Insurance industry is highly competitive these days. A lot of insurance agents operate in each region. That’s the reason why marketing insurance agents is not always easy. Insurance companies should market their services effectively to attract new clients to their businesses.
Insurance agents face various challenges when marketing their services. Marketing a new insurance agency that has started its business recently is even more difficult. However, difficult doesn’t mean impossible. Keep in mind that things go a lot easier if you do marketing for insurance agents in the right way.
Today, we’ll talk you through 7 critical mistakes that insurance agents often make with marketing. And of course, these marketing mistakes should be avoided by insurance agents.
So, let’s get started.
Mistake 1: No Plan
No plan means that insurance agents have no marketing strategy. It’s difficult to market an insurance agency if you don’t know what to do and how to market insurance services.
The process of marketing insurance agents requires meticulous planning. It all begins with planning. So, the first step that insurance agents need to take is to develop an effective marketing strategy that works well for an insurance company.
When planning marketing strategies, insurance agents have to make many important decisions. They need to pick marketing techniques that work best for insurance agents and set the budgets for their marketing strategies. After that, insurance agents have to stick to their marketing plans.
Unfortunately, things don’t always go as planned. That’s why insurance agents should always track the success of their marketing campaigns. Insurance agents must be prepared to make changes to their marketing strategies when such a need arises.
Mistake 2: Treating Marketing as an Expense and not an Investment
Oftentimes, it’s possible to hear that insurance agents say that they have spent the certain amount of money on marketing their services. Insurance agents use the word “spend” when they talk about marketing. Actually, it’s not correct. It’s correct to say that insurance agents invest in marketing. Insurance agents should never treat marketing as an expense.
It’s necessary to consider marketing as an investment, but not spendings. In this case, you’ll have a desire to invest more money in marketing and get a higher return on investment.
It’s incredibly important to understand that marketing provides insurance agents with a high return on investment. Therefore, marketing contributes greatly to the success of an insurance business. It’s fair to say that the success of insurance agents depends a lot on marketing. That’s why insurance agents should never regret about investing in marketing.
Mistake 3: Trying to Do It All Themselves
One of the biggest mistakes that so many insurance agents make again and again is that they do marketing themselves. The reality is, being an experienced agent and a marketing professional can be hard. In fact, there are many reasons why insurance agents shouldn’t market their services on their own.
Marketing is no easy work that requires certain knowledge, experience as well as skills. It takes years to become a marketing professional. It’s also important to note that marketing experts should constantly get training and work hard to develop their marketing skills. If you are an agent, you should develop in insurance industry. That’s why it would be great to hire marketing professionals, who are the best in what they do.
Another important thing that insurance agents should be aware of is that marketing is a time-consuming process. That means that it can be difficult for insurance agents to run their own business and do marketing work.
Insurance agents have to spend a lot of time on marketing tasks and do marketing on a regular basis. In this case, insurance agents will have no time to work with their own customers. So, it would be great to hire professionals and get the marketing work done in the best possible way.
Mistake 4: Not Answering their Phones
When agents make huge efforts to market their insurance services and finally don’t answer phones, they just waste their time and money on marketing. Nobody wants to wait too much time! In this case, a potential client will go to your competitors and you’ll lose your earnings. As a result, the return on investment of your marketing strategy will be lower. That’s why agents should always answer their phones and do every single thing possible to turn their prospects into paying customers.
Mistake 5: Not Formal Follow Up Process
People often refuse to deal with insurance companies because agents don’t have formal follow up process. The lack of formal follow up process is a big problem for insurance agents. If clients clearly see what to expect from dealing with agents, they choose to order their insurance services.
Mistake 6: Relying on the Corporate Advertising to Do the Work
Another big problem is that many insurance agents put special focus on corporate advertising. However, marketing insurance agents is more than corporate advertising. There are many marketing methods that work well for insurance agents. As the saying goes, “insurance agents shouldn’t put all eggs in one basket”. So, it would be great for insurance agents to diversify their marketing strategies.
Mistake 7: Not Creating Unique Brand
As we have already said, the level of competition in insurance industry is high. That’s why insurance agents should market their services in a way that makes it possible for them to leave their competitors behind the scene.
It makes a lot of sense to focus on a brand development strategy. It goes without saying that creating unique brand has to be the number one priority in a marketing strategy of insurance agents.
If insurance agents manage to create a unique brand for their business, they can market their services successfully. Unique brands offer long-term marketing benefits. The truth is that unique brands are easy to remember. As a result, prospects will remember your brand easily. Later, they will contact insurance agents when it’s necessary in the future.
Do you need help with marketing? We have many years of experience in marketing insurance agents. Our professionals will develop a marketing strategy that works well for insurance agents. Contact us today to get a FREE service quote!