Insurance Brokerage: How to Market Yourself As The Best
When looking for marketing strategies for an insurance brokerage, it’s the best to look at it from a client-centric point of view. The insurance industry has two sides. One being the insurers and the other being insureds. When marketing to the insureds, there seems to be a general disconnect between the two parties. This is where insurance brokerage comes to the picture.
The whole stand of the insurance industry is to work to provide coverage to people who want it. In this, an insurance brokerage is a business organization that primarily caters to its clients. They are responsible for finding the best coverages with the best policies to provide maximum benefits for the clients.
Keeping the emphasis on being client-centric, there are many things you have to do make the best marketing strategies as an insurance brokerage company. Here are some of them.
In this blog
Assert your Importance
People generally dismiss the idea of hiring brokers because of the stereotypical concept that they take extra commissions to find appropriate coverage thus making the process more costly. This is not true. Your job as a broker is to work in the best interest of your clientele.
Insurance brokerages are experts in insurance protection. If you educate your target audience about your importance, then you can attract more clients. For example, using analogies or catchy phrases to market yourself can work in asserting your importance without being too obvious about it.
E-mail Campaigns Work Well for An Insurance Brokerage
Marketing via e-mails is one of the most cost-effective methods. It is also personalized which obviously helps. According to Statistia, in 2020 there were 4 billion e-mail users globally. Your avenue for e-mail marketing is limitless. The question here is about, how to use this powerful tool affectively.
Billions of e-mails are sent on a daily basis. While many companies understand this marketing strategy as spamming people with sales pitches, it’s not limited to that. Your insurance brokerage can strategize how to make your e-mail campaign according to what you are trying to sell. Try using tools from sites such as Campaign Monitor.
Our advice here would be to make several e-mails that follow a script. Have thorough plan on how to reach your potential leads and converting them. You can even have them automated for a certain amount of time and add small values to some of the e-mails that you send out.
Cross Platform Advertising for Your Insurance Brokerage
Cross platform advertising basically refers to running the same or similar ads through various social media and other online platforms. While running similar ads throughout every social media domain may sound redundant, it uses a very basic sales trick here. The more you expose a person to the same information, the more likely they are to buy the product from you.
Different social media platforms have different demographics on them. A good way to reach a diverse range of people is via cross platform advertising. As an insurance brokerage, you aren’t required to select a specific range of target audience so this marketing strategy is perfect for you.
SEM and SEO
SEM refers to Search Engine Marketing and SEO refers to Search Engine Optimization. Both of these tools are excellent options for lead generation for an insurance brokerage. However, these tools can only be used once you have a functional website which is ready to funnel the visitors.
The main difference between SEM and SEO is the cost. SEM is mostly a paid lead generating tool while SEO is mostly free. SEM allows you to run ads which is a traditional but affective marketing tool while SEO allows you optimize your website in a way that organically attracts the greatest number of visitors.
Depending on your marketing budget, you can option for one of the two strategies and diversify your client base.
Client Relationships Are the Most Important for An Insurance Brokerage
Client relationship is extremely important for every business. Forbes says that companies that focus on their customer experience as 60% more profitable than other companies. Insurance brokerage is inherently client-centric so maintaining client relationships is a basic necessity for you.
You can improve your relationships with clients by using innovative appreciation ideas for your insurance buyers. Another great way here can be sending insurance thank you note to your customers who make new contracts/deals with you.
Marketing for insurance brokerages can be made simple and easy if you remember the one thing we have been emphasizing throughout the article – that is, be client-centric. Insurance brokerage is supposed to work for the benefit for the clients. Try partnering with as many carriers as you can. This will be beneficial for you in the long run. To connect with 80+ insurance carriers, comment down below and we can help!
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