5 Types Of Insurance Marketing
Closing a sale can command the lion’s share of your attention as an insurance agent, but neglecting other areas of your career can knock everything off track. One of the most important things you can do is market effectively and across a number of channels. For today’s purposes, we’ve pinpointed five types of marketing that can be highly effective for insurance agents. Let’s spend a little time with each one, shall we?
This particular type of marketing sounds like more trouble than it is. Most of it can be automated without actually feeling that way. You simply choose a medium — email is the most popular form — and you create a series of pre-written messages that speak to a specific client behavior. Then, over time, those messages will drip down to the customer or prospect in a way that is relevant to whatever they’re currently going through. For example, if an insurance lead is shopping for insurance, then you might schedule a series of messages that roll out over time and state things like thanking them for their time and “if you’re still shopping….” You get the point.
Direct mail marketing
For all of its cost and troubles, direct mail continues to be an effective way of staying in front of your prospects and customers and establishing legitimacy in the process. After all, no one would go to the trouble of laying out the overhead for printed materials and postage unless they had something they could offer, right? While your success rate will probably be somewhat low, it still gets the job done. You’ll just want to pay special attention to response rates in order to determine whether the investment is worthwhile.
My personal favorite because it can reach thousands of people without costing you a dime. One of the easiest and best ways of letting people know you’re out there without beating them over the head with the information is to get featured in your local newspaper or by your area’s TV station. Making friends with a reporter or news director and offering yourself as a go-to source on your area of expertise can pay huge dividends once they take advantage of what you’re offering (free content).
Or, doing whatever you can to build trust and respect between you and your client. The thing that’s effective about relationship marketing is that it leads to some strong word-of-mouth sales, and effectively places your search for qualified referrals on auto-pilot. To make the most of relationship marketing, we recommend making time for your clients whenever necessary, learning as much as you can about them, connecting to what you learn in a meaningful way, and keeping the conversation going over time.
There may be some capital outlay for this, but talk about getting your name in front of a lot of insurance prospects at once! Consider sponsoring something that your area’s high school is doing — a driver’s ed course or a school play or a “fifth quarter” celebration after Friday night’s football game. If the community knows you’re behind it, who do you think they’re going to come to when their child turns 16 and hits the open road for the first time? Or when they buy a new home? Or when they find out they’re having a child and rush off to buy life insurance? Answer: the most recognizable and personable face they can find, that’s who!
Marketing is at its most effective when you’re testing and testing and testing some more. When you have several irons in the fire, see what is yielding the best results and recalibrate where you’re placing those resources. In time, you can maximize your efforts and grow your customer base exponentially.