Marketing Strategy · Marketing

What unique methods are there to connect with insurance agents/agencies?

Scott Taylor Sales & Marketing Director at Cloudia Assistant / Author: The Opportunity in Every Problem

June 6th, 2016

We offer an excellent CRM for insurance agents/agencies but they've never heard of us because we do not have  a marketing budget and we are running everything in the black so we need to keep the marketing basically nill. I create several articles and posts in Linkedin and that has been our only connection to the outside other than a couple of trade shows per year. Any ideas of other options?

Nathaniel Peniston Sales & Marketing Executive

June 6th, 2016

I would be happy to discuss this with you, please feel free to call or email. At a high level, some ideas are as follows:

1. There are many "aggregators" in the insurance business (general agents (GA) / managing general agents (MGA), managing general underwriters (MGU), third-party-administrators (TPA), etc. that may be interested in your products.
2. As Keith suggested, co-marketing, including co-branded partnerships are excellent.
3. A lot can be done under a "gorilla marketing" budget, PR, events, etc. but there needs to be a budget. You may need to raise capital to expand and understanding your gross margins, lifetime client value, etc. will all be critical.
4. Affiliate marketing, where you pay on a per lead or closed sale can put the burden of close ratio onto the marketer. If it is a cash-flow issue (as opposed to a margin issue) this may be the way to go.

Mark Jacobs Chief Executive Officer at Me!Box Media Inc.

June 6th, 2016

Scott - we work with a number of very successful agencies and get to see how they buy, deploy and manage their infrastructure systems.  The number one and two issues they all share is growing their client base and managing for retention/client loyalty.  If your system can solve these issues without making the agents feel unsure of themselves during implementation/stabilized use you have a unique offering...and we'd like to talk to you.

Keith Ginsberg Consultant for Small to Mid-Sized Technology, Services, Healthcare and Non-Profit. Adept at Growth and Cost Containment.

June 6th, 2016

I would like to suggest that you find people who are also selling into that space and develop business alliances.

Irwin Stein Very experienced (40 years) corporate,securities and real estate attorney.

June 6th, 2016

Scott: it is a pet peeve of mine that small business has a need for marketing but no budget. You can usually put the cost on your credit card. For the cost of a couple of trade shows a year, you can buy e-mail lists of insurance agents and send them an article a month. I get e-mails from a PR agency daily.

Charlie Downey President & CEO at Downey Insurance Agency, Inc.

June 15th, 2016

we sell into, and ARE, an Insurance agency. see Nationalinsgrp.com &   downeyinsurance.com  sales trainers product providers solutions central.

Frank Pagano President of Investment Banking at CapitalFix

June 7th, 2016

See below Frank Pagano CEO CapitalFix 244 Fifth Ave Suite P258 New York ,NY 10001 888-493-8411 (office) Mobile 732-804-6128 Fpagano@capitalfix.co franco24@aol.com (pers email) http://capitalfix.co https://www.linkedin.com/pub/frank-pagano/1/838/739 [cid:306290D6-5049-4440-87A1-60FBB564E43F]

Andrew Lockley

June 6th, 2016

Go to an accelerator like startup bootcamp London which is insurance specific or go to an insurance hackathon

Frank Pagano President of Investment Banking at CapitalFix

June 7th, 2016

Offer referral fees for people that bring you clients Frank Pagano CEO CapitalFix 244 Fifth Ave Suite P258 New York ,NY 10001 888-493-8411 (office) Mobile 732-804-6128 Fpagano@capitalfix.co franco24@aol.com (pers email) http://capitalfix.co https://www.linkedin.com/pub/frank-pagano/1/838/739 [cid:306290D6-5049-4440-87A1-60FBB564E43F]

Anonymous

June 6th, 2016

You would be surprised how many insurance companies still have old legacy systems and outdated techniques for client management. If marketing dollars are non-existent, and you should be doing this regardless, reach out directly to the insurance companies. Find people you know that can get you an introduction to the sales & operations leaders - for a test drive and the what's in for me the customer - who is the agent. Many tenure agents have their own systematic system, while archaic works for them. The sell must be convincing - for retention a better way to stay on top of their clients and relationships while freeing up their time for acquisition. Much luck to you!

Scott Taylor Sales & Marketing Director at Cloudia Assistant / Author: The Opportunity in Every Problem

June 7th, 2016

Thanks again to Andrea and Frank for your comments. Andrea, our CRM is great at maintaining retention and does a lot of work for the agents they wouldn't have to do themselves. In 2006 the company I worked for had over 5000 agents and their #1 sold a little over $440,000 for the year. Our Cloudia Assistant was still being developed then but in 2008 the developer of our product put it to work and sold over $3,000,000 that year. It was because he got rid of all the time consuming facets of insurance sales, dramatically improved retention and had a system to stay continually in contact with prospects and clients. 

Frank, we do offer not only referral fees but a residual income for referrals but few people know about it. Sorry all your contact details were removed by FD.