Pulling information like responses, opens, clicks, and website traffic can help categorize your contacts even further and allow you to adjust future marketing efforts based on the results. Sending specialized messages to smaller, more refined segments that fit your appetite can increase the effectiveness of your marketing efforts and offer more “bang for your buck.”Ĭollect and Analyze Data: Once your marketing campaign is complete, it is essential to compile the results. Choosing specific risk characteristics that fit your agency’s criteria can help you focus your marketing campaigns and spend your time, effort, and finances on reaching the accounts that are the best fit for you.Ĭreate Specialized Marketing Campaigns: Using cookie-cutter marketing pieces and generalized campaigns can cost an arm and a leg without delivering the results you’re looking for. Next, you must determine your appetite, and the appetite of the carrier/program manager, within the selected market. For instance, if your family owns a car wash, you may find success in that industry. Focusing on a market where you have prior knowledge or expertise is always a good place to start. Here are a few steps to help your agency enter into and thrive in a niche market.ĭefine Your Audience: The first step to defining your audience is determining what market(s) to enter. Program business continues to outpace the commercial sector in terms of growth, but it is often difficult to determine what markets to enter and hot to effectively implement a segmentation and communication strategy. Target marketing is a key component of effectively growing your business in the insurance industry even more so when working in niche markets.
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