Insurance Journal Forums

We are all in the marketing business.

If we are not marketing ourselves, nobody will.

What are you doing this week to bring people to you?

My own actions:
-Finish-up & send out my monthly email newsletter.
-Plan my next series of teleseminars.
-Work on my newsletter for bankers.
-Finish my latest insurance video.

What are you doing that will get the word out about your brand, service, and value?

Keep chugging away. I have 6 marketing pland in motion at all times. If one falls, the other s will pick things up. Every once in a while, they all hit on all cylinders. It makes for a great month.

Sounds great FFA. Can you give us an overview of the types of things you are doing?

1) Cole X Date Services. 200+ monthly mailing.
2) When I write one, I do Neighbor Hood Marketing. Back to Cole Services for 100 of their closest neighbors telling them exactly how much their neighbors saved mailing.
3) Newspapers do blasts to every HH in my County and all surounding. For $220.00 it gets to 40K HH.
4) Referral Group - LeTip International.
5) 200+ letters mailed out on commercial prospects followed by phone calls by the 1st date of every month over two states. Generating over $20K in NB Premium Monthly. It works. They just need to do it.
6) Trade Shows. Have three scheduled through 1st Quater. I need better results. Could be on the chopping block.
7) Plaza Activity (I came up with the name). I set up a tent in the town plaza and give away trinkets, Hot Chocolate - Hot Dogs during the summer and run a TV raffle. I have three such events through 1st half on the radar.
I am in the process of firing up a program to market to Banquet Halls
9) E Mail Marketing. In the Mid West, its LandScaper Season begining Feb 1 through Mid May. Have staff populating that as we speak.
I guess its more then 6. It keeps me busy. Keeps my producers producing . Keeps my staff staffing. as usual, never enough.
Nothing nobody can not figure out from their Community College Education.

When one falls on its face, the other is there to pick it up. Every so often, they all click on all cylinders, but not often enough. I've been at this for too long to keep working this hard! Another 24 months, time to reduce staff and marketing and just ride the wave of renewals to retirement.

Impressive.

What are the most profitable/effective strategies?

In those strategies, what mistakes did you make when you started? What are you doing differently now from what you initially planned or implemented?

What is your favorite marketing strategy and why?

Scott, have you seen someone go from non-standard to preferred... or is that like a tortoise turning into a hare?

meytai if you mean from selling non-standard to selling standard business, sure.

Why do you perceive this is a problem?

Maybe I'm missing something. Sorry if I'm being thick.

Don't take any advice from this so called consultant Scott. I checked his blog on his website and he doesn't have YOUR our my best interest in mind. All he wants to do is sell you his products. He advocates that business insurance buyers "shop" their insurance every year with 5 brokers to pin the brokers and carriers against each other to get the lowest price. What a joke!

Scott, Mail and call is the best results by far. My Community Activity (Plaza Shows) is coming on strong. Trade shows, lots of tire kickers so far. Nothing to speak of. Forget trying to sell to vendors, it just pisses them off.

Neighborhood marketing is very strong too. Thats all keyed off the Cole X Dates.

What is an Insurance Mentor anyways? Everything I do came right out of my Community College Education. If I need advice, I call a GA or a company rep or even a competitor that I consider to be a better agent then I. Personally, I think everyoine is better because I took their ideas, nothing original.

If you do advocate to shop business to five brokers a year, we are just going to end up bumping into each other in the field shuffeling AOR's back and forth.

I respectively disagree with Policyman. Scott's blog is very good and informative, and full of good advice. The notion that Scott is "out there to get agents" is well, nonsense. If you read and comprehend what Scott is really doing, you will understand that Scott is actually HELPING us agents understand the buying-thinking-process that many of his clients use.

Moreover, if the idea that Scott advises his clients to shop for insurance every 5 years bothers you, then if I were you, I would look in the mirror and ask myself some hard questions:

- Am I offering this client the best coverage/premium I possibly can?
- Am I returning the client's phone calls in a timely manner?
- Does the client see me as an "asset" to his business?
- Am I there for the client when claims happen? In other words, do I call the client and ask: "Mr client, is the claim being handled to your expectations?

I could go on and on but what I am saying is that if you STAND OUT and don't be a run of the mill agent, the client won't simply just leave you. Because the truth my friend is that our industry is packed with incompetent agents. And I am not saying you're one, but you know it is true. So bring it on Scott!

And on a different subject, the problem with many agents is that they try to be the "write-everything-jack-of-all-trades agent" and that my friends simply does not work. The best approach is to target three to four SPECIFIC industries and become GOOD at it. Know your competitors inside out. Know the industry, the secrets, the players and you will do really well because deep down inside your clients will KNOW in their gut that you really know your "stuff" and once that happens, well, the sale will just come naturally.

There are some dangers for clients who shop their insurance every year. I worked with an agency who had a niche market and some specialized forms. Periodically we would have clients who would shop coverage every year. After the first 2 years, the underwriters at the other carriers wouldn't even quote as they were tired of wasting their time and resources. One client, that we non-renewed (for failure to inplement safety recs) found no one wanted to quote him as they'd already provided quotes for years with no success, both local agents and carriers wouldn't even return his calls. It is one thing to obtain competitive quotes to make sure you're getting the best deal, it is another to use agents or markets to try to leverage your existing agent or company. You can do it, but just don't cry wolf too often.

I don't disagree that you need to be proactive with your clients to retain their business. The idea about shopping your insurance with multiple brokers each year may on occasion provide them with a lower premium, but it does nothing to improve their long term cost of risk. Any competent broker needs to explain to their clients their marketing strategy at renewal, show them results and give them recommendations. There needs to be trust on the side of the client and broker for this to be possible. If there isn't trust then it's time to move on.

If this is the advice given, he is dead wrong.

policyman wrote:Don't take any advice from this so called consultant Scott. I checked his blog on his website and he doesn't have YOUR our my best interest in mind. All he wants to do is sell you his products. He advocates that business insurance buyers "shop" their insurance every year with 5 brokers to pin the brokers and carriers against each other to get the lowest price. What a joke!

How is that supposed to build loyalty between the agent, carrier, insured? When you get a carrier jumoer, when the @#it hits the fan, the carrier / agent will not show the loyalty.

Case Study - I have a client stuck in the pool for loss history. At renewal, things finally calmed down. Went to my preferred markets with it and they flat out denied it stating they have looked at that account 8 time in past three years. They will not entertain writing it untill they go 24 months without seeing it. Costing him and extra 20% annually because of this activity. when I explained this to the client, he was very upset at the person giving that advice out. I suggested a law suite.

If his advice is once every five years, that is the natural flow of the market.

Where are you Scott? Defend youself. What are your qualifications? What is your education? How long you been in the insurance industry?

I do have a 4 year degree in marketing, been in the business for over 20 years. One thing hold consistant for the entire length of my carrer, no marketing brings no business.

The best advice as it pertains to marketing was taught to me in Jr College - the law of large numbers. Stick with what works. Fight the boredome to change things when they are working. Have enough brains to know when things are not working.

It is a fool who continues to do the same thing and expects different results. Just look at the Cubs.

Wow...this suddenly turned into the "Beat Up on Scott" topic!

Not here to defend him...but anyone who wants to know what he is about ... just has to either Google him ... or even better go to his web page: http://www.scottsimmonds.com/index.php

I do not personally know him, but do think that he usually makes good sense. As for the bid every 5, not seen that in anything he has posted either here or on his web page, but if the insurance professional is doing their job correctly there should be no worry from a client checking out the others on occasion.

As for having "your" best interest in mind comment. Of course he has "your" best interest in mind. That being, providing your clients with objective review of the insurance program you have set up. Making sure your client has been presented with options so that they can make the best business decision that they can. Sometimes this might be a pure price decision, other times a coverage decision.

In the end, a better informed client makes a better and more loyal client. One that you do not have to constantly be worried about and wondering if they are hiding details from you. Personally I tell my clients "let me know everything, I will then figure out how to protect you. I will then let you make the best business decision that you can."