We have discussed the importance of internal marketing at your agency. Once you have a grasp on internal marketing, it’s time to address your agency’s external marketing.
External marketing is attracting prospects from outside of your current client base. If you use a proper external marketing strategy, it does not have to be scary, complicated or expensive. When done correctly, you will be able to drive your ideal clients through your door.
Here are the external marketing tactics that work for me:
Expiration dates on expiring policies are a red flag for new business. To acquire expiration dates, you will want to purchase or create a pre-qualified list of potential clients. There are a number of companies that have lists available for you to purchase. Once you have acquired a list, you simply have to gather information about renewal dates for various lines of insurance.
It is also important to make sure that you are creating a list of expiration dates from your current clients. Look at your existing client base and find out which policies they do not hold with you. After you have discovered those policies, try to find out when they are up for renewal.
Launch a Referral Reward Program
A referral reward program is an excellent way to turn your current clients into an army of potential sales people. It is also a nice way to say thank you to a client whenever they send someone new your way. The gesture could be anything from a thank you card, a gift certificate for food, or even a cup of coffee.
The size of the gesture is not as important as what it says about you. What is important is that it demonstrates to the client that you value their relationship. It also illustrates the kind of professionalism you bring to your business each day.
Try brainstorming ideas with your staff about what you could provide to your clients when they refer new prospects. Try to create the type of rewards that you would appreciate receiving.
Work with Mortgage Companies and Realtors
Developing relationships with realtors and mortgage companies in your area is always a solid strategy. When people are moving into a new neighborhood, they are not just shopping for new wallpaper and carpet, but are also looking for insurance.
Mortgage companies and realtors have a vested interest in knowing who is moving in and out of town. By developing a relationship with them and consistently touching base, you can work toward a cooperative relationship that leads to referrals.
There is not one specific marketing tactic that will make your company successful. It is a combination of internal and external marketing that will keep new clients coming through your door and prevent current ones from leaving.
If you would like to learn more about external marketing tactics, my book, Power Position Your Agency, goes into greater detail about different marketing strategies your company can utilize.