My recent interview by the Insurance Journal about Smart Phone Marketing is getting a flurry of visitors. And one comment in particular reminded me - again - how much MISUNDERSTANDING there is about Digital Marketing for insurance agencies. Those who fantasize that customers will "be the agency's CSR's" and fill out quote forms online, then click "accept quote" to buy insurance online demonstrate a basic ignorance about the REAL POWER of this medium.
In response to one comment from "Christoper" that "on-line revenues are only a small percentage of any corporate balance sheet" bring this problem to light. How do you count "revenue?" By sales made online? Well, then, of course, that is true. Insurance buyers are still reluctant to purchase directly online...and that is a GOOD thing for agents. Remember that "sales" is the end-point of a strategic and sophisticated communication with your marketplace. And to ignore the numerous ways that Digital Marketing can flood your market funnel, develop trust, create connections, stimulate sales, stimulate cross-selling, boost retention, etc., etc., is a grave, grave mistake.
Agents who want to break out of the limitations of the current (200 year old) business model will realize that Digital Marketing can MULTIPLY their relationships with the marketplace. And AUTOMATE certain functions they either don't have time for or can't do manually.
Is the old business model worn out? Old business models ALWAYS wear out. When Disruptive Technologies make them obsolete. Don't believe it?
- Ask the music industry.
- Ask the book selling industry.
- Ask the book publishing industry.
- Ask the home movie industry.
- Ask the travel industry.
- Ask the journalism industry.
- Heck...ask Hugh Hefner.
To see my complete reply to "Christopher" go here.
To your growth!
Michael