Today’s insurance brokerage landscape is more competitive than ever, with new players emerging and trying to disrupt the industry. It’s no surprise then that brokers have to work harder than ever to retain existing clients and find new ones. The good news is that modern marketing strategies can make a big difference in driving growth and boosting revenue for your agency.
Here are four marketing strategies to help brokers win, enhance and retain client relationships:
- Build a killer brand
Brand positioning drives everything you do in marketing, so it’s vital to think about what makes your agency different, better and special for your clients and prospects. Successful brands spend a lot of time analyzing their client prospects—what do they really need, and more importantly, why should they care about your offerings? Listening closely to client needs also applies to content, the fuel that drives your brand marketing. More than ever before, clients and prospects are using content such as social media, blog posts, e-books, white papers and videos to educate themselves about your agency’s offerings and expertise. By producing free, high-quality content, you will become an invaluable resource for prospects, pulling them in to your agency’s offering and positioning yourself as a thought leader.
- Engagement is the “new black” in marketing
Gone are the days when marketing was focused on “ABC: Always Be Closing.” Modern marketing is built on the concept of “ABH: Always Be Helping.” It’s all about engaging prospects with content and ideas that will help them succeed. As your prospects become clients and engage with your services, it’s just as important to prove and continually enhance your value beyond insurance. Since the compliance and regulatory landscape always changes, there is a real opportunity for brokers to help clients navigate this environment by reaching out with relevant content and expert advice. This includes webinars, videos, white papers and e-newsletters. Finding opportunities to engage with your existing clients at least once a month will pay huge dividends. Even better, this level of engagement will turn your clients into advocates who actually will help to “sell” your agency brand to friends and colleagues.
- Generate your own “Glengarry” leads
Generating hot prospects requires making use of all the marketing tools now at your disposal. (Today it’s a lot more than being lucky enough to get the “Glengarry” leads that famously are only for closers!) For example, email marketing continues to be a powerful way to engage contacts and nurture client prospects. To manage your email marketing campaigns, you can take advantage of free or low-cost marketing automation/technology options, such as MailChimp. Another important part of lead generation (and modern marketing in general) is using and measuring data to understand whom you should be targeting, how they are responding and when to approach them with an actual sales pitch. It’s also important to measure the effectiveness of your website. Google Analytics, for example, is a free and effective tool that will help you understand what your prospects are reading on your website and ultimately, determine what they care about. Utilizing these data-driven marketing strategies and tools is at the core of modern marketing and essential to effectively targeting and connecting with potential leads.
- Be social, and sell social
With the right content and ongoing commitment, social media can be a great selling channel for your agency. Social media are most valuable when you use them as a distribution channel for the thought leadership you develop about your agency and yourself. In fact, social media are great platforms for promoting relevant, interesting articles, blog posts, videos and photos from your company or third-party sources. As you look to build your social media marketing strategy, make sure to explore other channels aside from the standard Facebook, LinkedIn and Twitter. YouTube is an effective platform for sharing educational videos, and blogs are a very important way to drive search engine optimization for your website and other content.
If you’re interested in learning more, check out our webinar about modern marketing strategies.
Good luck with your marketing and selling!