“Independent Agencies are a dying breed“… This is a common idea held among many successful individuals in the insurance industry. They have been predicting that independent agents would go down the same path as travel agents for years. Philosophically speaking, the vast majority of individuals do not want to be bothered by insurance. It is a necessary evil, and the less it’s on their mind the better.
There are two ends of the spectrum that rely heavily on Independent Agents, though, and that’s why Independent Agents are not going anywhere for the foreseeable future. First, there are people who need insurance and struggle to find it through traditional markets. Whether it is due to age, accidents, losses, etc., Independent Agents typically represent enough markets to help those individuals. On the other end of the spectrum, there are those with high net worth and businesses they’re looking to protect. Independent Agents usually have access to carriers which offer more comprehensive policies than the direct(Geico, Progressive, etc.) or captive(Allstate, State Farm, Nationwide) companies.
These two groups make up the minority, though. In order to be able to compete with everyone else, Independent Agents need to be front and center when a triggering event occurs. Due to the vast amount of insurance marketing people see on a day-to-day basis their filters are up most of the time. Again, it is something they simply do not want to be bothered by. However, an event such as a bad claims experience or an uncomfortable rate increase can cause the average person to look elsewhere. Unlike the other two groups, they aren’t necessarily going to go searching. This is where a strong social media presence either makes or breaks Independent Agencies of the future.
Referrals, referrals, referrals!! Social media is not about cold leads. If it’s built that way, an Independent Agency will turn away more people than it will attract. An agency is most successful when it builds off its inner circle of friends, family, and customers. From there, ask those closest to you to refer others. Ask for testimonials. If they are satisfied with your work they will help put your name out there.
Having your name out there will help when it comes to those who are searching for insurance. However, the key to generating leads from those who do not want to be bothered is to be patient. Having your name in front of them is a great first step. Giving them quality, interesting, and most importantly, amusing information can help solidify a relationship.
I will get into more detail regarding the different social media platforms. I will touch on branding, website design, and other helpful marketing tips that will translate to most industries. Stay Tuned!
Thanks!
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