Insurance Journal Forums

I am new to an independent agency that does no advertisement whatsoever. I am looking to do my own advertisement, but am concerned about costs. Just wondering if anyone has some suggestions about works for you. Thanks!

The hard, or easy part about suggesting how to promote your business is my simple conclusion that what works , or doesn't work for me, may have dramatically different outcomes for you. Promoting an insurance agency is VERY location specific.

For some, newspaper ads work. Others still are located in areas where Yellow Pages are used for acquisition shoppers. Maybe a paid sign on the outfield fence of a high school or little league baseball team will make the phone ring. Perhaps your smiling face on a shopping cart seat will intice prospects to give you a call. Direct mail...maybe it works in your area because everybody reads what gets dumped into their mailbox. Or not.

If your moniker here is indicative of you being in South Dakota, I wouldn't for a moment begin to try and tell you what to do because that marketing area is very different from my own in California.

If there is any broad advice I could offer, it would be to go slow and be very careful of how you spend your promotion dollars. Advertising sales people will promise you results that are unattainable to get you to sign on, and they will have little sympathy if your hard earned dollars don't produce the results that were implied at the point of sale.

Try something and truly track results. Don't buy into the hype of institutional advertising. People only get interested in shopping for insurance when they have that itch to scratch. Your challenge is to have your message in front of them when they're ready to deal with insurance. To spend $100 and have a return of $20 will only put you out of business. And remember, there are 'free' ways to promote your business...most obvious is networking and making yourself available in social and business situations without any sales pressure...just presenting yourself as a helpful resource.

Good luck.

Are you talking about Personal Lines or Commercial Lines?

Just so you know, I am located in San Diego, CA. I sell both personal and commercial, but would really like to focus more on the commercial side.

Hey, San Diego...
I'd suggest you (and your agency Principals) talk to your preferred carriers. We did a cost-sharing program with Safeco a few years ago, and it raised quite a few leads for us. Obviously, we didn't write them all, but did boost our personal lines premium by over $200K and the commercial by over $50K directly due to the campaign. On the personal lines side they gave out an atlas. The "gift" for the commercial side was a decent enough desk clock. The point to consider is that the carrier is going to expect first shot at the case, so plan to use that carrier if possible. My agency had earned some "Safeco Bucks" during the past year to spend on these programs, so the real cost was very little.

Ask your agency principals if there are any such opportunities for you, or at least get their permission to visit with the company reps about these ideas. Chances are one of your companies will want to work with you.

Good Luck!

Swymmer

If you are looking to do some commercial advertising, have you thought about appointment setting? Radio, TV, Yellow Pages, billboards and mailers tend to have very low returns and those that do contact you are not always your ideal prospects.

With an appoinment setting service, you can specifically target areas and industries that you are interested in and we do all the work to get you in front of the interested prospects.

If you have a few minuntes, give me a call.

thanks

I target a few specific niches, and joining local trade groups, sponsoring their events and showing up at all of them to network has paid dividends many times over. Six weeks after joining one trade group, I wrote a $150k commercial account. I turned around and invested about 25% of that commission into sponsorships of the same association, and have written several other members, generating $200k+ in commercial premiums. I work that association hard, and make a point to send out "nice to meet you" notes, thank you cards, newspaper clippings, etc. to target prospects whom I've met.

If you have a niche, ask your clients what associations they belong to, then join. Be active. If you don't show up to most meetings, join a committee, you're not going to get your money's worth. 1-3 good associations can cost a few thousand a year between membership and sponsorship/advertising.

If you don't have a niche, get one. It'll help focus your efforts and advertising dollars. Also, you quickly build credibility. Yesterday, I presented a seminar to 30 members of one of the associations, and now I can be perceived as a subject-matter expert. I already have one meeting.