Email marketing is growing in popularity with insurance brokers and for a good reason too as more turn to the digital age and re-discover how to provide information and industry news to clients. Whether you are a personal lines broker or a commercial broker, if you are not using email marketing, here are 5 reasons why you should be:
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£4,400 for every £1 you spend?
Out of all the various marketing strategies available, email marketing is considered to have the highest return on investment for online marketing. Campaign monitor found that email marketing has a 4400% return on investment. 90% of email gets delivered to the intended recipient’s inbox, whereas only 2% of your Facebook fans see your posts in their News Feed.
This potentially means in the insurance broking world, for every £1 you spend, you can gain up to £4,400 in commission back. The challenge we at the BrokerLink have found is that brokers are just not using email marketing properly.
Click here to read the top 5 mistakes we see from brokers when they run an email marketing campaign.
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It is cheaper
Perhaps the most appealing advantage of email marketing is the return on investment. No print costs, no postage fees, no advertising rates. Email marketing is as affordable as marketing gets. Most bulk email service providers will allow you to send emails to about 2000 emails every month for free. You don’t need to break the bank to take advantage of this.
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Become number 1 in your customer’s eyes
Each time you send an email, you send your target more information about their industry, your business and your brand. With strategic planning, the right design and the right targeted content, your business will be consistently building its brand. By doing so, you stay with your audience. When a customer needs an insurance policy, you will be ‘top-of-mind’ for them. Your business will stand a much better chance of providing a quote and trusted recommendations which will lead to a sale.
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Better targeting
With email marketing, you have the ability to control exactly who sees your email. By segmenting your contacts based on their characteristics, demographics and location etc your message can be more relevant. Targeting your emails in this way ensures that your audience receives information suited specifically to their needs. For example solicitors do not receive information about fleet insurance which might put them off reading your next email.
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It is measurable
With new email marketing software such as Mailchimp, it is easy to measure which emails were delivered and to who, how many were opened and which users engaged with your information. You can also easily see who forwarded your emails and to who. These insights can show you the policies and information that customers want and will help you come up with the right leads for your business.
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To find out how to take advantage of email marketing, click here to get in touch and we will talk you through what you can do.