The sad fact is that the insurance industry is highly fragmented with a low preference of brands. Popular companies such as Geico, Progressive, and Esurance rely on mascots and pain humor to reach their target customers. The problem with this model is that it doesn’t build relationships, it only brings brand awareness. But what about brand loyalty?
Local companies have a unique opportunity to reach out to their customers on an emotional level and build trust from the beginning, and trust leads to loyalty.
What you need to understand is the difference between the business of your business and the business of your brand. The business of insurance companies is to provide insurance protection, good rates, and more. But your brand is all about what you offer on an emotional level – who are your customers when they are using their brand?
A local insurance brand can steal the market from larger companies by targeting an emotional need instead of relying on cheesy mascots to spread the word about their services.
Once you have an idea about how you will market your business, it’s time to move onto the advertising and build a following in your local community.Check out these 10 steps on how to make the local community aware of your insurance company and choose you over your competitors.