The captive insurance industry is highly competitive these days. A lot of captive insurance agents operate in the same city, competing against one another. So, running a captive insurance company can be hard. That’s why every insurance agency needs effective promotion strategies.
Captive insurance agents should do everything possible to stand out and differentiate themselves from their in-house competition. That means that insurance agents have to develop an effective marketing strategy that works. Today, we’ll provide the tips to help captive insurance agents get the most out of their marketing efforts.
So, let’s get started.
1. Develop a unique personal brand for yourself and your agency
It makes a lot of sense for a captive insurance company to focus on brand development. There are two ways to build brand for captive insurance agents. It’s worth noting that each agent can contribute greatly to a brand development strategy of a captive insurance company. That’s why it’s so important to develop brands for a captive insurance company as well as brands for each of its agents. Once captive insurance agents have a popular brand, they can market their services easily and successfully.
2. Bring out your personality on social media
And of course, captive insurance agents shouldn’t forget about social media marketing. It’s no surprise that Facebook, Instagram, LinkedIn and other popular social media platforms have a huge marketing potential. Social media has to be a part of a captive insurance company. Captive insurance agents should use the power of social media to bring personality and attract the target audience to their business.
3. Highlight your involvement in the community
Captive insurance agents need to involve the community. People should clearly see how captive insurance agents can help the community and solve their problems. Captive insurance agents have a huge marketing success if people see that captive insurance agents are involved in the community and, most importantly, bring value to the community. In this case, the community will help captive insurance agents develop their business. That means that the success of captive insurance agents is inevitable.
4. Become “the expert” in a high value subject of importance to your prospects
It’s crucial for insurance agents to be well aware of client’s problems. But most importantly, captive insurance agents should be able to show their clients that they can solve their problems in the best possible way.
What problems do your customers have? How to solve the client’s problems? Which solutions can captive insurance agents can offer? Insurance agents should get the answers to such questions as soon as possible.
It goes without saying that captive insurance agents have to position themselves as industry experts. This helps captive insurance agents get a lot of attention and market their services and brands effectively.
5. Determine your unique selling proposition
Captive insurance agents have a huge success when they offer insurance service packages that other agents don’t offer. That means that a captive insurance company has to develop a unique selling proposition. There is no doubt that clients will not be able to refuse from such a proposition.
The big question is – how you and other agents of your company can make a difference? Captive insurance agents have to analyze the market carefully and try to find out what strong and weak sides they have and what strong and weak sides their competitors have. It’s necessary to focus on things that make its captive insurance company and its agents strong.
By doing so, you’ll manage to come up with the unique, innovative and creative ideas and then implement them into your marketing strategy. But most importantly, your captive insurance company will have a unique selling proposition that’s crucial for your success.
6. Give shout outs to local teams, events and items of interest
A captive insurance company should do every single thing possible to market their services. For example, captive insurance agents should give shout outs to local teams. By doing so, they can promote their services and brands locally. Or, maybe, captive insurance agents should try to organize interesting events. It’s worth noting that interesting events bring people together. Events make it possible for captive insurance agents to attract the target audience to their company and get a lot of attention to their brand. And of course, all of this plays a very important role in captive insurance company’s success.
7. Focus on delivering world class service and results
First and foremost, captive insurance agents should promote their services successfully. However, promotion works well for a captive insurance company only if its agents provide world class service and deliver excellent results.
Let’s take a closer look at the process. Initially, a captive insurance company aims to attract a new prospect. After that, captive insurance agents try to turn prospects into paying customers. However, turning prospects into customers is only half the battle. The most important task is to make customers happy.
Without a doubt, happy customers contribute greatly to the success of a captive insurance company. It’s important to know that happy customers can do a great marketing job for insurance agents in the future.
Happy customers will leave positive reviews about your captive insurance company and recommend its agents to others. All of this will help you market your business.
It’s hard to find a person, who doesn’t use insurance services. Happy customers will refer new customers to your captive insurance company and contribute greatly to its success.
The more new customers you can attract to your business – the better. As a result, happy customers will help you grow captive insurance company’s client base over time.
People tend to check customer reviews and the online reputation of insurance agents prior to hiring. Positive customer reviews make it possible for captive insurance agents to build a good reputation for your brand on the market. Obviously, agents should avoid getting negative customer reviews.
Are you looking for marketing professionals who can help captive insurance agents to stand out from the crowd? Contact us today to get a FREE service quote!