The Kind of Insurance Marketing that Never Fails

The Kind of Insurance Marketing that Never Fails

Digital insurance marketing is the way of the world right now. We have the power to reach out to an abundance of consumers and new markets through the internet like never before. But with these advancements, we have to remember that advertising isn’t limited to just ads and commercials. Your advertising strategy should include traditional word of mouth promotion along with these modern methods.

See, the internet is oversaturated with insurance agents advertising all kinds of promises, leaving consumers with the burden of figuring out who is authentic and who is just another savvy online marketer. Word of mouth promotion bridges this gap. While you may not be able to get business solely off of referrals, they still remain an important part of your reputation. So, let’s explore the reasons and ways to boost your word of mouth influence.

1. Timing

Timing is a key reason why word of mouth insurance marketing is so influential. While ads may catch someone’s eye at any moment of the day, a referral will have the most impact when someone is actively searching. Your clients don’t walk around praising your amazing customer service all day, and we’re glad they don’t (imagine how annoyed the people around them would become). Consumers today are exposed to so many ads (an estimated average of anywhere from [1]4,000 to 10,000 a day) that we’ve learned to tune most of them out. But of course that doesn’t mean people don’t want advertising, they just want it when it’s convenient. And your past clients are perfect at timing, knowing just the window to mention you. Their recommendations will come at a time of need, making the success rate much higher.

2. Credibility

Word of mouth gives agents an extra boost of credibility. The [2]number one most trusted form of insurance marketing is through family and friends. If someone’s peer can vouch for your services then their expectations for you are higher than that of other agents being advertised to them. People tend to believe that actions of a crowd are correct, giving you the advantage of clients being more susceptive to you as an agent. In the end, while referrals will only be a small portion of your leads, they have a large success rate.

3. Traceability

Insurance marketing becomes most effective when you can track the process, see the outcomes, find what was most successful, and then repeat. Getting referrals from clients is an easy way to trace your best tactics because you can simply ask who recommended you. Figuring out what made you stand out to that client is essential for you to continue getting referrals. Did you send them birthday cards? Sponsor their kids’ local sports team? Once you identify the key factor, you’ll know what your customers value most and can start highlighting those behaviors to continue the trend of referrals.

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Now we know why customer referrals are a timeless form of insurance marketing, but what are some of the most effective methods?
Testimonials

Online reviews are one of the topmost effective ways to establish trust from clients. People want to hear that if they chose your services, they will not regret it. Reading a testimonial will convey your success and reliability so much that the majority of Americans who read positive reviews are more comfortable and probable to complete a sale. A great example of this is Yelp where [3]one star can affect business revenue by 5-9%. Other examples of testimonials include asking clients to write a success story of your services that you can post on social media, giving you an endorsement on LinkedIn, or having client quotes on your website.

Stay Relevant

Staying connected with clients is a great way to stay fresh on their mind when the time comes for a recommendation. Of course, this can be done in many different ways such as engaging on social media, sending cards, and more. The more of a lasting impression you can make on past clients the better chances you have of getting their referral.

It’s easy to underestimate the power of a referral as insurance marketing since it’s not as flashy as the stuff we see today. But the authenticity behind referrals and reviews portray a truth that most feel is masked in the majority of ads. Give potential clients confidence in you with the use of referrals. Follow our blog for more tips on how to maximize your success as an agent.


[1] Forbes: Finding Brand Success In The Digital World https://www.forbes.com/sites/forbesagencycouncil/2017/08/25/finding-brand-success-in-the-digital-world/#72555f48626e

[2] Marketing Charts https://www.marketingcharts.com/charts/consumers-brand-information-sources-and-their-trust-in-them/attachment/kantar-brand-information-sources-and-trust-in-them-may2019

[3] “A one-star increase on Yelp can lead to a 5-9% increase in business revenue (Harvard Business School, Michael Luca, 2016)” https://learn.g2.com/customer-reviews-statistics#reviews-increase-sales