3 Fundamental Components of Your Insurance Marketing Strategy

When it comes to developing their marketing strategy, many insurance providers don’t know where to start. Even though they’re confident in the quality of their service, they struggle to clearly communicate their expertise with prospects.

By building your marketing strategy on strong foundations, you can develop highly targeted promotional efforts that are consistent and effective. With members across all organisational levels working towards a shared vision, you will have the ability to drive more relevant leads faster.

Challenges Faced by Those in the Insurance Sector

Insurance providers often encounter difficulty when trying to differentiate their brand and offering from that of competitors. In many instances, your target audience won’t have a strong understanding of the technical elements of your product. Thus, they may struggle to identify how it’s any different to the next, let alone better.

When dealing with insurers, consumers want a seamless, streamlined experience that’s personalised to their individual needs. If prospects are left waiting for an extended period of time, are supplied confusing information, or don’t feel like a valued client, they’ll likely look elsewhere.

A contributing factor to this barrier is the fact that insurance is, of course, an intangible product. Often, individuals find it difficult to invest in an offering that doesn’t give them immediate or guaranteed benefits, fulfilment or enjoyment. Thus, you need to market your product in a way that reassures prospects of its value. For many consumers, the peace of mind and financial security that comes with insurance can be invaluable. When constructing your insurance marketing strategy, this is a key proposition you may choose to focus on.

With insurance marketing, you can gain an enhanced perception of your ideal audience and their distinct expectations. By leveraging this information, your company can create targeted marketing campaigns that leave a lasting impact and further refine your existing products and services.

Marketing can, in this way, be an incredibly powerful way for insurers to overcome the unique challenges of the sector, grow their business and achieve continued organisational success.

1. Launch a Brilliant Website

Whether you’re yet to build a website or you have an online domain that needs updating, the sooner you take action, the sooner you’ll start seeing results.

When designing your website, finding the ideal balance between aesthetically pleasing visuals and functionality is crucial. In addition to this, while your design may look fantastic on desktops, if it isn’t compatible with mobile devices, you may lose interest from a significant portion of your target audience.

More than 50% of searches for insurance happen on mobile devices.”

It’s not uncommon for individuals to go overboard when adding features to their website. While they may seem exciting, an excessive number of pop-ups, moving sections and the like can overwhelm and disengage prospects.

Ultimately, when building your website, if you ensure it’s fast, secure and mobile-friendly, you’ll be setting yourself up to achieve the best results.

2. Leverage Email Marketing

Email marketing can be an incredibly effective way for insurance providers to not only nurture prospects, but also to stay in touch with existing clients.

By sending a monthly newsletter, you can keep contacts informed and share value-driven content that directly applies to them. This can, in turn, assist you in maintaining an ongoing relationship with recipients, all the while staying relevant in the client’s mind.

Your email marketing campaigns can be highly targeted and personalised and, often, this is achieved without the need for a substantial financial investment. In fact, for every $1 spent on email marketing, businesses achieve an average return of $32. As such, this approach can be a cost-effective way to keep your contacts informed and engaged.

3. Create & Share Marketing Collateral

As mentioned previously, prospects aren’t always going to have a comprehensive understanding of the different insurance products that are available to them.

When it comes to deciding which policy is right for them, they may be incredibly doubtful as to whether they’re making the right choice. However, by providing potential clients with insightful, informative resources, in the form of marketing collateral, you can overcome this hurdle.

There are numerous types of marketing collateral and, while you certainly don’t have to use them all, integrating multiple materials can help keep your resources exciting and engaging.

For instance, you may start by adding a blog to your website and contributing to it regularly. But, as time goes on, you can build on this collateral with:

  • eBooks
  • Case studies
  • Testimonials
  • Product catalogues
  • Brochures
  • Infographics
  • Monthly Newsletters

Want to build an exceptional insurance marketing strategy? Get in touch with the Lead Agency today. With extensive experience in the insurance sector, our marketing consultants know the industry and can help your business drive more valuable leads.