Insurance Marketing in Today’s Tough Economy

Written By: Brandon Hansen on November 30, 2009 No Comment

Insurance marketing and insurance sales, especially in this economy is a battle that most all financial planners face every day. Whether you are focusing on life insurance marketing, health insurance marketing or insurance direct marketing, the common concerns are the same.

When it comes to insurance marketing, some of the common questions may include how do you attract new clients, or how do you convince that they need to come in to see you and talk about their financial future?

Your insurance marketing plan should be set up in a way so as to provide you with several ways to attract prospects automatically so you can focus your time on doing what it is you do best – investment or insurance sales. Perhaps you are overwhelmed, but there are plenty of strategies to utilize in your insurance marketing plan.

First things first: set up an insurance marketing strategy. Strategies are similar to plans or goals. They are designed to give you an overview of all the insurance sales and products that you offer so you can effectively plan how to deliver your products to the marketplace. Keep in mind that consistency is key and you should plan on doing a couple things on a weekly basis towards your insurance marketing plan.

Let’s talk about the difference between a strategy and a tactic and some ideas on how they relate to your business.

Strategies: What Are They and Why Do They Matter?

Strategies are the big picture action items that will help you grow your business they way you want.

For example, one strategy you could have would be to build one new relationships with a joint venture partner, like an attorney or CPA every single month. It doesn’t take long to do this and if you did it for a year, you would have twelve different partners referring you business. Another potential strategy would be to better define who your target market is and just work with those specific people. These are strategies.

A tactic is the steps you are going to take to get accomplish your strategies.

What is a tactic?

Like I said, tactics are the steps you take to accomplish the strategies.

If you really do want to set up a joint venture relationship with a new CPA or Attorney per month you could frequent the same networking groups. You could (and should) talk with your own CPA and explain what you are attempting to accomplish and work out an agreement with them.

The tactics you could follow when defining your target niche for example is to survey your current client base and see if there are any similarities between the m. Find out what type of person you most like working with and focus your insurance marketing messages around that type of a person. Go deeper, not wider in your efforts.

Figuring Out Your Insurance Marketing Channels

What you want to keep in mind about insurance marketing is that there are many different ways to approach marketing for insurance agents. We are in an industry that can help everyone. You should not get too attached to one type of marketing strategy because you never know when that channel is going to dry up. If you focus all your marketing efforts on seminars, and then rules change or people stop coming to the seminars for some reason then you are lost on other ways to attract clients. You must always have three or four ways of attracting clients and prospects that fit into your insurance marketing plan.

If you want to learn more about how to effectively set up an insurance marketing plan, come to my website. I offer a free CD that will give you an inside look into the marketing minds of some of the best insurance marketers in the industry today.

Looking to find the best free tips on Insurance Marketing, then visit www.MarketYourPractice.net to find the best advice on Insurance Marketing Ideas for you.