Insurance Brand Growth Blog


 April 19, 2018

Discovering the Truth, Beginning with ROI and Building an Evolving Strategy: 3 Best Practices for Insurance Marketing Success

51967936_mEffective inbound marketing for insurance Brands begins with an evolving strategy. It's not a "set it and forget it" event. Instead, you use the information you have to create an informed starting point and then monitor and tweak your processes as the results start to come in. That way, you can achieve the best possible return on your investment.

Here are 3 best practices to get you started:

1. Differentiate Your Brand

Before you can get potential customers interested in your Brand, you have to find out what makes you stand out from the competition. Step away from the mission statements and advertising taglines for a moment, and seek to discover the truth that drives your Brand. 

What do you deliver on a daily basis? What are you communicating to your customers? Make sure your mission is in alignment with what you're giving.

2. Proving the ROI of Insurance Marketing

When C-Suite starts talking about budget cuts, marketing seems to be one of the first places they turn. On the surface, marketing appears as nothing more than another expense, something to direct funds toward, and when funds run low they must be cut.

However – inbound marketing has a distinct ROI that can be proven. When the boss sees that those marketing dollars are working hard to earn the company money, she'll be less likely to give tighten the belt. 

Inbound marketing works because it evolved from changing consumer behavior. The majority of today's consumers start the purchase process with a web search, and you must have the answers they seek if you're going to be competitive. The inbound method revolves entirely around capturing these web researchers and gently walking them toward a sale.

And the proof is in the pudding:

  • 85 percent of B2B relationships will be managed without human interaction by 2020.
  • Sales close rates increase by as much as 20 percent when leads are nurtured.

How does one nurture a lead without human interaction? Inbound.

3. Start at the End

Successful inbound campaigns begin with a specific, measurable goal. "Get more leads" is a great idea, but a terrible goal. "Increase leads by 20 percent" is a good goal to build a strategy around.

Start creating your strategy on who you want to influence to start reaching that 20 percent goal. What do you want them to do? Then, create a campaign that's focused entirely on the needs and the problems of that group, and determine which metrics to follow to make sure your efforts are all pointing in the right direction.

Lastly, check in with your campaign frequently and make small changes as needed to make sure you're continually moving toward achieving your goals.

Building a Strategy for Your Insurance Brand

A comprehensive inbound strategy will have lots of moving parts, but each of those moving parts is made up of a very specific target and smaller steps along the way that lead to that goal. Start by knowing who you are as a brand and what you want to achieve, and build your plan around the needs of the people who you want to be your customers. That way, you'll be able to show an ROI that every executive will appreciate.

Learn more about Brand Development with our free eBook, Inbound Marketing: 10 Best Practices for Success in the Insurance Industry.

Let's chat and put the Hult Team’s inbound experience to work for your Insurance Brand. You can reach me at either 309-673-8191 or jflynn@hultmarketing.com, and together, we can grow your insurance Brand.