How Can Branding Help Me Grow My Insurance Business?
Creating an effective brand presence is often the key difference for successful Medicare insurance agents.
Dictionary.com defines the term ‘brand’ as “the kind, grade, or make of a product or service, as indicated by a stamp, trademark, or the like.” This definition hearkens back to the origins of the term when ranch owners would brand their cattle with hot irons. While the context today is very different, the core underlying principle is the same: to create an impression that’s instantly identifiable and memorable. This online definition, however, fails to capture the whole essence of what it means to effectively brand your business because it only references the visual aspects of branding. Today, there’s a lot more that goes into creating an effective brand. In this article, we’ll discuss branding a bit more holistically as we demonstrate how it can be a powerful force for increasing your insurance sales.
Branding is much more than a logo and consistent color scheme. While these components are very important to building your brand and shouldn’t be overlooked, branding also encompasses your company’s name, tagline, unique approach to providing services, and the feeling prospects & customers have when either viewing your marketing materials or experiencing your services. In this way, your brand does more than elicit memory recall, it establishes your customers’ expectations. In short, your brand is the public perception you create for yourself and your business.
Providing a clearer picture of what a brand is helps with understanding how creating an effective brand presence can lead to more sales. Establishing a distinctive business name, cultivating a unified voice or persona for ad messaging, developing a tagline that delivers your promise to your customers, designing a visual identity that is memorable & recognizable, and creating this brand consistency throughout your marketing communications all help to differentiate you from the competition. Someone once said that the entire purpose of marketing is differentiation, and that point is hard to argue. Brands that occupy a unique space in the market relative to competitors attract new customers and retain current clients at higher rates.
During the initial phase of developing your brand, the matter of visual identity (logo, color choices, font selections, etc.) is bound to be one of the first issues you evaluate – and for good reason! Just make sure to address the other elements that contribute to the feeling and expectations you want your prospects & clients to experience. Asking these questions can help:
What personality will shine through in our brand (friendly guide, helpful neighbor, optimist, etc.)?
How will our brand position us as different than our competitors?
Why do our current clients trust us and how do we communicate that in our brand story?
What five (or fewer) words accurately describe our brand?
Exactly who is our target audience and how can we use language that’s familiar to them?
On its face, the prospect of building a lasting and recognizable brand within your community may seem daunting. Rest assured the process is made easier with an FMO partner that invests in its agents’ success. As you prepare to create your brand presence, make sure you’re contracted with an FMO that goes beyond providing basic exercises and truly invests the time & resources to help you develop, cultivate and grow all aspects of your brand identity.
As a National Marketing Organization that works with thousands of independent agents, we understand you must generate leads and stand out from the competition in order to grow your business. That’s why we work diligently to provide the resources necessary for successful marketing. If this information is valuable and you want to know more about the services we provide our Medicare agent partners, please contact us at email@example.com or 888-745-2320.