- Newsletters can be an effective insurance marketing tool.business report image by Christopher Hall from Fotolia.com
Because of the high level of competition in the insurance industry, individual agencies must create effective marketing strategies. As you plan marketing campaigns, focus on building awareness in your local area through education, dispelling insurance myths, and working with other local businesses to gain access to potential customers. - When customers are faced with a choice of insurance companies, they will often choose the one that has created a public image of reliability and the one which has a greater name recognition. Therefore, marketing strategies that build credibility and awareness can lead to more leads and sales opportunities. As you make a marketing plan for the year, build in simple activities that will increase your profile in the community, choosing events that will build your reputation as an expert and trust among potential customers. You might write a financial and insurance column for a local newspaper, for example, or lead a series of public education courses at a community center. Both will educate and provide value to potential customers while getting your agency's name out in the community. You can also sponsor local groups, volunteer for charity events and participate in community business meetings.
- Because a good deal of marketing and information exchange happens online, quality print marketing materials can have a big, tactile impact on potential customers. To convince customers that your insurance agency is a real business with real people---as opposed to the shady online businesses they are exposed to---emphasize your physical location and create a design that is not too flashy. Instead, strive to let customers know that you exist outside of the physical world. You might choose to send out a monthly or quarterly newsletter, for example, or send a simple sales sheet that advertises new promotions and updates on insurance rates. When mailing to current customers, include a referral card that offers a reward or discount when they pass your agency's name on to another person.
- To have immediate access to a wide range of potential customers, partner with local companies. If your agency sells health insurance, approach local businesses with an offer of special rates for companywide insurance policies. If you offer auto insurance, work with car lots to negotiate a discounted rate for new customers when they purchase a car from the agency; the arrangement will benefit the customers with the cheaper rate and the car lot because of the additional interest in the car/insurance package. If you provide insurance for homes or renters, get in touch with real estate agents to work out potential specials and promotions.
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