6 Marketing Strategies with High ROI
Marketing to grow a business is one of the most challenging aspects of being an insurance agent, and it can be especially difficult for those new to the industry. When you have a limited budget, but big dreams, finding a good way to prospect clients can seem overwhelming. Here are five free or low-cost marketing ideas that can really help your business excel and put your name on the map.
- Engage existing customers. The single most cost-effective strategy an agent can leverage is to cross-sell policies to an existing portfolio of happy customers. That means go through your book of business and evaluate who might be interested in additional policies and add-ons. If a client only has auto insurance, try to sell them life insurance too. If someone else has home or renters insurance, explain what different riders mean and their specific benefit.
- Engage in social media. Social media offers a golden opportunity to connect with current and potential customers. Even better, it’s free. The key is to actively posting news, advice and timely responses to users’ comments. It’s best to check your Facebook, Twitter and other social media accounts daily. You want to position yourself as a trustworthy expert, but this is an appropriate space to have some fun, too. In addition to serious discussions, try some light-hearted outreach such as holding a photo-caption contest or posting a joke.
- Be an expert for a local paper. Local papers always need relevant experts to interview when news occurs. Email the editor and let him know you are a member of the community and would be willing to offer your expertise whenever needed. You might even offer to write an article or op-ed piece. Your offer might not be taken immediately, but when something does happen, you’ll be the top-of-mind contact. Being a quoted expert in a news story can pull in lots of new customers.
Don't overlook local marketing and networking. It can really pay off!
- Host a free safety event. Hosting a seminar is a great way to get new customers interested in your services. Targeting new parents? Host a baby car seat event or life insurance class. Want to reach out to a senior audience? Run a defensive driving course or class that addresses the basics of Medicare. While you might not be a car seat or driving pro, virtually every community has an organization with experts on these topics. Invite the local police to lead the car seat talk or coordinate with AAA or AARP to organize the driving class. Take it one step further and record these events and post them on YouTube, Facebook, your website and any other online outreach.
- Create an email newsletter. As you gather contacts, create a monthly email newsletter that offers insight of value to your target demographics. Resist the urge to simply advertise - no one will read it and furthermore, they’ll opt out thinking it’s just spam. Create valuable copy that clients will want to read, digest and pass on to friends. This type of outreach is great for tips, advice and how-to content as well as your two-cents about current news that could affect insurance customers.
- Volunteer your time. Volunteering is not only good for the soul, it’s good for networking and growing a client base in the community, too. Not sure what to do? How about joining the school board, donating time at a food shelf, offering to help the elderly at a local nursing home or becoming a member on a nonprofit’s board of directors? You’ll feel good, make contacts, build a good reputation and have plenty to talk about on your website and other online avenues.