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How to Use Promotional Marketing and Inventory Management to Market Insurance

Everyone needs insurance. With an improving economy, insurance jobs are expected to grow more than 10 percent between 2012 and 2022, according to the U.S. Bureau of Labor Statistics. Yet, as a largely commission-based job, insurance agencies often see high turnover rates as agents struggle to grow their business. In the competitive world of insurance, promotional marketing and inventory management are powerful tools in marketing for insurance.

Promotional items have staying power—since most consumers keep branded merchandise for an average of seven months. They also create brand loyalty and serve as a visual reminder of your insurance services and commitment to customer service. If you’re unsure how to use this powerful marketing tool, we’ve compiled a few ways you can get started:

  • Send past and current customers promotional items that they will use and/or see on a regular basis, such as pens, magnets and calendars.
  • Consider seasonality. For instance, auto insurance agents could send ice scrapers in the winter. Homeowners insurance agents could send out a calendar with reminders to check the smoke detectors, change the furnace filters, clean the gutters, etc.
  • Include your web address on promotional items to drive traffic to your website.

While promotional items have been found to be an inexpensive way to market insurance, those cost savings are negated with poor inventory management. If you order too many promotional items, you run the risk of excess inventory that becomes outdated. If you order too little, you could miss an opportunity to reach your customers.

Outsourcing insurance marketing efforts can save insurance agents valuable time and money. By outsourcing insurance marketing, agents can rest assured they will always have access to promotional items and that their marketing message will be personalized and aligned with their brands.

Contact Kaye-Smith today to find out how we can help you take advantage of every opportunity to create cross-sell and up-sell opportunities for your insurance business.


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