Shelby Harris, Smart Choice® Intern
What Is the Purpose of Marketing?
As the newest intern member of the Smart Choice ® Marketing team, I found this question repeatedly popping into my head. And the answer is because it increases brand awareness!
As an Insurance Agency Owner, Why Should You Care About Brand Awareness?
Well, to be honest, the ultimate goal of marketing is brand awareness. In the end, all strategy and marketing techniques strive for a return on investment yielded through brand awareness. You want those in your community to know your agency exists and that you can help them. In addition to increasing brand awareness, marketing also informs consumers, builds and nurtures clientele relationships, and draws in a targeted audience.
From my experience, I would say the three most important forms of marketing you should consider for your agency are that of video marketing, community engagement, and social media.
Video Marketing for Independent Insurance Agents
Video marketing is the single most important type of marketing strategy there is today. The fact is, most people are visual learners. And with the combination of voice, text, and imagery, it is much more engaging than text alone. In addition, video content promotes brand recall. According to HubSpot, 80% of customers remember a video they’ve watched in the last month. Even more impressively, digital marketing expert James McQuivey estimates that a single minute of video content is the equivalent of 1.8 million words. As stated by Larry Alton, member of a Purch Group, 1.8 million words in a blog post would take approximately 3600 pages. Showcasing that a simple video does more work in fraction of the time.
That’s why for agency owners, video marketing is a crucial strategy for attracting, engaging, and retaining clients. In today’s impersonal digital world, it makes sense that we’re craving connection and personality. Video is the best way to share with your audience a real glimpse of what you, your business, and your clients are doing. It’s time to give your audience the opportunity to see and hear people in a real-life context makes your message more meaningful.
Finding Your Agency's Purpose and Meaning
Modern day consumers expect more of their agencies. Not only do they demand top-notch services, they also call for their businesses to carry purpose, meaning, and to make a positive impact. The benefits of community involvement for businesses are real. From networking opportunities, access to additional information and resources, cultivation of respect, a positive reputation within the community, to skill enhancement, a sense of contribution and helpfulness in solving community problems…community engagement is a powerful tool for marketing your business. The best part is: kindness is free and is effective. Helping others is one of the best ways to become known in the community. According to Forbes Human Resources Council, roughly 82 percent of U.S. consumers consider corporate social responsibility when deciding what services and products to buy and from where. This statistic alone demonstrates the significance of community engagement in the average consumers eyes.
Social Media Marketing and Insurance Agencies
Social media has quickly become another one of the most important forms of marketing. The best, most obvious reason being, because it is the easiest way to reach millions of consumers worldwide. Not only this, but it is the most cost-effective form of marketing. “71 percent of consumers who have had a good social media service experience are likely to recommend it to others” (Ambassador). Use your social media and digital marketing to increase brand engagement and win new customers.
If you’re not using these three marketing tools, you are missing out on an incredible marketing opportunity. Brand awareness drives consumers’ decisions when deciding between competing companies, and it encourages repeat purchases.
Forget postcard mailings, costly advertisements, and all of the traditional methods of marketing you’ve used until now. You don’t need them anymore! Marketing your agency to attract new business has never been easier than it is in 2018. Why? Check out 2018 Issue 4 of Smart Choice Magazine for reasons why marketing your agency for growth is easier than ever — and how you can do it.