Agents must understand the branding of the insurance company to be successful in selling policies
Question: How can I leverage the branding of insurance companies in my efforts to sell insurance?
A: People need insurance. It offers peace of mind in the event of an accident or tragedy. He’s there during the sad times, which makes it hard to think about the good times. It is a classic, unwanted product. All of this makes selling insurance a challenge.
Insurance companies use their brands to introduce themselves to customers and to convey the values ââand beliefs of the company. A brand is built on the understanding that you cannot please everyone, so you need to focus on a target market for which you are creating a combination of product, price, communication, and distribution.
Branding actions help create positive experiences and trust. The brand is the collection of memories that the customer develops from their interactions with it. The more consistent these interactions, the stronger the brand becomes.
For those who want to leverage an insurance company’s brand, staying consistent with the brand’s history and activities is the only way to unlock that brand’s value to drive your sales business forward. For insurance company agents, that means avoiding the attraction of being yourself and creating your own personal brand.
Customers approach an agent with expectations created by their interactions with the brand actions of the insurance company. Any inconsistency between the company’s branding and agent behavior weakens the brand. A successful agent will know who the brand’s target market is and what the brand’s history is and will use that in their prospecting and selling.
For insurance brokers who wish to take advantage of the branding activities of insurance companies in their sales efforts across brands, you must first create your own brand that conveys your values ââand position so that you can represent the best interests of the client when researching insurance companies. When comparing offers between insurance companies, understand the different target markets brands are designed for and base the comparisons on differences in brand stories rather than attributes of their offerings.
David Alexander is Associate Professor of Marketing at the University of St. Thomas Opus College of Business.