Sales Tips for Insurance in 2024

After a long and arduous year, 2024 brings a fresh start. Now is the perfect opportunity to revamp your company’s commercial sales and marketing plan. This article will show you how any agency can improve its sales in the upcoming year, despite the challenges that may come along the way. Consider these insurance sales tips for 2024:

 Prospect List and Qualification 

Get started by evaluating your company’s prospect list. Identify your most qualified business opportunities. Take some time to reconstruct your target market and focus your attention on them – particularly, your Top 100. The pandemic has caused many businesses to change the way they do business, while others had to close down all together. Many producers focus on certain industry segments such as construction, restaurants and manufacturing, all whose ‘face’ has changed quite a bit this past year. It’s important to requalify your list to be sure you have the most practical targets during this time.  

 Though you can do business with a wide array of companies, if you are going to spend marketing dollars to find them, ensure the value of those potential wins far exceeds what you might spend to acquire them. In order to optimize your team’s time and effort, create parameters around what opportunities are worthwhile. Qualification factors can include geographic location, company size, industry classification, etc. If your list demonstrates premium spent, even better. Wouldn’t it make sense to spend marketing dollars on opportunities with at least a $20k annual premium? In addition, a quick search for your decision–maker’s name can go a long way in properly aligning your phone outreach and nurture campaign. Reaching your prospects may not be easy, especially with many people working remotely, but prospects are hearing less marketing noise now, so when you do reach them, you will likely have a better experience speaking with them.

 Multi-Channel Approach 

After qualification, use a multi-channel marketing approach to pursue prospects. This tactic encourages companies to approach prospects and targets through various channels such as emails, phone calls, direct mail, and social media. New customers can discover your company and communicate back using their preferred method. Some ideas on each platform include, but are not limited to: 

 Monthly Newsletters 

Seek out a valid email for the decision-maker so that there is an email newsletter nurturing those prospects behind the producer’s efforts. Start the year off fresh in the eyes of the prospect and inspire inbound calls from a monthly email campaign. Make sure content on the newsletter is simple, yet engaging. Be sure to include graphics and images to grab the prospect’s attention. Use links to other content, social media, and your company website to give them a quick and easy avenue to explore. Create strong call-to-actions to inspire conversions. 

Appointment Setting 

Outbound calls are imperative to get direct answers and narrow the large funnel into qualified prospects that have interest. Through calls, you can differentiate those who want appointments, callbacks, further information, or are not interested in what you offer. This will give you a better understanding of how much time to allocate to specific records in your prospect list, while reducing costs for techniques such as direct mail. 

Direct Mail 

Do not neglect tactile resources when pursuing new targets. Using direct mail a few times a year is a traditional yet refreshingly underused avenue to pursue. Despite many channels moving online, people still open their mail, and while they’re getting less of it, you can get noticed. Direct mail is also an efficient way to reach different generations and smaller businesses whose online presence may not be as strong as large corporations.  

 Press and Blog Opportunities 

Craft branded content that your targets’ decision-makers will read. Make a blog on your company’s website that includes articles and posts from trade magazines and other press opportunities. Original content is the perfect tactic to reach readers who may be interested in your business. This may be where they find you first, thusly creating additional organic inbound opportunities. Also consider translating your articles into videos or infographics will grab a viewer’s attention quickly. It’s important to have media variety in anticipation of different types of buying styles. Posting content on LinkedIn and any other social media platforms will ensure credibility. Include articles in newsletters with easy access and eye-catching headlines. 

 Strategic Alliances

Build a list of strategic alliances in your industry that can refer you to potential new business. Try to make it a mutually beneficial relationship as much as possible! Use the tactics listed above to nurture and refine your relationships. If you haven’t already, connect with your allies on LinkedIn or via newsletter announcements. Doing this will add them to your professional network and introduce you to more potential connections. 

 Much has changed, but hopefully these tips will help you market your agency effectively in 2024. It will take hard work and determination, but it will be worth it. If your company needs extra assistance, the seasoned MarketReach team is what you need. We specialize in prospect pre-qualification and high-level appointment setting. We also supplement your sales pipeline with monthly newsletters, LinkedIn Connection & Awareness programs, and sales collateral! Close deals, faster, with MarketReach. Give us a call at 609-448-6364. 

 Isabela Venice