Using email marketing to grow your insurance business.

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So you’ve been working hard building the client base of your insurance agency for decades now.  You’ve built a solid reputation in the community and things are good…mostly.  But as you stare out your office window on one of those rainy Mondays you begin to wonder if you will always have to push so hard to continue to hold on to what you have.  If only you could find more customers like the ones you have now, some of which have been with you for decades.

So how do you find well qualified prospects that are interested in becoming one of your customers?

Well first, let’s define “well qualified”.  I would say in this scenario that well qualified would be an individual who has a need for a product or service you offer, is willing to purchase that product or service from your company and has the financial resources to do so.

But let’s add one more qualification.  Someone who is already doing business with your agency.  Wait, what?  I mean what could be a more tailor made situation than to have access to potential customers who have a need, are familiar with your company (because they are already a customer) and have the resources to make a purchase?  Enter email marketing.

Opt-In email marketing is where an individual has given you their email address for the purpose of receiving information from your company about the products and services you offer.  So, if you own an insurance agency, it would be beneficial to you to be obtaining the email address for every single customer you come into contact with.  Then, once a month you have a newsletter produced highlighting the various products and services you offer with the focus on the cost savings of multi-policy discounts.  If Mister and Misses Jones have had their auto policy with you for twenty years, let them know about the savings they could receive if they switched over their homeowners policy.

It’s all about growing your business

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So what’s with the trees?  Well, these aren’t just any trees, they’re Chinese bamboo trees.  I don ‘t
know if there is a better symbol for growth and persistence than the narrative about this plant.   You plant the seed for this tree and provide all the needed elements-water, good soil, sunlight, etc. You care for this seedling without an ounce of visible growth for an entire year, then repeat the process for years two, three and four.  Still no visible growth above the soil.  Sounds like our efforts in business sometimes doesn’t it?

It seems that sometimes we’re doing everything we need to do but there isn’t the tangible results we crave.  Nothing says success like a paycheck.  Still we keep building our business, improving our website and inbound marketing programs, our blogging, making connections and so on. Till one day..,..

Suddenly in year five the Chinese bamboo tree grows eighty feet in six weeks time! 80 feet!! But what was happening those first four plus years?  The seedling was putting down roots. It was growing a foundation that would be able to support an eighty foot tree when it sprouted.  The growth was there, it just wasn’t visible.

In the next series of blog posts we’re going to discuss the specific growth potential for six very specific business types that could benefit by utilizing email marketing. So check back often and see if your type of business is one that we will be discussing.

 

 

 

 

 

Email Marketing: Growing your business on a budget

img-blog-emailSo you’ve owned your business for a while and things seem to be going just fine.  There is a steady flow of customers walking through your door and except for the occasional slow month, the sales seem to be pretty level.

The problem is, level isn’t cutting it anymore.  The oldest child is going to be going to college in two years, one wants to play hockey this year, another needs driving lessons and there needs to be a plan on how to generate the cash flow to pay for all this stuff. Sound familiar?  So, how can you draw more customers into your business? 

How about EMAIL MARKETING?

There are two types of email marketing.  This article is going to provide information about “opt in” email marketing.  This is where someone has given you permission to send them information about your company through email.

So how does it all work?

  1.  When you are interacting with your customers, either on the phone or in person, simply ask them for their email address.  Let them know that you will be sending out a monthly email that will contain special offers or discounts that are only available to your online subscribers.  Who doesn’t want to receive discounts or a special offer? Add their email address to a spreadsheet and now you’re ready for the next customer.
  2.  Next, decide what you want to say and offer in your email.  Maybe you own a pizza shop that will offer a discount coupon on certain meal choices. If you own a Hair Salon, you might offer a discount on a second service like a manicure when they get a cut and color.  The point is that no matter what kind of business you own or manage, you can have plenty of options in which to offer your customers every month.
  3. After you decide on content your email marketing company will begin the process of putting the actual newsletter together.  This will be a full color newsletter that offers a host of different layout options.  The newsletter will actually open right in the body of the email your customers will receive and will not come as an attachment, thus bypassing any spam filters. Some Email Marketing Companies will charge a setup fee for the first email as they gather logos, corporate color themes and such that will be used in the subsequent emails.
  4. Once the email is designed and ready for launch, a test email is usually sent out to the owner or select staff to look over and approve.  This gives management a final chance to make any changes or then sign off on the final design and layout.

Once the email is sent to your customer list, having access to reporting tools that analyze how many emails were sent, how many were opened and how many were forwarded to others can help you make adjustments moving forward.  Prices vary for email marketing companies for this service, ranging from $200 to $500+ per email.

In 2014 Experian offered this quote about email marketing: “ For every $1 spent, $44.25 is the average return on email marketing investment.”  The point is that companies using email marketing as a way to grow their business are having a strong return on their investment.

So compared to other forms of advertising that a business owner may use to grow their customer base, Email Marketing is by far, one of the most cost efficient ways to grow your business.