In this episode of the Insurance Marketing Brain Dump Podcast, Keagan Henson of BriteBee and Chris Paradiso of Paradiso Insurance are at the Liberty Mutual Safeco Event to talk with Chuck Blondino, the director of agency capabilities and programs at Safeco, about how an #insurancemarketer can help your business.
About Chuck | 0:48
Chuck started his #insurance career as a commericial interwriter, manager, and territory manager, and more, 25 years ago. 15 years before that, he started a carpet cleaning franchise. Chuck understands the struggles that business owners go through which fires his passion for helping small business people grow. He expresses how independent agents need to do more than just sell, they need to build trust and credibility within the community.
Chuck's 3 Pillars for Success | 4:22
1. Revenue | 4:42
When it comes to revenue, agents have to get better at tracking their business. Chuck believes that only 5% of agents in the industry truly understand where the business comes from. Asking the simple question, "how did you hear about us?", can put you in that 5%. Tracking and understanding marketing really helps revenue. Chuck learned that 56% of high growth agencies have someone on staff helping with marketing. A marketer helps you with connecting, building your brand, generating leads, and building trust, which is very important for increasing revenue. Safeco has a marketer development program which is a full time program that helps agents when they are ready for full time personnel. There is also a part-time program called agency marketing essentials which will be available in early 2020. There are many ways to increase revenue but, the average growth rate for an agency with a full time marketing staff is about 23%.
2. Retention | 14:37
Social media marketing channels like instagram, twitter, and facebook, are an easy way to increase retention. A common way to lift customer retention is "Humanizing". Humanizing is the process of sharing personal things on your platforms as opposed to always just selling. Being real, personal, and vulnerable on your channels will allow people to feel more comfortable with you. When your customers are comfortable with you, they have a higher chance of staying as well as referring new customers.
3. New Business | 15:30
A recent study of high growth agencies showed that they are growing policies in force, not written premium, organically. 7 of the top 9 methods of growth were referral based. It is tough to see how a marketer can help your agency when all of the producers are doing it individually. However, the producers are only reaching small groups of people. A marketer has the unlimited potential to get your brand out to the world and draw people in on a more consistent basis. Chuck explains that people will shop online, but the most viewed pages of an agency's website is the about us and contact us page. He shares the importance of having more than just a nondescript paragraph. You want to build a personal connection with your potential customers here. Staff bios and photos of staff outside of the office doing something they love will create a personal connection without ever talking to each other.
Getting started as an Agency | 18:43
There are 5 core things an agency needs to do. Chuck's program outlines the 5 things, but first, start a welcome kit that includes your referral program. Also, updating social media, websites, and e-news letters will allow you to communicate with the community in a proactive manner. There are templates and more on these 5 core things taught within the program. Chris emphasizes the importance of reinvesting a starting with retention. Retention is like having diamonds in your backyard, you just have to go dig for them. The average number of policies per agency in the IA channel is 1.6. Chuck tells agents that are below 1.6 to not do anything they teach. He wants them to go cross sell their book until they get up to 1.6. Once you get there, you can go through the course and push yourself to get higher and higher.
Chuck's final piece of advice is to immediately hire a part-time marketer.
Check out the Marketing Development Program here :
https://www.safeco.com/agent-resources/become-partner
To Learn More about BriteBee.com:
WEBSITE: https://britebee.com
FACEBOOK: https://www.facebook.com/BriteBeeCo
INSTAGRAM: https://www.instagram.com/britebeeco/
TWITTER: https://twitter.com/BriteBeeCo
LINKED IN: https://www.linkedin.com/company
Learn More About Paradiso Insurance & Paradiso Presents:
WEBSITE: https://www.paradisoinsurance.com/
FACEBOOK: https://www.facebook.com/InsuranceCT/
INSTAGRAM: https://www.instagram.com/paradiso_insurance/
TWITTER:https://twitter.com/paradisoins
LINKEDIN: https://www.linkedin.com/company/paradiso-financial-and-insurance-services/