No business enjoys uncertainty, and by all counts, the economy looks like it may be heading into uncertain waters, driven by slumping consumer confidence, tariffs, and fears of a recession.
Many small business owners and individual consumers are approaching the coming months with a healthy dose of uncertainty.
Consumer confidence is at a 13-year low, according to the Conference Board's Consumer Price Index, and traders on Polymarket have priced the likelihood of a recession in 2025 at 64%.
But for financial professionals, today's uncertainty may present a marketing opportunity.
One great way to generate leads today, and to use any leads you buy, is to offer prospects messages about how you can help them get their financial house in order.
Money in Motion
Shopping for insurance may be up right now.
Shopping for personal auto and homeowners policies is up by more than 10% year over year, according to TransUnion's Personal Lines Trends and Perspectives report.
Shopping was highest among the consumers with the lowest credit scores, indicating that one of the key drivers was shoppers' hunt for ways to stretch their budgets.
That's the opposite from a year ago, when the shoppers with the highest credit scores were the most active.
This report was focused on property and casualty lines, but similar drivers could motivate buyers in other lines, including life insurance, group health, and even annuities.
Who's Shopping?
Here are some of the prospects who are looking for new ideas:
◆ Small business owners are trying to trim costs by shopping plans ahead of renewal cycles. That creates more opportunities for early-stage inquiries.
◆ Investors may want life insurance policies with a cash-value component that may act as a hedge against volatile securities markets.
◆ Near retirees are noticing that high interest rates are making annuities and cash-value life insurance more appealing.
◆ Retirees are looking for more affordable Medicare Advantage plans, and some need replacements for plans that are going away.
Preparing for the Recovery
Extensive research from previous recessions has proven that bucking the instinct to shift away from marketing efforts can pay major dividends in the end, especially as the economic clouds start to get gloomy.
That's because investing in marketing and lead generation through economic downturns has historically led to much better results once the economic conditions rebound. Once the clouds clear, the businesses that have kept their brands at the forefront and who were building solid customer bases will be the ones who are in the best position to ride the rising tide.
Jessica Leirer is a vice president at All Web Leads, a company that reaches consumers and converts them into leads, clicks and calls through sites such as InsuranceQuotes.com.
Credit: Adobe Stock
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