Pros and Cons of Community Involvement as an Insurance Agent
Insurance agents already know they have to get their names out there and become an active part of the community.
It’s just the way that many choose to do it can vary wildly.
If you are weighing how to take a more active role, it’s important that you first study the pros and cons.
Below we’ve outlined each. Keep them in mind before you sponsor that event or run for a local office.
Pro: Immediately stand out from the competition
Let’s say that you decide to run for city council. The chance that the entire council will be made up of all insurance agents is not very likely.
Simply by running and winning the position, you’ll be able to stand out from other agents in your area. Of course, this is a tactic that is not without its caveats. For example…
Con: Risk of alienation
We live in a time where people are very critical of government on all levels. When making decisions that affect your entire community, it’s only inevitable that some of those decisions will be unpopular.
When you come down on the “wrong” side of an issue, people have a tendency to remember, and in close quarters, negative word-of-mouth can spread like wildfire.
Whenever you go drumming up insurance leads one at a time through cold calling and other more direct methods, it’s tough to scale your business.
But let’s say that you get your name out there in the community and you end up on the right side of an important issue or you support a cause near and dear to most people within the area.
When this happens, you may find your business exploding overnight.
That’s because people either need insurance or they want a better deal than what they’re getting on existing policies.
Visibility of this order will make you a natural stop as they shop around. Of course, there is a negative to this as well, and that is…
Con: No Direct Impact
At the end of the day, the only way that you are going to ever write new business is to take meetings and convince people why you’re their best option.
That requires setting appointments, drumming up qualified leads, and creating a marketing system that keeps you visible.
That’s a lot to take on when you add commitments elsewhere that have nothing to do with selling insurance.
It’s a bit of a gamble, but it’s one worth taking. That’s because of…
Pro: Good Word-of-Mouth
When a community involvement effort pays off, it can (and often does) result in great word-of-mouth, which can be your most effective marketing tool. So while running for office or hosting a positive and uplifting event may not have a direct impact on anything, it can lead indirectly to more success than you ever dreamed of.
The No. 1 Thing to Remember as You Pursue Community Involvement
What you put into it is often what you get out of it. Don’t go into something with dollar signs as your major motivation. Get involved at a level where you actually care about what you’re doing. That makes it easy to make a real difference and to improve the community of which you are a part.
There are positives and negatives to every action that you take as an insurance agent. You just have to weigh how you’re spending the time and resources that you have and place return on investment (ROI) at the forefront of most every decision. Community involvement can be fantastic for ROI. How are you getting involved?