The size of your marketing team does not dictate the level of success you can achieve with your marketing strategy. For Insurance Brokers with smaller teams of 1-5 employees, the keys to realizing success starts with leadership acting on three key points:

  1. Accepting that your marketing team can’t be experts in everything
  2. Figuring out what each team member does really well
  3. Finding the right marketing agency that fills the gaps.

Because while it’s possible to thrive to a degree with only a small in-house marketing team, there’s a ceiling to this success. And, assuming you want to burst through that ceiling, you’ll need to find a partner that will enable you to do so.

Below, we’ll discuss how that process might look and why it’s so crucial:

Find the Right Vendor

Before getting into any specific discussions about marketing strategy, it’s important to highlight why finding a  vendor that aligns best with your firm is so important.

The right fit vendor is one that can fill in any gaps in knowledge or expertise, shoring up internal weaknesses. They should also be able to add incremental value to your strengths. In order to accomplish this, an internal audit should be performed to specify where those strengths and weaknesses lie.

Embrace Digital Transformation

Many of the Insurance Brokers we spoke with 5-6 years ago were initially reluctant to embrace digital transformation. There was concern about losing valuable personal connections that had been established with their customers. But what they didn’t realize is that a well-planned digital program is actually centered around opportunities to engage better with these same customers – with more relevance and value – while reducing inefficiencies that don’t benefit anyone. 

Fast-forward to 2021. While we continue to see some of this same reluctance, Brokers are beginning to realize that embracing digital can be of significant value. Those who are open to change can give themselves a significant competitive advantage just by deciding to embrace digital platforms – with the right strategy and support of course. 

The Insurance sector as a whole has been slow to adopt digital. Therefore, insurance marketers who take the time to see what other industries are doing will not only learn a lot but have the opportunity to bring enormous value to an industry in deep need of transformation.

Challenges with the Digital Insurance Customer

Historically, online insurance shoppers weren’t seen as the most ideal type of customer.

As the online space allows for plenty of research and comparisons, digital insurance consumers have tended to be more price-driven in their approach. But Brokers don’t want customers whose sole purchase criteria is paying as little as possible.

How, then, do insurance marketers pinpoint high-value customers? The answer lies in leveraging digital tools to communicate a value proposition that focuses on value versus cost – but in the right way.

The Strategic Value Proposition

A strategically sound value proposition helps sort the wheat from the chaff and attract desirable customers for a small insurance Broker.

It’s here that working with the right external marketing partner can make an enormous difference. Combining your team’s specific internal knowledge with a vendor’s broader expertise about the marketplace, best practices and brand voice helps to create a resonant marketing message.

As an example: in insurance, “quality service” as a value proposition is a non-starter because everyone in the industry also feels they deliver excellent service. 

The right marketing partner will help you dig deeper and craft a truly unique value proposition, allowing you to speak more directly to your targeted persona. So Instead of saying“quality service,” your message could be focused on something like “we’ll help you navigate your personal insurance.” 

The right vendor for your Brokerage will also be able to evaluate the effectiveness of this value proposition. They will build reporting based on key metrics, driven by strategies like  a/b testing. 

Once the optimal message is determined, a good agency will ensure that your marketing strategy and message is shared across multiple channels including PPC campaigns,  social media and blog posts.

A small team can potentially tackle several of these tasks on their own but not all of them. This can severely limit the success a Broker can realize. By adding the right marketing vendor to a small marketing team, with additional resources and missing expertise, these limitations are lifted – opening up opportunities for growth and success.  

We want your insurance marketing team to access our vast pool of marketing knowledge at Goose Digital. Contact us today, and take the first step toward drastically growing your business.