Today, the open market for independent insurance agencies to make an impact on their consumers is becoming more and more competitive. Small-town agencies must find innovative and efficient ways to reach the correct prospective audience. When most people think of new-age marketing, they think social media and being on trend with the current industry news.
While constant updates will keep your agency in front of your audience, every agency should think about the type of message they are portraying. Perhaps, it may be time for a re-brand? To effectively market to your consumers and bring in more new business sales, an independent agency should be listening to what the audience is saying and tailor their company to what the people want. Not only does this mean you are completely knowledgeable of your community, but also realizing that your agency may not be all things to all people.
This is where niche marketing becomes the most effective way to gain organic growth.
“It differentiates your agency, defines you as an expert, and is the most efficient marketing method to drive organic new business growth. Niche marketing allows you to develop a highly focused prospecting process that generates significantly higher hit ratios. Once you begin to establish yourself in a niche, you’ll get more and better quality referrals that will generate a consistent flow of new organic growth.” -John K. Tiene, CEO, Agency Network Exchange
By focusing on a specific niche and becoming an expert in that area, you are narrowing down your prospective market that will most likely lead to better, quality leads and service. Independent agencies need to do their research and explore what their community needs most. Invest the time to become knowledgeable in select areas of business and know that your agency has the outlets to provide all the areas of service in that field to your clients. Not only will they appreciate it more, but you are more likely to make a name for yourself.
To see all the sales, marketing and management ideas listed in Insurance Journal’s August issue, please click here.