U.S. property and casualty insurance generates over $1.6 trillion in premiums globally. It also employs more than a million people in North America and the UK alone. This positions P&C insurance as one of the largest shares and one of the most competitive sectors in the insurance industry. So whether it’s auto insurance marketing, commercial insurance, and/or home insurance policies, you need to stay ahead of your competitors if you want to stand out. Here are 10 property and casualty insurance marketing ideas that you can start using today.
1. Use Well-Placed Lead-Capture Forms
Almost three-quarters of marketers are using well-placed forms on their websites for an effective lead generation strategy. About half of them claim that these forms are their go-to lead gen tool. So whether you’re relying on organic traffic or paid ads to get people to your website, go all-in with lead-capture forms.
As traffic visits your website, be sure you’re using every opportunity to get their contact information. You can post it in a prominent spot on your home page or landing page (above the fold) and/or use a popup to prompt consumers to give you their name and email address (at the very least). In return, offer them some kind of reward, such as a free downloadable e-book. Whatever you choose, it should provide value. Consider exclusive information they can only get via this offer.
2. Save Time and Money with Automated Marketing Campaigns
Lead capture forms go hand-in-hand with automated marketing campaigns. Most visitors (roughly 96%) to your website aren’t ready to buy an insurance policy from your brand on their first visit. They need to get acquainted with you first. They want to perform their due diligence to make sure you’re the best option for their insurance needs. One of the most effective ways to move this process along is to pursue their business with automated marketing campaigns. This is a series of nurturing emails and direct mailings that speak volumes with the right messages at the right times.
Automated marketing campaigns save time and money as part of your insurance marketing strategy. Rather than contacting each consumer on their way to becoming a customer, you can plan the message they receive in advance. (These messages are created in advance and they’re sent according to a consumer’s own actions.) So if someone visits a specific page or clicks a certain link, they’re prompting further correspondence from your insurance brand.
3. Direct Mail + Digital = Multichannel Marketing
Direct mail is a versatile and effective part of any modern-day marketing strategy. When you compare it to email marketing, it boasts a far better response rate. Meanwhile, digital marketing has an incredible ROI. But the idea is not to choose one or the other. Don’t look at it as a direct mail vs. digital marketing debate. Rather, the two work well as a team—aka multichannel marketing. You can use direct mail as part of an automated marketing campaign by combining direct mailings with your digital marketing efforts. But you can also use it on its own to reach out to prospective customers.
In fact, the DMA reports that more than half of all consumers trust print marketing more than any other type. That’s why a direct mail postcard can generate an ROI of more than 300%. Let’s look at an example.
If you’re a brand with multiple agencies and distributed marketers, there’s a way to incorporate direct mail into your property and casualty insurance marketing ideas. Reach out to people who have just moved into your neighborhoods. Gather a list of new residents and prepare your best direct mail campaign welcoming them to the neighborhood. Introduce your brand as the place where they can find the solutions for their auto, commercial, and/or home insurance needs.
Pro Tip: Personalize your direct mail campaigns for a 20% increase in sales! We have a blog post that shows you exactly how: Insurance Marketing Ideas: How to Personalize Your Direct Mail Campaigns
4. Answer Your FAQs with Helpful Articles
In his popular book, They Ask You Answer, keynote speaker and author Marcus Sheridan has some advice for inbound marketers. Answer as many of your customers’ questions as possible on your website. In fact, he proposes not just creating a blog (which leads to almost 5x more leads) but building a knowledge base to house a variety of content. This is where people can find everything they need to make an informed decision about purchasing a P&C insurance policy. Yes, this includes blog posts, but it also features downloadable content like e-books, videos, guides, podcasts, PDFs, and more.
Once you take all the guesswork out of buying an insurance policy, you pave the way for a successful business transaction with your brand. Strategize a list of questions your customers typically ask, then answer them as completely as possible in a learning center of sorts. Give them all the information they need to make informed decisions about their P&C insurance needs. You’ll likely be very pleased with the results.
5. Create a Google My Business Account Listing
If your insurance brand has multiple agency offices, a Google My Business listing can make a big difference in how many people find and choose your brand for their insurance needs. Your Google listing provides would-be customers with a wealth of valuable information in a snapshot synopsis featuring:
- Business name
- Photo of your storefront or additional images
- Physical address
- Telephone number
- Office hours
- Business category (P&C insurance)
- Customer reviews
Speaking of reviews, your Google My Business listing is also where you can read and respond to any reviews your agency receives. It’s important to respond to any feedback because it shows that you care about what your customers think and what they require from you.
6. Ask for and Manage Online Reviews
Word of mouth can make or break any business online. Your insurance brand is no different. Research shows that your prospective clients are 90% more likely to buy from your brand if they see positive reviews first. Think about your own online shopping experiences. No matter what you’re searching for, positive reviews affect how you judge a brand’s products or services. If a lot of people are liking something or they’re sharing favorable experiences, you’re more likely to buy from that brand. On the other hand, if people dislike something and they’re letting the world know about it via negative feedback, you’re immediately going to be skeptical that the brand can fulfill your needs.
Stay up-to-date with all the reviews you receive and be sure to respond to each in a timely manner. Thank people for their positive feedback and ask the customers who have posted negative reviews how you can fix the situation. Transparency is a key ingredient to successful branding.
7. Get New Customers with Referral Programs
Referred consumers are 4x more likely to buy your products or services. Plus, they have an almost 40% higher retention rate. That’s the best of both worlds for any business looking to add and keep new customers. This type of word-of-mouth marketing has taken on a whole new meaning with the advent of social media, online reviews, and referral programs. The key is to get proactive and ask (and reward) people for their introductions to your business. You want your customers to be happy with your insurance brand. When they’re happy, they’ll likely tell their friends and family about their experience. But if you offer them an incentive to inform others about your business, you’re pushing that process to a new level. In fact, brands that have a referral program can generate a 5x higher conversion rate over other marketing channels.
8. Send a Handwritten Message to Your Customers
Of all the property and casualty insurance marketing ideas you may consider, a handwritten note of thanks stands out as a way to not only gain new customers but keep the ones you have. When you’re using direct mail as part of your marketing strategy, add a handwritten touch to your messages. It could be as simple as a PS in your letter or a few written words on the outside of the envelope to create interest and intrigue. But there’s no question that handwriting attracts attention. Research shows that a handwritten message on an envelope has an almost perfect open rate.
Of course, once you succeed in securing a new customer, you’ll want to do everything you can to keep them as satisfied promoters of your insurance brand. How do you do that? There are many ways, but one method that works is showing appreciation via a handwritten message. This type of correspondence shows that your brand appreciates your customer’s business enough to compose a handwritten thank-you note.
9. Create Out of the Ordinary Marketing Materials with Large Format Printing
Don’t limit your marketing efforts to digital and direct mail. There are a lot of marketing opportunities right inside your main offices, branch locations, and communities. Large-format printing allows you to augment your messages with in-store marketing materials, real-world advertisements, and other printed marketing collateral. Here are a few of the possibilities you should consider.
- Point-of-purchase. When your customers visit one of your branch locations to talk about P&C insurance options, your branding needs to be on-point to impress. Why does it matter? Consistency in branding leads to about 25% more revenue. That means all your locations need to have similar “in-store” marketing materials and messages. This could be anything from wall posters and hanging signs to window clings and more. You can create these around marketing campaigns, seasonal offers, and special promotions.
- Brochures and promotional handouts. When someone visits your office or requests more information, do you send them home with marketing materials so they can consider their options? Hopefully, you do. It could be a series of brochures or informational handouts inside a folder with your business card. Colorful, easy-to-read (and understand) marketing materials can make or break a sale.
- Outdoor advertisements. When it comes to advertising your insurance business, you want to look your best. Use large format printing to create ads for the local subways, train stations, and bus stops. You can also make a much larger statement with a strategically placed billboard ad.
If you’re wondering how to use large format printing, MSP offers our P&C insurance customers the highest-quality print collateral using the latest and greatest printing equipment. You can control and manage all your print needs with a cloud-based software solution. We’ve helped some of the world’s top businesses improve their printed marketing collateral and we can help yours, too.
10. Think Outside Your Usual Marketing Box
Lastly, consider some of these other marketing methods for rounding out your property and casualty insurance marketing ideas. It’s easy to get caught up solely in digital and direct mail marketing. You can forget about some of the “old-school” methods that still have value in terms of attracting new customers.
- Get involved in your community. Sponsor local events or volunteer your time as an individual or agency to make your community a better place to live.
- Attend local business mixers. Talk with your fellow business owners and community members about what matters most to them.
- Hand out promotional items. Wherever you go, have business cards and promotional materials on hand to give to people when you’re talking about your P&C insurance business.
- Tube man. If you don’t think it’s too corny, install an inflatable, air-powered tube man in front of your location to attract attention.
- Co-brand with a popular local business. Find a local business (like a pizzeria or diner) that you can partner with and co-brand your message and offer.
Get creative. How about placing a dented car in your parking lot with a description of what your auto policy covers. At the very least, it will attract attention. There are always new ways to get people to notice your insurance business. Keep it tasteful and most of all, use your insurance agency marketing ideas to show people how you can make their lives better.
Put Your Property and Casualty Insurance Marketing Ideas Into Action
Now that you have some great ideas on how to market your P&C insurance business, it’s time to put them into action and analyze the results. An MSP representative can help you strategize a plan that will work best for your business. Contact us today and let’s get started!
P&C Insurance Marketers
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