Marketing Insurance to Industry Associations

November 22nd, 2022 by admin Leave a reply »

If you run a large insurance business that operates in multiple states, it makes sense to find a niche, and exploit that niche. One good way to do this is to make friends with an industry association, and to learn all the ins and outs of that particular business model. I often recommend when consulting insurance agencies and insurance companies on marketing strategies, that they pick two or three key businesses in the industry association that everyone recognizes and trusts.

Sometimes it makes sense to call upon one of the board members of the Industry Association who also runs a large private company in that sector. Then meet with that person, find out exactly what they need in terms of insurance, and custom tailor a commercial insurance program based on their needs, and working closely with several underwriters. Once that perfect package is put together, it makes sense to write marketing articles in their local trade journals, and ask for referrals.

It also makes sense to join the Industry Association as a certified supplier of services, and use the references of those companies that you have custom tailored your insurance program for. Indeed, exploiting such a niche might turn out to be a highly profitable venue, and as you get deeper into the process, you will learn of more insurance needs of all the clients in the industry.

This could also lead to customers that service the industry, supply the industry, and sell to the industry, as well as the main customers of the industry. In fact, there is no telling how much future business this type of strategy could generate over time. Please think about all this.

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