Most people buy insurance because they have to and they hope to never have to use it. The decision to purchase insurance is not entirely logical and that's where it's easy to make the biggest mistake in marketing your insurance agency.
ITC Chief Marketing Officer Becky Schroeder explains how a better understanding of consumers can improve your marketing strategy.
I have bad news for you. The average consumer doesn’t think about their insurance policies very often.
In fact, most people only care about their insurance at renewal time or during a claims event.
To be honest, we buy insurance because we have to and we hope we never have to use it. So, that’s why we shop on price. Right?
Well, not exactly. The decision to buy insurance is not fully logical, and that is where it is easy to make the biggest mistake in marketing your insurance agency.
The number one mistake you can make when you are marketing your insurance agency is to assume people are logical. To presume they care as much about insurance as you do.
The reality is people do not make decisions solely based on logic. Instead, we select products with our emotions in addition to logic. From the clothes we wear, to the cars we buy, or the soda we get at the supermarket.
These choices are made based on how we feel when we buy, or what we want others to think about us.
Social forces are stronger than any logic, and they play a part in our decisions. This is so ingrained in us, we don’t even realize we’re making decisions sometimes.
We may tell ourselves we made a decision using logic. But, logic is often the justification after an emotional decision.
Insurance is no different. It can be a very emotional decision because we want to protect what is most important to us.
When marketing your agency, don’t assume your audience will receive your message rationally.
The truth is your marketing efforts will not be effective if based only on logic.
Instead, your marketing should appeal to the logic AND the emotion. Focus on your why when marketing your insurance agency.
But, the most important thing you can do in marketing to avoid this mistake is to not make it all about you.
This may go against your instincts. Because you want them to know about your agency, right? So you have to talk about you. But, the people you’re trying to reach with your message care about themselves first.
So, when you tell your story, make your clients the hero. Tell your story from their perspective. That will appeal to both the logic and the emotion.