Whether you’re a seasoned insurance veteran looking to revitalize your customer acquisition strategy or a newcomer eager to hit the ground running, the following five strategies are designed to help you attract more clients, enhance your market presence, and, ultimately, drive your business forward.

Social Media

According to Statista, people spend two hours and 23 minutes per day engaged in social media. If you’re getting your message in front of the right people, social media is a great way to generate additional business to supplement your in-person strategies.

Treat social media as if it were a referral partner; be proactive. If you’re not consistently posting, there’s nothing for potential clients to engage with. According to research from Top Performance in Sales Prospecting, securing an initial conversion with a new client takes an average of eight touchpoints. This doesn’t mean you have to post every day, begging for new clients and leads. Instead, post organically about your life, recognize others’ successes, and share helpful information about insurance. The ultimate goal is to get your network thinking about both you and insurance.

Put something on your calendar to ensure you’re posting consistently and dedicating time to building your online presence. This task should not take up a large part of your day, but the payoff of consistent and engaging posts should make up for whatever time you do spend.

Client Referrals

Your clients are like an investment account: if you invest in them, they will give back to you in return. Over time, you may find that much of your business comes from your existing book of clients instead of new ones. When the market slows down, you may even find that client referrals are more sustainable in the long term.

Client referrals are a lower barrier to entry. Often, all it takes is actively listening to know when to ask for a referral or even simply taking 30 seconds to bring it up. As people are bought into your success, it’ll be easier to make the direct ask. Asking for referrals can be personal for some, so choose a tactic (over the phone, via email, etc.) that works within your strengths. Be genuine and make your request personal, and whatever you do, avoid sending a mass email or social media post pleading for referrals.

Referral Partner Marketing

Marketing yourself to referral partners can help provide a consistent influx of new leads for your business. If you can partner with another organization that sells services to a similar client base, your relationship with your new client will already have a strong foundation.

It’s best to build a wish list of organizations you want to partner with and then work slowly to activate one or two at a time. Avoid engaging in too many partnerships because that may cause you to feel spread too thin. In your conversations with possible referral partners, prioritize promoting yourself over your business and offerings. There’s only one you, so build deep personal relationships with your referral partners. Call your active referral partners consistently and schedule in-person meetings to strengthen your relationships.

Spider Networking

Spiders weave intricate connecting patterns and position themselves strategically within their web. The same theory applies to spider networking. Imagine that one of your top loan officer referral partners works mostly with one realtor, but that realtor refers their clients to a different insurance agency than yours. Typically, the realtor’s go-to insurance agent is going to win the client’s business, so it’s important to also be on that realtor’s referral list to secure your relationship with the loan officer. This approach helps protect your partnerships and also gives you a higher market share.

How do you do this? Meet your referral partner’s referral partner. Create a network that’s bigger than one relationship. If your loan officer’s realtor works with two other loan officers, you should get to know them on a personal level as well. Ideally, the web continues on and on.

Networking Events

Pick a networking group to join. While networking groups may not be your main source of leads, they’re a good supplement to your marketing plan. Invest fully in the group, connect with your peers, and even plan to become a board member to show your dedication. However, avoid grazing or hopping around networking groups, which can distract you from putting valuable time into your business. Pick one group and put your all into it for the best results.

From leveraging the power of referrals to engaging in social media and local community events, the key to expanding your client base lies in building lasting relationships and establishing trust.

Want to explore insurance franchising? Reach out to Goosehead’s Franchise Development team to learn more about whether owning an agency is the right career path for you.

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