Marketing is vital for any business but significant for insurance companies. The insurance industry is very competitive, and insurers need to find ways to stand out from the crowd. Creative marketing can help insurers reach new customers and keep existing ones happy.
This post will discuss insurance marketing, its importance and how it works. And with so many marketing options out there, it can be tough to know where to start. We put together this list of 9 good marketing ideas for insurance agents.
- What Is Insurance Marketing?
- Why Is Marketing Important for Insurance Agents?
- How Does Insurance Marketing Work?
- 9 Creative Marketing ideas that insurance agents should consider
What Is Insurance Marketing?
Insurance marketing is the process of creating and delivering messages that promote insurance products and services. It can involve various activities, including advertising, public relations, events, and direct marketing.
Insurance marketing aims to generate insurance leads and sales by raising awareness of the benefits of insurance products and services. Target insurance marketing must be strategic and well-executed to be effective.
Insurance agents must have a thorough understanding of the insurance products they are promoting and the needs and want of their target customers. They must also communicate effectively the benefits of the products and services they sell.
Why Is Marketing Important for Insurance Agents?
There are reasons why marketing is essential for insurance agents. First, insurance is a highly competitive industry, and agents need to find ways to stand out from the crowd. Marketing can help them do this by creating brand awareness and generating leads.
Second, insurance is a complex product, and potential customers often need help understanding their options. Marketing can educate prospects about the different types of coverage available and how to choose the right policy for their needs.
Finally, insurance is a long-term purchase, and customers often need to be reminded about the importance of maintaining their coverage. Marketing can help keep agents in mind so that when customers are ready to renew or make a claim, they know who to call.
The US Bureau of Labor Statistics reports that an insurance agent made $50,940 per year on average in 2019. The lowest 10% in the industry earned more like $28,000, and the highest 10% earned over $125,000 - Source
- Agencies investing less than 5% in marketing are three times more likely to see flat revenue growth than those who invest 6% or more (Velocify)
- Insurance companies spending more than 15% of revenue on marketing see up to a 20% increase in revenue (Velocify)
Below is a success story of an insurance agent investing in marketing.
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How Does Insurance Marketing Work?
Insurance marketing typically involves creating awareness of an insurance agency/agent or product and convincing potential customers to purchase a policy. Insurance companies may use a variety of marketing tactics to reach their target audience, including advertising, public relations, and direct marketing.
One important aspect of insurance marketing is making the target audience aware of the company or product. Agencies and agents may use a variety of marketing tactics to reach their target audience, including advertising, public relations, and direct marketing.
Advertising typically creates awareness of an insurance company or product. Insurance companies may use various types of advertising, including television commercials, radio ads, print ads, and online ads.
Public relations is another important aspect of insurance marketing. It can create positive media coverage of an insurance company or product. Insurance agencies may use public relations to promote their brand, build customer relationships, and generate positive media coverage.
Public relations are different in scale in terms of the size of the company. Large insurance companies can afford PR campaigns that are targeted on media outlets that operate on a national level. Smaller agencies and independent agents can contact local media outlets and offer their expert commentary on developing stories or seasonal stories such as the Open Enrollment period or natural disasters.
Direct marketing is another common type of insurance marketing. Direct marketing involves sending marketing materials directly to potential customers. Insurance companies may use direct marketing to promote their products and services, build customer relationships, and generate sales.
9 Creative Marketing ideas that insurance agents should consider
There is no one-size-fits-all solution to insurance marketing, but some tried, and basic ideas can help you engage with your target audience. By understanding your customer’s needs and pain points, you can create a marketing strategy that resonates with them and drives results.
Some great insurance marketing ideas include:
- Goal Setting
- Improve Your SEO Marketing Strategy & Learn SEO
- Leverage Content Marketing
- Video Marketing
- Provide “Out of the Box” Promotional Gift
- Pay-per-click (PPC) Advertising
- Pizza Box & Flyer Advertising
- Direct Mail Marketing or Postcards
- Use Your Social Media Platforms
1. Goal Setting
In insurance marketing, goal setting is essential to success. By setting specific, achievable goals, agents can stay on track and measure their progress.
Additionally, goal setting can help agents identify areas where they need to focus their energies and resources. By setting goals, insurance agents can improve their marketing strategies and produce better results.
There are things to keep in mind when setting goals for your insurance marketing campaign:
- Set Realistic goals. Setting achievable goals is essential; otherwise, you’ll only be setting yourself up for disappointment.
- Set Specific goals. Vague goals are challenging to measure and even more difficult to achieve. Be as straightforward as possible when setting your goals.
- Set Measurable goals. To gauge the success of your insurance marketing campaign, you need to set goals that you can quantify.
- Set Time-bound goals. Give a deadline for achieving the goals that will help you stay on track and motivated.
2. Improve Your SEO Marketing Strategy & Learn SEO
Learning and improving your SEO marketing strategy is essential to being a successful insurance agent. It can help insurance agents in several ways. For one, its marketing campaigns can help reach a wider audience.
Additionally, it can help them improve their organic search rankings, making it easier for potential customers to find them online. Also, by keeping up-to-date with the latest SEO techniques and trends, insurance agents can ensure that their campaigns are as effective as possible.
There are several different ways to learn and improve your SEO marketing strategy. One way is to take an online course or class. There are many reputable providers of such courses, and they can provide you with the knowledge and skills you need to be successful.
Another way to learn and improve your SEO marketing strategy is to read articles and books on the subject. It can be an excellent way to understand how SEO works and what techniques are most effective.
Lastly, you can also attend conferences and seminars on SEO marketing. These can be a great way to network with other insurance agents and learn from the best in the business.
3. Leverage Content Marketing
Content marketing is a highly effective way for insurance agents to reach their target audience. By creating and distributing informative and engaging content, agents can connect with potential customers and build trust and credibility.
One of the essential things insurance agents can do is provide value to their audience. Content marketing allows you to create helpful and informative content that your audience will appreciate. Not only will it help you build trust and credibility, but it will also help you attract new customers and grow your business.
There are ways to leverage content marketing to help insurance agents in their marketing efforts. One way is to create blog posts or articles that provide helpful information about the industry or specific insurance products. You can also create infographics, video content, or even e-books that provide valuable information to your audience.
Another way to use content marketing is to create social media posts that share your content with your followers. It is a great way to build relationships with potential customers and to get your name out there. You can also use content marketing to drive traffic to your website or blog, which can help you generate leads and sales.
4. Video Marketing
Video marketing is an excellent way for insurance agents to reach their target market. Through video, agents can provide potential customers with information about their products and services and answer any questions they may have. Additionally, video allows agents to connect with their audience on a personal level, which can help build trust and rapport.
Many insurance agents are already using video marketing to great success. Video marketing is effective for insurance agents because it allows them to connect personally with their audience. People can see and hear the insurance agent speaking directly to them while watching a video. This personal connection can be compelling and help insurance agents build trust with potential customers.
Video marketing also allows insurance agents to provide potential customers with a great deal of information in a short amount of time. Insurance agents can introduce themselves, explain what they do, and provide information about their products and services through video. Additionally, video is an excellent way for insurance agents to answer potential customers’ questions.
Agents can use professionally done videos that are used on a mass scale or they can record the screen and webcam for a more authentic and personal approach that can be tailored for each individual.
Ultimately, video marketing is an excellent tool for insurance agents to use to grow their businesses. It can help create awareness, build trust, and provide a great deal of information in a short amount of time. Video marketing is worth considering if you are an insurance agent looking to grow your business.
5. Provide “Out of the Box” Promotional Gift
Insurance agents often face competition when trying to market their services. As such, they must find ways to stand out from the rest and attract potential customers by providing promotional gifts that are “out of the box.”
For example, rather than giving away the usual pens and notepads, an insurance agent could give away a promotional gift that is unique and useful, such as an insurance-themed coffee mug or a keychain with the company logo. This way, when potential customers see the agent’s promotional gifts, they will be more likely to remember the agent and the services they offer.
Providing “out of the box” promotional gifts is an excellent way for insurance agents to make their mark on the industry and attract potential customers. By thinking outside the traditional marketing methods, agents can set themselves apart from the competition and better serve their target market.
6. Pay-per-click (PPC) Advertising
PPC advertising effectively enables insurance agents to reach their target market. By targeting specific keywords, agents can ensure that potential customers who are searching for the types of products they offer can see their ads.
You can customize PPC ads to target specific demographics, interests, and locations. It allows agents to create highly relevant ads for their target market, resulting in higher click-through rates and conversions.
Overall, PPC advertising enables insurance agents to reach their target market and increase leads and sales.
7. Pizza Box & Flyer Advertising
Pizza box and flyer advertising is an effective way for insurance agents to reach their target market. By placing your ads in these high-traffic areas, you will be able to increase your brand awareness and significantly improve your marketing efforts. Not only will this type of advertising help you reach more potential customers, but it will also be a marketing budget saver.
8. Direct Mail Marketing or Postcards
Direct mail marketing involves sending physical letters or postcards to potential customers. Direct mail marketing aims to generate leads or sales from potential customers who live in a particular area.
Postcards are direct mail marketing sent to potential customers who live in a particular area to generate leads or sales.
9. Use Your Social Media Platforms
Social media platforms are websites and apps that allow users to create and share content or engage in social interactions. Insurance agents can use social media platforms to connect with potential and current customers, share information about insurance products and services, answer customer questions, and more.
Social media marketing for agents can be a powerful tool that can help you reach a larger audience, connect with current and potential customers, and build relationships. In addition, social media can help you create a more positive brand image and reputation.
Ways on How to Use Social Media for Insurance Marketing
In today’s digital age, social media is a powerful tool that you can use to reach a broad audience with your marketing message. Here are ways you can use social media for insurance marketing:
- Use social media to create and share engaging content
Content is king. By creating and sharing interesting, informative, and visually appealing content, you can capture the attention of your target audience and get them interested in what you offer.
- Use social media to drive traffic to your website
Use compelling calls to action and links in your posts to encourage your social media followers to visit your website. It drives traffic to your website.
- Use social media to generate leads.
Provide valuable information and offer free resources that can entice potential customers to provide their contact information to follow up with them about your products and services.
- Use social media to build relationships.
Relationship building is integral to insurance marketing, and social media is an excellent platform for connecting with potential and current customers. By engaging with your audience and providing excellent customer service, you can build trust and credibility that will help grow your business.
- Use social media to stay top of mind.
It’s essential to ensure your insurance agency stays top of mind with your target audience. By posting regularly and sharing relevant information, you can ensure that your agency is the first one potential customers think of when they’re ready to purchase insurance.
Being an insurance agent, you should know how marketing is significant to your success. You must thoroughly understand the insurance products you are promoting and the needs and wants of your target customers.
Marketing can help you create brand awareness and generate leads, educate prospects about the insurance, and keep agents in mind so that when customers are ready to renew or claim, they know who to call.
Insurance marketing aims to generate leads and sales by raising awareness of the benefits of insurance products and services. There are also excellent insurance marketing ideas, including goal setting, learning and improving your SEO marketing strategy, leverage content marketing, video marketing, providing “Out of the Box” promotional gifts, Pay-per-Click (PPC) advertising, Pizza Box and Flyer advertising, direct mail marketing or postcards, and using social media platforms.
About the author
Kevin is the CEO, Founder of Aemorph. A seasoned entrepreneur and digital marketing expert. Kevin started in digital marketing, specialising in Search Engine Optimisation after leaving a career in banking and finance. He now has 12+ years helping businesses in the F&B, finance, insurance, e-commerce, medical, b2b and SaaS industries.
Kevin is also a certified adult educator with the WSQ Advanced Certificate in Learning and Performance (ACLP) awarded by the Institute of Adult Learning (IAL) in Singapore, delivering high-quality, relevant and easy-to-implement training to ensure learners can get immediate results and build upon their knowledge.