You don’t need a huge marketing budget to grow your insurance business. You can even grow your business without any budget at all.
No matter the company size, there are plenty of ways to market a business for free. As you grow, you can then put a little bit of money into a few worthy marketing endeavors to add more fuel to the fire.
Fortunately, the internet is awash with free marketing ideas. So, if you ever feel stuck, a simple Google search can unlock new ways to market a business for free. Meanwhile, we’ve compiled some of the top free or low-cost marketing ideas for insurance agents to get you started.
Get Social
Insurance agents that can deliver a great customer experience and build strong client relationships can differentiate themselves from the pack. Similarly, being social and building relationships before someone even becomes a client can help your business stand out. Best of all, being social can be free.
Think of how you can connect with others in a way that bolsters your reputation, builds trust and gets your name out there. For example, you can use:
Social Media:
Being active on social media platforms like LinkedIn, Twitter and Facebook can help you connect directly with potential customers. But you likely won’t get far if you just post content and hope for the best. Free marketing ideas on these platforms include:
- Commenting on others’ posts to share your expertise and get on prospects’ radar
- Sharing posts from other local businesses to get their attention and encourage them to share your own content
- Participating in groups or live chats to directly reach relevant audiences
In addition to the many free ways you can promote your business on social media, you can use low-cost marketing ideas to jumpstart your growth. For example, putting a little money behind social media advertising can help potential customers become aware of your brand. From there, it can be easier to build a following so your organic posts have an audience.
Webinars:
Another social, free marketing idea is to host a webinar. This involves presenting and discussing a topic relevant to your business that your audience would find valuable. That means instead of hosting a webinar just on the benefits of business insurance, consider hosting one on a topic like scaling a startup. You could then partner with other businesses, like a law firm, to share knowledge that helps potential customers.
Some webinars can be put together entirely for free, especially if they’re small enough to stream over video chat. Or you might want to get a little bit more high-tech and integrate webinars more into your overall marketing plan. In that case, low-cost marketing ideas include using platforms like GoToWebinar.
Workshops/Seminars:
Similar to webinars, you can host or participate in workshops or seminars to get social and share your expertise in-person. Take a look at events happening within your community, such as at libraries or universities, to get a sense of what and where you might be able to get involved. Then, reach out to the organizers to see if they could use your expertise for a future event.
If you join someone else’s event, that can be a totally free marketing idea, as they’ll handle the organization and promotion. Or you could try putting together your own workshop or seminar, which can still be a low-cost marketing idea. To keep costs down, you could host the event at your office or at a community center that has low fees.
Leverage Content Marketing
Creating your own content can be one of the best free marketing ideas if you’re willing to put in the time. Unlike advertising that simply promotes your products, content marketing delivers something of value to your audience. As such, those who see your content marketing can form deep connections with your brand, rather than looking at your offerings as just a transaction.
What if your customers looked forward to receiving your marketing? What if when they received it, via print, email, website, they spent 15, 30, 45 minutes with it? What if they anticipated it and shared it with their peers?
The Content Marketing Institute
That’s the power of content marketing.
In some sense, other free marketing ideas like being active on social media and hosting webinars could fall under the content marketing umbrella. But you should also consider free content marketing ideas like:
Blogging:
If you already have your own website, blogging can be a great way to bolster your SEO. By adding relevant keywords to your blogs, you can draw in prospects who are searching for what you’re writing about. Then, once they read your blog, they can become aware of your brand and start to trust what you have to say. They might even explore other parts of your site after landing on one of your blog posts, which can lead to sales.
If writing isn’t your forte, you could hire a freelance content writer. This can still be a relatively low-cost marketing idea in comparison to, say, taking out an ad that might get glanced over. Once you have a blog post, you can reuse that content in many ways, such as breaking it up into social media posts over time.
Email Newsletters:
As you grow your leads, such as by asking for blog readers’ email addresses, you can also leverage free marketing ideas like sending email newsletters (e-newsletters). Many email platforms offer a free tier that allows you to send e-newsletters out until you get to a certain subscriber limit. From there, the costs can still be relatively low.
In your e-newsletters, you can share new blog posts, write a few paragraphs on tips you think could help prospects and customers in the current business environment, share links to relevant news stories, etc. Doing so can help you further grow trust with your audience. When it does come time to make a sales push, every now and then you can send out an e-newsletter that explains why your readers should act now to purchase your offerings.
Whitepapers/Ebooks:
Developing a longer piece of written content like a whitepaper or ebook can also be a great way to market a business for free. These longer assets can act as a lead magnet. For example, you could write an ebook about how to get through periods of slow sales. This ebook could then be given away for free to those who provide contact information on a landing page. At that point, you can ask prospects if they want to sign up for your e-newsletter to grow your email list.
Videos:
If you’d rather not write so much, you could also create videos. Even just filming short clips from your phone, such as a “business tip of the day” type of video, could be valuable to your audience. You can then share videos on social media, in your e-newsletters, or on sites like YouTube as a way to market a business for free.
Get the Word Out
While free marketing ideas like using content marketing and being active on social media can be appealing, good old-fashioned word-of-mouth can be just as powerful. Aside from trying to be social with prospects, working your network of colleagues, business associates, current customers, etc., can propel you further.
As you develop your small business marketing strategy, keep in mind that your professional connections can become devoted ambassadors for your brand.
Wix, a website design platform
Some free marketing ideas based on word-of-mouth include:
Asking for Referrals:
If you have satisfied clients, ask for referrals. They may have other professional connections who need insurance and would be happy to help you out. You can also offer referral rewards, even something as simple as free t-shirts, to sweeten the pot.
Use Reviews Sites:
Another easy, free marketing idea is to claim your business page on review sites like Yelp and Google My Business. Similar to asking for referrals, you can also ask clients for reviews on these sites. That way, when a prospect finds your business online, they can see (hopefully) positive reviews that encourage them to work with you too.
Join Business Groups:
Connecting with other business professionals can help spread the word about your insurance offerings. Consider joining groups like your local Chamber of Commerce. One idea is to use these connections to trade business cards with professionals in other industries. You could display each other’s cards in your respective offices.
You could also join industry associations to connect with other insurance agents who might be able to help with referrals. While some groups may have membership fees, this can still be a low-cost marketing idea.
Converting With Free Marketing Ideas
By implementing these types of free or low-cost marketing ideas, you can expand your reach without busting your budget. Still, you need to be able to convert prospects that you hook with these free marketing ideas into clients.
Using an InsurTech platform like Wheelhouse, powered by Talage, can help. If a free marketing idea like blogging attracts visitors to your site, make it easy for them to sign up for your offerings. With Wheelhouse, prospects can quickly and easily get bindable quotes on your site. Plus, you maintain control of your book and branding.
As you get better at converting prospects into clients, you can more easily afford more in-depth marketing plans. But no matter how successful you get, there are still free or low-cost marketing ideas you can use to grow your business.