The one sentence that might be killing your insurance broker marketing efforts

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When I open the newspaper or flip through the phone book, there’s one phrase used by a lot of insurance brokers. Unfortunately, this phrase is not an effective use of the limited space in your marketing and advertising.

The sentence I see repeated over and over in a lot of insurance broker marketing is: “Helping you with all of your insurance needs” (or something those lines).

It seems like a good marketing phrase to use because you want to talk about your ability to serve the different kinds of insurance needs that people have — including auto insurance, home insurance, life insurance, and so on.

But that phrase isn’t effective for the following reason:

PEOPLE THINK THEY ARE ADEQUATELY INSURED…
BUT THEY ARE UNDER-INSURED

You say that you help people with all of their insurance needs, but they’re thinking: “Great. But my insurance needs are fully covered already”… as a result, you lose the ability to communicate with them further.

You disqualify them from continuing on in your sales funnel.

WHAT TO DO INSTEAD

Forget telling them that you can help them with all of their insurance needs. Chances are, some of your marketing already lists the different kinds of insurance you offer anyway. And, the first step is to build a relationship with them, NOT to try to get them to switch their entire portfolio of insurance over to you today.

Rather than highlighting something that they don’t perceive is a problem, change your marketing to communicate something that is of greater value to them. For example, consider including some of these opportunities where appropriate:

  • Call us to find out how you can save $1000 per year on your auto insurance
  • Are you making the 3 biggest blunders in your home insurance?
  • Did you know there are tax advantages to certain types of insurance?

The 3 example sentences above are very specific to one type of insurance, they have an immediate benefit, and they either ask a question or prompt a call-to-action. They are designed to cut through the mindset of the client who mistakenly believes they are underinsured and to reveal that there are more opportunities to benefit from insurance.

Of course, once you meet these clients, that’s when you help them, build a relationship with them, sell them one kind of insurance, and THEN reveal that there are similar benefits with all the other types of insurance you offer.

[Image credit: drcorneilus]

Great news for real estate agents: Industry survey reveals 6 ways to get first-time homebuyers to buy from YOU

Twice a year, Trulia performs a survey to understand home ownership trends. The results from this year’s survey can help real estate professionals sell more homes.

First, let’s look at an infographic of the survey results, then we’ll talk about what these survey results mean for real estate professionals who want to sell more homes to first-time homebuyers.

SURVEY RESULTS


Real estate agents can help renters buy homes (Picture not showing up? Download it here).

The survey shows that, although 59% of current renters WANT to own a home, they are prohibited by 6 specific hurdles. In order, they are:

  1. Saving enough for a downpayment
  2. Qualifying for a mortgage
  3. Having a poor credit history
  4. Unable to pay off existing debt
  5. Not having a stable job
  6. Declining home values

WHY THIS IS AN OPPORTUNITY FOR REAL ESTATE PROFESSIONALS

Don’t read this as a list of “6 excuses that keep renters from home ownership“.

Clients buy because they find value in what is being sold. They have a problem or need and the value they perceive comes from an effective solution. Think of the above list as the 6 problems renters face AND the 6 solutions you can offer to help renters become home owners.

By addressing these exact problems head-on, you gain the trust of renters while at the same time enabling them to become homebuyers!

  • Refine your brand around these 6 issues. Consider creating an entire website or blog specific to helping renters become homeowners.
  • Shape all of your online marketing around these 6 issues. When writing articles or tweets or Facebook posts or YouTube videos, make sure that all content addresses at least one of these issues. Blog about each one from Monday to Saturday then start over the next week (and the next, and the next). Build all of your content around helping renters overcome these hurdles.
  • Build referral relationships with professionals who specialize in these areas. Build relationships with money-saving experts, credit repair agencies, and career counselors. You can send client referrals to these professionals and receive client referrals from them.
  • Market to this group sooner. Don’t wait until renters have solved these issues before they come to you. Market to them sooner with content that explains how you can help them solve these problems to buy a home.
  • Build service packages around these 6 issues. Extend your real estate services with added value services (such as debt counseling and credit repair).
  • Create products around these 6 issues. Create ebooks and ecourses that these clients can pay for to help them overcome these hurdles. For example, write an ebook on how to save money for a downpayment.

Real estate professionals who want to sell more homes need to figure out what problems their potential homebuying clients face and they need to solve those problems. Trulia’s survey reveals 6 problems that potential homebuyers have, and this list can become the primary inspiration for all of your online marketing targeted to first-time homebuyers!

Read more about the Trulia survey on their blog.

What I’m working on this week (Sept. 26-29)

It was quite the week last week! Some home renovation contractors showed up at our house two days earlier than expected, which threw my tightly-planned day into disarray! The work was done well (and I was glad to have it done earlier than expected) but it did require quite a bit of moving around projects like chess pieces. Regrettably, my blog suffered.

Here are some highlights of projects I’m working on this week:

  • Continuing a ghostwritten book that I started for a real estate investor last week
  • Starting a ghostwritten book for another real estate investor this week
  • Complete a series of regular monthly articles for a mortgage broker
  • Developing a strategy for a niche investment website

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