What Is the Benefit of Insurance Marketing?
Is marketing really worth the time and money you spend? That's the perennial question as you delve into your business budget. Can't you just rely on word of mouth and the positive reputation that your agency has built over time? What is the real return on your marketing investment, the real benefit of insurance marketing?
Marketing Can Consciously Shape Word of Mouth
Word of mouth is a powerful marketing tool. That is its advantage for your insurance business, but that is also its challenge. When it is working for you, word of mouth is wonderful. Many new leads hear about your business, and there's a positive buzz in the community.
Unfortunately, in this digital age, it is also very simple for a single disgruntled customer to share his or her annoyance with you all over the internet. A few bad reviews on different websites could be the first thing that leads see when they research your agency. Today, a single person has a lot of power to ruin your reputation, even if 99 percent of your customers' experiences are very positive.
This means that your insurance marketing must take charge of your online reputation, fostering it intentionally rather than letting your customers take the reins. You can do this by asking customers specifically for online reviews and encouraging them to share your information with others online. Through this intentional marketing request, you'll increase the likelihood of getting positive reviews.
Avoid Reputation Management Crises
When you take charge of your marketing and your reputation, you avoid having to jump into a reputation crisis. According to Forbes , "we need to think about our reputations as a constant, competitive advantage; a driver of growth and prosperity; and a strategic asset." Your marketing team's job is not just to create content. It also needs to:
Monitor your reputation. Keep track of what others are saying about your insurance agency, specifically online.
Acquire those new reviews so that your leads see positivity when they first learn about your company.
Take those online reviews and mix them with other marketing messages so that you can send out positive messages about your company to the world.
In these ways, your word of mouth marketing and your marketing department work hand in hand to make sure that the word of mouth that spreads about your agency is positive, rather than destructive to your business.
Word of Mouth Impacts Everything About Your Business
According to ThriveHive, taking charge of your word of mouth marketing not only impacts your clients, but it impacts the way that your agency connects to the larger community as well. "A good business reputation is important because it will facilitate growth in your most valuable relationships and will have a ripple effect throughout your entire network."
Others in the community want to work with your business, invest in your business, or partner with you in other ways, such as renting a space. Taking charge of your marketing allows you to develop your reputation in a way that clients and community partners alike are more amenable to connecting with your insurance agency.
American Agents Alliance is proud to offer marketing tools for your business and the education and networks that help you use those tools. Contact us today to learn more about our membership benefits , our Alliance Convention , and much more.