18 Insurance Agent Marketing Strategies

Fran Majidi April 11, 2023
marketing strategies for insurance

If you need to write some new business but are hitting a wall, we’re here to help you get out of the rut and write some new insurance policies. Our insurance marketing strategies work if you apply them consistently and enthusiastically. Make sure you go through and employ at least a few of these ideas if you want to see an improvement in sales. We’re here to help you grow your business. Our account executives are always on hand if you need help shaping your leads strategies.

1. Buy Leads

Most agents buy insurance leads, especially insurance agents who’d rather have all the marketing work done for them by the insurance lead generation companies. Basically, you can spend money taking the steps detailed below to grow your insurance business or you can buy leads and spend nothing on marketing, which is a heavier cost. You also have the option of doing both, which is ideal. But yes, buying insurance leads allows you to skip the painstaking work of networking and creating advertisements. Don’t expect to close all the leads you buy, however, but do call them ASAP if you hope to compete with other agents.

2. Get on the Air

There are a couple of tiers of demographics that you can target with radio ads. Not only is there the option of radio stations but millennials are mostly listening to Pandora and Spotify, where they create stations based on their preferences. Pandora and Spotify also feature little or no advertising. The free versions have radio spots, which often air car and insurance ads. Both Pandora/Spotify and radio offer 30 or 60 second spots. As short as that may sound, it’s actually a proven way of capturing a captive audience. Think about it: When are people usually listening to the radio? In their cars, often while alone and without many distractions. That’s why these spots work. Another more affordable option is the local college radio station(s), which attract much more than college students. Often these stations have a cult following and what’s more: they cost much less than bigger stations. If you think no one’s listening, it’s not true. In fact, 95% of Americans tune in. While it’s not as expensive as television advertising, doing a professional spot does have its cost. First, you’ll want the best sound quality which will cost you a few hundred or thousands of dollars. The advertising spot will cost you anywhere between $2 and $500, depending on the listenship’s volume. You may even be able to get a show host to read a script or notes written by you. Many larger agencies hire an advertising agency to do the work for them, but that all depends on your budget. Whatever you do, make sure you have crisp, clean sound. Don’t try to save on production value. For more information on how to create an ad and write a script yourself, visit here.

3. Advertise in Print

Advertising in a big newspaper may not fit your budget but what about local papers or niche publications and magazines? Also, keep in mind that both newspapers and magazines usually have online versions where you can probably get a better rate for an ad. Avoid the typical insurance agent headshot ad and really pull people in with whatever message you’re trying to send. Advertorials are also a great option. An advertorial is part editorial and part advertisement. Everyone wants to be written about but this may be the only way to get the job done. You can interview yourself or just write about your agency and it’ll seem as if it’s a legitimate article! For more on print advertising, visit here.

4. Hit the Gas Station

You now have the option of a poster-style ad near the pump or an audio advertisement, which has become a popular way to advetise. These audio ads play while drivers are pumping gas. Again, you have a captive audience of drivers. It just doesn’t get any better than this.

5. Call Your Local Theater

The movie theaters in your community rely on local businesses and can help you create a great ad. Again, the whole point is to get your ad seen and heard by a captive audience that is undistracted. Yes, you can be the focus of attention while people settle in and eat popcorn waiting for the movie to begin!

6. Get into Gyms and Yoga Studios

You might consider contacting all the local gyms and yoga/Pilates studios in your community to ask about advertising and sponsorship opportunities. Some larger gyms that are part of a chain may have advertising option on their screens! This may not be the cheapest way to advertise but you’ll again have a captive audience on the treadmills and stationary bikes.

7. Start Telemarketing

There are many restrictions now on cold-calls, according to the Telephone Consumer Protection Act (TCPA), but if people are not on the Do Not Call list and you call within business hours, you can telemarket your heart out! If you run an agency, it’s not advised that you hire someone to do this full-time but rather to spread the lists amongst employees so they don’t suffer cold-call burnout. For more on what insurance agents should know about TCPA compliance, visit here.

8. Advertise on Billboards and at Bus Stops

Although the rate of return on billboards is very small, this is still an option that works for some people. Remember that words need to be sparse and bold to get people to look up while driving. Bus stops are another option. It’s up to you to decide if someone using public transportation needs car insurance. Chances are high that they need an SR22 in order to drive.

9. Start Networking

Make it a point to go to as many meetups as possible. Take part in activities you find enjoyable while benefiting from the opportunity to meet new people. Being social and meeting new people regularly are two requisites if you want to keep selling to new clients. The need to generate new sales each month never ends, not if you plan to do this your whole life. Finding ways to get out there, even starting your own meetup are highly advised.

10. Attend Open Houses

If you get a homeowners insurance lead, it’s likely a car insurance lead too. So, attend open houses and place your business cards in a visible spot. Linger and meet people who are actively shopping for a home and will need homeowners insurance very soon. Explain to them that often new homeowners end up with their policy through the lienholder who’s not terribly concerned with saving them money. Once you sell that prospect a home insurance policy, you can get them to switch auto insurers by bundling for a discount.

11. Blog, Use Social Media and Do Paid Search

While the Internet is oversaturated with content, it doesn’t hurt for you to jump in the game. You’ll probably carve out an edge on your competition. At the very least if a potential client searches for you on the Internet, they’ll see a very professional product. The best way to go about blogging is to anticipate what kinds of Google searches people will conduct. As you can imagine, “cheap car insurance” or “how do I find cheap auto insurance?” get many clicks. Use your blog articles to generate “likes” on a Facebook business page that is easy enough to create. Also, utilize your posts on Twitter, LinkedIn and even Pinterest. The more effort you make with your social media and blogging presence the better. Another way of getting active car insurance shoppers to your website is to create Google Ads and bid on the keywords you anticipate they’ll use. Not only will your blogs bring shoppers to you, your online ads will too! Be patient and blog consistently for this to work for you.

12. Direct Mail

Expect to spend some money at first until the calls start streaming in. Everyone is on the Internet these days, so this could be one simple way to stand out from the crowd. Message your prospects with colorful postcards. Let people know that you offer $50 gift cards for referrals, which should be enticing enough if the person was already considering switching carriers.

13. Email Marketing

Keep your text minimal. This is not a long blog article and every word counts so use your words sparingly, making sure to stay consistent with messaging that reflects your brand and what you want to say to the world. Pay particular attention to your subject line and preview text, which are what the reader sees first. If you blow it with these two important elements you risk not having your email opened at all. Also, you only want to send a few emails a month so make them matter. Make sure to upsell and cross-sell insurance products your clients should know are available to them. Remind your clients here about the $50 gift cards for each referral.

14. Influencer Marketing

Find an industry leader or someone who is prominent in your community. For someone selling health insurance, it may be a doctor. For someone selling auto, it may be the local mechanic with many clients. Or, if its homeowners insurance, you can get a popular real estate agent to help you. Ideally, the person you get to help you will have a strong following on social media (or real life). Basically, you’ll either have to pay this person or do some sort of service in return for championing you as an insurance agent of their choice.

15. Use Discount Code Websites

People check discount code websites regularly and it’s a great way to get a backlink to your website and bring you in front of people you may otherwise never meet. You can even appear alongside well-established companies.

16. Make Friends with Real Estate Agents and Leasing Agents

The easiest way to get clients is to go to all the apartment complexes in your vicinity with many, many business cards. Convince the leasing agent to give your information to tenants when they suggest buying renters insurance. Also, real estate agents can easily become the gateway to many home insurance sales.

17. Referrals

Some agents make a whole career out of referrals. You can take a couple of hours a day to check in with every client in you book of business to remind them about the $50 gift card they’ll get if their referral gives their name before signing on with you. Chances are that your clients are happy with the service you’ve been providing so far and won’t mind an Amazon gift card for telling their friends and family about you.

18. Become a Member of the Chamber of Commerce

New businesses pop up every week, and there’s lots of business insurance to sell. That’s why there’s no better reason than to become a member. The Chamber of commerce is there to promote the business community in your area. They offer advertising and networking opportunities to members. There is an annual fee but then every other opportunity offered is free so it’s definitely worth it if you’re serious about selling commercial insurance.