Insurance Marketing: You Don’t Sell Insurance, You Sell B2B Services

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Perception plays a huge part in marketing. Before they’ve spoken to you, the only evidence they have is their perception of your business. It’s your job to manage that perception and make sure that the business your prospects perceive is the same as the one you’re actually operating.

The other side of that role is making sure that the business your prospects perceive is one they actually want to work with. Which often presents a problem for insurance agents. The phrases “insurance agent or insurance broker” imply that you just sell insurance and insurance is something nobody wants. Business owners would prefer to avoid problems than get coverage for them.

Which is why you do a lot more than sell insurance. The goal is to make sure your prospects see you as a provider of B2B services and not an insurance vendor.

The Classic Pitch

Insurance marketing and sales tactics are heavily dependent on perception too. Insurance’s main selling point is the protection it gives a business. Your sales pitch involves telling the client about potential risks and how much damage those risks could cause. That’s followed by an explanation of all the ways insurance and risk management can solve those problems. You help clients to perceive a problem and then you offer to solve it.

The Problem

The problem with that pitch is the “problem” in the pitch. If you have to explain to the prospect what their risks are, then you are offering to solve a problem they never knew they had. It is a valuable service but it can be a difficult one for business owners to get on board with. You’re already working against a natural resistance to insurance and now you’re telling a business about more problems.

A lot of business owners will react in the same way as the older folks who refuse to visit the doctor. They don’t want to go because they go in feeling fine and then he tells them they’re sick. Most businesses feel fine and they still want to feel fine after you leave. If you offer really effective B2B services, you make them feel better than fine.

B2B Services

Business is all about growth. It’s bout finding that extra 1% that makes a great company even better. The most successful B2B services are the ones that find that edge. Not many insurance agents talk about it in terms of growth or efficiency but that’s exactly what you offer. Risk management and insurance are B2B services because they can make a business better.

Reducing risks cuts costs and drives more efficient work practices, while coverages like liability protect the business and ensure that big issues create low costs. If it’s done right that combination of greater efficiency and fewer costs will encourage growth. So why don’t more insurance agents talk in terms of B2B services?

Mutual Benefits

The insurance part of insurance marketing has another perception challenge, your commission. You get paid because your client had to buy something from someone else. That creates a perception that a win for you is a loss for the client and vice versa. That’s not what businesses want from B2B services.

Instead, they want mutual benefits. They want to build partnerships with service providers that offer wins for both sides. True risk management works this way too, you improve their business and as the business grows your commission grows with it. That’s the perception your clients need to have when they consider engaging with your agency.

Perception is everything in insurance marketing. The question is, when people see your agency are they expecting to buy insurance or B2B services?

Find out how SiliconCloud’s insurance marketing program can help improve your agency’s perception. Download here for free.

Republished with author's permission from original post.

Eoin Keenan
Media and Content Manager at Silicon Cloud. We help businesses to drive leads and build customer relationships through online marketing and social media. I blog mainly about social media & marketing, with some tech thrown in for good measure. All thoughts come filtered through other lives in finance, ecommerce, customer service and journalism.

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