4 Ways To Improve Your Agency Marketing Strategy

Insurance agents are known for being behind the times when it comes to digital marketing. In the past we’ve relied mostly on carriers do the heavy lifting, leaving little room to communicate their own unique personality with prospects. In this highly-competitive industry, agencies want to invest in a distinct marketing strategy to stand out and resonate with their target markets.

 

Build a strong brand around your agency

 

Before you do anything, you need to a way to represent yourself in the market. This is what we call “branding”. Yes, you have a logo and a tagline, but what does your brand actually stand for?

 

According to consumer psychologist Peter Noel Murray, people evaluate brands based on emotions instead of facts and information. Your identity is your relationship to your customers, how they emotionally connect with your company. Everything you create going forward – website, colors, logo, etc. – needs to be a reflection of this identity.

 

Ask yourself, “what will we be known for?”

 

All too often, companies dive into the logo and tagline without defining their core values. This  punches holes in their market strategy when they have the dollars to make that push. Only to turnaround and backtrack to develop their identity later on, which wastes time and even more money.

 

This process doesn’t necessarily end either. Your brand will evolve as your agency does and you will make adjustments based on customer feedback and data.

 

A few questions to ask yourself when you want to develop brand identity:

 

  • What are your agency goals?
  • How will your agency make an impact?
  • What do you stand for?
  • Where do your see your company going?
  • Why do you sell insurance?
  • How do you want people to talk about your agency?

 

Develop data driven buyer personas

 

The buyer persona is a digital representation of your ideal targets. These are crucial because they help tailor marketing collateral to the right people. If you don’t create materials for a specific group, your efforts will garner less engagement and drive less traffic to your site.

 

Use your own agency data to get an idea of who your targets actually are now. These are you best clients and to who your agency appeals most. This is who you want to attract for a successful marketing strategy.

 

Here’s a free buyer persona template from Hubspot that will help identify your ideal targets.

 

Make a line item in your budget for retargeting

 

Love at first sight does not exist in digital marketing for most products. Research varies on how many times someone interacts with your brand before they take the first step down your funnel. Some say 3, some say 7, others have said 20, which sounds crazy. However, the takeaway is that odds are, your browsers are not buyers first time around.

 

Retargeting is a type of advertising that follows your audience after they leave your site. This is done through a backend code that cookies a visitor and retargeted ads as they browse the web, social media, when they “google” something, etc.

 

These ads are only seen by people who show interest in your agency. You can retarget them to schedule an appointment, direct to a webinar, or simply reach out for a quick quote.  

 

Retargeted ads are more likely to convert by 70% compared to traditional display ads. This is only one of the expert tips you need to grow your agency.

 

Invest in and track your email marketing efforts

 

The e-mail campaign is an expert marketing tool to grow your agency with that is underutilized by independent agencies. Successful campaigns can turn cold leads into warm leads and more importantly, retain the policyholders you already have. Renewals are where your agency will make most of it’s revenue. It’s important to nurture what you have as well as your leads.

 

E-mail providers offer insights based on open rates, click-through rates, and more depending on what program you use. This valuable information will help you decide what resonates with your audience and what did not, so you can improve your strategy in the future.

 

You can write an entire book on e-mail campaigns, which no one has time for. So here’s a few ideas on how to craft a successful e-mail to your audience:

 

  • Offer tips on how to improve safety measures around the home
  • Provide seasonal insights. i.e, what you need to know about upcoming hurricane season.
  • Implement a referral contest
  • Distribute info about local events and news.
  • Be consistent. Don’t fall off the map.

Read more expert tips on how to grow insurance agency.

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