Insurance adverstising

Hi everyone,

How better can we advertise insurance as a business and also as a better investment option to the customers.

A advertising works well for all types of business for insurance it seems does not work that much. Why is that so?

I am like thinking of some ideas through which one can sell insurance products well to people in the market.

bishika

What advertising have you already tried bishika?

Hi,

I have already tried brochures, pamphlets etc. but these seem to have less impact. For insurance needs a bit of awareness among people so how do i do that.

One thought that was coming to my mind is that of events organizing within various verticals and a sort of co-branding so that more people become aware of the products.

But what more can be done is something i am thinking about.

bishika

I believe that as agents we have to do what ever we can to promote our products. I have found that warm prospecting wroks well.

What message do you use when advertising with pamphlets, flyers etc?

Try this... create a postcard with a picture of two smashed cars or a burned down home. Pose the question... how much full coverage do you have? On the back say... insurance is about money. Not the money you pay your insurance but the money your insurance company pays you when you suffer a covered loss. Let's review your policies to make sure your claim is handled the way you expect. Call us today. No cost. No obligation.

Or something along those lines....

BIG QUESTION...I have been involved in insurance marketing, advertising and direct marketing for some 30 years now...can't say I know the answer. There are only 5 principles that one has to always keep in mind..

1. Your advertising ROI must be higher than the Investment ROI. Otherwise it would seem like your existing policyholders are funding your new acquisitions
2. The message is truthful, no hype.
3. The prospect must be given the opportunity to ask questions, clarify, seek alternatives, be properly advised before he purchase the program.

The current financial crisis has caused a loss of credibility for all financial institutions. Advertising and promotions will have a far more challenging role than it ever had before.

Very good.

One point in your example that the majority seems oblivious to: The graphic (smashed cars) is in line with the story. So many insurance ads ignore that principle.

Geico, of course, uses that cartoon Gecko for brand name recognition. That is different. Their "message" is always about reducing premium costs.

__________________
www.acecoldiron.com

bishika

For anyone to give you advice on how to advertise your insurance business without more information from you would be the same thing as; calling the doctor and telling him you have a headache and he writes you a prescription without an examination. If you will answer some questions for me I can give you some advice that may help direct you.

1. What type of insurance do you offer? Is it auto, life health, home owners, etc.?
2. What age demographic are you trying to reach? Is it male, female, ages 18-49, 25-54 or 35-64?
3. What type of person are you trying to insure? Is it high risk?
4. Are you trying to reach the business clientele?
Workmen's comp, general liability, etc.

These are a few of the questions that need to be answered to be able to give you good advertising advice that will bring you results from your advertising. Remember...advertising is suppose to be an investment and if it is done properly you will see a return on your investment.

MP

I guess if you have an agency system..then you will find that agents do moderate the immediate effects of advertising. The long term psoitive effects do remain.

If you are in direct marketing as I have been, you will see a more immediate impact. A News page Ad will create response for a whole week peraking on the second and third day.

Its hard to compare whether insurance does better or worse tha other products

Of course, an offer of a free bar or soap, or free pizza is probably going to get you more response than free insurance.

But remember an insurance contracs comes with renewable options... your future income stream is more assured than for many other products...hence ROIs are stronger by that fact.

Insurance ads also be creating less excitement because most insurance companies use rather conservative images in their advertising ...and are very careful to preserve their image as a respectable, trust financial organization.

Perhaps with the current economic crisis which has substantially reduce the credibility of financials, we may see more insurance ads in the like of Nike Shoes, Coke or Pepsi.

And why Not?

bishka

Have you tried TV or Radio yet for your advertising? I have seen it work and work quite well depending on the type of insurance you offer?

__________________
Martha Prince
Advertising Executive
http://howtosalemedia.blogspot.com/