Insurance Agency Digital Marketing Tips


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Tips to help an insurance agency grow in digital space.

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Insurance Agency Digital Marketing Tips

  1. 1. Barbara M Fowler Chief Outsiders Marketing in 2014: 8 Tips to Explore June 2014
  2. 2. 2 Chief Outsiders Make your agency easy to do business with! 57-92% of search starts or continues on the Internet! Do they find you via your website? When they get there, what do they expect? What if they don’t find what they want?
  3. 3. 3 Chief Outsiders Where are you now? SEO Content Technology Tools 3 Key Components These are all connected and must be utilized together!
  4. 4. 4 Chief Outsiders Develop Strategy Before Tactics Become Data-Driven Benchmark Against Key Competitors Integrate Everything Identify Buyer Personas Review Current Marketing Spend 1 2 3 4 5 6 $✓ ✓ Everyone is in marketing! 8 Test 7
  5. 5. 5 Chief Outsiders It Begins with a Mindset Benchmark Against Key Competitors Be curious, get outside your own company! 1
  6. 6. 6 Chief Outsiders Best Trade Show Marketing Best Blogs Google Alerts, Talkwalker Moz’s OpenSite Explorer Marketing Grader Competitor Analysis Be curious, get outside your own company! How? SEM RUSH EXPLORE!
  7. 7. 7 Chief Outsiders Check where you are spending money and time Review Current Marketing Spend No Sacred Cows 2 $✓
  8. 8. 8 Chief Outsiders Including salaries? What is the result? $10,000,000 revenue What are you spending and what does it include? $20,000 to $500,000 Averages are from 2-50+% depending on study and industry Example 20% 12% 8% 7% 6% 6% 5% 21% TRADE SHOWS, SEMINARS, CONFERENCES CONTENT PRODUCTION WEBSITE AGENCY FEES EMAIL ADVERTISING PR OTHER
  9. 9. 9 Chief Outsiders Prepare Them in Advance Develop Strategy Before Tactics3
  10. 10. 10 Chief Outsiders What is the Difference? Strategy can be the broad goals of your business that generate the results you want to achieve. A tactic is a specific “do-it” to achieve the strategy. Strategy or Tactic? •Be the market share leader in homeowners insurance in 10 zip codes •Maneuver your agency into top two consideration set of household decision makers. •Deploy a marketing campaign that leverages existing customer reviews and spurs them to conduct word of mouth with their peers in online and real world events. •Offer best in market compensation plan with benefits to attract top performers
  11. 11. 11 Chief Outsiders We want to work with people we know and trust! *What do you need and how can I help you? Identify Buyer Personas Who are your prospects? Where do you find them? How do they find you? What stage of the buying process are they in? 4
  12. 12. 12 Chief Outsiders Paint a Picture We want to work with people we know and trust What are their demographics? Age, Gender, Income, etc. Where do they go for information? What are their pain points? What are their most common concerns? What do they value most? What are their goals? How do I identify this persona?
  13. 13. 13 Chief Outsiders How? They find you but they are impatient! Calling a lead within 5 minutes of a form fill vs. 60 minutes of a form fill increases conversions by 341% (1) If you call a lead within 60 seconds of a form fill you are 500% more likely to convert the lead (2) The first business to speak to a lead on the phone is 238% more likely to get that lead as a customer than the second business to speak to the lead (1) The odds of contacting a lead if called in 5 minutes are 100x higher vs. 30 minutes (1 The odds of converting a lead if called in 5 minutes are 21x higher vs. 30 minutes (1) Technology Tips: Consider these statistics. (1) Kellogg School of Management at Northwestern, Speak2Lead (2) MIT 1 2 3 4 5
  14. 14. 14 Chief Outsiders Think PESO! What is a MQL? What is a SQL? Integrate Everything! Paid, Earned, Sponsored, Owned 5
  15. 15. 15 Chief Outsiders Obsess! Become Data-Driven Show Me The Numbers! 6
  16. 16. 16 Chief Outsiders Show me the Numbers! Not Anecdotes. What are your KPIs? ROI CLTV Conversions How much revenue/how much I invested How much profit will I earn from this customer over time? What is a conversion and how will I measure it?
  17. 17. 17 Chief Outsiders You don’t need to bet the bank! Use Technology! And Test, Test, Test! Marketing Automation, CRM Systems, Apps 7 ✓
  18. 18. 18 Chief Outsiders Marketing Automation, CRM Systems, Apps You don’t need to bet the bank! Experiment! Google Analytics WhichTestWon.c om A/B Testing of Landing Pages Email: Constant Contact, Salesforce @
  19. 19. 19 Chief Outsiders Develop the Culture/ Be Agile/ Experiment There is no such thing as Digital Marketing, It’s Marketing! Everyone is in Marketing! 8
  20. 20. 20 Chief Outsiders Sales of B2B marketers send all leads directly to sales; however, only 27% of those leads will be qualified. of business buyers say when they’re ready to buy, they’ll find you. (DemandGen Report) Research shows that ( of sales go to the vendor that responds first. (SiriusDecisions) of the buying process is now complete by the time a prospect is ready to engage with sales. (MarketingSherpa) 90% 35-50% 70% 61%
  21. 21. 21 Chief Outsiders Marketing Automation of top performing companies are using or plan to start using marketing automation between 2012 to 2015. The adoption of marketing technology is expected to increase Sirius Decisions by 2015. International Data Corporation The marketing automation market is predicted to grow from In 2010 In 2015 of all B2B Fortune 500 companies are already using marketing automation, along with 76% of the world’s largest SaaS companies. Pardot Gleanster 50% 1/4 $3.2b $4.8b 84%
  22. 22. 22 Chief Outsiders of CMO’s at top performing companies indicate that their most compelling reason for implementing marketing automation is to increase revenue. Marketing automation platform users have a Aberdeen Group higher conversion rate from marketing response to marketing-qualified lead than non-users. of survey respondents indicate that the ability to set measurable objectives for each of their campaigns is the biggest value driver of marketing automation. Gleanster Gleanster 53% 63% 77% Marketing Automation
  23. 23. 23 Chief Outsiders Lead Nurturing Companies that excel at lead nurturing generate DemandGen Report Nurture leads produce, on average, a increase in sales opportunites versus non-nurtured leads. 20% 9.3% CSO Insights Companies with mature lead generation and management practices have a higher sales quota achievement rate. Forrester Research 50% more sales-ready leads at 33% lower cost.
  24. 24. 24 Chief Outsiders or greater increase in revenue in 6-9 months. The Annuitas Group Nurture leads make larger purchases than non-nurtured leads. 47% 9.3% CSO Insights Companies that automate lead management see a higher sales quota achievement rate. 10% Gartner Research Lead Nurturing
  25. 25. 25 Chief Outsiders Thank You! Please contact Barbara Fowler at with additional questions and/or comments.