The Value of Outsourcing your Insurance Agency's Marketing Function

The truth is that most insurance agents can knock a sale out of the park once a prospect is in front of them but getting them into that position requires an entirely different type of nuanced approach. You can read up on marketing, or maybe even take a course, but the fact is that marketing your agency takes a dedicated effort and your plate is already full with the commitments of your position.

The bottom line here is that it's ok if you can't do it all, and in this case, it's actually better for your agency if you don't. Bringing in an outside marketing agency to promote your brand and attract more customers to your doorstep is a smart decision for any business to make. Here's why outsourcing your marketing functions provides value that's worth its weight in gold.

Marketing Teams are Good at Their Jobs:

Consider the average client you have sitting across from you. They're there because their knowledge of insurance products are limited, and they need an expert to guide and connect them with the policy that best suits their needs.

There's also a good chance that the person sitting in front of you is good at their job, it just has nothing to do with insurance. A marketing team can help your insurance agency in the very same way that you assist clients every day.

You lack the relevant experience to execute specific marketing tasks. Yes, you can do it on your own, but there's nuances and analytics that only a marketing professional understands how to leverage for brand growth.

The most powerful marketing strategy for your insurance agency is to let the experts handle it.

Outsourcing Is Cost Efficient:

There's a misconception floating around that outsourcing your marketing function is too deep of an expense for smaller insurance agencies. After all, why pay someone to do it when with a little effort or added team member you could just do it yourself?

The first flaw with this line of thinking is that it shows that you don't value your own time nearly enough. Every minute that your time is directed toward marketing efforts is a minute that's taken away from your clients. At first glance, it might seem like not outsourcing is the smart financial choice, but it's important to also consider the costs of not having the spare time to nurture relationships.

But, what about hiring a dedicated in-house marketing professional? Consider that the average annual salary of a digital marketing manager is a little over $77,000 a year. True, you can probably bring someone with digital marketing experience on board for less, but at the end of the day, you're still going to spend exponentially more in payroll that you would when outsourcing to a marketing agency.

They're Able to Scale New Opportunities:

Digital marketing is an ever-changing discipline. To become and remain competitive, you not only need to be marketing your business in the present, but also for the future. This takes more than taking a class or reading a few blog posts. It involves digging deep into the world of marketing every day, understanding how it works and which trends influence change.

Unfortunately, many in-house marketing teams aren't qualified to spot trends before they hit. When you outsource, you're putting your growth and reputation in the hands of someone that can optimize your strategy to perform ahead of the curve.

They Have the Right Tools:

Maybe you're familiar with the term "sales funnel". It's used as a representation of the process that takes place between the first time a client is introduced to your agency until they reach loyalty status. Like any funnel, the top is wider, allowing large numbers of qualified leads to pour in. Eventually, the funnel narrows as unqualified prospects are weeded out on the way to conversion.

Each stopping point along the funnel requires a specific, direct approach to marketing. Clients that are in the funnel are a precious commodity, and one wrong move can cause them to disappear. It doesn't even need to be anything major, something as seemingly insignificant as sending them an email that makes them feel like you don't really understand where they are in the consumer journey can be a huge turn-off.

Understanding and identifying this and then creating a personalized marketing approach is something that comes with experience and an intuitive sense about the industry. It also requires access to some serious analytical tools and the know-how to use them.

Someone Needs to Be Accountable:

What happens when you've taken control of your own marketing efforts in-house and your strategy flops? Will you know how to recognize the problem, adapt and turn things around, or will you struggle while trying several different approaches with fingers crossed that one works?

Or, what if you bring someone on board, spend time and money getting them up to speed, and then waste months waiting for results that never happen? You might choose to bring in someone new, but you've already lost so much time and a new hire will only cost more time and money.

Outsourcing your marketing function means that someone is accountable and determined to get results from day one. Their one and only job is to critically analyze every component of your marketing strategy and optimize it for success - their own reputation depends upon it.

Are You Ready to See Results?

The insurance industry is like no other and demands a specialized, laser sharp approach to marketing. We're the team that's experienced in building awareness, generating traffic and creating success for insurance businesses just like yours.

Contact Confluency Solutions today to learn more.