Marketing for the insurance business is currently rich with creativity and innovation, as are many services that each insurance company offers. So how do you make your insurance business stand out amongst the likes of Geico's gecko or caveman, that cute girl named Flo from Progressive or Allstate's actor-spokesman who also plays a president on TV's "24"? Here are a few tips.
Research
Research is key to any successful marketing strategy. For your business' marketing plan to succeed, you and others tasked with implementing your strategy will need to know the demographics of potential customers and how they prefer to be reached. The marketing strategy for any business, at its core, is about one thing: the benefits. No matter how well you think you know your business, you must do the research to find out what customers need that they can't get through any other insurance business. That unique benefit must be one that is meaningful to potential customers. You can find this out by posting online surveys and hosting focus groups, among other options.
Differentiation
You should strike a balance between creativity and a brief but clear explanation of what your business has to offer that other insurance companies do not. Aside from differentiation in marketing, your strategy should consider what type of insurance business yours is, i.e. does it actually insure customers, is it a broker like Progressive, or is it a consulting firm that specializes in providing financial advice for insurance customers who are shopping their options? After the research findings are finalized, begin to implement your strategy.
Marketing Ideas
Traditional media is always an option if you have enough in the budget. For any business, however, guerrilla marketing is a great way to start getting the word out about your service's benefits through actionable means. For example, if you want it known that your main benefit is a proven track record, you can host a faux track and field meet with your agents running the races and your business cards tossed in the air at the finish line to celebrate the victor. There are lots of options in guerrilla marketing or any other strategy. As long as you remember to make your business stand out by expressing its unique benefits briefly and clearly, and have research to back it up, you should find success.
Tags: your business, insurance business, your strategy, business stand, guerrilla marketing