What Are the Biggest Challenges of Insurance Marketing?

The insurance industry is a dynamic marketplace, with new products and services being developed at a frantic pace. Economic drivers influence the industry, and in a strengthening economy, it is crucial for insurance agencies to market themselves efficiently. It is no longer sufficient to bring in new customers; today’s insurance marketing includes improving the customer experience. While SEO for insurance agents is the foundation of any digital marketing endeavor, there are numerous challenges that must be overcome in order to achieve success. In this guide, we’ll explore some of the challenges insurance marketers face, then present valuable details in bringing your insurance agency to the next level of business prominence.

Insurance Marketing Challenge: The Economy

Perhaps the most important challenge insurance companies and insurance marketing professionals face is the economy, or how the economy influences business growth. In the U.S., the economy has experienced a substantial upturn, but the path forward is still filled with uncertainty. Most consumers are more cost-conscious than ever before, which creates a unique challenge for insurance professionals. Providing information on cost benefits – emphasizing how the coverage and features provides measurable benefits – is the key to getting potential customers to make purchasing decisions. This is a direct form of improving the customer experience rather than simply selling a product; by taking the time to find the right insurance product to meet a customer’s unique needs or concerns, insurance agents can weather any economic conditions.

Regulatory Challenges in the Insurance Industry

When the Affordable Care Act was enacted, it had powerful ramifications for the insurance industry. Now, as portions of the Act have been modified or eliminated, challenges have ramped up, causing uncertainty throughout the industry. Insurance agents are scrambling to make sense of the changes and to convey those changes to their clients. Digital marketing practices can help overcome this challenge, such as creating timely online guides to help potential customers navigate which actions they should take and which coverages suit their needs. It is clear that the insurance industry regulation is continually evolving, with new opportunities and new limitations changing the way insurers do business.

Shifting Demographics: A Constant Insurance Marketing Challenge

It can be said that few people actively search for insurance information unless they have to. Purchasing a home or buying a new car often requires the acquisition of a suitable insurance policy, but in general, the average American is simply not interested in insurance and may not understand the value of such coverage. SEO for insurance agents is instrumental in meeting this challenge. By creating proactive strategies to educate and inform potential customers, agencies are able to reach untapped markets. Digital marketing can improve search visibility, generating leads in targeted markets like millennials and multicultural families. By targeting these shifting demographic groups, the concept moves from trying to sell insurance to anyone and instead focuses on addressing specific needs – in effect, filling potential insurance gaps.

Improving the Customer Experience

The final challenge that many insurance companies will face is the concept of improving the overall customer experience. It is no longer sufficient to sell insurance; rather, today’s winning strategies include marketing the intangible benefits of insurance products. Consumers are demanding a personalized approach in sales and service, and insurance agencies are uniquely suited to offer this type of service to their customers. Insurance is more than a financial tool designed to protect assets from loss. It is also a security blanket, providing peace of mind that goes far beyond the sales transaction. Again, SEO for insurance agents can unlock strategies for reaching customers. The best agencies tell their stories and provide examples of how insurance improves lives and financial security. By harnessing the power of search engines, insurance agents can reach new markets, sharing the information and details that allow consumers to make informed decisions.

About Neilson Marketing Services

Since 1988, Neilson Marketing has been implementing innovative marketing solutions and strategies for our clients in all areas of marketing. Contact us today at (866) 816-1849 to put our talent, expertise, and vast resources to work for you. Let’s make things happen, together

Start Changing Things Up

Think about where you want to be next year, in five years and even in 20 years as the insurance industry evolves. How will you get there? Do you have the resources in place? The talent? The strategies? Neilson Marketing Services can help you plan for tomorrow today. Give us a call at 800.736.9741 or complete the form on this page. One of our account representatives will contact you to start making results happen.

Partner with an award winning digital agency.

Leave us your details and we'll contact you to discuss!