Is your business ‘marketing-ready’ for 2018? We have analysed the latest trends for insurance brokers and have come up with this checklist to help you prepare for 2018.

In the new world of digital marketing, there are countless options, from search engine optimization (SEO), social media marketing, blogging, email marketing, SMS marketing, just to mention a few. Your business and the type of policies you sell determines the strategy you should apply. Whether it is an inbound marketing approach or outbound marketing.

Companies like Aviva have embraced these strategies and seen a 48% increase in policy sign-ups as seen in this case study. For brokers, inbound marketing works. Let’s explore some features of it.

Inbound Marketing

Inbound marketing has been defined in many ways but we agree with the HubSpot definition which says that;

“Inbound marketing is an approach focused on attracting customers through content and interactions that are relevant and helpful — not interruptive. With inbound marketing, potential customers find you through channels like blogs, search engines, and social media.”

In simple terms, inbound marketing seeks to attract clients to your business while providing them with value, whereas outbound marketing broadcasts a message in hope of gaining interested clients.

Content in Context, that is inbound marketing.

Proper execution can cause your brokerage to increase exponentially through gaining and retaining clients who are in need of your policy.

Attracts genuine users

Most insurance brokers are spending a lot of money on outbound marketing ads which may reach a lot of people quickly but the majority of those people will not be interested in any of their policies. Inbound marketing only attracts users who are genuinely interested in your product and hence increases the chances of converting into a sale.

It is cost effective

The best thing about inbound marketing is that you do not have to break the bank in order to benefit from it. Many shy away from inbound marketing because of the false notion that it is expensive. Spending money on a marketing strategy that brings you direct clients who are interested and ready to spend on a policy is much more valuable than spending money to attract ‘window shoppers’ who glance through your services and may never make a purchase.

You don’t need a large budget to run inbound marketing campaigns, rather what you need are experienced professionals who understand both inbound marketing and the insurance broker market. Our marketing campaigns are designed to fit your budget so get in touch and let’s discuss a strategy to gain you more clients.

Long lasting benefits

Most insurance brokers are spending a lot of money on outbound marketing ads which may reach a lot of people quickly but the majority of those people will not be interested in any of their policies. Inbound marketing only attracts users who are genuinely interested in your product and hence increases the chances of converting into a sale.

Increases your influence

Being a key figure of influence in the brokerage market is essential to attracting sustained and continuous clients. The level of content that is produced through the inbound marketing process serves as a very reliable resource to anybody searching for information on policies online.

Your content can open a lot of other doors for which can give you access to even more prospective clients. Set yourself a challenge to start now and remember that it takes time and consistency to start reaping the benefits of inbound marketing.

Get in touch with us for the very best of inbound marketing to help you increase your GWP through cost effective and proven methods.

Feature image source: yourdigitalresource.com

Creating the right content for your social media audience is one thing, posting the information at the right time is another very important aspect of reaching your target audience organically. Each social network has its uniqueness and hence a one-size-fits-all approach is just not practical when working with multiple social media accounts. Here is a guide to help you choose the best time to post on Facebook, Twitter, Linkedin or Instagram.

We have a dedicated team willing to help you create content and distribute that content to thousands of prospective clients through in-depth social media management for insurance brokers. Get in touch for a quote from us.

• Click here to read our new blog- How AVIVA increased their quote rates through email marketing

Digital marketing, if implemented effectively, can lead to great business growth and lead generation for insurance brokers. The key to this is avoiding these common digital marketing mistakes we see insurance brokers make over and over. Here are 10 pitfalls that you want to avoid slipping into, as an insurance broker:

1. Not having a strategy

This is the biggest digital marketing mistake we see over and over again. Brokers fall into the trap of having a big, beautiful website made and turning to social media as their saviour, without having an effective digital strategy in place. The best strategy for insurance brokers is one which understands what your business is trying to achieve and brings together your website, social media, email marketing, search engine optimisation (SEO) and your staff to support that objective.

Ask yourself this- Are we just posting on social media and hoping for leads? or do we have a strategy that brings our digital marketing together? If you don’t have a strategy, click here to speak to us.

2. Not understanding the end goal

Never start with social media and digital marketing without understanding your objectives. And having an objective of ‘’lead generation’’ is not enough- you need to break this down. Understanding your objectives will help you attract potential clients first with content that is relevant to them, before subtly introducing your services. Engage them with educative and relevant content, and they will be ready to hear about your policies and the great claims service you provide. Sell yourself less, and start focusing on your prospects’ problems and concerns.

3. Not understanding who their customer is

Who are you targeting? Have you developed a buyer persona which matches your target client? Most brokers using digital marketing especially commercial brokers target the company but forget to target the decision makers behind the company. For example, putting out a poster about haulage insurance and the services you can offer is all well and great, but so are hundreds of other brokers. What you need, is to understand the age, race and other demographics of the Director behind the business in order to give him something he will actually read. What is he more likely to read, an editorial by your business on the latest advances in haulage technology or your poster on haulage policy benefits?

Let your digital marketing be about the person, not the business.

4. Using a one-size- fits all approach

We see a lot of brokers who don’t tailor their messages to suite their target client but rather use a one-size-fits all approach. A good example is a broker who carries out email marketing for his professional indemnity (PI) offering, but rather than segment his book of leads so it is relevant to PI clients, sends the email out to everyone. This can turn off potential clients who don’t need PI and therefore classify the email as spam. As a result, they are less likely to read the broker’s next email.

5. Not having the right compliance information

At the Brokerlink, we understand that compliance is a way of life for our brokers, so we do not ignore it. We find several brokers with websites and marketing material which don’t have the disclosures required by the FCA’s rules. For example does your website have the appropriate disclosures around your regulatory status? Are you meeting the ICOB rules with your marketing? Have you provided clear information regarding the Financial Ombudsman Service on your website?

These are some of the digital marketing challenges we help our brokers meet.

6. Not being patient

Getting prospects to visit your website is a great step, but what do you do after this? Don’t expect them to call you or send you an email for more enquiries. This is where most insurance brokers fall short. Most visitors to your website will not decide to purchase your services after their first visit. HubSpot estimates that 96% of your website visitors are not ready to purchase your policies. How do you make sure that you are in the right place when they are ready to buy from you? Patience is key.

Remember- It typically takes about 6 months to start seeing the benefits of your digital marketing campaign- so plan for the long-term and be consistent.

7. Contacting clients once a year at renewal [Read our Aviva case study]

Clients and prospect relationships must be nurtured if you want to get them to buy your insurance policy. Sending your client one cold email in 12 months is definitely not the way to go. Even if they don’t take out that policy now, start warming them up for the next renewal by helping them find solutions to their problems. You will be top of their list at the next renewal. Read our latest [case study] on Aviva which shows how they increased revenues by 45% through regular contact with clients over a 12 month period.

8. Not using the right content and channels

Knowing your audience is one thing but knowing what to post on which channel is even more important. Your content must address the issues that your clients face on a frequent basis. Tips on “how to reduce your fleet premiums” is more likely to get clients to engage with your business and to buy your policies. Remember- you’re not the only broker emailing them the benefits of your policy.

9. Not having calls to actions (CTAs)

A call to action is a direct instruction to your users to perform a specific task. This could be to sign up to your newsletter or to request a callback. Websites with a call to actions always produce more click-throughs and hence more leads. We find a lot of brokers who can get clients to their website, but then lose the lead because they expect the target to pick up their phone and call them.

10. Not posting at the right times

Posting the right content at the wrong time can be detrimental to your content reaching the right audience. Did you know that if marketing your policies on Facebook on a Friday, Saturday or Sunday will produce the best results? Did you also know that email marketing on a Thursday morning is likely to get you less engagement from potential clients? You must know your target market and when they are active online. Knowing this would help you craft and publish your post at the right time to be seen by many. Check out our infographic on the best times to post.

Print these 10 tips off and use them to guide your digital marketing activities. If you need any help or to speak to someone, simply click here to speak to stuart@thebrokerlink.com or call us on 02071172953

Social media marketing has been a major breakthrough in the digital marketing world with over 3 billion users globally. That means that about 40% of the population of the world is using at least one social media account. But the thing is, that before any social media account can be created an email is required. Email is the mother of all digital marketing and as an insurance broker, it will be a useful tool to getting those policy signups. However many brokers do not know how to capitalize on email marketing to reap the benefits.

Here are a few reasons why with alternative solutions.

1. No Plan

Every strategy requires a plan and if you want to use email marketing to increase your GWPs then you will need a concrete and actionable email marketing plan. This plan will serve as the blueprint for creating and executing your email marketing approach. This will ensure that your audience is receiving the right information from you at the time they need it.

Your email marketing approach will be relevant to your clients and will keep them engaged.

2. General Emails

Don’t be too general in your emails. People like to feel special and unique. Call them by their names within the emails you send out. Personalized emails have a 6X higher open rate than general emails. Also, segment your list to properly segregate your audience based on their stage in your sales cycle. You would like to send newcomers to your mailing list information that will be appropriate for them like testimonials and the value that you can offer them whiles older clients can receive the various policies that you have to offer them.

Keep the emails short but engaging as well.

3. Wrong Audience

Sending the right information to the wrong people can be a real headache. Because you can create a list of clients to send your emails to doesn’t mean that you should just add anyone to the list. Your list should contain your target group, people who are interested in insurance. Filter out the users that do not open your emails consecutively to create a mailing list which has the target audience at heart. Doing this will ensure that your email is received and read by the right people for your business.

4. Lack of professionals

Whether you are sending out emails on a daily, weekly or monthly basis, one thing is certain. You will need a team of professionals to be consistent and engaging. Email is basically communication, and it requires trained professionals in content creation, graphic design, research, communications etc., These professionals will work with a schedule and will keep your emails active.

Brokerlink is equipped with a team that understands the brokerage space and hence can clearly reach and communicate with your target audience. Get in touch today if you want to add a professional touch to your digital marketing approach.

5. Too many emails

Just because you can send an unlimited number of emails to people doesn’t mean you have to. Your clients’ are most likely subscribed to other mailing lists so you wouldn’t want to be a part of the noise. Instead of bombarding their inboxes with too many emails, rather send them timely and structured emails at least once a month. This would cause a drastic change in your email marketing approach.

Let us know if you noticed any other approach that might be useful to insurance brokers.

With the rise in customers turning to the internet for information on insurance policies, digital marketing to an insurance broker should be urgent and vital. Yet finding the time and knowing what to do is the hardest part. Hence, finding the best marketing choice for your business and knowing exactly why and how to navigate that option takes the stress and annoyance from your work. 

Email Marketing has emerged as one of the most useful and smart ways to execute effective marketing and this is why it should be one of your go-to choices as an insurance broker. Here are a few reasons why it should be top of your list.

1. Wider Reach

There are three times more email accounts than there are Facebook and Twitter accounts combined. Meaning…? When you utilise email as your go-to marketing choice, you can reach more people and they are more likely to read their email than to read your posts on social media. 

2. Email Accelerates Your Conversion 

Marketing has one desire, to convert potential customers into actual customers and to drive revenue. You get to achieve this more with the email. Why? Because unlike social media which could be missed, the email actually delivers your message to the right recipient which means they are 45 times more likely to read your message, to get interested and to buy your policy.

3. Has Your Full Control

Unlike social media platforms like Facebook and Twitter which belong to and are controlled by another company who can change algorithms at their will, email is an open communication platform which is controlled by you. Hence, spending the time to build a strong mailing list rather than a huge social media fan base will provide you with a more direct option to reach more recipients with your insurance policies rather than the advertising that occurs on social media.

4. Longevity and Stability

Picture this; email has been around since the 70’s and has only grown stronger and more useful over the years. Unlike social media, which started only a couple of decades ago and is driven by popularity, email has stood the test of time. Remember MySpace? Exactly! For an insurance broker, tools like MailChimp that allow you to create and send nicely branded emails can help increase your GWP. Read our blog on how AVIVA did the same.

5. Inexpensive, Real-Time and Personalized

Three words that spell gold for any marketer. Emails cost significantly less than traditional mailing and social media advertising combined, yet brings you more benefits than these two could together. Moreover, you get the added advantage of skipping the amount of time it takes to traditionally mail an advert to your recipient and get personalized messages to your recipient in a matter of minutes. This is likely to bring you more results than the one-size-fits-all messages that other platforms like the radio, television and even social media presents. With email, you can sort out your recipient list by preference, location, career etc. People respond better to things when they relate to them personally.

So there you have it, 5 solid reasons for you as an insurance broker to swoop down on email marketing as the go-to choice in your marketing endeavour.

So why don’t you go ahead and build your email list because you can rest assured that it will be a credible long term investment that will keep bringing you results for many years to come. Get in touch with our experts who understand the broker market and can talk you through how to achieve through email marketing.

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:

1. £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.

2. 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.

3. 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.

4. 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.

5. 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.

• 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.