There are many sales strategies available to an insurance agency, including direct mail, telemarketing, and Internet Marketing. In fact, the Internet has revolutionized the way in which we market and sell - including those in the insurance industry. With so many different insurance marketing strategies available, all designed to grow a business and increase profitability, an independent agent can begin to broaden his reach, increase the leads in his sales pipeline, and generate more money.
One strategy would be to have multiple, different sources of insurance revenue and lead generation instead of relying on just one. For example, let's say the primary method for generating new business is through direct mail. If, for whatever reason, those postcards, fliers, or other forms of contact stop working how will that impact the business? It's important to have an integrated strategy that combines all that is available today.
Consider other options like generating leads through the Internet with a website that is optimized for search and has a prominent call to action, space advertising, referrals, word of mouth, and joint ventures to name a few. Adding this diversification to a portfolio is good money management. Test other methods of marketing so that if one or more stops working, it won't slow down the entire business.
Consistency is key
Doing SEO for a short period of time, or just sending one mailing, running one ad, or doing just one joint venture will not likely create the desired results. Marketing doesn't work like that. Create an entire marketing plan and a marketing budget for six months, or a year, and stick to it. By creating momentum through structured efforts, sales and profits will start to roll in.
When any marketing methods stops working, go in another direction, change the approach - don't just give up on your SEO efforts, or telemarketing, direct mail or advertising entirely. Do testing: for example, on a website, conduct A/B testing whereby the website features one type of call to action for a period of time, and then is changed to another offer, to see what works best. With a direct mailer, whether on- or off-line, do a series of letters to see what approach is more effective. The key is to be consistent and continually communicate with your targeted audience.
Sequenced mailings
In a famous marketing study done several years ago it was determined that over 70% of all people who respond to an advertisement will ultimately buy the product or service being offered. However, many of those people purchase the product or service from someone other than the original advertiser. This is because people buy when they are ready to buy.
Someone interested in a particular product or service, while wanting it, may not be immediately considering a purchase. This means that, at some point in time they will be ready to buy, and the company that gets the sale will be the one who stayed in front of them until they did become ready to buy. The important message here is to send a second, and even a final notice, as well as postcards or email letters to follow-up on leads. Doing so may result in the business getting some guaranteed sales.
Monthly newsletters
It's far easier to re-sell an existing client than to sell to someone who doesn't know and trust the company, and mailing a monthly electronic or printed newsletter can do this. Make sure to also enclose inserts about other products and services that are offered when doing a mailing. Remember, a good salesperson must re-market to their clients the same way they got them in the first place.
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