How Does Purpose-Driven Marketing Impact Your Insurance Business?

How Does Purpose-Driven Marketing Impact Your Insurance Business?

Why do you sell insurance? 

Are you doing it because it's a family business? 

Does it fill a need in your community? 

Do you want to help people protect their properties or their family? 

Increasingly, customers are asking companies to make it clear what meaning they give to the work that they do. According to the Deloitte Millennial Survey, 91 percent of Millennials would switch brands to a brand connected to a cause that they believe in. 

Are you using purpose-driven marketing to market your insurance business? 

The Rise of Purpose-Driven Marketing

You want to share with your customers. However, building community doesn't always come easily, especially if you own a business that customers visit only once in a while. 

Purpose-driven marketing unites you, your customers, and the community-at-large in a mission to make changes. Whether you're raising money for childhood cancer or helping families prepare for a disaster, purpose-driven marketing moves businesses away from financial achievement as their only benchmark of success. Instead, businesses focus on making an impact in the community, and achieving success in that area becomes just as important as their other purpose – and complements it.

Why Purpose-Driven Marketing Benefits Your Insurance Business 

How can purpose-driven marketing benefit your insurance business? 

  • According to Get Response, "It aligns leaders and team members around a common purpose, mission, and culture." Purpose-driven marketing brings your employees and community members together to reach a goal.

  • You develop a natural credibility in your field. For instance, if you help families who are preparing for and cleaning up after floods, then your company not only has expertise in the information side of this business, it also has respect in the community when it's seen as doing hands-on work to help.

  • You can attract quality, driven staff who buy into your company culture. When new employees are looking for insurance jobs, they may be attracted by your insurance business's purpose and choose your company over others.

  • You build your business. You become known through word of mouth as the business that has a purpose, and people will choose you because of your cause. 

Starting Out With Purpose-Driven Marketing 

How can you begin to build a purpose-driven insurance brand and draw customers to your business and new employees to your insurance jobs? 

  • Start with conversations around your business values and purpose. What cause would you like to make your own? 

  • Create a strategy about how you can best contribute to or support that cause. You could do something as simple as partnering with a specific nonprofit, or you could get hands-on doing activities in your community. The key is to act in alignment with a specific purpose over time. According to Forbes, "brands that partner with nonprofits or charities, or set up internal programs that “give back” in some way have a much stronger presence because their story resonates with the hearts of consumers."

  • Make sure that your employees are committed to the cause, and hire people who have values that align with your insurance agency's purpose.

Are you ready to build an insurance business with purpose? Talk with American Agents Alliance. Contact us today to see how we can help you build and grow your insurance business. 

Leave a Reply