Marketing Tips for Advertising Your Insurance Agency
Which mediums are best for you? Marketing your insurance agency can be a complicated and costly process that requires a lot of coordination. You will see more companies looking for ways to improve their brand in today’s competitive market. You’ve heard the saying “You have to spend money in order to make money.” Don’t let this happen to you. We will show you how to choose the right advertising medium for your business. Before we show you how to market your insurance agency, it is important to consider your budget. You should know that advertising comes with a cost. Your Target Market: What insurance vehicles do you offer? Are you offering homeowners insurance, auto insurance, health insurance, or life insurance? How old is your target market? To whom are you offering insurance? These are just a few of the questions you should ask before you open your wallet. Here are some marketing tips to help your insurance agency stand out.
1. Advertising in block line in trade journals or industry publications: Many businesses like to advertise in the same area, so be there. Insurance companies are always on the lookout for new agents to join their ranks, so they know that these periodicals and journals are a good place to start. You will most likely need to hire or consult an outside agency to help you create a campaign that suits your agency and the products you sell. Costs will vary depending on what type of ad you are creating. Reverse type is a great way to get noticed in your ads. This would mean that you would use a black background and white writing to give your ad more personality. If you have the budget and desire to make your ad in color then that is also possible. Block line advertising is usually very affordable and you can customize the ad to your liking.
2. Advertising a business opportunity: Think about local newspapers like the Wall Street Journal, New York Times and Chicago Tribune. Advertising and marketing your agency is very easy with this method. Your company must have a strong brand. Over 4.5 million people visit the Wall Street Journal’s online version. That’s quite a large audience.
3. Television ads: TV advertising is one of the most expensive and obvious forms of advertising. Television is the most popular form of advertising in America. There are many statistics to prove this. A 30-second commercial costs on average $350,000. Local TV spots are often cheaper, so make sure to shop around.
4. Local Movie Theatres An ideal way to market your insurance company is to have a local audience and create a family atmosphere. While you and your family enjoy the movie, there are many types of insurance that can be used. Think insure your life, insure your auto, insure your health, etc. These things are more important when parents go out with their children. This audience will be most interested in your ad. These ads are often displayed while you wait for the movie to start. Because people see your name everywhere, the ads that you see are very effective. Hollywood received over 1.44 billion admissions in 2007.
5. Direct mail advertising: There is a lot of companies that can send direct mail pieces to your area. Depending on which company you choose, a 10,000-piece mailing to your target audience can cost between $3,000 and $10,000.
6. Outdoor advertising:Transit system, bus benches and neon signs are all great ways for agents to advertise. This is much more affordable than television advertising. This is because most insurance companies offer local services.
7. Stationary Advertising: A great way to advertise is through business stationary and supplies. It is a great way to show good faith by giving your customers a pen with your contact information and office name. Magnet advertising is another way to generate repeat business. Magnet advertising can be stuck to your fridge. This is especially important when you have family gatherings. No matter what situation, you need to be there. You will get a fraction of what stationary and supplies cost compared to the prices you’ll pay later on from potential customers. You might also be interested in coffee cups, calendars and golf balls.
8. Website advertising: It is a fact that if your business does not have a website, you should get one as soon as possible. A website is a way to tell customers about yourself and makes it easy for them to find quotes for any type of insurance. This includes homeowners insurance, auto insurance, and life insurance. A one-page website can be created quickly by simply entering your contact information, and perhaps a brief story about you or your community. You can hire a professional to create more pages, but for now, if you don’t have one, create one. It doesn’t matter if it is written on paper.
10. Online advertising: Companies provide zip code exclusivity and lead rights, such as InsureMyHouse or InsureMyLife. This gives you unique exposure online. For their site visitors, they offer a directory of local insurance agents. It is becoming increasingly important to advertise on the internet as more people use the internet to search for insurance. 75 percent of households have internet access. This is an affordable way to get exposure at both the local and national level.
Start A Game Plan Once you have seen the benefits of each medium, stick to what works. Keep within your budget and choose the best approach. It will take some trial and error to find the right approach for you, but it will make a difference in building your agency.
