Our expertise may be in digital marketing for insurance agents, but we know there’s more to building your business than gaining new leads. So, we caught up with multi-office insurance agent Chris Jones from Bothell, WA to pick his brain about growing a new insurance agency. With years of experience, a large team, and multiple offices, Chris knows a thing or two about what it takes to thrive in the insurance industry. We asked Chris for his top five tips for building a successful agency, and here’s what he had to say.
1. Have a sales process (and stick to it!).
Out of the gate, Chris had this advice, “Have a sales process and stick to it!”. While most agents set out with the intention of adhering to a strict sales process, day-to-day in the office can sometimes get in the way. Chris implores agents to be “honest with themselves” about whether or not their team is following the process. There’s always room for improvement!
Whether you already have a sales process in place or you’re creating a new one, be sure to write it down. Then, keep this concrete document in a place your team can access it. Everyone should be aware of the process and have the training they need to follow it.
To find out how well your process is working, have your team record each interaction with a lead. At the end of the week, collect this information to review it. Did you team hit each touchpoint they needed to? Are they on track according to the process? If not, that may mean your team needs additional training to meet your goals.
2. Lead by example.
Don’t be a “do as I say, not as I do” kind of boss. A leader that is willing to roll up their sleeves and do the hardest work is one that employees respect. Chris says it’s important to understand what your team needs from you and how best you can serve your business. Sometimes, that means that you take on a customer-facing role. As you grow, this will mean that you’ll have to delegate tasks and provide oversight. Chris says not to rush to the latter. Building a business is a marathon, not a sprint.
3. Put your business growth first.
Chris warns against excessive and unnecessary spending, especially in the first year. He told us, “Live frugally for a while and live like a king later.” He says rather than exhausting your budget on fancy office furniture or taking a large paycheck, that money is better invested back into the business. This means creating a healthy marketing budget, hiring the right people, and giving up the little luxuries you can live without.
4. Maximize your marketing budget.
This tip piggybacks on the above advice. Chris stressed that creating an efficient, multi-tiered insurance marketing plan is paramount to getting a new agency off the ground. Diversify your insurance marketing plan to include multiple strategies, like local SEO, online advertising, and business directory listing optimization.
Chris reminds us that to build a booming business, you can’t wait for customers to come to you. He suggests being generous but smart with your marketing budget. Be sure to check in on your progress to ensure you’re spending your budget in the right places. If you work with an outside insurance marketing agency, like Melon Local, that means holding them accountable. When you work with Melon, we make this process simple with an online dashboard, monthly reports, and regular calls to tell you all about your marketing campaigns’ performance.
5. Know your market.
Every market is different. “Just because something worked for another agent, doesn’t mean it will work for you,” Chris says. He gives the example of an agent with a car wrap. While that may have panned out for that agent, he says that strategy wouldn’t work in his metropolitan market. Each agent should adjust their insurance marketing plan to meet the needs of their particular market.
To understand how to best market to your target demographic, you first need to understand who exactly your ideal customer is. List common key traits your customers share to identify qualities that can inform your insurance marketing plan. This could be something as simple as which kind of insurance customers usually ask for or as specific as the number of people in the household. Getting to know your customers will help you craft an insurance marketing plan that speaks to them.
Plant the Seeds for Growth
While we may not be able to help you draft a sales process, there’s plenty on this list of business tips Melon Local can do to get your agency growing in the right direction! To learn how our digital marketing services can help you create visibility, generate leads, and win new customers, reach out to our team for a demo.