Selling commercial insurance may not seem as glamorous as some other niches online. But that doesn’t mean your business can’t harness the power and reach of the internet to attract more buyers and reach your sales goals. With these eight tips, you’ll be equipped to begin driving more interest toward your policies and building a strong pool of leads that will help you generate more revenue.
1- Connect With Decision-Makers
Avoid marketing to businesses without knowing who is in charge of buying insurance coverage. Many companies cold-call the wrong employees, which not only looks generic but ultimately wastes time and resources.
Research companies that you want to market to, and learn more about their hierarchy. Consider past interactions with current customers. Who was the figure that made the final decision? Whether it was the HR manager or founder, keep these figures top of mind while you consider who you will market your policies to.
When you cold call, make sure that you’re sending emails to the right person in any business. And when you post online, ensure that your ads and content are designed to speak directly to the person in charge of managing their business’s insurance.
2- Niche Down Your Marketing
What type of commercial insurance do you offer? Whether it’s general liability, property, or automotive, think about what niches you want to sell in. For example, a commercial insurance company can personalize various marketing strategies for different sectors, like delivery, food service, retail, healthcare, and construction.
Whatever industry or industries you serve, make sure that you’re customizing your advertisements and marketing material to reflect the unique needs, values, and wants of those customers.
3- Focus on Cost-Benefit Analyses
Many businesses see insurance as a necessary but costly expense. This can stop them from being as engaged as insurance companies would like. To maximize your chances of capturing attention and leads, focus on a CBA from your ideal clients’ perspective.
What about your insurance would make it worth the price? Why does spending money on a policy with add-ons ultimately deliver more value than going with the baseline mandatory limits?
With this mindset, you can create more engaging insurance marketing strategies that show prospective clients the real value of your policies. Plus, taking the time to understand their own thoughts about the cost and trade-off of buying insurance can help make your business seem more relatable and trustworthy.
4- Highlight Features Over Risks
Whenever you market to clients, avoid scare tactics or trying to highlight their risks of being uninsured. Instead, show them what they can gain by buying a commercial insurance policy from your business.
5- Use Social Media Wisely
When it comes to social media, consider your audience. Where are they most likely to interact with insurance companies? How do they look up information about commercial insurance? You might find that in some cases, LinkedIn works best, while other companies generate leads talking about commercial insurance on TikTok.
6- Build Brand Authority
Content is essential to make your insurance company stand out and appear legitimate to prospective clients. When they research your company, ensure that you have a strong online presence. Optimize your website with a research hub full of helpful guides, FAQs, and insurance information.
7- Set KPIs
KPIs are key performance indicators that help you measure the performance of your marketing efforts. These can include a number of clicks in a month, a new follower count, email sign-ups, information requests, and more. Set metrics that are easy to track, and revisit them every 30 days to tweak your advertising strategy as needed.
8- Capture Leads With High-Value Content
Create content that your audience would be interested in, then offer it in exchange for their email. For example, you could host a webinar covering the essentials of commercial liability coverage to entrepreneurs, then advertise it on LinkedIn and Facebook. To sign up for a free spot, viewers would simply need to sign up for your mailing list.