Marketing yourself as a life insurance agent can be tough, especially if you are independent. The cost of advertising and the time spent on other activities can add up quickly, but they are well worth it in the long run. If you can find unique ways to reach out to potential clients, be it in the community or online, you will reap the benefits after a while. Creating a plan and sticking to it is the best way to make more sales and obtain more clients.
Here are 15 different ways to market your life insurance business
1) Spend on Advertising
While it’s not very unique and different, insurance advertising still works. Today, there are endless options for advertising your business, from tv and radio ads to newspaper and magazine ads, to website and social media ads. Adding a car wrap to the company car or your personal vehicle provides a way to easily advertise your business wherever you go. A few signs around the property of your office can be worth the investment as a form of advertising, too.
2) Use Social Media
Similar to traditional advertising, you can utilize social media as a way to connect with potential clients. Most sites have an advertising option, but all social media websites provide ways to share text, images, and video with followers. This allows your business to stay in front of the eyes of a wide range of possible customers.
3) Build an Email List
If anyone shows interest in your services, ask for their email so you can stay in touch. If you have a quote system on your website, be sure to ask visitors to provide an email address. Send a short message every few weeks, telling them about any new offers or discounts and news you might have to share. Building a list of people who are potentially interested in your service allows you to reach them directly and stay in the forefront of their mind.
4) Update your Website
Everyone is online these days, and everyone wants to work with companies that have a professional website. Be sure to maintain a current website that looks modern and comparable to others on the internet. Make sure to keep the content up to date, including contact information, services provided, special offers and even a blog with company news.
5) Join Networking Groups
Referral business is the best way to obtain new clients. Joining a networking group is a great way to connect with others in any field and potentially find new clients. Even if you don’t meet people who need life insurance right now, they may know someone who does. Never forget that anyone could become your next client if they just know what you have to offer.
6) Sell to Friends and Family
Some of the best connections and potential customers in your life are your own friends and family. Let them know about your work and what you have to offer. Just like networking, they may have a need for life insurance or may have connections to others who are shopping for life insurance.
7) Volunteer to be a Speaker
Many community organizations put on events throughout the year and may want a professional to give a speech on a topic related to the organization. This is a great opportunity for you to speak to a crowd of potential clients about what you do, how your industry works and what you have to offer. Some groups may also have funds to pay for your speaking services.
8) Host a Workshop or Seminar
Going one step beyond the speaker role, you can host a workshop or seminar on life insurance. Most community centers and venues will allow you to rent out a space for any length of time so you can host an event. Make the event as long or as short as you want. This is also an opportunity to have colleagues in other lines of business to come in and speak as well.
9) Partner with Other Local Businesses
Most financial services are interrelated and businesses can help each other by providing customer leads to one another. If someone is purchasing car insurance or health insurance, they may also be interested in life insurance as well. Offer other business owners to swap business cards and brochures to put in each other’s offices or offer to send referrals directly to each other’s businesses.
10) Buy Legitimate Leads
Many businesses in all industries will collect information from their customers and ask if they have interest in any other types of services. Customers can agree to receive information and offer from other businesses. You can buy access to these lists and reach out to these warm leads, which is much better than cold calling.
11) Reach out to Old Clients
You may have lost clients in the past, but they were customers at one point and they may be interested in your services again. Send an email or make a phone call to see if they are in the market for life insurance again. It’s always possible that they would be willing to come back.
12) Create a Referral Program
Customers enjoy referral opportunities. If you incentivize your customers to send you leads by providing lower rates or a special gift, they are much more likely to help you out. In addition, they are likely to send you relevant leads.
13) Study the data
Collect as much data as possible. See if you can figure out any correlations, such as customer demographics, upticks in customers after running a certain ad, or downticks in business after a certain change in your marketing. Figure out what worked in the past and do more of it.
14) Sponsor a community event
If you have the resources, become an event sponsor for a local event. Charity functions, sports tournaments, and local festivals are all great events that need funding. When you are a sponsor, you can put up ads for your business and sometimes even have a table where you can speak with potential customers directly.
15) Follow Up
The most important part of marketing is to follow up with any potential customers. Studies say that people need to be exposed to a company seven times before they will make a decision to buy. Stay in the forefront of potential clients’ minds and they are much more likely to make a purchase.
These are just a few ideas for marketing your life insurance business. See what works and see what doesn’t. Above all else, stick with your plans and be patient. Many companies do not spend the time and energy required to see results from their marketing strategies. If you stick with your plan long enough, you are much more likely to see results.