Marketing means communicating the value of your services to your potential client base. You can have the best high-performing team and the most skilled Agency Contact Representative, but without proper marketing no one will ever know they exist.
It is essential that you incorporate fundamental marketing techniques into your agency or you will end up losing prospects to your competition. But with the right approach, marketing your agency does not have to be a daunting task.
We have developed a powerful, two-pronged marketing method that we use at my agency. This approach consists of both internal and external marketing. Each has its own strategy, but together they make up a powerful plan that can help increase your agency’s sales.
Our internal marketing strategy consists of targeting current clients and expanding the types of insurance coverage that we provide to them. It offers a great advantage for agents with an established client base, and ultimately leads to an increase in retention.
It is easier to sell to and service 1,000 clients with four policies per household than to sell to and service 4,000 clients with one policy in each household. It’s the same commission. However, a lot more work with one policy in each household.
To implement an internal marketing strategy at your agency, use these 3 tactics:
Conduct Annual Reviews
Schedule an annual conference with your clients to review their insurance coverage. It is critical to address any gaps in coverage during the annual review and to make recommendations that can fix these gaps. Annual reviews are critical to the success of any agency.
Market Additional Lines of Insurance
One of the greatest things about an existing client base is that it is easily expandable. Since your clients already view you as a hardworking professional in your industry, they are going to be more receptive to discussing additional lines of insurance. This makes them an excellent target for offering specific lines of coverage that fit their needs.
There are two approaches that I take when trying to sell additional insurance.
The first is that I aim to set up an appointment with each existing client to discuss an additional line of insurance.
The second is to provide the client with information on a line of insurance they do not already carry and then try to set up another appointment with them after they’ve reviewed it.
Neither approach happens automatically. It is imperative you have a fluid lead flow management database. You must be ready to go into each initiative with a clear, consistent and effective pitch in order to sell your client on the additional line of insurance.
Create Specific Projects
One of the best internal marketing tactics is having energetic brainstorming sessions with your team. During the session, you develop new ideas that can translate into income.
After you have brainstormed a few great ideas, you will want to make sure you develop a plan for turning the idea into a project that you and your staff can work on each week.
Constantly practicing these internal marketing techniques will help grow your agency. If you want to learn more about how to market your agency you can read about my external marketing techniques.