FRIENDLY AGENT: Branding as a Competitive Advantage for Your Insurance Agency

Are you tired of fighting to achieve a higher level of success for your insurance agency? One of the most powerful ways to gain an edge over your competition is to learn how to build a brand. With the information provided, you’ll begin to see a dramatic change for the better. In this article, we will discuss how to go about branding for an insurance agency.

 What Is Branding?

Insurance agents understand the importance of marketing, yet some fail to recognize the full advantage of branding. Every year, millions of people buy insurance or renew an existing policy to ensure they have optimum protection for their automobiles, homes, rental properties, boats, recreational vehicles, health care or dental needs, funeral expenses, and so on.

Not only is insurance something that people need, but it is also mandated by current laws. Because of that, the insurance industry has become incredibly competitive. Instead of fighting to grow your agency, you can benefit from what branding offers.

By definition, branding is a type of marketing strategy that entails creating a name, design, or symbol that makes your insurance agency easily identifiable. Overall, this sets you apart from the competition. With branding, people can quickly and easily identify one company from another.

Strategies for Branding

Logo

Your logo serves as a powerful branding strategy for your insurance agency. Take Nike and Adidas as prime examples. Each chose to brand their products with a distinct design. Nike’s shoes and apparel have a black swoosh that resembles a wing in the air, which comes from the Greek Goddess of Victory. On the other hand, Adidas opted for a design in the shape of a mountain that represents the various challenges faced by athletes. Although completely different visually, people immediately know one brand from the other.

You have the same opportunity for your insurance agency. The right logo will make a lasting impression on both prospects and existing customers, setting the tone for what they can expect when buying insurance from you. Simply put, the brand becomes a true representation of what your business is and how you want people to perceive it.

When it comes to branding, the one thing you should invest in is your company’s logo. If possible, work with a professional graphics designer or someone with the skills to use your ideas to create a strong branding statement. If you need to stick to a budget, there are several excellent tools available online. Remember, not only does your logo need to represent your current business but also what you anticipate it becoming in the future.

Website

Start with a clear goal of how you want to present your website to your target audience. The layout also plays an important role in branding. To make your brand identity clearer, be sure to place your tagline and logo in the most visible areas.

Even the colors you select make a substantial difference in branding efforts. As you’ve probably heard, different colors evoke specific emotions. Select the colors that highlight your company’s values but will not overpower your prospects. For instance, red represents energy, orange embodies confidence, and yellow signifies optimism. While all excellent choices, because they’re so bold, use them sparingly.

Maintain a cohesive style for your site. The combination of the right visual style, easy-to-read format, and a consistent message helps with branding. For cohesion, include your home page, landing pages, and even any blogs or articles posted. This helps familiarize people with your business, which in turn, makes it more recognizable.

Tagline

Because the tagline portrays a specific message, you want to choose something that grabs the attention of and resonates with your target audience. Although a tagline is short, there are many ways to make it powerful and memorable. Again, look at Nike’s tagline, “Just Do It.” Those three words provide an impactful message. When having your logo designed or if designing it yourself, be sure to integrate your tagline.

Social Media

You can also brand your insurance agency using various social media platforms. You should utilize all the major sites such as Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Always remain consistent with the style, color, and message across the board. For social media, it’s also imperative that you tell a story using both transparency and your normal voice. Sharing a real-life event with your target audience will go a long way in making a lasting impression.

More Opportunities

Along with the branding ideas mentioned, you have even more options for branding your insurance agency. For example, take advantage of storefront signage, a slogan, your company’s culture, customer support, product or service quality, pricing, and more.

All these elements work together to create one professional profile that grabs the attention of the people you want to reach. The power of branding is vital to the success of your business.

Benefits of Branding

As you look over the list of reasons for boosting your branding efforts, you will understand why this is critical for your insurance agency.

Builds Recognition

Branding your agency builds recognition. While all the components mentioned play a critical role, your logo is perhaps the most vital. As with the example provided, you want a logo that is both memorable and powerful. Select something that people quickly recognize and then include the logo on your letterhead, in quotes, as part of promotional material, and on your website.

Makes Marketing Consistent

The more consistent you are in displaying your agency’s logo, the more successful you are in your branding efforts. Although it takes time for people to recognize your brand, displaying your logo wherever you can will speed up the process.

Creates Loyalty

The more that people recognize your brand, the more they’ll trust you and your agency. Part of that entails providing excellent insurance and outstanding customer support. For the recognition aspect of branding to turn into loyalty, people have to know that what you offer is of superior value.

Loyalty is often passed down from generation to generation. That means your long-term customers will share their experiences with your agency, prompting future generations to buy policies from you instead of somewhere else.

Maximizes Product Launches

If you currently sell one or two types of insurance but plan to expand your offering, brand equity will maximize that effort. With brand recognition, people will pay attention when you announce a new product or service. With the right branding, you encourage people to buy from you or add an existing product to what they already have.

Enhances Credibility

Branding will also make you appear credible. When you combine innovative marketing strategies, outstanding customer support, and fascinating visuals, your agency’s credibility increases within the industry and among your customers.

Creates Opportunity for Talent

Social media marketers, online influencers, concept builders, website designers, and other professionals notice an agency with excellent branding. As a result, they and other outsiders will start showing a greater interest in your company and its growth. That opens new doors of opportunity to collaborate on taking your agency to a new level of creativity.

Increases Sales

As more people trust your agency, you’ll see an increase in the number of policies sold. Now, recognizing that you have a viable business, people interested in buying insurance will turn to your agency rather than to one of your competitors.

Boosts Confidence

Especially if you recently opened a new insurance agency, people may feel somewhat leery of switching. However, when your branding comes together as a professional and complete representation, those same individuals will begin to have confidence in you and the service you provide. At the same time, your confidence builds.

Take Charge of Your Future

Instead of worrying about what your competitors are doing, take charge by branding your insurance agency. A strong brand will do a lot of the work for you in bringing awareness to your business and giving people confidence to purchase coverage.