The insurance business is highly competitive – Geico has a marketing budget in the billions and Flo and Progressive are spending in the hundreds of millions. I would say the average agency owner is spending in the thousands. We work in a highly competitive market. With insurance companies such as Travelers and The Hartford, individual insurance agents are trying to cut prices and win over (or win back) our customers. As an independent insurance agent, this means that you need to stay on top of your marketing game in a BIG way, by applying effective and innovative marketing techniques.
Luckily, there are ways to accomplish this in a professional manner and without breaking the bank.
YOU MUST Sell Yourself
For many people, insurance can be a very emotional and personal purchase. I started my career in life insurance and we were trained to get our prospects to an emotional state by telling them stories that allowed them to place themselves into the story we were telling. When you are selling auto, home or umbrella insurance, your prospects are looking to not only purchase the best insurance policy at a reasonable rate, but they are also looking for an agent that they feel comfortable working with. This requires you to add your personality and your photo in your marketing materials. Whether you’re sharing your family’s vacation photos or a YouTube video, you want your prospects to identify with you. When your customers and make a personal connection connection with you (the only way you can build trust), they are more likely to do business with you. Insurance is being bought based on YOU! Sometimes, a simple Facebook post may be enough to kick start the relationship – you just never know. The one thing I do know is that people are not buying from you because of the insurance carrier. They are buying insurance from you based on who you are and the trust you have built.
Newsletters can work well
A printed hard copy newsletter or email version (I would send both) can help you share important industry information. But do not share only industry information. Also write stories about your charity work or stories about your clients, tips and advice for your prospects and/or customers. When you share information with prospects and customers that they can apply to real-life situations, you build credibility with your audience and that keeps them reading. It will also keeps them opening your emails in the future. The credibility that you develop through these newsletters can further solidify your position as an industry expert, and most people want to do business with industry experts.
Send a direct mail postcard or letter (the data we have collected shows that postcards work better) to your customers two or three times a year. Call it a check-in or check-up. Share news that will keep you connected with your client, while showing your concern. It shows them that you and your agency care. Your communication may mention that it is a good idea to review insurance policies on a regular basis because things change and we will only know that if we keep connected with them. You can also remind customers to inform you if their situation has changed so that you can work together to make any necessary changes in coverage to their policy. This is a highly effective indirect form of marketing because you are not trying to sell them on a specific insurance product or service but rather showing them your thoughtfulness, which may lead to a sale or an up-sell if the customer has a need for a new or changed policy.
I hope that these three tips will help you to continue to push your insurance agency’s marketing forward!