Marketing Tactics for Niche Markets
Marketing a Life Insurance Business
Marketing plays a central role in any company. But when it comes to a life insurance business, your ability to market your brand can be the deciding factor between barely making it and achieving stellar industry success.
In a life insurance business, a great business model doesn't guarantee solid revenues.
What could be more rewarding than selling life insurance?
Tenacious messaging and the identification of new delivery channels can be an on ramp to life insurance business marketing success.
Directories
There are many different kinds of directories in which to list a life insurance business. When all of your competitors are listed in a directory, you have no choice in the matter. To keep pace, competitive businesses must include the same directories in their plans for marketing life insurance businesses in a region or territory. Although there are plenty of free directory opportunities out there, some directories charge a fee to include your business in their listing. Regardless of whether it is a premium or free listing opportunity, every directory needs to be evaluated on its own merits. Some directories may also let you list more than your name and contact information, so be sure to ask whether your listing can include a logo and other information about your business.
Media Monitoring
Some marketing initiatives lend themselves to simple measurement while others are more challenging. Direct mail can be evaluated by tallying the cost of inputs (e.g. a premium mailing list, printing, postage, etc.) and measuring the number of customer responses you receive from the campaign. The difficulty comes when you are tasked with quantifying market presence and brand influence. Fortunately, media monitoring has the ability to give your life insurance business a sense of market presence and other variables that are difficult to quantify. Even more importantly, media monitoring can alert you to negative commentary early, giving you the opportunity to counter negative mentions with more accurate and more positive messaging.
Strategic Partnerships
When multiple interests join together in a strategic partnership, they gain life insurance businesses a new approach to the marketplace, rooted in the achievement of shared objectives. Joint ad campaigns, mailings and other marketing initiatives can be conducted on either a short- or long-term basis, as long as each partner is involved in the creation of messaging and has approval authority over the content that is released.
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