In the current, ever-changing insurance space, differentiation is a growing challenge. Products are increasingly commoditized, with little differentiation in terms of the products and added value propositions. And, one begins to look like the other and the other and the other.
Insurance Brand Growth Blog
As an insurance business owner, your main concerns are the people and businesses you provide insurance, peace of mind, and options for. But who are they, and are there more your business could be serving? The key to excellent marketing is knowing who needs your services and why, but investigating it isn’t always easy. Many people search on the Internet to find insurance today, and search extensively.
Let’s face it: all of us need some help with our businesses at some point -- whether it's in the marketing department or help with reaching the best audience for your insurance services, Hult Marketing has you covered. The life of an insurance business owner or a marketing director is busy, and often a marketing company can provide a niche insurance business like yours with the support it needs to keep the ball rolling and keep your services in demand among your clients.
Niche insurance is a burgeoning industry -- sometimes it's much easier to address your clients’ concerns when you have a niche client base. However, you may have a harder time coming up with relevant, interesting blog posts that address every aspect of your clients’ insurance needs and interests. For niche insurance, thought leadership marketing is one of the best ways to target and hold your clients’ interest using blog posts. Let’s take a look at thought leadership marketing, what it is, and how it can drive interest in, and readership of, your blog posts.
Your delighted customers are your best advertisements – when a customer shares their experience with others, it is like a personal recommendation and plays a significant role in the decision-making process. At one time, this “sharing” was done via word-of-mouth, but it is now done online, via reviews. Reviews enhance trust, provide social proof, and actually act as a personal recommendation, even when the reviewer and reader don’t know one another at all.
The idea of company culture can sometimes sound like a bit of marketing mumbo-jumbo. However, even if you've never taken the time to formally describe your culture, your insurance organization has one. If you do have a defined culture, that internal activity doesn't affect your insurance Brand's marketing strategy, right?
According to a J.D. Power study, 74 percent of buyers use insurer websites and aggregators for quotes and research before choosing an insurance provider. The study also found that among customers who switch insurance providers, fewer and fewer are doing so based on price alone.
Attracting and retaining the best agents is an ongoing process that's central to your company's success. If you're not leveraging the power behind your insurance marketing to build connections with agents—not just customers—you may be missing out on the top talent. Here are 3 ways to focus on agents in your insurance marketing.
You may have started to think about what your Brand stands for and what sets it apart. Now, it's time to look outward. After all, if a Brand is built and nobody hears it, does it make a sound?
When was the last time your insurance Brand updated its marketing strategy? The insurance marketplace is constantly evolving, and your organization’s marketing strategies can quickly become outdated.
From our experience, there are several common marketing mistakes that insurance Brands frequently make. To ensure that your Brand doesn’t fall prey to those same errors, adapt your marketing strategy to avoid these five disastrous mistakes.
Marketers sent 838 billion emails in 2013, and that’s not the only statistic that proves that email is still a relevant marketing tool. Since email is a key function in inbound marketing, your insurance organization needs to be using it as part of your overall marketing strategy. However, with so many emails cluttering independent agents’ and brokers’ inboxes, your insurance Brand needs a way to catch their attention and avoid becoming “graymail.”
Nowadays, there are hundreds of tools and resources available to help you successfully develop and execute your insurance Brand’s marketing strategy. However, with so many tools to choose from, it can be difficult to know which ones will work best to achieve your organization’s goals.
Here are 6 marketing tools that your insurance organization should know about.
Do you remember learning the alphabet when you were younger? The letters were new and different and at times you were confused by what you were learning. However, once you figured it all out, you could start putting the alphabet to use.
Imagine this scenario: You go out for dinner and after chowing down on a juicy steak and buttery baked potato you just don’t feel satisfied. You’re feeling like you need a little more. You swipe up the dessert menu and browse for the perfect sweet treat. Finally, you land on something. The varieties are endless, and each dessert differs in one-way or the other. After devouring your chosen delicious treat, you finally feel full and completely satisfied.
Bottom line—What do you hope to achieve through marketing? Are you looking for a quick profit boost by the end of the quarter? If so, then go ahead and pour money into another non-strategic ad campaign. You know the campaign: “We sell the best products for less!” Just remember, you’ll be doing the same thing next quarter, and the one after that, because short-term, fast-tracked marketing tactics are just temporary fixes that devour budgets without any long-term return.
In the words of a gimmicky infomercial guy: “There's got to be a better way!”
What if marketing was less about short-term jumps in revenue and more about communicating what makes you truly unique—your Claim of Distinction? While one-off campaigns may do little for Insurance Brand value, a consistent Brand experience serves to build this value. Customers will happily recommend your product or service to their friends and family because you’ve established and built trust with them.
Whether you're talking physics or marketing, changing direction takes a lot more effort than staying on course. For Insurance Brands, developing a Claim of Distinction and an effective strategy to communicate it requires a lot of time and attention. But if you forego the next phase in this process, all of that effort could be for nothing. Your Brand strategy is that important.
If you have been following our Insurance Brand Development series so far, you may have started to think about what your Brand stands for and what sets it apart. Now, it's time to look outward. After all, if a Brand is built and nobody hears it, does it make a sound?
Part 1 of our Insurance Brand Development series was quite a paradigm shift for many of you; after all, we flipped the typical Brand building process on its head.
If we were successful, you've spent some serious time considering how you can build your Insurance Brand from the inside-out, starting with “why” (the reason you wake up in the morning and do the work you do), instead of starting with “what” (your product or service).
We have a confession, however: we didn’t tell you everything.
While it is fundamental to start with why, it's only that — a start. To get any mileage from this new perspective, you must take action to identify what it is that sets you apart — your Claim of Distinction — which is where we pick up here.
Calls-to-action have the power to grab consumers’ attention and direct them to take action. They make it easier to survive in the digital world, where every organization is fighting for that attention.
A call-to-action (CTA) is an image or text that prompts visitors to take action, like subscribing to a newsletter, viewing a webinar or requesting a policy quote. CTAs should direct visitors to a landing page, where you can collect their contact information in exchange for your offer. CTAs push visitors through your funnel and create awareness for your Insurance Brand and your inbound marketing campaign.
“Customers don't buy your product, they buy your Brand.”
It's a phrase as old as marketing, but it becomes more relevant every day. Gone are the days of operating business behind a front of slick images and catchy tunes. In today's transparent, social world your Insurance Brand is your product.
In light of this, we're kicking off the Insurance Brand Development series by starting with a deceptively simple question: what is your “Brand”?