4/5 of these reasons are beyond control. The good news is EVERY agent will have to deal with the same 4 out of 5. The better news is that 1/5 of these reasons is well within control.
The million dollar question:
If you know the majority of your customers are using the Internet to shop, buy, and save on insurance, what is your strategy to maximize this opportunity?
The bottom line:
You have to FISH WHERE THE FISH ARE. If 85% of consumers are shopping on the Internet, wouldn't it make sense to spend 85% of your marketing resources on Internet-related campaigns?
The problem:
Most agencies lack the knowledge and understanding to put together a comprehensive Internet-based marketing plan. It makes sense. Effective Internet and email marketing requires years of experience based on millions of dollars in research and development. Agents would prefer to focus on what they understand and basic traditional and word-of-mouth advertising. Despite the decreasing returns, agents continue to hope that the market will turn and customers will return to the old way of choosing an insurance provider.
The solution:
Astonish Results has created the greatest digital marketing system for independent insurance agents. This system is designed to help independent agents FIND, SELL, and KEEP more customers profitably. Through advanced technology and marketing expertise, Astonish users can offer their customers a new way to SHOP, BUY, and SAVE on insurance.
Finally, agents can offer a service platform consistent with the expectations of their customers.
This system has helped some independent agents increase their book of business by more than 230% in less than 6 months.
Astonish and their clients have a saying: "We refuse to participate in the recession."
If you prefer NOT to join in the looming recession, contact Astonish Results immediately to schedule a FREE online demonstration of the future of the insurance industry.
All of us at one time or another have heard references to the concept of "drafting," usually in the context of NASCAR racing.
The best independent e-agents are learning to employ the same tactics to find and sell more customers on the Internet.
Drafting defined: When a car travels through the air it leaves a gap behind it. Another car driving in this gap doesn't have as much air resistance pushing on it's nose and can then travel faster or use less fuel to travel the same speed.
Example: My car was slower than a turtle, but once I got in the draft I was able to keep up.
How are independent e-gents taking advantage of this concept?
Simple. Consider the amount of advertising dollars spent each year by companies like Progressive, GEICO and Esurance. What are the majority of these ads telling people to do?
Call or click. Call or click. Call or click.
This presents an incredible opportunity for independent agents to DRAFT off these marketing dollars and capture market share from consumers who are being driven to the web.
In order to do this agents must have a clearly defined online marketing strategy that includes search engine optimization, an easy to navigate and highly interactive website, and automated follow up marketing.
Example: Our agency web site has not generated a lead in five years but once we got in the draft we were able to write an extra 10 policies per week.
The choice is simple, either you can continue to ride along in the slow lane or you can TURBO CHARGE your RESULTS by drafting off the marketing dollars of the largest direct writers in the country. It's the biggest NO-BRAINER in the history of the EARTH.
The Great News:
Astonish Results has developed a complete Digital Marketing System that has combined the right technology, training, and tools to FIND, SELL, and KEEP more customers profitably.
Watch for our upcoming Insurance Journal VIDEO SERIES, Serving the Modern Consumer, and schedule a FREE Virtual Presentation today!
If you're looking to grow your agency and protect your book by tapping into the increasing number of people using the Internet to find an insurance provider, you must have a complete strategy. Just having a website is not going to be enough.
1. The Right Vision
It all begins with your vision. If your desire is to expand and grow your Internet presence, this vision needs to be clearly communicated to everyone in the agency. Your team needs to be on board, and goals must be clearly communicated. I've sat in many business consulting sessions where the key team members were not on the same page. If you don't have a clear vision of where you want your company to go, chances are you won't get there. You must take the time to articulate this vision to your entire company.
2. The Right (Wrong) Website
Another key element to a winning Internet marketing strategy is your website. A website alone will never generate results - only a Virtual Insurance Office can successfully drive results.
Your VIO should become a marketing center for your business, and should convert visitors into sales opportunities. Your VIO must to have the following elements to be effective:
3. The Right Marketing
If you don't have a strategy to drive traffic to your website, there's no reason to have one. You need to generate more traffic using search engine optimization and automated email marketing campaigns.
4. The Right People and Processes
To generate real results: the right vision, VIO, and search marketing must be supported by the right people and process for managing leads, taking applications, and closing more policies. Make it easier to bring new people up to speed by documenting your process for handling leads, and map out every step for turning leads into more policies.
5. The Right Metrics
The final key to success is to track everything. You must monitor the number of leads by source, response rate and time, number of applications, application percentage, closing percentage, and cost per lead. This information helps you determine what's working, what's not, and when it's time to make an adjustment. One of the best parts about the Internet is that everything is measurable.
Fortunately, Astonish Results has developed a complete Digital Marketing System that has combined the right technology, training, and tools to FIND, SELL, and KEEP more customers profitably.
Watch for our upcoming VIDEO SERIES, Serving the Modern Consumer, and schedule a free Virtual Presentation today!
As we close out 2008, now is the time to plan for 2009. Most successful insurance agents agree that the Internet will play a major role in how customers research and select an insurance provider in 2009. According to a recent study by the Association of Independent Insurance Agents, 85% of all new insurance customers will start their search on the Internet. The question is: how will you maximize this opportunity?
Historically, insurance companies have relied primarily on word of mouth and limited advertising to grow their business. Some insurance companies have tried but failed to take advantage of the opportunity offered by the Internet. This is due to a lack of a clearly defined Internet marketing strategy. At Astonish Results, we’ve found several key components must be present in order for the modern insurance agency to be truly successful in this lucrative market.
* A simple-to-use, highly interactive website that highlights your products and builds value in your brand rather than selling price, converting unique visitors into leads.
* A clear vision and commitment which is communicated from top management.
* FOCUS. If 85% of customers are searching on the web, are you committing 85% of your focus on capturing them?
* The right marketing to drive traffic to the site online and offline, including the use of search engines, email marketing, and placement of your URL.
* Promote all your products and generate more leads for the phone and Internet departments.
* The right process to turn leads into applications and sales. The key to the process is how well people use the phone and email to sell the application and follow-up.
* The right people having great sales, phone, and follow-up skills. It’s easier to teach good salespeople technology than to teach technology people to be good salespeople.
* The right metrics. The best insurance companies measure their peoples’ performance daily and weekly rather than at the end of the month, when it’s 29 days too late to change the results.
* The right tools. Tools are available that can automate a large part of the process which allows an insurance company time to advise more customers and grow their book of business without increasing personnel costs. These tools also automatically send reports to management to alert them when certain tasks are not completed.
* Execution. The fact is that most people do not fail because of a deficiency of knowledge; it’s typically because of a deficiency of execution.
2009 is just around the corner. Shifting consumer behavior will require the best agencies to adjust their marketing strategy to meet the growing demand of Internet customers. Will your competitors meet this demand head-on, will you spend another year talking about how the Internet has adversely affected your business?
Hope is not a strategy, and thinking about a problem is not an effective plan.
Call Astonish Results today and learn how you can become one of the growing number of modern e-agencies who have adjusted their strategy and dominated their market. 2009 could be a very big year for your agency!
Mass Auto Reform Great for Consumers
Simple Guide to Understanding The New Rate System
by Stefany Johnson
Great news- For the first time in 30 years Mass motorists will be able to shop around for the best price and coverages.
How is this different from the old system?
Currently Massachusetts drivers can purchase their car insurance from any state licensed insurer. The rates you pay for insurance are regulated by the state, not the individual insurance companies. Under this system all auto insurers must share the losses associated with high risk drivers who in turn increase the cost of state mandated rates.
The Mass legislature is in the process of creating a competitive auto insurance marketplace
What does that mean to you?
Effective April 1st means insurance consumers can and should compare quotes from different agents. This may require a little homework but it will be well worth the effort. The key for consumers will be to get in the game and start asking questions of their agents. Even with the reform, MA consumers must initiate the discussion with either their existing or a new agent.
How do you accurately compare quotes?
Start by assuming not all policies are created equal. You must do an apples to apples comparison. Ask your agent if you qualify for any special discounts or rewards programs. Consider the benefits of placing your homeowners and auto insurance with the same agency. Make sure the quotes you receive have matching coverage and the same deductibles.
What is the first step?
Call an agent you trust with an established track record and access to more than one or two carriers. Write out a list of questions for the agent. He/ she will need some basic information from you including your MA drivers license number.
What's the biggest mistake you could make?
Doing nothing. No one is going to hand you a few hundred dollars a year unless you ask for it. Be proactive, get off the sidelines and take advantage of this opportunity. It took 30 years to reform.
Next steps:
I recommed choosing an agent who is a member of SIAA. This group seems to have the most choices and best coverages. I have heard good things about the Paul Murphy Agency. You can visit their site @paulmurphyinsurance.com. I know he has a few thousand clients and zero complaints.
Astonish Results is a digital marketing company that provides independent insurance agents with a full service digital marketing system to help them FIND, SELL, and KEEP more customers profitably.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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