Selling insurance policies is different from most businesses. What you are selling is not a product/service like a books, toys, cars or a restaurant. It’s a kin to selling an idea – convincing people that they need that insurance policy. Just like any other business, you may find it difficult to sell. This post will discuss how you can market insurance policies in Singapore.
Selling insurance is similar to other traditional businesses in many ways. Competition is high. You compete with established insurance companies that look more credible. How you promote yourself is what will make all the difference. Before we look at strategies, let’s look at some issues facing people who sell insurance policies.
Understanding your potential clients
If you want your insurance company to grow, you have to understand what your potential clients need. So many insurance agents fail because they have no clue about what the target audience wants. They way you approach people to buy your insurance says a lot about you.
Learn to listen more and talk less. When you introduce yourself as an insurance agent, most people won’t even want to continue with the conversion. Some people have had very bad experiences with insurance companies.
You need to approach potential clients as a consultant. Before selling the insurance, have the potential clients tell you all about their insurance needs. After that, offer some free advice about insurance. This will make you more credible and improve your chances of selling insurance. Make sure you also build a good relationship by keeping in touch.
Marketing the right way
You already know that marketing plays a big role in growing your insurance company. The sad reality is, all you marketing efforts will be in vain if you do it the wrong way. There is so much competition in the insurance industry as all companies use various promotion methods.
What determines your rise or fall is how you market. There are many marketing techniques which were good ten years ago but today aren’t. There are others which are ineffective. It is your role to find out the best ones. An analysis is of the industry will help you identify the best promotion techniques.
If you’re here to look for these marketing tips, you are in the right place. Here are some ways to market insurance policies in Singapore.
- Social networking platforms
Are you sing social networking platforms to promote your business? If the answer is no, then you are missing out on tremendous opportunities. It is 2018 and almost every adult with access to the internet in Singapore is a member of a social media platform.
There are various platforms you can use such as Facebook and Twitter. After creating a social media account, keep it active by posting regularly. Post interesting content so that users can engage you. You can do this by inviting users to ask any question regarding insurance. Once you get a huge following on social media, you can easily convert many prospects to clients.
- Use a website
The large number of people on social media platforms indicate that millions of Singaporeans use the internet. Considering that many business transactions occur online nowadays, people are likely to look up insurance policies on the internet.
Setting up a website is thus a smart move for any company. This way, internet users can find you on the internet. Create a simple website that contains some important details such as contacts and where potential clients can find you. Keep in mind that you are competing with other company websites.
You can employ various strategies to improve your rankings on search engines. The first is search engine marketing (SEM). This is where you pay for links for your site to appear on the sponsored section of search engine results.
The other strategy is search engine optimization (SEO). There are various ways to conduct SEO. One is to ensure that your site loads faster and the design makes it easier for visitors to navigate. Considering that most Singaporeans access the internet using their mobile phones and tablets, ensure that your site is mobile friendly. Another SEO techniques is to get high authority sites to link to you website.
- Content marketing
Content marketing is currently one of the best ways to promote your insurance company. There are so many platforms where you can do this-websites, social media platforms and video sharing platforms such as YouTube. People get educated, entertained and informed when they visit these platforms.
One of the best things you can do as a marketer is to create top notch content. For instance, you can create a video where you talk about an insurance topic most people complain about. You then post the video in your website and social media handles. It doesn’t have to be a video, it could be an article or an email you send to your clients.
- Reviews
No one tells you this but reviews are vital to the growth of your business. A large number of Singaporeans look at reviews when deciding if they will buy insurance from a certain company. Reviews say a lot about your insurance policy. If there are many positive ones, you will land more clients.
Potential clients can find reviews on platforms such as Yelp, Google reviews and even Facebook. Always ask your clients to give a review after you have sold them an insurance policy. It is equally vital to address negative reviews. Find out why a certain client was dissatisfied and work towards making them happy.
- Build your brand
Building a strong brand is also a great marketing strategy. Once you have a big brand, you won’t put so much effort into marketing. You branding should be consistent. For instance, you need to put the same amount of effort on each social media platform as you market. Reviews on various platform should reflect the overall image of your company.
Promoting your insurance policy isn’t such a daunting task once you know what is required of you. Use all the above marketing strategies and watch clients troop to buy insurance from you. As you market, you may struggle with internet marketing strategies such as SEO and SEM. Media One, a top marketing agency can help you market to internet users.
