What ideas to mix up marketing when you've become stagnant?

[Jessica Durphy]

Hey there .. You may typically find me in the Medicare forums, however, I began an agency in Winchester KY as a Satellite office based out of PA! When moving here, (not knowing a soul) I have grown a business of up to 1020 new clients within 3 years! It has been amazing... And very rewarding to say the least! Yet, I find myself scratching my head because I have hit a slump, a stale place.. If you will! I have 1 Licensed agent and Commercial producer other than myself working in my agency!
I've ran billboards, postcards (AMAZING RESULTS initially), newspaper ads (not the plain canned ads), a monthly coupon eddm money saver booklet, Facebook, Instagram, Rocket Referrals... Etc... I've been very proactive in marketing!!
You other agents who want to grow your businesses.. Profitably and productively- what are you doing when you see the leads and quote generations slowing down!?? How are you making your phone's ring again!? I would love to know!!

I've even tried the "shock and awe" approach... My community wasn't very receptive to that.. They seem to like the "nice girl" approach. I'm very active in our community- hosting several events, expos, community bed give away, movie nights for families... Etc.
Please help with other ideas!

I do ask for referrals, just in case ..

 

[BADTROUT]

Take every dollar you are spending on all of your marketing and invest it back into your client base. You cant rebate, you can entice, but you can pay for referrals, meaning the opportunity to quote their friends and family out.

I knew a guy once that used to pay a dollar for a referral, if he got one the next week, he paid 2 dollars, each consecutive week he would add a dollar. Even week 52 (he capped it) He would pay $52 for that referral.

I never had the organization or guts to try it, but he made money hand over fist on that. In his words, the ROI was at least 10-1.

Use your existing client base and you have potentially 1000 little voices for your cause.

 

[somarco]

postcards (AMAZING RESULTS initially),

Why did you stop?

If you find something that works, repeat it.

Advertising folks know that it takes about 7 impressions before people will take action.

Everyone knows what McDonald's is, yet they keep advertising.

Why?

Because it works.

Look at ROI for each kind of marketing. Repeat those things that generate the highest return, drop the ones on the low end. Substitute something new for the ones dropped.

Sometimes the low ROI advertising just needs to be tweaked. New message. New visual image. New demographics.

And sometimes that form of advertising just isn't effective and needs to be canned.

Look at your competition. If they are repeating the same ad (on local buses for example) you can bet it is working for them.

 

[Jessica Durphy]

Why did you stop?

If you find something that works, repeat it.

That's a fair question... I didn't notate that I've WORN it out! I used different postcards throughout the last 3 years~ They WORKED for the first couple years... now, they're just not generating any more calls! Well, Not enough to make it worth the investment. I totally agree with you. I'm attaching some of the postcard samples I've used in the past. They very good, and eye catching.. however, they're not getting people to move here in Winchester any longer.

Look at your competition. If they are repeating the same ad (on local buses for example) you can bet it is working for them.

Also, another beauty that I have in my area.. NO ONE IS MARKETING, except the local State Farm guys using the same old State Farm ads. I'm the only female insurance business principal, in a "Good Ole' Boys" community. Coming here was a HUGE feat, and we have done extremely well given the uphill climb, But I will say, I have a great reputation in the community thus far... and people trust me! I've got tons of good reviews and ratings.. but my "newness" to the area and "being a female" have also been a hindrance.

BADTROUT~ what an excellent idea... I'm not sure that I can quite do that here in KY.. but such an excellent idea!! Thank you.

 

[somarco]

I don't believe you identified your product line(s) but it appears to be P&C. Probably a mix of personal and commercial lines.

Network, network, network.

Some females prefer to work with other females. (You can say the same for minorities, ethnic groups, etc).

And some men prefer to work with females . . .

Regardless of gender if you convey confidence and authority most folks will work with you regardless. Sometimes we put ourselves in a box and don't realize we have the ability to cross gender and age differences.

When I started out most of my clients were older and male. Over the years it has changed significantly. Now mostly female and about my age.

I hate public speaking and networking. But some are very effective. I know a few women that are VERY good at both.

All of us hit a brick wall from time to time. Push forward. Find ways for folks to come to you. Make yourself into an authority and people will seek you out.

 

[Steven Chesnut]

How to build a $10M Agency. Book and training by Dr. Billy Williams. Inspire a Nation. Videos kn YouTube also. Step be step info. Steve

 

[shawnmwalker]

Video #5 is finally Here: In this video we explore to topic of……



Lead Generation vs Lead Determination

 

[garzawin]

Hire 2-3 telemarketer to work in office and dial internet leads and transfer once pre-qualified. Also, branch out to the entire state of KY and PA.

Also, go after the small business market. Small business owners in PA have been very receptive to marketing efforts.

Combine postcard marketing with a follow up phone call has been extremely effective.

 

[Markthebroker]

I 100% agree with Walter White (BadTrout), though I would use a different method. Who knows, his might be better, though.

Why on earth are you spending money to market to people you have never met, when you have a client base of over 1,000 people who do business with you and can refer you more business? That honestly sounds ridiculous to me.

You say you ask for referrals as a sort of a side comment. How many are you getting? Referrals at 100% of my incoming business. I average 3 referrals per sale when I ask, and I'm not even leveraging it all the way because frankly I don't need or want more business, frankly I want to spend more time at my vacation house, not less.

Are you getting 3 referrals per sale? If not, you're not doing it right. Asking for a referral is like asking for a sale. One person can do it without any skill and structure and no results, and the next person can do it and be buried with business. My last sale I met with I had the owner walking me to his neighbors and introducing me, and calling his friends and telling them to meet with me. I suggest you watch the video below as a guide. I've also put an example below. Or you can keep spending a crap tonne of money on billboards and mailers to people that don't know you for a lower conversion. Up to you.



Here is an example of the sales process in regards to referrals. Normally I'm not this aggressive asking for referrals since I am already getting plenty, but this example displays all the techniques.


So, I meet with an auto body shop. I make it clear I almost exclusively work by referral, and I'd be asking him later for referrals for any other businesses that may be also interested in speaking with me (referral opportunity #1). I mention that starting a business is a big risk and frankly kind of scary. Does he have a friend, relative, etc that owns a business that inspired him/mentored him (referral opportunity #2). Most of the shop owners I work with used to work at another shop before they started their own shop. Where did he come from, perhaps I know them (referral opportunity #3), When I was going over his business, I asked if he had any other body shops he worked with or knew as I work with a lot of other shops in the area (referral opportunity #4). Who did he send out to for windshield work (referral opportunity #5). While I was asking about his business, I also asked if he had repair shops he networked with to get business (referral opportunity #6). When I come back and propose, assuming he buys, I'll remind him that I'd like to know if he has anyone else that owns a business that he can think of that may want to talk to me, that's another referral opportunity. Then, I'll pull out a sheet I compiled ahead of time with the 20 nearest large repair and body shops nearby, tell him I am thinking of introducing myself to them, and ask if he knows any of them. If he does, I'll ask for the best contact, and if it's ok to mention him and that he bought from me and I saved him money and gave him a better policy. Then I'll ask if it's ok to call and introduce myself to any of the aforementioned 1-5.


Finally, I'll call back 3 or 6 months from now to check on him. I'll ask if he mentioned to anyone that he moved his insurance, and what he told them. Assuming it was a positive conversation, I'll ask for permission to introduce myself to those people.

 

[Jessica Durphy]

I 100% agree with Walter White (BadTrout), though I would use a different method. Who knows, his might be better, though.

Why on earth are you spending money to market to people you have never met, when you have a client base of over 1,000 people who do business with you and can refer you more business? That honestly sounds ridiculous to me.

You say you ask for referrals as a sort of a side comment. How many are you getting? Referrals at 100% of my incoming business. I average 3 referrals per sale when I ask, and I'm not even leveraging it all the way because frankly I don't need or want more business, frankly I want to spend more time at my vacation house, not less.

Are you getting 3 referrals per sale? If not, you're not doing it right. Asking for a referral is like asking for a sale. One person can do it without any skill and structure and no results, and the next person can do it and be buried with business. My last sale I met with I had the owner walking me to his neighbors and introducing me, and calling his friends and telling them to meet with me. I suggest you watch the video below as a guide. I've also put an example below. Or you can keep spending a crap tonne of money on billboards and mailers to people that don't know you for a lower conversion. Up to you.



Here is an example of the sales process in regards to referrals. Normally I'm not this aggressive asking for referrals since I am already getting plenty, but this example displays all the techniques.


So, I meet with an auto body shop. I make it clear I almost exclusively work by referral, and I'd be asking him later for referrals for any other businesses that may be also interested in speaking with me (referral opportunity #1). I mention that starting a business is a big risk and frankly kind of scary. Does he have a friend, relative, etc that owns a business that inspired him/mentored him (referral opportunity #2). Most of the shop owners I work with used to work at another shop before they started their own shop. Where did he come from, perhaps I know them (referral opportunity #3), When I was going over his business, I asked if he had any other body shops he worked with or knew as I work with a lot of other shops in the area (referral opportunity #4). Who did he send out to for windshield work (referral opportunity #5). While I was asking about his business, I also asked if he had repair shops he networked with to get business (referral opportunity #6). When I come back and propose, assuming he buys, I'll remind him that I'd like to know if he has anyone else that owns a business that he can think of that may want to talk to me, that's another referral opportunity. Then, I'll pull out a sheet I compiled ahead of time with the 20 nearest large repair and body shops nearby, tell him I am thinking of introducing myself to them, and ask if he knows any of them. If he does, I'll ask for the best contact, and if it's ok to mention him and that he bought from me and I saved him money and gave him a better policy. Then I'll ask if it's ok to call and introduce myself to any of the aforementioned 1-5.


Finally, I'll call back 3 or 6 months from now to check on him. I'll ask if he mentioned to anyone that he moved his insurance, and what he told them. Assuming it was a positive conversation, I'll ask for permission to introduce myself to those people.

What an incredible breakdown.. I'm just now seeing this! Thank you for being so thorough. I really do have a heart to grow. I have 1400 customers in less than 5 years, we are doing good, I can't complain, I just want to continue growing.
Thanks!