For independent insurance agents, time and money are two primary
concerns when evaluating the effectiveness of a marketing strategy. If
you’re going to dedicate energy to marketing, you want it to be
effective, efficient, and result in new leads. While marketing is
constantly evolving, one effort that has proven its success time and
time again is email marketing.
Here’s why.
It’s Cost Effective
For every $1 spent on email marketing, you can earn $43 back. Why? Email is inexpensive to create and, when using an automated email marketing system, only requires a few minutes of your time. With a 4,300% ROI,
it’s hard to not use email marketing. You’ll decrease client
acquisition costs while building your clientele and increasing your
business profits.
Email is Ubiquitous
91% of consumers
check their email at least once a day. That’s more than social media,
blogs, and even news and shopping sites. You can’t track voicemails or
mailers, and you can’t ensure everyone sees your social media posts or
advertisements. But when you send an email, you know who is receiving
your message, you can track if they open it, and you can encourage them
to pass along the message to a friend or family member. It’s a more
controlled environment than most other communication methods.
Your Prospects and Clients Prefer Email
90% of consumers
would rather receive updates and company information via email, rather
than a phone call, social media, or other communication form. Email is
easier to consume, can be read at whatever time is most convenient, and
provides a record you can save for future reference.
It’s Easier to Retain Clients and Encourage Repeat Business
Nearly half of consumers
make a purchase based on a promotional email they received. And by
sending continuous messaging throughout the year, you can keep in touch
with your clients and encourage them to return to you when they need a
new insurance policy or when it’s time to renew.
You Can Target and Personalize
When you blast out a general message on the importance of
long-term care insurance on your blog or social media, only a small
portion of your audience will care. Millennials, young families, and
professionals just starting their careers will ignore your message. Some
will even be annoyed. In fact, 74% of online consumers
get frustrated with brands when they share content that has nothing to
do with their interests. With email marketing, you can send a message
about long-term care insurance to your established clients, and send a
different message on homeowners or renters insurance to your younger
clientele. With email, you can segment your lists and easily target
different client bases based on their interests, age ranges, geographic
area, and other key demographics.
You Can Convert More Leads
Email is nearly 40 times
better than Facebook and Twitter at acquiring customers, generates 50%
more sales-ready leads at 33% lower cost, and is consistently ranked as
the single most effective tactic for awareness, acquisition, conversion,
and retention. Why? With social media and online advertisements, you
risk your content not being seen. But when you send out a drip campaign
of several messages over a certain period time, you can nourish a
relationship and convert a referral or stranger into a client.
Analytics are Readily Available
Marketing is a waste of time and money if you can’t measure and
track results. You want to know how a strategy is working and if
results improve upon adjustment. While most marketing strategies have
tracking capabilities, email offers an impressive array of analytics.
You can see exactly who opened your email, who unsubscribed, who
subscribed, what messages and content perform the best, what day and
time gets the best response, and more. With these analytics, you can
determine who is most engaged with your business, who needs extra
follow-up, and who you may be able to approach for a referral or repeat
business.
Credit: http://www.insurancejournal.com
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