When many agents enter the field of insurance they are excited about the thought of passive income. After all, when you earn someone's business one time, they will renew year after year, right? It is certainly great when you have 90% + of your customers renew, but what if your customer base is not big enough? What if you're past policy sales are so small that the “passive income” does not amount to enough for you to eat on?
Getting decisions from your past policy sales is wonderful, but counting on it can leave you exposed to, too much risk! Without a consistent pipeline of new policy sales for your insurance business you will see your check dwindle as people change policies or reduce their coverage amounts. To bring in new insurance business now, I would invite you to consider putting fresh marketing into action.
It can not be just any insurance marketing. To bring in new business now, consider the following marketing methods.
- Social Networking – Do not just “get on” Facebook and Twitter. There are 100's of millions of people on the networks, and they are eager for information. Develop a quick social networking strategy that includes sharing video, text, photos and even online events to share with people the challenges and benefits of insurance. Focus your schedule to just 15 minutes a day and you will start getting more people asking you about how you can help them.
- Online Marketing – While online marketing can include everything from pay per click to a website focus on just 1 aspect. Start a niche blog site (try wordpress) and write weekly, maybe even daily, about what people need to look for when selecting an insurance company and agent. Do not make it a sales pitch, be helpful and watch the search engines and prospective customers come rushing after you.
- Follow up – The best insurance marketing in the world can be ruined by poor follow-up. Follow up can be in the forms of direct mail, email follow up and the phone. At a minimum with your marketing, I would invite to consider having an automatic email follow up system that adds value to prospects over 60, 90, and even 300+ days.
While there are many marketing methods to choose from for your insurance business the above three will save you time and having you selling new policies quickly. By putting just one into action you will build a pipeline quick of eager insurance prospects.