Excel at insurance marketing strategies and you’ll always have a steady flow of leads.
Fall into the common pitfalls of insurance broker marketing, and you may end up scratching your head, trying to figure out why your marketing plan isn’t attracting the clients you had anticipated.
As the insurance industry grows increasingly competitive and as consumers’ expectations become more sophisticated, brokers must step up their marketing game plan in order to reach the ultimate goal – becoming one of Australia’s top firms.
Polishing Your Marketing Plan
Ready to make your marketing plan work for you?
With the incredible potential for lead generation from digital marketing strategies, the sky is really the limit.
The key to making an impact is in avoiding the common mistakes that insurance marketers make, while also making an effort to constantly improve your strategies.
Here are the top pitfalls that you want to avoid slipping into.
1. Missing the target market.
Who are you targeting?
Have you created a buyer persona?
When you tailor your marketing strategies and develop your content, it is essential that you have a well-developed concept of your audience in mind.
For example, you can focus your marketing efforts on the populations that are more likely to be in the market for insurance products, such as people who have just undergone a major life change like marriage, buying a new home, or starting a family.
Without a target, you may be wasting your time, effort, and budget.
2. Underestimating the power of blogging.
Without an active blog, your insurance brokerage is missing out.
Blogging regularly can attract a regular influx of unique visitors to your site, giving you the insurance leads you need to help your agency grow. An engaging, informative blog will also help to establish you as one of the top insurance brokers in Australia.
To make the greatest impact with your blog, it is important to publish content regularly.
Almost half of successful Australian marketers commit to publishing every day, or at least several times per week. Fresh, updated, and varied content will keep your audience engaged while also helping your site rank well on SERPs, making it easier for potential customers to find your agency on the web.
3. Failing to solve problems for potential buyers.
When a visitor comes to your site, what are they looking for?
Solutions to their problems!
When a potential lead is browsing the web and decides to click on your site, it is
because they believe they will find something of value there.
They may be in the market for a comprehensive business insurance policy and want to learn what the features and benefits may be, or they may want to know what their options are when it comes to life insurance.
Get into the mindset of the buyer persona that you have created.
The best way to do this is to really understand who that persona is.
What are their needs?
Where are they in their life?
What would encourage them to purchase insurance from your agency?
This is one of the tricks of effective insurance marketing – taking the time to examine your target audience.
When you understand exactly who you are marketing towards, you will be able to create the effective strategies that will really reach out to potential customers and ideally cultivate long-term client relationships.
4. Not getting on the first page of search engine results.
Page rank should be a central goal to your digital marketing strategy.
Sites that fail to rank on the first page of Google or the other major search engines are
unlikely to be found through organic searches.
Well-thought out inbound marketing strategies, which include SEO, SEM, blogging, and social media, will help to boost your site’s page rank. It will take time and effort to rank well, so be patient – and diligent.
Once your insurance brokerage is on the first page, however, you will be in an excellent position to attract visitors to your site.
You can then convert them to leads with a well-formatted website that includes strong call-to-actions, contact forms, and landing pages.
5. Losing visitors to competitors.
Getting prospective customers to your site is only the first stage of an effective insurance brokerage marketing strategy.
Once you bring them to your site, don’t expect them to contact you for an enquiry right away. Most visitors are not at the buying stage quite yet.
This is where many insurance brokers fall flat.
They fail to engage and to provide enough value to visitors. They then lose leads to other insurance brokers who have established themselves as industry thought leaders.
Cater to visitors who are not ready to make a purchase, but who will be in the future. Give them the highly relevant information that they need and direct them to it.
For example, attract your target market with your inbound marketing strategies and then give them more with a link to download an eBook or sign up for an informative newsletter that will help them to learn more about the subject they are interested in.
6. Not measuring the effectiveness of an insurance marketing plan.
Do you know how much of a difference your marketing efforts are making?
If you are not measuring the impact of your insurance marketing plan, then you will not be able to make the necessary changes to improve your strategy and to create leads.
Pratibha Vuppuluri, founder of KeyInsite Inc., a New York-based data analytics company, recommends focusing on the number of unique visitors who come to your website.
Ask, are you bringing in enough unique visitors – and is this number growing?
This will help you to determine if your marketing strategy is getting your brokerage on the map.
If your marketing efforts are not producing enough unique visitors, then it may be time to go back and revise your plan, improve your content, and get more help from digital marketing professionals.
7. Assuming you don’t have to market.
You may have hired some of the best brokers in Australia and you yourself may have a dynamic background in the industry.
This doesn’t mean your agency will automatically grow the way you want it to. No matter how skilled, experienced, and knowledgeable your team is, referrals are only going to get you so far.
With increased competition and evolving customer expectations, you need to market and you need to market well in order to establish your broker as one of the best – and to remain on top.
8. Lacking specific goals.
What are the goals of your insurance marketing plan?
Of course you want to attract visitors, convert leads, and grow your agency. In order to market effectively, you need to have more specific, focused goals.
Without a clear idea of your expectations, it is difficult to actually reach your goals.
To excel at marketing, you need numbers.
How many unique visitors do you want next month, in three months?
How much do you expect your sales to increase?
Where do you want your business to be one year from now?
Be as clear as possible, and then keep track of your marketing efforts so you know how close – or far – you are from reaching your goals.
If you’re off the mark, you can simply adjust your plan.
9. Not creating a marketing budget.
Nothing in life is free – not even digital marketing!
Insurance brokers that fail to have an adequate budget for marketing end up operating at a disadvantage.
In order to remain competitive, marketing should be a consistent part of your agency’s operations. Don’t expect to do your marketing on your own.
The insurance industry is constantly evolving with new regulations and greater competition, which means brokers and owners have a lot on their plate already.
Brokers that set aside a reasonable marketing budget to benefit from professional services will have an advantage over the competition.
Procrastination is an easy pitfall to slip into.
After all – you have enough to worry about running a top-notch insurance agency.
Even the best marketing strategy will take time to take effect. You need to have an excellent insurance brokerage marketing strategy in place today.
You want to be one of the top brokers in Australia. Make marketing a priority.
Learn more and find out what you can do to enhance your marketing efforts and ensure that your agency remains competitive.
Get started with our free guide on “Insurance Broker's guide to website enhancement for serious lead generation”.