One of my agents recently wrote a policy for a chiropractor’s office. He was introduced to the chiropractor through a client who had done business with him for years. He met with the chiropractor to learn about the doctor’s particular needs. In the process, he learned about the insurance needs of chiropractors generally. After quoting this business, my agent discovered a particular carrier was very competitive in this industry. This gave him a big idea that turned into some very big business.
After closing the deal with chiropractor, the agent created a process for marketing to all the chiropractors in his area. I helped him order a list of chiropractors by ZIP code, while he created a direct mail piece that featured the coverage every chiropractor needs and how his agency could help. The letter positioned the agent as the local expert in insuring chiropractic offices.
Once he mailed the letter, he waited four days before he began a calling campaign. He shared key coverages and listened to his prospects as they told him about the fears they have when looking for the best coverage. Then, he took the time to answer the chiropractors’ insurance questions, from workers’ compensation to liability coverage.
After each policy he wrote, he asked his new chiropractor clients for referrals to other offices. To his amazement, he found this group of medical providers were a close-knit group. After 18 months, he had written policies for 37 chiropractors!
I love this story so much that I often use it in conversations with other agents who are struggling to market their own agencies. It highlights the three major factors that make or break any insurance sale: product knowledge, relationships, and process.
Common Coverage for Chiropractors
- Excess liability
- General liability
- Malpractice coverage
- Professional liability
- Property coverage
- Workers’ compensation
1. Your Product Knowledge
Before he put his plan into action, my agent took the time to learn about the specific insurance needs of chiropractors and chiropractic offices. Then, he researched the type of coverage each of his carriers offered. It was only after he was armed with this product know-how that he could quote coverage that would adequately protect his new clients.
Before executing any marketing process, you need to know your target market and the products that serve that market. This requires some legwork on your part, from interviewing prospects as my agent did to developing relationships with your underwriters. Become an expert in their specific products so you know where to go when it’s time to prepare a quote.
2. Your Relationship with Your Clients and Prospects
You have two ears and one mouth. Use them proportionately. This adage is at the heart of any successful marketing plan. You need to invest the time into developing relationships with your clients and prospects. Learn as much as you can about whom you’re targeting and when you meet with them, listen to them. Identify their fears and challenges and help them understand how you can help. Once you’ve built trust, you can ask for referrals, just as my agent did.
3. Your Marketing Process
An effective marketing process is the third factor that will make or break your marketing success. Invest time into creating production goals for your agency and a process for meeting them. I help my agents focus their marketing processes on specific audiences and choose marketing strategies to connect with them, from direct mail and cold calling to eNewsletters and social media. Every process involves asking current clients and even prospects for referrals. When my agent delivered the chiropractor’s policy, he used the meeting as an opportunity to reiterate why it was a good decision to write the business with him and ask for a referral to another chiropractic office.
Once your marketing process is in place, it’s up to you agents to follow through. This is often the hardest step of all. If you struggle with follow through, reach out to your state director. We’re here to help you grow your agency and are happy to support you.
Your marketing process is a big factor in growing your agency’s income, but becoming an expert in your products and building relationships with your clients are just as important. Ask for referrals when you place a policy and know the difference between online lead development and the good, old-fashioned hard work of building relationships and delivering great customer service.
The Smart Choice Guide to Marketing
So how do you compete in a market that’s so oversaturated in marketing messages? Work smart, and use what you have. First and foremost, one of the biggest focuses of marketing – something that hasn’t changed since the industry’s inception – is how visible you are to potential customers. The 2017 Marketing Issue of the Smart Choice Magazine focuses on ways to develop effective marketing strategies so you can work smarter and grow your agency.