Advertising. Let's start a conversation...

[MIGA1626]

What is your guys opinion on advertising for 1.) Personal Lines Indy Agency and 2.) Commercial Lines Indy Agency. What do you think the pros and cons are. By advertising I specifically trading dollars passively for placement in front of peoples attention in some way. Not push marketing, cold calls, referrals ect... I'm talking social media, billboards, newspapers, mailing postcards, tv commercial, radio ect. What has worked the best and why?
I have had a very big agent tell me his business got even better after he stopped advertising. What are your guys thoughts?

 

[Markthebroker]

I stopped advertising about 10 years ago, so I am pretty out of the loop. I did do some direct mail, and it was fantastic. I also did some advertising on craigslist, and most of those clients ended up being crap.

It's all networking and referrals now. It's a lot easier to invest the time to network and properly ask for referrals, than to advertise. Plus, the sales conversion is much, much better.

 

[MIGA1626]

I stopped advertising about 10 years ago, so I am pretty out of the loop. I did do some direct mail, and it was fantastic. I also did some advertising on craigslist, and most of those clients ended up being crap.

It's all networking and referrals now. It's a lot easier to invest the time to network and properly ask for referrals, than to advertise. Plus, the sales conversion is much, much better.

Yes I agree that seems to be what I have discovered. Not so humble brag: I get so many referrals I can't keep up with them. If I started asking for them I would drown...I....I really need to hire more people.

 

[Markthebroker]

Yes I agree that seems to be what I have discovered. Not so humble brag: I get so many referrals I can't keep up with them. If I started asking for them I would drown...I....I really need to hire more people.

Not a brag. If you are doing a good job, you will get more and more referrals as the years go on. I'm pretty much at that point also. It's been a few years since I've actually asked for a referral. To be honest, I'm always hoping the phone stops ringing long enough for me to take a little road trip.

 

[Policy Monkey]

In my experience (P&C only, Florida only), the only advertising to have noticeable results was old school, newspaper print ads. They brought in the older folks who've been through some sh!t and appreciate insurance. SEO is also important to show up on search results, but banner ads, push ads and especially PPC were all a waste of money. (Insurance is one of the most expensive PPC segments.)

 

[marindependent]

All of the methods have plusses and minuess - they are all expensive.
Print- Yep this works if you want older clients
TV- Yep you can actually do this, but will need help
Mailers- Nobody opens them - but Post Cards, maybe a bit
Adwords/Online- Exp Yes, but you can turn on and off in a moment
Yelp- Dont go there
Sponsorships - Hit and Miss
PR / Online / Etc - with the right folks sure, but you need to trust the right group
Blog Content on your own Site - takes a LONG time and lots or work

But before you do any of this - let me ask you a question... Are you already calling every client you have to ask if they need a Term life insurance policy, a Commercial / Personal Umbrella, a Flood or Earthquake Policy?