Marketing "plan" for specialty/niche markets

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pageltd
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Marketing "plan" for specialty/niche markets

Post by pageltd »

I am working on a marketing plan for a specialty niche. I have a few very good markets for this particular target niche. One of them will write it as a BOP, which simplifies matters. I have a marketing list with phone numbers. I have some initial ideas, but what I am looking for are ANY ideas with respect to approaches that work. I am thinking about sending out a letter, followed by multiple phone calls. I want to try to set appointments, and we can;t do that we will gather critical information like x-dates to use later.

Any thoughts with regard to 1) marketing materials that work 2) sequence of activities 3) general approach. Include social media in the mix.

What attracts prospects out in the commercial insurance market these days?
George Page
www.pageins.com
wins5more
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Re: Marketing "plan" for specialty/niche markets

Post by wins5more »

As far as approaches go, it depends on your target market. Take VFW's as an example. You can call them 3 times a day, 5 days a week and may never even get someone to answer the phone regardless of whether or not their insurance is up for renewal in the next 1-3 months. But if you set up a booth at one of their conventions and hand out some brochures or 1-page sales sheets highlighting your awesome program you just might have more prospects than you know what to do with.

As for the content I would focus on the benefits your BOP has over their current program. Maybe it is non-audit, bases exposure on something other than sales/payroll that would be advantageous to the prospect? Unless it is a market that is prone to coverage gaps I am willing to bet it will be price driven. I wouldn't focus so much on an arbitrary % of savings, but would highlight the way it is rated since BOP's are usually rated differently than Pkg coverage. So there should be a definable benefit. I'd also keep it short as possible. Ever open a tri-fold brochure that is all text? It'll make your eyes cross.

If it is a market where you can hit the phones and get a prospect on the phone I would start right there. I am partial to basing my call of their policy renewal. It was the best way for me to maximize the effectiveness of my activity and ultimately something I turned into a business to serve the industry. My unbiased opinion is that if you are dealing with a small target market, lets say 1,200 prospects over the course of the year, it is not a big deal to call without because you have a finite # of initial calls and from there it is follow up and either scheduling a meeting or filling in the renewal date gap.

Call, follow up with direct mail letter/brochure/marketing material (or better with email if they're OK with it), call again.
http://www.InsuranceXdate.com - Prospecting Data & Lead Generation Software for Commercial Insurance Agencies
pageltd
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Posts: 148
Joined: Wed Jan 25, 2012 7:05 pm

Re: Marketing "plan" for specialty/niche markets

Post by pageltd »

Great, thanks for the info. I had great results in the past by calling and setting appointments. In the past it was easier to get the decision maker on the phone and set an appointment. What worked was that I was not just a telemarketer, but an insurance professional that knew how to talk about the product/coverage. These days it seems like people are so sick of getting bombarded. I still want to develop a calling routine.

What I want to do is fill in all the gaps by updating the list that I have. Information like decision maker's name, contact information and best way to contact (email, cell phone number). Renewal date (I don't find that's as important anymore, since we just lost an account that renewed on 01/31/2016 and was re-written 08/31/2016). I also want to know if they have any other locations and how to link those locations together in the software, so I don;t end up chasing my tail and calling them multiple times.

Probably making it more complicated, but the more data and the more accurate your data is the better, I think.

Here's a critical question...what software do you use to track all the activity. If I set up a system to make 25-50 calls a day, I will inevitable run into someone who says "Can you call back in an hour?" and then I need to set a task to make that call back. I have a slick piece of software, but I need to develop a workflow that ensures that I am getting stuff done and following up.

I totally agree with your thought of having a 1-page sell sheet or email template that describes what we are offering.

Key areas of interest. Contact information (see above), Policy / Renewal information / Competition, Tasks, Appointments...

Any other thoughts?
George Page
www.pageins.com
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