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Building the Foundations of Your Insurance Agency

Starting your own business can be both exciting and downright scary at the same time. But once you take that step and push yourself to do it, you will never regret it. You will find joy in not only being your boss, but also in watching your business change and grow over time. You might be worried about how to grow your business at first, and it can be difficult in the beginning, but it’s not impossible. You just need to focus on the foundation of your insurance agency, because this is what will help you convert leads into customers. 

The question is: where should you start? Don’t worry, we’ve got the answers you need, so you can successfully build your foundation and watch your numbers grow!

Developing a Strategy

plan written on a chalkboard with strategy words around
First you will need to develop a strategy for your business.

Developing a strategy is one of the most important things to do if you want to build a successful insurance agency. To develop a strategy, you’ll need to:

  • Identify your objective and your core values– Your objective is your goal for your business; it should be centered on the problem you’re aiming to solve with your services, and your company values will run hand-in-hand with your objective.
  • Conduct a self-assessment– Do you have the cash flow and human resources needed to see your plan to fruition? What competitive advantages do you enjoy over other agencies?
  • Research your market and past success stories- Find out how similar agencies have claimed their market share, grown brand awareness, and managed a happy and productive workforce.
  • Lay out a roadmap to success- Create a step-by-step guide to achieving your goals and what you are going to do to meet them. This guide will set you up for success and hold you accountable.
  • Stay focused

Finding Leads

Finding leads can be relatively easy if you know how to attract them. The best way to attract leads is by building your brand and creating a sense of trust. You can do this by getting online and showing how knowledgeable you are. You should:

  • Create a website and social media accounts that will help attract and convert leads. 
  • Also comment on sites like Quora, answering people’s questions about insurance, in addition to communicating with leads via social media. 
  • Make and share videos that are informational and useful to leads and customers. 

Nurturing Leads woman with a headset on

Your first contact with leads is very important: remember, first impressions count! When leads show interest, it’s important to contact them in a timely fashion, but not immediately. Generally, it’s best to send an email or make a call within 12-24 hours; any longer and you risk losing them as a customer. 

After that, you will need to create a schedule to follow up with your leads. After all, it generally takes contacting leads 7 to 13 times to convert them! Your follow-up schedule could look like this: send one email a week and a call or two every quarter.  Make sure your follow-up contact is not just focused on plan renewal or other business; make things personal so you can keep nurturing them long after they’re converted from leads to customers. 

Looking For Leads?

Since you’ll be dealing with a competitive field, the most important step in growing your agency will be building your customer list. And what better way to do this than getting hand-delivered, ready-to-buy leads from Benepath? When you work with Benepath, receiving reliable, exclusive leads is the easy part. 

We provide you with real-time leads through a secured process and give you a customized thank-you page so your leads will be ready for your call. This thank-you page assures leads that they won’t be bounced around between agents and gives them a feeling of connection with you right from the start. We offer the leads, and, while it is up to you to properly nurture your leads, we’ll be behind you every step of the way. You’ll find, though, that our leads don’t need much nurturing because they are ready to speak with you and buy your product! But if they do need some nurturing, follow the effective ways mentioned above to seal the deal. To get more information, fill out the form below or call 866-368-0377.

About The Author: Cassandra Love

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