10 Ways to Market Your Insurance Business for Free (or on the Cheap)
Getting the word out to the right people at the right time — that’s called marketing, not advertising, and if you do it effectively, then you don’t have to spend lots of money. You may not even need to spend a dime! Let’s look at 10 free ways to market your insurance business right now.
1. Build local awareness
The first thing you have to do is act locally. You need to create a buzz with the people, who are actually going to be buying from you. Now, many of the methods to come will play into this, but we thought it deserved its own spot at the top of the list because there are many different, unorthodox ways of accomplishing this goal that we simply can’t cover in nine additional items. A good place to start: your local Chamber of Commerce.
2. Utilize email marketing for easier lead generation
An email address is a valuable thing from a marketer’s perspective. When you have their email, you have a fast track to revenue production, provided you don’t misuse. Consider utilizing blogs, PPC/online advertising, and landing pages to capture emails in exchange for a freebie that your leads will find appealing (i.e. free reports, books, gifts, etc).
3. Use social media wisely
By “use social media wisely,” we mean a) post things that your prospects are interested in; b) boost posts that gain traction with a large organic reach; c) replicate popular posts to keep positive momentum going; and d) host occasional giveaways from your social media page.
4. Satisfy customer needs
Find out what the customer really wants, and no, it’s not the cheapest price, even if they tell you it is. They want value, so find out what their value magnet is and give it to them. The only ways to do this effectively: a) learn where the customer is in life; b) figure out what’s important to them; c) build a customized plan that meets their needs; and d) never, under any circumstances, sell them policies they don’t need.
5. Business cards. (It still works!)
Seriously, you can get free business cards online. All you have to pay is the shipping. A good designer/printer in your area may also be able to do the job for $50 or $60. From there, just take cards with you wherever you go and don’t go home until you’ve gotten rid of each one.
6. Donate to charities
Charities in your community service the needs of the community, and that’s something community members will appreciate whenever they are touched by the good that one of these charities do and they’re able to link that good to the support that you have shown. While there is a lot of nobility in the anonymous donation, there’s nothing wrong with giving to good causes with your name attached either.
7. Give personally without asking for anything in return
On this note, we’re not talking about organizational giving. We’re talking about doing something as simple as paying for a person’s groceries, who is in line behind you and leaving them with your business card. (No sales pitch, though. Just hand it to them, wish them a good day, and leave. They will remember it more.)
8. Consider a free class, seminar, or webinar on a topic of importance to your prospects
Find out what some of the key questions are that are being asked by people in your community with regard to insurance. Then, create a program around it, don’t charge anything for admission, and wait for the leads to come to you.
9. Contribute to a local newspaper or television news broadcast
News media are always looking for unique points of view to give readers professional insight. Consider submitting a column to a local news outlet or going on a live TV broadcast to discuss an issue related to your business that is in the news. Some TV stations are even open to regular segments.
10. Be engaged in other businesses within your community
One way to be more visible is to physically go to diners and restaurants, shop at Mom and Pop stores, get your taxes done from a local accountant. You get the point. Then, when you’ve had a positive experience, write an online review (with your contact information visible of course). This helps bolster the establishment’s reputation, and they will be more likely to refer you.
While we’ve covered just 10 free or cheap ways to market your insurance business, there are many more. Share your tips and tricks in the comments section below!