of a generic email. For example, I send follow-up emails on behalf of Skyline Social via ashley@skylinesocial.com instead of a generic email address.

It’s also important to track and optimize your email marketing strategy. Monitor metrics like open rates and conversions, and use A/B testing on various elements to see what works better.

In my experience, I’ve found annuity agents get an average open rate of 20% and an average click-through rate of 1-2%. I’d recommend aiming for these numbers or higher in your email marketing campaign!

Watch my free masterclass training to learn more techniques for building trust and converting more annuity leads into loyal clients through email marketing.

2. Create free valuable annuity content

Most financial advisors think they can stop creating content once they have annuity leads. But if you do this you’ll be missing out on huge amounts of conversions.

This is because generating leads is one of the first stages of the buyer journey. But there’s still a lot more you need to do to get leads to convert into clients. And creating content is one of the best ways to do that!

From my experience working with financial advisors, your content creation journey doesn’t end if you want to outshine your competition.

When you keep your annuity leads engaged and informed with relevant content, they are more likely to turn to you when they’re ready to make a decision.

So, what type of content are we talking about?

I’ve outlined some content types below:

Articles and Blogs

Regularly publishing articles and blogs on your website helps to educate your audience about annuities, retirement planning, and financial security. It also establishes you as an expert.

For example, you could write about “The Benefits of Fixed Annuities for Long-Term Security” or “How to Choose the Right Annuity for Your Retirement.”

This content answers common questions your leads might have, keeping them engaged and coming back for more.

Besides converting leads to clients, educational annuity content improves your search engine optimization (SEO).

In this video, I explain how SEO can be crucial to your overall marketing strategy.

Podcasts, Webinars, and In-Person Events

Podcasts and webinars are excellent educational content forms. You create them once, but their influence lasts as long as possible.

You can use these avenues to discuss topics that concern your potential annuity clients. For instance, a webinar titled “Understanding the Role of Annuities in a Secure Retirement Plan” can attract leads who are in the research phase.

You can also engage directly with your audience, answer their questions in real time, and build a personal connection, which you can leverage to drive sales.

If you prefer the traditional way, you can host physical seminars instead of webinars. You can also attend or organize gatherings where you are more likely to find your prospects. This option is especially ideal for financial advisors who want to convert local annuity leads.

One easy way to stay top-of-mind of your potential annuity clients is to share informative and engaging content on social media.

You can post snippets of your blogs, share quick tips about annuities, or post clients’ success stories (with their permission).

For example, a short thread on X about “How a deferred annuity can offer tax advantages” will pique the interests of your leads.

TIP: Based on the level of engagement you get from your posts, you can message your annuity prospects and have real human conversations with them. These sales tips will help get leads one step closer to conversion.

3. Create annuity video content for YouTube

Annuities can be confusing for prospects. It’s one reason why annuity leads stall in making a move.

But you can change that with video content.

Videos let you simplify complex annuity concepts using visual aids and direct explanations, helping your leads trust you more.

Here’s how you can use video content for converting annuity leads:

Create video content that answers questions people have about buying annuities
Post these videos on YouTube.
Monitor the engagements from your leads on these videos, especially questions.
Answer these questions in additional videos you send to your leads.

The play here is simple. You establish yourself as an expert when you create and consistently upload valuable annuity video content on YouTube.

Here are a few video content inspirations that have worked for my clients:

“Best of” videos such as “What are the best fixed annuities?”
“How to” videos such as “How to buy an annuity”
Comparison videos such as “Stocks vs Annuities: Which is better for retirement?”

Annuity leads only want to work with experts. The more you educate them, the more they are convinced you’re the right advisor to speak with. This is why YouTube is one of the best annuity lead generation strategies.

You can learn more about converting annuity leads with videos in my free masterclass training.

We’re not done with social media yet.

I’ve mentioned how you can engage your annuity leads on social media so that you stay on top of their minds. But that’s not all.

You can also retarget your existing leads, especially on platforms with low organic reach, like Facebook and TikTok.

How does it work?

First, install the Facebook or TikTok pixel on your website.

These social media platforms can match your leads to their user profiles, allowing you to serve targeted ads specifically to these prospects.

Your ads here must speak directly to your leads’ needs and concerns about annuities. Maybe it’s a short video explaining a complex concept or an eye-catching infographic comparing different annuity options.

The key here is to provide value, not just push for a sale.

Watch my free masterclass training to learn how to create the perfect ads to convert your annuity leads.

5. Create a Video Sales Letter

A video sales letter (VSL) is another effective video content you can use to convert your annuity leads.

I love to think about VSL as a sales representative who is always available to educate leads and convert them into sales appointments.

Here’s why it works:

It connects with annuity leads on a personal level while explaining a problem they may be facing.
It provides easy-to-understand solutions to that problem.
It allows you to demonstrate why your solution is better than what your leads have tried.
It includes a powerful call-to-action directing your annuity leads to the next step in your sales process.

I’ve recommended VSLs to many financial advisor clients who want to convert their annuity leads. They’re a crucial part of a successful appointment funnel.

Ready to create your VSL? Here are a few tips:

Keep it short: Aim for 2-3 minutes. You want to hook their interest, not overwhelm them.
Start strong: Grab their attention in the first 10 seconds, maybe with a surprising statistic or a relatable problem.
Focus on benefits: Don’t just list features. Explain how an annuity can improve their life or solve their problems.
Use storytelling: Share a brief case study of how you’ve helped someone similar to them.
End with a clear call to action: Tell them exactly what to do next, such as scheduling a call.

Step 2 of my free masterclass focuses on creating a VSL. You can watch it for free here.

6. Use better annuity lead sources

Annuity leads that you buy can be much harder to convert compared to getting annuity leads yourself through paid advertising platforms or organic channels.

This is why if after implementing the above strategies and not seeing any results, it’s probably worth thinking about the quality of the leads you’re getting in the first place.

Ask yourself:

Are these leads purchased from a lead database?

How much do the leads know about you?

Are the leads shared with other insurance agents or financial advisors?

What information has the lead given you?

How are the leads generated in the first place?

To get the high quality annuity appointments it’s important you educate your leads through content and add filters (such as an application form) to verify the lead is a good fit. This will make it much easier to sell annuities to clients.

Best Practices when Converting Annuity Leads to Sales

Before we round up, I have a few best practices I believe you should implement to boost your conversion rates:

Use clear call-to-actions (CTAs): Don’t leave your annuity leads guessing what to do next. Make your CTAs specific and prominent, and strategically place them throughout your website content, follow-up emails, videos, and social media posts.
Create a sense of urgency: While you shouldn’t use high-pressure tactics, a little urgency can motivate action. It could be a limited-time offer or highlighting how postponing decisions can impact retirement plans.
Track your results: You can’t improve what you don’t measure. Monitor your conversion rates, which strategies work best, and where leads are dropping off. Use this data to refine your approach.
Be patient – results take time: Rome wasn’t built in a day, and neither will your annuity leads convert in a day. Stay consistent and keep providing value until your prospect is ready, willing, and able to buy.
Follow up consistently: Don’t let leads slip off. Set up a systematic follow-up process, mixing emails, calls, and even direct mail. But remember, there’s a fine line between persistent and pushy.

Wrapping Up…

Converting annuity leads into sales isn’t always easy, but it’s definitely worth the effort. By implementing the strategies we’ve discussed, you’ll be well on your way to boosting your conversion rates and growing your business.

Remember, it’s not just about the tactics; it’s about building relationships and trust. Trust is essential in turning annuity leads into loyal clients.

So, be patient and consistent, and always focus on providing value to your prospects. Track your results, learn from what works (and what doesn’t), and keep refining your approach.

As a financial advisor, you can get many predictable annuity sales appointments monthly. I explained how in my free training here.

Frequently Asked Questions

Why is building trust important in converting annuity leads?

Building trust is essential because annuities involve long-term financial decisions. Consistent, valuable content and personalized communication help establish you as a trustworthy expert, making leads more likely to choose you when they’re ready to buy.

How can I differentiate myself from other annuity salespeople?

Stand out by offering personalized service, extensive knowledge of annuity, and transparency.

Create a Unique Selling Proposition (USP) focused on your expertise, trustworthiness, and tailored solutions that address individual client needs rather than using a one-size-fits-all approach.

How do I qualify an annuity lead?

Qualify an annuity lead by evaluating their financial goals, risk tolerance, age, and income needs. Assess whether they seek guaranteed income, protection from market volatility, or long-term growth.

Understand their specific needs to determine if an annuity aligns with their financial objectives.

How long does it take to convert an annuity lead into a sale?

The conversion time varies but often takes several weeks to months. Factors include lead quality, client education, and the complexity of the annuity solution you’re selling. Building trust, timely follow-ups, and addressing client concerns can speed up the process.

What are the most common mistakes to avoid when converting annuity leads?

These include neglecting follow-ups, providing insufficient education, pushing inappropriate products, and failing to build rapport.

Miscommunication or overwhelming the lead with jargon can also derail the process. For best results, focus on clear, honest communication and personalized solutions.

Ashley Davis

Ashley Davis (or ‘Ash’ for short) is the CEO & Founder of Skyline Social. For over 15 years, Ash has been helping business owners get high-quality leads, appointments, and clients each month. He has extensive experience working with B2B & B2C industries in finance, insurance, marketing, sales and beyond. Learn more about the author here.