BUSINESS STRATEGIES
4 tips for growing smaller markets
While we often focus on seniors , the truth is all the people in your community are prospective clients and need your help .
For agents and agencies working in smaller markets , new business growth and development can present unique challenges — but also incredible opportunities . Understanding your individual market needs and having the right tools can make all the difference .
Here are four tips to help grow your business .
1 . Expand your product offerings
Insurance isn ’ t one-size-fits-all . Expanding your product offerings to better meet the needs of those you serve could be just the thing to help you keep your business growing . By some estimates , more than 60 % of middle-income Americans don ’ t have an individual life insurance policy . While we often focus on seniors , the truth is all the people in your community are prospective clients and need your help . IUL plans for younger , upwardly mobile clients and small business owners , and accident policies for children are just two examples of programs that can help diversify your toolbox .
2 . Utilize social media
Social media can be a particularly valuable tool for smaller markets . With a strong social media presence , you can let people know that you ’ re a local resource for solutions and expertise . And the influence of Facebook — especially with the senior audience — is still growing . According to Hootsuite 46 % of Americans age 65 and older now use Facebook . Remember to keep your messaging focused on consumer needs and insurance facts . You want to be seen as someone people can trust .
Bryan W . Adams is the Co-Founder and CEO for Integrity Marketing Group and serves on the Board of Directors . Considered one of the nation ’ s leading experts in the insurtech industry , Bryan is committed to innovating insurance to better serve his fellow Americans .
3 . Be an educator
You want to be ready to provide guidance that makes a material difference in people ’ s lives . I recommend having some financial planning expertise . Many programs appeal to certain types of clients , and identifying those areas is vital . Having read a book like “ Tax-Free Retirement ” by Patrick Kelly would position you to provide added value for some clients . Another book — “ The Retirement Miracle ,” also by Patrick Kelly — may be useful when working with small business owners who may not have access to other programs or plans .
4 . Focus on networking
Who you know and what you know can intersect in powerful ways . In a small community especially , networking is a vitally important way to grow your business — and getting into the right network is equally important . Taking the time to be aware of when families or colleagues are experiencing life events like having babies , buying a home or planning a wedding will help you stay connected to needs in your community . Reach out to shop owners , realtors , daycare owners , and others about their needs and the potential needs of their customers or clients . You may find it worthwhile to expand your personal approach and connections into neighboring communities as well . www . nailba . org 49