The insurance industry is a highly competitive market, and as such, agents must make marketing their top priority in order to grow their business and beat out competition. Not only are agents competing against one another, they are also battling big agencies for business opportunities. For that reason, it is critical that insurance agents develop, and implement, a unique marketing strategy to set themselves apart from their competition.
In an Independent Agents Magazine article, “Why Your Insurance Marketing Campaign Isn’t Working,” author Robyn Sharp explains that agents must go beyond their initial efforts to get their name out to potential clients. They must invest the time and resources in developing an effective marketing campaign that sets them up for successful new business acquisitions.
In her article, Sharp outlines three straightforward marketing strategies that can help an agent better market themselves and their company:
- Targeting: In thinking about the best approach to a unique marketing campaign, it is important to start with whom you want to attract as customers. By targeting the correct segment of people, there is a higher chance of increasing the overall response and can save money in the long run on the campaign efforts. Before sending out any marketing materials, narrowing the list should be a priority.
- Multifaceted Approach: Once the targeted group has been identified, the next step is to design a message and distribute it through multiple outlets. It is important to understand that not everyone will get the marketing message through a singular resource, which is why it is critical to design a marketing campaign that gets the word out in a variety of ways. In addition, distributing one marketing tool is a good start, but incorporating a follow-up in another format is another way to reiterate the original message and keep your name top-of-mind for potential clients.
- Consistency: It is important for a marketing campaign to be consistent over time. This means taking a message and sharing it continuously over the life of the campaign. Putting forth one marketing piece (one letter or one email) is not enough. Agents must come up with a long-term strategy that will reach clients and potential customers over the course of several weeks and through various methods.
Developing a creative and effective marketing strategy has become increasingly important in the insurance industry. It requires planning, action, testing and consistency. But, when the time and resources are invested, the payoff can be significant.
To learn more about the how to improve your marketing campaign and become a leader in a highly competitive and growing industry, visit http://www.iamagazine.com/strategies/read/2014/12/19/why-your-insurance-marketing-campaign-isn-t-working.
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