As money gets tight, many agencies instinctively react by cutting back advertising. To save money, they decrease the size of their Yellow Pages ad, drop local newspaper ads and radio spots, and cancel direct mail projects.
No one discounts the importance of advertising, even when business is down and ads regrettably are cut. There is, however, an attractive alternative that will enable you to keep your firm's name in circulation without spending money: publicity.
Because it's free, publicity is downright inviting. But many agencies fail to take the time and effort to use it to their advantage. This article will lead you down the path to free advertising through publicity.
Publicity consists of any information or action that brings a person, event or idea to public notice. You must supply information that is factual, interesting and newsworthy to the media. And since you don't directly control the media, you gain publicity only by earning it through interesting material.
Publicity shapes the way customers, prospects and employees view your agency. Use publicity correctly and you control the public's perception of your agency. If you don't control that perception, competitors will do it for you, and not very favorably.
To take advantage of publicity, first devise a plan and be clear about your message. You must:
- Define you publicity goals.
- Identify your audience.
- Appoint someone to take charge of publicity.
- Measure your success.
To help meet your publicity goals, you should let the public know what your agency is and what unique services and products you offer. Reinforce to customers and prospects your agency's professionalism and dependability. Create an accessible, cordial environment by recruiting qualified employees from the community.
Focus on persuading and motivating your audience to call your agency for a quote, to purchase insurance, to refer their friends and associates to you and to keep their insurance coverage with your firm.
Identifying your target audience is critically important. Are you trying to reach new large commercial accounts? Are you attempting to develop a market niche? Or are you appealing to the general public to increase your personal-lines book?
If you take time to identify your audience, you'll know where to go for publicity. You'll get the right message to the right audience through the right medium. If your agency wants to reach boat owners, for example, consider writing an educational article on insurance for a yacht club newsletter.
Appoint someone within your agency to manage the publicity program. This manager will coordinate details of the program, work with the media, write articles and press releases, promote your agency's personality, and ensure that messages to the public are consistent. The manager will keep all employees apprised of all publicity efforts so that phone calls and inquiries are handled appropriately.
Once the publicity plan is developed, begin contacting the local media to establish a relationship. Consider networking through community associations (Lions Club, the local chamber of commerce) and sponsoring events like the local Little League, symphony concert or neighborhood marathon. You might have to cold call newspaper and television editors, however, just as you call business prospects. Send the editors a press kit with your agency's brochure, a list of key customers and reference letters. This helps them remember your name.
Follow up by routinely sending out press releases. Use them to announce new employees, the landing of a large or influential account or a local event you'll participate in or sponsor.
After establishing relationships with the local media, pay particular attention to trade publications. Most insurance magazines are hungry for features on agencies that accomplish something unique or revolutionary. Call the editor to learn what kinds of features interest the magazine and follow that style.
These features can describe how your agency penetrated an interesting niche market, how you used automation to increase productivity and profitability, or how creative sales ideas have benefited the firm and customers. Once the article is published, make reprints to include with your direct mailings to prospects and to insert into your customers' monthly statements. The article positions you as a professional expert. And people like dealing with pros.
If writing isn't your forte, contact community or trade associations about public speaking. Many IIAA or PIA chapters require panel members or speakers at local meetings. Community groups are always looking for capable luncheon speakers. Get your name on their lists. Of course, your topic will recount one of your agency's recent successes.
Contact your automation vendor and volunteer to be interviewed whenever their newsletter needs a customer testimonial or profile. Volunteer to conduct a workshop at a regional or national users group meeting. Participate with the vendor's product committee. These activities provide free press that can increase your book of business and your value to the insurance community.
Regularly evaluate your publicity program to determine its effectiveness. Conduct a before-and-after survey to evaluate gains. For instance, first call several people in the community and ask what they know about your insurance agency. After three to six months of organized publicity, make more calls to see how awareness improved.
In a soft insurance market, you must find cost-effective advertising to keep your agency's name in front of prospects and customers. Obtaining publicity is one way to do this.