Local Insurance Competition: How To Stand Out
Selling insurance often puts you in direct competition with other agents in your community. It doesn’t matter if you’re selling car, home, or life, you are up against an increasingly savvy batch of pros for a somewhat limited amount of prospects. How can you stand out from the rest and forge a business that not only pays your bills but provides a comfortable living? We’ve thought about this question and put together a few tips that we hope can ignite your creativity. Let’s get started!
Increase your visibility in the community.
In every city or town, there are opportunities to boost your visibility through service. Try to attend as many events in-person as you can, or sponsor as many as you can. Actually meeting the people who live and work in your community is the greatest exercise that you can do for conquering the first and most important role of any business — insurance sales and otherwise — knowing your audience. That’s an incredibly valuable benefit for recruiting customers from your community. You don’t have to do as much guesswork as to who they are, what drives them, and what they really need out of an insurance provider.
Boost your online visibility as well.
This is an area that many insurance agents have trouble with because they don’t see it as a direct benefit. Having a strong online presence may not directly increase revenue, but it certainly shortens the list of competitors when a prospect goes searching for car or home insurance agents in the area. The best ways for boosting your online visibility include starting a blog, having an active and creative social media profile, and starting a podcast that gets indexed in iTunes and Google Play. (Chances are most of your customers carry an iOS or Android-based phone.)
Offer your expertise.
Expertise is something that you can greatly enhance through the use of social media. By joining groups on Facebook or Twitter, you can communicate quickly and effectively with people from within your sales area. Answering insurance leads‘ questions on sites like Quora is also a great way to establish expertise, give value before a customer has even signed up, and be remembered the next time the prospect or someone they know is in the market for insurance. You can also use social media to connect with business reporters in the area who may be looking for expert sources that they can reach in a pinch for a quick quote that will add color to their stories. You get your name in print, and voila, you’ve increased your exposure to thousands across the entire circulation.
Perfect your personal branding.
If you are a sales agent, who works for a company, then this option isn’t within your control, but if you run your own agency, you have a great opportunity of going to every event in town without stepping a foot out of your house. I’m talking, of course, about T-shirts, coffee mugs, pens, and other items that spread your name into the area while requiring very little effort from you. Before going this route, you will want the name and the logo of your company to be set in stone. That means paying a professional designer or — if you have that skill — putting in the time to do it yourself. You don’t want to skimp on something like this, and time may not allow you to put everything you have into it, so if you’re looking at areas where you can outsource, this would be an effective utilization.
Start a B2B Networking group.
One thing that social media has done to the modern business owner is increase their desire to connect with real people, who can bring value to their lives. People get tired of the faceless, emotionless online communications that consume their lives. If you can create a group of masterminds from other businesses, you have real potential to get a foot in the door at businesses all over town as THE go-to person for purchasing insurance.
Your community is everything to your business and life. You want to have a great relationship with it, but the only way to do that is to carve a niche for your business. By following the tips listed above, you have the opportunity to stand out from the competition.