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When To Invest In Your Insurance Business

How do you know when to start investing in your insurance business? The answer is in the mindset more than in the numbers. Investing is how you take your business to the next level – having that goal is where you start. You have to commit to more, but keep in mind that you are not diminishing your income to scale, you are building a company.

This brings the next question: where is the best place to start investing? 

People 

When it comes to running and growing your business, it is not something you can do alone – you need people to help. Whether it is your sales team or your administrative team, recruiting is one of the biggest investments you can make to work towards growth. The more people you have in the office, the more outlets you have to make back the money you are putting into your employees.

Investing in recruitment can be costly and ineffective if you do it the wrong way. Finding a service or automation that does the searching for you for a reasonable price is important. Know the details of how many people you want to hire, how much you are willing to invest, and how you are going to equip those people once they are hired and you are on the right track.

Lead Marketing Strategies 

Figuring out what lead marketing strategies work best for you and how you can use them well is another crucial step. Whether it’s direct mail, digital leads, vendors, or another source, using the leads you get along with marketing tools is a sure way to move towards scaling your business. Weighing the pros and cons of strategies, such as timeliness, target market, or any other factors is best to create a strategy marketing plan that you are comfortable with.

Brand Building

People – whether it is employees or clients – want to connect with a brand, not just a person who has hired other people. Turning your business into your personal brand from just another basic insurance provider is how you can attract more staff, clients, and overall attention in your community. If you’re recruiting based on anything other than a brand or culture, you will end up losing your team and/or clients via the same methods you gained them; someone else will end up offering them more perks than you.

The most important aspect of the brand-building process is creating content and a personality that is worth following. There are a lot of options when it comes to said content to put out: websites, blog posts, videos, social media presence, and more. Finding what you want to create and promote for your brand and business is crucial; if it isn’t natural to you or your team, it won’t work long-term, which is what your brand should be. Using your content as a marketing tool is one of the best ways to grow your brand, and in that your success will grow as well. 

Insurance Events

All of the items above will be easier to achieve when you can see how others have accomplished them. The number of events for the insurance industry is rising every year; Cody Askins hosted the first big one, and more and more people are following suit. These events are the best opportunity to expose yourself to new ideas and people – virtual development options won’t give you the same benefits. The conversations you have, people you meet, and business ideas you collect are what will help you get to the next level of business, along with having accountability in doing so. 

Having a network of people who have the same goals as you is important. You have to get yourself in the room with the best of the best, along with the insurance agents in the same place as you. Events with a variety of content, more than just speakers being interviewed on a stage, are your best bet for learning through these events. Outside of your comfort zone is never a bad thing!

Much of Secure Agent Marketing’s best growth has come from the things learned at different conferences and events like these – we are a first-hand example of the success you can find there. Getting outside of your “ecosystem” is important. Investing in something intangible like an event or experience can seem less efficient or not as “worth it,” but it can be the best way to elevate yourself and your future success. 

Investing in your business is the biggest part of committing to more as an entrepreneur. Taking things to the next level can be a scary process, so we hope this helps break things down into easier steps! One thing at a time is all it takes to get the engine moving. If you need to learn more about how to get quality insurance leads, the marketing experts with Secure Agent Marketing can help.