If you’re a commercial insurance agency, chances
are you need better insurance software. A
recent Deloitte study found commercial insurance “has lagged (behind)
personal lines development considerably” over the last years. Personal
lines-heavy insurers seem to invest more in technology than their commercial
lines counterparts, despite the volume of data commercial agencies process.
As customer
expectations adapt in all industries, insurance is no exception. Customers seek
a more personalized experience, based on rapid digitization. Companies are gathering
information on client preferences and adjusting quickly to meet their needs.
Yet, many independent agencies find it difficult to capture and analyze the
wealth of data needed to meet these expectations.
Marketing
automation + an insurance CRM are building blocks to capture this meaningful
information and turn it into relevant action and communication. Each has its
own benefits, but agencies need both to make a real impact. Studies show
businesses that combine these tools increase lead qualification by more than 450% and sales productivity by close to 15%.
The combo of
marketing automation and an insurance CRM allows agencies to see data at a
granular level, revealing customer insights and new market opportunities. Each
works on a different end of the sales funnel to help agencies bring in more
customers, improve service, and expand business.
Marketing
automation software is designed to streamline and automate marketing
tasks. Leverage marketing automation to get to know customer habits and launch
targeted outreach campaigns. Schedule and track each campaign and use the data acquired
to identify new markets and dial in on winning marketing techniques.
Some of
marketing automation’s main benefits include:
Segmented marketing lists by interactions, interests, preferences, etc.
Automated content distribution based on list segmentation
Scheduled drip campaigns based on actions such as website visits or email response
One
system for lists, content, and distribution to clients
Integrated
email, texting, and letter campaigns
A
library of professionally written marketing content
High-impact
templates that can be customized for any agency
Marketing
automation allows agencies to program high-impact client communication tasks so
they can do more in less time. Though the beauty of automation is powerful,
it’s missing one critical element: the human touch.
CRMs
(Customer Relationship Management systems) bring that human touch. The
human connection brings the personalization prospects need to become customers,
and customers need to become long-term clients. While marketing automation
provides context on where a lead came from and what they’re interested in, a
CRM helps producers implement a targeted outreach strategy to bring the
lead home.
Critical
CRM uses include using it to:
See the
complete prospect journey, including the last contact
Understand
a particular individual’s or segment’s interest and concerns
Receive
daily reminders to stay in touch and follow-up at a determined pace
Send
alerts to remind of scheduled calls, meetings, renewal dates, or other
important events in the prospect or customer’s life
Get the Sales and Service Solutions You need with Partner Platform
Partner
Platform brings the power of the CRM and marketing automation combo, along with
a connected Client Portal, Agency-Branded
Mobile App, and website, providing
all the data agencies need to customize interactions for their prospects and
customers.
And, we
continue to add tools to grease the wheels of the CRM-marketing automation
machine to meet the growing demands of our Partner Platform agency family. See
for yourself – view a demo or contact us at [email protected].
If you describe your insurance agency management
system as “fine,” you’ve got a problem. Something so central to your agency
operations should be operating at a higher level than “okay.” If you’re
patchworking numerous systems from accounting to doc sharing with your
management system or relying on a self-created workaround to make your system
function, you need to take a step back and ask, “Is ‘fine’ good enough for us?”
As the way we do business changes, so, too, does
the way we market. If you’re looking for ways to up your marketing, try these
insurance marketing strategies to help your agency bring in business and grow
your base
There is no perfect time for a fresh start – the time is always right to take stock, re-evaluate your processes and goals, and make some changes. This applies to all aspects of your agency, including your agency management system.
Quality management systems and providers evolve with the changing market. Are your system and provider keeping up? Or are you seeing prices go up with little to no changes in your management system experience? Take a critical look at your agency management system and provider, analyzing if you have everything you need to serve your customers and grow your business today and tomorrow with this “fresh start” checklist.
Whether you know it or not, data and database management significantly affect your insurance agency management. As the industry becomes more competitive, managing and using agency data are vital to identifying and amplifying your agency’s value.
With a quality management system and insurance CRM, you can target better quality leads, improve marketing, and grow your business for years to come.
The Partner Platform 2021 National Learning Event took place last month, spanning two days from October 21st to 22nd. The all-virtual event brought together over 500 Partner Platform agencies nationwide and a host of Partner Allies, Partner Platform team members, and...
