Insurance is a tough sell. (I know, I used to sell it). Insurance salespeople have two major issues working against them:
- People usually underestimate their need for it until it’s too late
- There is little perceived differentiation between insurance offerings
Since people don’t feel they need the product, and since the common person can’t tell you the difference between one insurance product and another, insurance companies need to rely on their marketing more than ever. An innovative product won’t get the attention or consideration it may deserve.
Geico uses a number of really fresh, memorable commercials. Progressive uses their famous online (ans seemingly “unbiased”) quote system. Allstate relies on the trustworthy confidence of Dennis Haysbert. All this is marketing because the product itself is not noticeably different (to the common consumer).
There are some broader business ideas that might help:
- Do something to set apart your insurance company or brokerage: Stay open late, make house calls, dress up in clown costumes, give out free massages to the massage parlor next door, specialize in motorcycle insurance and make sure everyone in the office looks like a biker.
- Forget the standard lines like “we offer great customer service” or “we give the personal touch” because chances are, you don’t really do anything different from anyone else. Set yourself apart.
There are some content-related ideas to help you sell:
- People only know how important insurance is when they realize how valuable it is when tied specifically to something in their lives. No one wants to go to a seminar about insurance, but you probably will get people to go do a seminar related to helping people with something in their lives: If you sell life insurance, put on a seminar about getting along with your teenage kids or managing the stresses of a busy life. These are the things people care about. (If you sell home insurance, put on a seminar related to home ownership, home buying and selling, and real estate investing. If you sell car insurance, put on a seminar about extending your vehicle investment or getting better mileage).
- Offer a “sponsored message” about insurance in the middle of the seminar. Collect names of people who are interested in signing up for insurance there. Invite people to refer others.
- Follow-up a week later with a report mailed to your seminar attendee’s home.
- Put them on your direct mail list but make sure you send short, valuable content regularly.
Insurance is a huge business online so you’ll also need to make sure that your insurance business is pursuing online marketing options:
- Whitepaper reports
- Case studies
These content strategies, combined with a unique and memorable approach, can help to increase your offline and online insurance sales.