Let’s face it, as insurance brokers we are not expected to be design or branding experts. For that reason, most SME brokers have been left behind when it comes to branding that is pleasing to clients and simultaneously carries the vision of the business. Have you got a brand which stands out to your clients and which they can always rely on?

We have put together some tips to guide you in branding your brokerage like a pro.

1. Get a good logo

A logo is a visual representation of your business. Logos come in different forms like word only logos, picture logos, abstract logos, symbols or a mixture of all. The logo is only limited to the creativity of the designer.

To get a fitting logo for the insurance broker market we believe that it should be simple, easy to read and visually appealing. Insurance can be a very complex thing and most clients look to insurance businesses because they believe that you can simplify the whole process for them. Let your logo reflect that.

2. Have a slogan

A slogan typically summarises the value that a business is offering to its clients in a few words. Slogans should be catchy and also be relatable to the pain-points of the client. If your businesses’ vision is to make insurance available and affordable for a majority of the uninsured, then you can use a slogan like “affordable insurance for all”. This sends a direct message to your target group and also meets a challenge that they face in insurance, namely affordability in this case.

3. Pick appropriate memorable colours

Have a good understanding of the psychology of colours and the impact that colours have on clients. Colours convey various emotions if mixed properly. Your colour choice can set your business as a serious no-nonsense corporation or as an informal startup. The colour wheel below highlights warm and cold colours.

You would want to use vibrant colours which convey a sense of happiness and joy. Colours work subconsciously on the minds of your clients so it is important to get your colour scheme right when branding your business.

4. Get online

Clients now expect every business to be well represented online and through social media. The world is moving online with more potential clients deciding to do their research online before buying. As more people move online, broker who refuse to adopt an online presence will be left behind, a bit like House of Fraser and other high street business who refused to adapt and therefore fell.

You can build your brand on social media by responding quickly to inquiries and messages through your social media channels. This requires the work of a professional as it is time-consuming. Get in touch with us if you require an affordable social media manager for your business.

5. Deliver on your promise

Let your words count by delivering on your brand promises. If you promise to get your clients the very best insurance deals, then make sure you fulfil that promise. Actions speak louder than words so the more promises you achieve as a business, the more credible your brand becomes. Clients will naturally refer a strong brand through word-of-mouth to their friends and networks.

Focusing on these tips will guaranty a strong brand. Remember that it takes a lot of effort and time to create a strong brand, but it takes even more to maintain that brand. Be consistent in your approach and with time you will have a competitive brand which can rival any major player in the industry.

Give us a call on 02071172953 or contact us here if you want to talk about branding your business.

We recently wrote a blog about GDPR legislation and how it will affect insurance brokers come the 25 May. The response we have had is unbelievable.

When it comes to marketing, we keep getting the same questions around prospect lists and clients’ consent. So we put together this blog to share our thoughts and some of the work we have been doing to help brokers prepare for GDPR.

Here are our top 5 questions from insurance brokers, and please remember, this only applies where personal client  data is involved:

1. Can I carry on sending my newsletters after GDPR?

Maybe,….You can send your newsletters to existing clients if they do not promote your policies and services, and would therefore be classed as relationship communications.

For newsletters promoting your policies and services, you may be able to send them if the terms of business agreement (TOBA) you have with your existing clients, allows you to market to them. So our number 1 tip is check your existing TOBA. If your TOBA does not mention this, then you need fresh consent.

Our best tip- Check your existing TOBA

For lapsed policies and prospects, you won’t be able to send them your newsletters unless you already have their consent to this. Our suggestion is that you get consent before 25th May.

 

2. What about cross-selling, should I get all my clients’ consent?

Yes,….To be able to send marketing material (direct marketing) to increase your cross-selling rates, you must have your clients’ marketing opt-in consent. You could rely on your existing TOBA if it has the right terms, or get fresh consent in order to be GDPR compliant

Going forward, make sure your staff are getting consent at point of sale or through your renewal process. Remember, this needs to be clear and unambiguous.

 

3. What will happen to my lapsed clients? Can I still contact them at their next renewal?

No…….Any consent you have around marketing is likely to finish when the policy lapses, and the business relationship ends. If you want to be able to market to lapsed clients, we recommend carrying out a consent exercise before the 25th May, else lapsed clients will fall outside your consented client lists and will be redundant.

 

4. What about clients I quoted but could not convert? Can I contact them at their next renewal?

No,….Without consent, you won’t be able to contact them at their next renewal. We therefore suggest that you advise all your staff to start getting consent when a policy is not converted. This can be a simple statement such as “Sorry we couldn’t find you a suitable policy this time but we would like the chance to find you the right policy at your next renewal. Are you happy for us to keep your records and get in touch again?”

 

5. I have bought prospect lists, can I carry on using them?

Maybe,…We recommend that you contact the list providers and get written confirmation that their lists are GDPR compliant. This should confirm that they have received appropriate prospect ‘opt-in’ consent before passing this data to you. If not, then this data would not be GDPR compliant. We still suggest you run a consent exercise to find out which potential clients are happy to be contacted. We recommend you do this before the 25th May.

 

Our GDPR consent programme

Getting consent for thousands of clients can be a difficult job. Email can be a quick way of achieving this, but it must be done right. Remember, if you have 5,000 names on your prospect list, you want to get as many of those consenting as possible or else you lose valuable potential clients.

Crafting the right email to get consent is a skill, so practice and get it right so you can get as many ‘opt-ins’ as possible. Managing this is a full-time job in itself so plan to spend quite a bit of time cleaning your data, segmenting your clients based on the policies they have, writing appropriate emails, having the right consent wording and also monitoring who is consenting to what and keeping a rolling database of this.

We have provided our 3 step consent process (below), which we currently run for our broker clients. This is designed to get as much consent as possible. Feel free to trial it out.

 

For further information or to just have a chat about this process, feel free to email us: info@thebrokerlink.com

Disclaimer: The information provided in this blog is based on general observations and should not be considered as legal advice. Please contact your own qualified legal advisers for appropriate solutions.

GDPR legislation is coming on 25 May 2018, are you ready for it?

The General Data Protection Regulation (GDPR) is the EU’s new regulation on how personal information can be used, and it’s due to be come into force on 25th May 2018. Do you have new marketing controls for how you deal with existing and potential customers? Then read on.

GDPR aims to replace the Data Protection Act (DPA) and the Privacy & Electronic Communications Regulations (PECR) which are long overdue for revision.

Penalties are due to increase significantly up to a maximum of €20 million or 4% of global annual turnover. The question is, are you ready for it?

The key points to note are:

1. New subscribers will need to confirm that they want to opt in.

This affirmation must be via a dedicated subscription form, or via an unticked checkbox in situations where you’re collecting data. Remember pre-ticked boxes or “Tick here to opt out” will not be permitted for your marketing.  You will need to be able to show that your existing clients opted into all your marketing in order to comply with GDPR legislation.

2. You will need to tell subscribers how their data will be used.

For example, if they give you their email address to download a free article, you must tell them if you plan to use that email address for any other marketing purposes including cross-sells. Remember, you must give existing and new clients the option to choose which marketing they would like. The starting point is to be aware of all the marketing you do and to ask clients permission.

3. You will need to keep a record of consent.

For example, if you use a provider such as Campaign Monitor they will store details of how and when a recipient subscribed along with their IP address. This would help you in meeting the GDPR legislation. The UK government has just issued guidance and we will give you more updates in the coming months. Note- your ToBA disclosure might not meet the new consent rules.

4. The following commonly adopted scenarios will no longer apply.

(i) An existing business relationship will no longer imply consent- for example, where you have an existing target list along with their email addresses and contact details. You will need to get in touch with them to get their consent.
(ii) The current soft opt-in where you can email people if there is an existing business relationship.

There is, however, a “legitimate interests for processing” test which means in some cases it might be possible to continue emailing a subscriber without the above in place. You can read more from the DMA >>

5. You will need to get your existing data up to GDPR legislation standards.

If you can’t provide sufficient proof of consent for existing subscribers, you won’t be allowed to contact them anymore. You will need to run a re-permissioning campaign.  This includes subscribers you have added using soft opt-in.

What next?

Marketing in the future will rely on attracting customers through content and interactions that are relevant and helpful — not just interruptive selling.

If you want to find out more about marketing in the GDPR age and how to run a re-permissioning campaign to your clients, then simply drop us an email stuart@thebrokerlink.com and we would be more than happy to give you a few tips. Get in touch with us and we will help you stay within the GDPR rules.

The above content should not be used as a substitute for professional legal advice.

Source: http://www.expertiseontap.co.uk/

Is your business ‘marketing-ready’ for 2018? We have analysed the latest trends for insurance brokers and have come up with this checklist to help you prepare for 2018.

All too soon 2018 is here. The insurance broker market had a good year and we are hoping for an even better year. The big push this year will come from those brokers who adapt to the digital age and make use of email, social media and other digital marketing techniques. Digital is here to stay so start planning for it now. 

So if there is a time to take digital marketing seriously as a broker, now is the time.

To get you on your way, we have put together these 5 things you need to consider when hiring a digital marketer, to ensure you grow your business:

1. Define Your Objectives

This is a question you should ask before you hire a digital marketer. Before you hire someone, you should have clear and specific goals that you want the person to help you to achieve. Are you looking to generate more leads for fleet or are you trying to make your business clients aware of your high net worth policies. Maybe you are trying to break into commercial after so many years doing personal lines.

Whatever your objectives, make sure that you clearly define it before hiring a digital marketer.

2. Compliance

Not all digital marketers are insurance brokers as well. As you know, compliance has to sit at the heart of everything we do. So it is important that you always find a marketer who understands the industry and compliance. Someone who knows their TCF from their FCA. A marketer who understands their ICOBS from their social media and has a team who understands what the FCA looks out for.

You will need a digital marketer who understands these terms and can make sure that all your digital marketing efforts are in line with the rules and regulations.

3. Strategy

You want to get more leads and to increase your gwp and you know that digital marketing can help you achieve that. The only problem is how am I going to put everything together? Digital marketing is very broad and can be very confusing, how do you create engaging posts or visuals? Should I use email marketing, or social media, search engine optimisation (and what is that even) or should I use videos, blogs, images, etc? The truth is that all these elements must come together in a usable strategy if you are to benefit from digital marketing.

4. How Much Are You Willing To Spend?

How much of your budget is being allocated to digital marketing? If you spend too little, you may not be able to implement the required strategies to achieve your digital marketing objectives. However, if you spend too much, you will not have enough funds for other important aspects of traditional marketing. The key is to get a balance.

Before you hire a digital marketer, figure out your budget and what is most important to you. How much of it will go into social media, and how much will go into email marketing, or search engine marketing? If you are not sure about how much you actually need to spend then fill this form for a quick assessment.

5. Level of Engagement

Another important factor to consider is whether you need a full-time digital marketer for your business or a part-time one. If you cannot match the Jelfs or your Marsh’s of this world, why not outsource your digital marketing and get it of your hands. Digital marketing is a very engaging job. It has the potential to put your business on the map and get you new customers, but you have to be ready to put in the work else, get someone to do it so you can focus on broking. 

If you need help with any of this, ask for our free advice service- just a conversation and no hard sell.

 

Brokerlink is solely dedicated to brokers and as such we understand a broker’s language.

Digital marketing, if implemented properly, can revolutionize your broker business, and increase your returns exponentially. This possibility, however, depends on hiring the right digital marketer. These 5 factors above, can guide you in making the right choice when hiring a digital marketer in 2018.

 

In the new world of digital marketing, there are countless options, from search engine optimization (SEO), social media marketing, blogging, email marketing, SMS marketing, just to mention a few. Your business and the type of policies you sell determines the strategy you should apply. Whether it is an inbound marketing approach or outbound marketing.

Companies like Aviva have embraced these strategies and seen a 48% increase in policy sign-ups as seen in this case study. For brokers, inbound marketing works. Let’s explore some features of it.

Inbound Marketing

Inbound marketing has been defined in many ways but we agree with the HubSpot definition which says that;

“Inbound marketing is an approach focused on attracting customers through content and interactions that are relevant and helpful — not interruptive. With inbound marketing, potential customers find you through channels like blogs, search engines, and social media.”

In simple terms, inbound marketing seeks to attract clients to your business while providing them with value, whereas outbound marketing broadcasts a message in hope of gaining interested clients.

Content in Context, that is inbound marketing.

Proper execution can cause your brokerage to increase exponentially through gaining and retaining clients who are in need of your policy.

Attracts genuine users

Most insurance brokers are spending a lot of money on outbound marketing ads which may reach a lot of people quickly but the majority of those people will not be interested in any of their policies. Inbound marketing only attracts users who are genuinely interested in your product and hence increases the chances of converting into a sale.

It is cost effective

The best thing about inbound marketing is that you do not have to break the bank in order to benefit from it. Many shy away from inbound marketing because of the false notion that it is expensive. Spending money on a marketing strategy that brings you direct clients who are interested and ready to spend on a policy is much more valuable than spending money to attract ‘window shoppers’ who glance through your services and may never make a purchase.

You don’t need a large budget to run inbound marketing campaigns, rather what you need are experienced professionals who understand both inbound marketing and the insurance broker market. Our marketing campaigns are designed to fit your budget so get in touch and let’s discuss a strategy to gain you more clients.

Long lasting benefits

Most insurance brokers are spending a lot of money on outbound marketing ads which may reach a lot of people quickly but the majority of those people will not be interested in any of their policies. Inbound marketing only attracts users who are genuinely interested in your product and hence increases the chances of converting into a sale.

Increases your influence

Being a key figure of influence in the brokerage market is essential to attracting sustained and continuous clients. The level of content that is produced through the inbound marketing process serves as a very reliable resource to anybody searching for information on policies online.

Your content can open a lot of other doors for which can give you access to even more prospective clients. Set yourself a challenge to start now and remember that it takes time and consistency to start reaping the benefits of inbound marketing.

Get in touch with us for the very best of inbound marketing to help you increase your GWP through cost effective and proven methods.

Feature image source: yourdigitalresource.com

 

Marketing has changed drastically over the past few years and is still changing every day with the rise of digital marketing. One of the most effective digital marketing strategies today is Inbound Marketing.

The days of selling your policy to clients are over…

Inbound marketing has changed online marketing- rather than bombarding clients with direct mail, cold calling and using other outbound marketing to sell to them,…. get them to come to you.

As the name suggests, it is an inward approach that attracts clients by using content marketing, social media marketing and search engine optimization rather than just selling insurance policies to them.

Some of the fastest growing brokers such as Simply Business and Bought by Many are growing exponentially using inbound marketing.

[Watch this great video which summarises what inbound marketing is]

 

Aviva, one of the largest general insurers utilises inbound marketing to attract and convert users online to regular customers. The good news is that you do not have to be as large as Aviva to take advantage of inbound marketing. The right level of content and a well thought out strategy can see you emulating the success of Aviva.

Inbound Marketing is the Future

Inbound marketing is here to stay. As the world grows more and more connected through digital technology, the importance of inbound marketing cannot be overemphasised. Insurance brokers stand a chance to gain tremendously from the benefits of inbound marketing.

The inbound approach is a unique one which requires thoughtful planning and execution to achieve the desired results. A variety of content such a blog posts, infographics, videos, Memes, podcasts etc. can be used to attract, educate and empower users to make the right decision on their policies.

The BrokerLink team are not only experts in inbound digital marketing but we also understand and are focused on insurance brokers and what strategies work within the industry. Contact us now and we will map out a practical strategy that will increase your policy sales while staying in line with all FCA requirements.

Call us on 02071172953 or email us info@thebrokerlink.com

 

 

Creating the right content for your social media audience is one thing, posting the information at the right time is another very important aspect of reaching your target audience organically. Each social network has its uniqueness and hence a one-size-fits-all approach is just not practical when working with multiple social media accounts. Here is a guide to help you choose the best time to post on Facebook, Twitter, Linkedin or Instagram.

We have a dedicated team willing to help you create content and distribute that content to thousands of prospective clients through in-depth social media management for insurance brokers. Get in touch for a quote from us.

• Click here to read our new blog- How AVIVA increased their quote rates through email marketing

Brokers always tell us that email marketing never works-till we show them how to do it properly and increase their sales. In this post, we wanted to share how AVIVA,  generated 48% more quotes and 45% more revenue when they increased their email marketing by nearly twelve-fold (x12).

In our previous blogs, we have spoken about how brokers are using email marketing the wrong way and how to use it the right way. We have also given you tips on whether to use word-of- mouth, social media marketing, email marketing or inbound marketing for your business. We thought it is only right that we give an example of how email marketing has been used to its full potential using the example of AVIVA.

Like most insurers and insurance brokers, Aviva had been emailing their clients and prospects only once a year. Usually just before a client’s next renewal. After hiring an email agency, they developed a plan to send more structured emails to their clients. Emails which encouraged clicks with call to actions (CTA) and also informed segmented clients of other policies which might be of interest to them.

The result?

AVIVA went from 1 email (at renewal) a year to 12 and the result was:

48% more requested insurance quotes
304% more unique clicks
45% more email revenue

Not bad right? Email and other digital marketing works, it just has to be done properly.

How can you benefit?

There has to be a plan in place for email marketing to work properly: Our key tips are:

• Plan, plan and plan – have a strategy in place (click here to contact us. We will help you see what will work best for you)
• Stop selling insurance and start helping the potential customer.
• Find out from your subscribers what kinds of content they would most like to receive.
• Segment your potential and existing customers and be targeted with your approach – the machine gun approach rarely works.
• Be patient and consistent.
• Increase your email frequency slowly.

[Source: Campaign Monitor] | Feature image source: www.ft.com

One question we always get asked by brokers is this – ‘’In this digital age of social media- LinkedIn, Facebook, email marketing, search engine optimisation (SEO), content marketing and all things digital, what actually works for insurance brokers?’’ At BrokerLink, we are always happy to share our knowledge on how digital marketing can be used to increase your GWP. So we put together this blog post to guide insurance brokers who have similar questions.

In order of the most effective:

1. Word-of-mouth

2. Email marketing

3. Social media

4. Search Engine Marketing (SEO &SEM)

5. Content marketing

It is nice to see that CBSPulse agrees with us

[Source CBSPulse.com]

In 1^st place- Word-of mouth

Word of mouth is still the best way for you to get a new customer and to convert that quote. Recommendations from family, friends and business colleagues still remain the best way to acquire new business. CBSPulse did a survey which found that 84% of people trust recommendations from their friends and family and are more likely to follow them. In this age of digital, word-of mouth can be even more powerful when brokers use customer testimonials, feedback and reviews. You can have customer testimonials and recommendations on your LinkedIn and Facebook profiles as well as use free tools like Google business listing and Feefo which can help you boost your referrals and show the difference between you and your competitors.

In 2nd place- Email marketing

In our experience, email marketing is still one of the top ways to build trust with your customers and to sell more policies. Email marketing has the highest return on investment rate at £4,400 per £1 spent. For business to business sales, this can be an excellent way of warming up your leads. Unfortunately, not a lot of brokers use email marketing consistently enough to benefit from it and increase their gross written premium (GWP).

[Read our blog on tips to run your email marketing campaign]

In 3rd place- Social Media

Social media is the still the buzz word and with billions of people currently on Facebook, Twitter, LinkedIn and Instagram, this can be an excellent way of getting your business and your insurance policies to potential customers. Social media is being used by some brokers to completely transform their business. The tricky part is that each social media channel has a different demographic, different purpose and different use. For example, the social media channel and tone you might use for selling a performance car policy will differ from the one you use for selling a professional indemnity policy. Even the hour of day and how much you post on Facebook differs from Twitter or Linkedin. Deciding which one is the most effective for your product and using it correctly is the key to beating other brokers in the market. [If you have a question about which one to use, please click here to ask us]

In 4th place- Search Engine Marketing

In this digital age, 93% of online experiences begin with a search engine. Sixty-eight (68%) percent use Google to search and combined with the fact that the first 5 results in Google get 67% of all clicks, you will get an idea of why search engine marketing is so important. Customers looking for a policy will go to google to find the right policy and the right broker for them. Compared to email marketing or social media, search engine marketing can take a longer time to make an impact but cannot be underestimated. It is important that you have your business and website optimised for search engines such as Google in order to benefit from it. Remember, this can take some time to work, so be patient but consistent.

In 5th place- Content marketing

Content marketing has grown to become one of the best ways in which you can show potential customers how much knowledge you around the policy they want. Businesses can become experts through the content they provide and engaging content can gain a broker a following like never before. For brokers, great content can increase the number of people coming to your website and will also increase how google ranks your business. This will lead to more sales and business growth.

Why not use all of them?- Inbound Marketing

At Brokerlink, rather than use one method, we use a process called inbound marketing which combines word-of mouth, email marketing, social media, search engine optimisation (SEO) and content in the right proportions. Inbound marketing is helping the most digital savvy brokers such as Simply Business and Bought by Many to disrupt the market and grow their GWP at incredible rates. Why not join them? Click here to ask us how inbound marketing can help your business.

Feature image source – www.entrepreneur.com