Selling business insurance requires a strategic approach to address the unique needs and concerns of business owners.
By understanding the risks businesses face and the value insurance provides, you can help businesses protect their assets, employees, and reputation.
This guide will provide insights and digital marketing strategies on how to sell business insurance successfully in order to best expand your reach and attract potential clients.
How to Sell Business Insurance Successfully
There are several types of business insurance that you will be able to sell, all of which will offer protection from different risks (e.g., property damage, worker’s compensation claims, etc.).
Some common types of business insurance include: general liability insurance, professional liability insurance (errors and omissions Insurance), workers’ compensation insurance, and cyber insurance, among others.
By selling business insurance, you help businesses get protection against these risks. Insurance agencies play a crucial role in understanding businesses’ requirements, recommending the right coverage options, and ensuring businesses have the necessary protection to thrive in an unpredictable environment.
To sell business insurance, you can use insurance marketing strategies to reach a larger audience. Through various online channels such as websites, social media, email marketing, and paid advertising, you can target potential clients and increase your reach.
Social media is the most used tool when building brand awareness and promoting products or services to potential clients. If you’re selling business insurance, you can target small business owners, CEOs, CFOs, or business managers.
Below is a list of ways you can use social media to sell business insurance.
- Share content: Create and post content that’s valuable to your target audience. This might include blog posts about the importance of business insurance, tips on choosing the right policy, case studies, and more
- Engage with your audience: Social media isn’t just about pushing your content; it’s about interacting with your audience. Respond to comments, ask questions, and show appreciation for user-generated content or positive feedback
- Use social media ads: Platforms like Facebook, LinkedIn, and Twitter offer targeted advertising where you can reach out to specific audiences, making your campaign more effective
- Host Q&A: Through live sessions, podcasts, or webinars, you can answer queries about business insurance. An in-depth discussion about a topic can be a great way to engage your audience
- Collaborate with influencers: Partnering with influencers who have a strong reputation in the business community can boost your reach and credibility
- Track results: Keep track of your social media metrics to understand what’s working and what’s not. Adjust your strategy based on these insights
To be successful in social media marketing, you need to be active and consistent, and you need to interact with your followers. It’s not just about posting your services; it’s about building relationships and creating a community around your insurance business.
As a business insurance agent, we recommend working with Arrow; Arrow uses AI in order to offer up to five personalized posts a week, online traffic boosts, and weekly reporting.
Implementing a content marketing strategy to sell business insurance requires planning, creativity, and a deep understanding of your audience’s needs.
Here are some strategies that your insurance agency can employ:
- Understand your audience: First, it’s essential to know who your target audience is. Understanding their needs and concerns will help you produce content that resonates with them
- Create a content strategy: What do you want to achieve with your content marketing (e.g., increasing awareness about your insurance products, generating leads, etc.)? Outline a strategy to achieve this. Your strategy should include the types of content you’ll create, how often you’ll post, and on which platforms
- Create content: Create and publish content that informs and engages your audience. This could include blog posts, articles, ebooks, infographics, videos, podcasts, or webinars. Topics could cover the basics of business insurance, how to choose an insurance policy, real-life case studies, etc.
- Search engine optimization (SEO): Your content should be optimized for search engines. Use relevant keywords in your content, meta descriptions, and title tags. Make sure your content is easily readable and includes internal and external links to relevant sources
- Measure your success: Use tools like Google Analytics to measure the success of your content marketing efforts. Keep track of metrics like page views, time spent on the page, bounce rate, and conversion rates among others
Note: Content marketing is a long-term strategy. It takes time to build an audience and see results, but it can be highly effective for building trust, establishing your brand as a thought leader, and ultimately, selling business insurance.
Recommended: If you are interested in boost-starting your content marketing campaign, have a look at Sitetrail’s premium press release services.
Pay-per-click (PPC) advertising can drive immediate traffic to your business insurance product or service.
Here is a step-by-step guide on how to utilize PPC advertising for selling insurance.
- Identify your target audience: You need to know who your ideal customers are to target them. Consider the types of businesses you want to sell to — small businesses, medium-sized businesses, large corporations, startups, specific industries, etc.
- Keyword research: Once you’ve identified your target audience, the next step is to perform keyword research to identify what your potential customers are searching for. There are several tools like Google Keyword Planner and Ahrefs that can help you find the right keywords related to business insurance
- Setting up your PPC campaign: Choose a PPC platform to advertise on (Google Adwords is the most popular). Create an ad campaign that targets the keywords you’ve identified, keeping your target audience in mind
- Create ad copy: Create ad copy that includes your target keywords and a clear call to action (CTA). Consider the ad placement and the budget you are willing to spend for each click
- Tracking and optimization: Set up conversion tracking to measure the effectiveness of your PPC campaign. This allows you to see which ads are driving the most conversions
Note: While PPC advertising can instantly boost your site traffic, it’s also important to invest in SEO and content marketing to drive organic traffic. This strategy will establish your brand as a trusted source of information on business insurance.
You can leverage email marketing to sell business insurance more effectively, allowing you to communicate directly with your prospective clients. Emails land in your audience’s inbox where they’re more likely to see and read them.
Check out below how to plan your email marketing efforts.
- Build an email list: Start by building a list of contacts who are interested in your services. This can include current clients, prospects who have shown interest in your business, and those who have opted in through your website (for example, by downloading a lead magnet or signing up for your newsletter)
- Develop a content strategy: Plan what kind of content you’ll send out. This might include newsletters with industry news, blog posts, tips for managing risk, details about your insurance policies, and case studies or reviews from happy clients
- Use a CTA: Each email should have a clear goal and a corresponding CTA. For example, if the goal is to get the recipient to request a quote, you might include a CTA button saying “Get Your Free Quote Now.”
- Monitor results: Use your email marketing platform’s analytics tools to track clicks, conversions, and other key metrics. This will help you understand what’s working and where there’s room for improvement
- Follow privacy rules: Be sure to respect data privacy rules. This includes getting consent before adding someone to your email list, providing a way for recipients to opt-out, and including your business address in the email
Selling business insurance often involves a longer sales cycle. Email marketing provides a way to nurture leads over time, providing valuable content and gradually guiding potential clients toward a purchase.
Building a Website
Building a website to sell business insurance can help you reach a wider audience, provide detailed information about your services, and offer a platform for potential clients to get in touch.
Here’s a guide to help you build such a website.
- Choose a domain name: Your domain name should be relevant to your business and easy for users to remember. You can get a domain name via a domain registrar, like GoDaddy
- Design your website: The design of your website should be clean, professional, and easy to navigate. Include a clear menu with links to the main sections of your site, and use headers and subheaders to make your content easy to browse
- Create content: The content on your website should clearly explain the types of insurance you offer and why potential clients should choose your services. It’s important to focus on the benefits to the client, rather than just listing features
- Include lead magnet forms: Make it easy for potential clients to get in touch with you by including a form on your website where visitors can submit their contact information to schedule a consultation, request a quote, or subscribe to your email newsletter
- Implement SEO: Optimize your website for search engines to help potential clients find your site. This includes using relevant keywords in your content, creating high-quality content, and ensuring your site loads quickly
- Use analytics tools: Installing analytics tools can help you understand your audience better by providing demographics, interests, geographic location, devices used, and browsing behavior
Nowadays, when people need a product or service, their first instinct is to search online. Having a website makes it possible for potential clients to find your business.
We recommend the GoDaddy Website Builder as a small insurance agent company. GoDaddy meets most small business needs while providing an extremely straightforward user experience.
Tips for Selling Business Insurance
Selling business insurance requires a combination of technical knowledge, good customer service, effective communication skills, and a comprehensive understanding of the different risks businesses face.
Here are some tips that business insurance agents can take to sell their insurance products.
- Understand your client’s business: Each business has unique needs and risks. The first step is understanding what these are for your potential client. This will allow you to recommend the right kind of insurance policies that specifically address their needs
- Master your products: To sell business insurance, you must have a deep understanding of the products you’re offering. You should know the benefits, limitations, and specifics of each policy, and be able to explain them clearly and convincingly to potential clients
- Build trust and relationships: Building trust is a key part of the selling process. Be honest, transparent, and reliable with the content you publish or share. This will enhance your reputation and help generate word-of-mouth referrals
- Leverage networks: Attend business networking events, participate in community activities, and utilize meetups to reach potential clients and establish relationships
- Stay up to date with continual learning: The insurance industry is constantly evolving, with new policies and regulations emerging all the time. Stay current on industry trends and continue to improve your skills and knowledge
By taking these steps, you can more effectively sell your business insurance products, ensuring that you offer valuable protection for your clients while also achieving your sales goals.
For more information, have a look at our How to Sell Insurance article.
How to Become a Business Insurance Agent
Becoming a licensed business insurance agent usually involves a multi-step process that may vary depending on the state where you plan to operate.
The common steps are as follows:
- Pre-licensing course: You must complete a pre-licensing course approved by your state’s insurance department. This course will cover essential concepts, including insurance law, policy types, and ethical guidelines
- Pass a licensing exam: After completing the pre-licensing course, you’ll need to pass a licensing exam. The exam typically includes sections on general insurance concepts, as well as specifics related to business insurance
- Fingerprint-based background check: As part of the licensing process, you may also be required to undergo a fingerprint-based background check in some states
- Apply for a license: Once you pass the exam, you can apply for a license with your state’s insurance department
- Application review: Once you have submitted your application, your license application will be reviewed by the state. Once the review is completed, you will be notified by the state (usually via email) regarding the status of your license
- Continuing education: To maintain your license, you’ll typically need to complete a certain number of continuing education hours each licensing period. These requirements vary by state
Specific requirements can vary, so it’s best to check with your local or state insurance department to understand the exact steps you’ll need to take to become a licensed business insurance agent.
Recommended: For more information, we recommend having a look at our state-specific How to Become an Insurance Agent article.
How to Sell Business Insurance FAQ
Why is selling business insurance important?
Businesses of all sizes face potential risks and uncertainties, which could lead to major financial loss. Selling business insurance helps businesses to protect their assets and operations. For more information, we recommend having a look at our in-depth How to Sell Business Insurance overview.
Who needs business insurance?
Businesses of any size or industry can benefit from business insurance. Specific insurance needs can vary widely, based on factors such as the type of business, its location, the number of employees, etc. If you are interested in selling business insurance, you will need to get licensed. See our state-specific insurance licensing guide for more information.
How can I find potential clients for business insurance?
Start by identifying businesses in your area or those within your professional network. You can also consider using insurance marketing strategies such as content marketing, social media ads, or SEO to reach out to potential clients.
What are the key selling points for business insurance?
You should emphasize the potential financial protection that business insurance provides. You may discuss a specific risk involved with your client’s business and demonstrate how insurance could mitigate that risk. Also, remind clients that certain types of insurance may be legally required in their jurisdiction. For more information, see our How Do Insurance Companies Make Money article.
How should I price business insurance?
Pricing for business insurance is usually set by your insurance company based on factors like the size of the business, the industry it’s in, its location, and the types of coverage. As an independent insurance agent, your role is more about helping the client understand the price rather than setting it.
Is selling business insurance a good way to make money?
Yes. Selling business insurance can be a profitable career. Your profitability will depend on several factors such as your communication skills, lead generation, marketing campaigns, and the commission structure of the insurance products you’re selling.
Do I need a license in order to sell business insurance?
Yes. You need a license to sell insurance. The requirements for obtaining a license can vary depending on your state, but it involves passing an exam and completing pre-licensing educational courses. These will ensure that you have a solid understanding of the insurance products you’ll be selling. For more information, check out our How to Sell Insurance article.
Is business insurance required by law?
Generally speaking, no. Having said that, business insurance can be required depending on your situation (e.g., workers’ compensation insurance, etc.). All in all, we recommend seeking advice from a variety of financial advisors before making a final decision in relation to your business insurance.
Should I be an insurance broker to sell business insurance?
Yes. Many businesses find the benefits of working with an insurance broker. You can provide advice on the types and levels of coverage that a business might need, explain complex insurance terms and conditions, and assist in comparing quotes from different insurance providers. Note: If you are planning to sell commercial insurance, you will need to get licensed, find a fair sale price, and determine how you plan to get paid (e.g., lump sum method, over time method, etc.).