They used to be a staple of the industry.  Back in the “good old days,” it was part of the usual recipe of insurance agency marketing.  Take out a Yellow Pages ad.  Hang around the service clubs.  Hang a shingle outside your office.  All of which worked pretty miserably.  But, let’s face it, the competition was lazy, complacent and untrained.  So the threats were minor.

Those days are long, long gone.  YP ad revenue has been slip-slidin’ away.  about 3 points per year.  The Kelsey Group – an independent research firm – predicted a 10% erosion this year.  According to a new study by TMP Directional Marketing, “online search” finally edged out print yellow pages as the #1 consumer research tool. 

Of course, this isn’t news to most insurance agents who used to (or still do) advertise in the good ol’ YP. 

Except in the rarest of cases, they’ve seen their leads count go down and the least cost go up, up, up.

YP has hit “the tipping point.”  In fact, some consumer groups are griping about the traditional YP delivery method: leave ‘em at the front of the driveway.  (“We already have doorstops from LAST year’s Yellow Pages!”)

But the big deal for insurance agents is: WHADDYA GONNA DO ABOUT IT?!  Over the last 16 years of consulting with agents on marketing and business strategy, we’ve seen various marketing media come, go, get hammered, get regulated, rise, fall…you name it.  (Fax broadcasting, e-blasting, do-not-call lists, do-not-fax lists, voice broadcasting regulations, etc, etc.).

So: having to deal with marketing change is NOT news for my long time clients.  The decline of the YP is old news for most of you.  But if you IGNORE what’s taking it’s place: ONLINE marketing, in a zillion different formats, you ignore it at your own PERIL.

Don’t.

I’ve posted a “re-broadcast” of our recent webinar on Internet Marketing – with guest experts, Brett Smith and Marc Bujold, two of the top internet consultants working today.  LISTEN TO IT AS SOON AS POSSIBLE.  This is an URGENT issue for agency principals.

AND FOR THOSE OF YOU WHO ARE SERIOUS ABOUT YOUR FUTURE and serious about both the threats and opportunities the Internet presents your agency, I have a solution. Stay tuned.

Dominate Your Marketplace,

Michael

PS: I had one of the greatest days of my life yesterday, when my daughter Maggie – well known by many of our clients – had a 6 pound, 5 ounce boy.  Everyone’s healthy!

PPS: What are YOUR thoughts on how the Internet is and will affect your agency?