5 Most Valuable Steps To Build Your Marketing Strategy in Insurance

Having grown by about 13% in 2021 to reach $5.5 trillion, the global insurance market is fast to recover from the notorious pandemic. Expected to reach $6.4 trillion in 2025, the industry is flourishing, and it may be the best time to reinforce your brand image and sales with a striking content marketing campaign…as long as you know how to do it.

But even if you don’t, please don’t worry. In the next five to ten minutes, you will learn the basics of content marketing in insurance as well as get some ideas for more profound research. Before we start, though, let’s throw some statistics here so that you could be sure content marketing is king.

  • The global content marketing revenue is well above $42 billion and is growing by up to 15% a year.
  • Over 91% of businesses use online content marketing, and half of them have a documented content strategy.
  • Half the marketers spend over $10,000 on content marketing a year.

Feel intrigued? Ready to cater to Baby Boomers and Millennials? Then, without any further ado, let’s proceed to the most valuable insights on building an effective marketing strategy for your insurance company.

Define Your Insurance Niche Market: All-Encompassing vs. Narrow-Focused

It’s paramount that your content revolves around solving the most burning problems of your customers. But wait…who are your customers? Whom should you build your relationship with?

It all starts with planning, even though you will have to align your goals along the way. To tap into the mind of your target audience, you have to define – or find – it in the first place, which leads you to the choice of your niche.

Now, there are two possible scenarios: all-encompassing, when you try to cover everything at once (reasonable for medium and large companies), and narrow-focused, when you try to bring passion to the table and proceed from it. Your passion may come from different sources. Maybe you’ve fallen victim to dental insurance fraud and want to fix it, or maybe you’re passionate about providing people with alternatives to their job-based health insurance.

  • Niche content creation is easier to define and focus on. You will know your niche insurance market audience better than if focused on several niches at once.
  • Niche content creation can make you an authority, which you can use to expand to adjusted niches.
  • Niche content creation can teach you to listen to your audience and respond with the most effective business strategies, including content marketing.

But then again, the utterly important is that the choice of your niche insurance markets is done based on what you love and what you are ready to devote your time – tons of your time – to. Your niche must fuel you with incessant energy that sustains you.

Define Your Content Marketing Plan

There are bazillions of things to include in your marketing plan, which is why there are no two equal marketing plans in insurance. It goes without saying that your marketing plan is your main asset, as it defines what you do and how much resources you allocate to a particular task.

To compose an insurance marketing plan, you need to:

Define Your Mission And Audience

What are you going to focus on? Traditional life and health insurance? Less usual niches like snowmobile or boat insurance? Anything that you know through and through will do. Next, find out what exactly your audience needs, and especially what other companies do not provide it with. This type of content may become your competitive advantage.

Develop Your Content Marketing Strategy And Define the Types Content You Need

This step is so all-employing and diverse that it needs a separate post, but we’ll try to dumb it down to a few simple takeaways.

  1. Understand what makes – or could make – your clients interested in your services (your content). This, of course, will require full immersion on your side.
  2. Based on your thoughts on your clients’ needs, choose the most appropriate strategies, among which are blogs, print media advertising, email newsletters, direct mail, visuals (infographics), publications in journals and magazines, surveys, press releases, guides, etc.
  3. Set your content marketing goals: the number of leads you want to acquire, the number of buyers you want to reach, and other content marketing KPIs.

Define How You Track and Measure Your Marketing Strategies

Without a shadow of a doubt, it’s all about trials and errors, which is why you’d like to have your adjustment strategy ready beforehand. Think about the most probable deviation from the course and how you’d correct them.

Get to Know Your Audience Better By Answering These Questions

There are questions to help you with your target audience, branding, and content marketing strategy. Answer these:

  • Who are your customers (demographics, behavior patterns, etc.), and what makes you unique in their eyes? What are they looking for?
  • What do they think success is? What is their end goal, and what does it have to do with the services that our company offers?
  • What kind of content do they interact with the most?

Generate Insurance Leads by Using These Insurance Marketing Practices

In the world of content marketing, ‘lead’ is a magic word, mostly in the sense that leads may as well be the best tool to measure your success as a content creator. There is good and bad news, though.

The bad news is, there’s no way to know which content will resonate with your audience without giving it a go – as well as you cannot blindly copy someone else’s success path and succeed yourself. The good news is, whether you are going to sell health insurance or aircraft insurance, there’s a bunch of time-tested lead-generation techniques you can try:

  • Ask for reviews. Not only is the feedback from your clients crucial for you, but also your leads. More than 90% of customers read reviews before buying products or services online, so you should try to get your clients talking. You may even go the extra mile by offering discounts or perks to your clients for leaving reviews – this is how valuable reviews are.
  • Email your customers. Emailing is a working tool – about 25% of people open non-suspicious emails – but you shouldn’t overdo it. Try not to generalize but cater to the specific needs of each category of buyers. Anything that can help solve problems is highly appreciated; sales pitches without any extra value are a big no-no.
  • Take advantage of social media. Insurance may not be the most viral industry, but social media cannot be ignored. The world is your oyster here. Post testimonials, video content, expert posts, interviews, etc. – whatever you think is the most useful for your readers. Also, it may be a good idea to schedule your posts – for example, you can post twice or three times a week on your website plus post some on-site picture on Instagram and even create some engaging content on TikTok (yes, even insurance can try and benefit from it) – to create the feeling of anticipation.
  • Create video content. Video marketing has become the most popular and effective, with about 75% of markets using Livestream video and half the businesses including video content in their email letters. Given the current technological capabilities, it’s not that hard to impress your viewers as long as you’ve onboarded a proficient and ingenious cameraman.
  • Work with influencers. While Instagram may not be the best platform to advertise insurance services, YouTube can do wonders. If you, for example, sell homeowners or real estate insurance, you might consider working with The Biggest Pockets, Graham Stephan, or Grant Cardone. For other niches, there are other influencers.

Measure Your Insurance Company’s Achievements Aka KPIs

There must be some subtle indicators to measure your content marketing performance aside from profits, right? The effectiveness of all the blog posts, infographics, case studies, interviews, and guides you release can be evaluated by measuring:

  • Unique page visits and on-page time.
  • Downloads (provided you have, say, a form to fill).
  • Links to your website and interactions (comments, shares, likes, followers, etc.).
  • Cost per lead (CPL) and cost per click (CPC).
  • The number of acquired leads and annual contract value (ACV).

Finally, it all leads you to the number of actual buyers you have. The advantage of this detailed analysis, though, is that it allows you to accurately identify your strengths and weaknesses and adjust your marketing strategy selectively without fixing what isn’t broken.



Oleksandr Rohovnin is a Content Marketer at Phonexa.com and an expert contributor to American REIA. His passion is digital marketing, innovative technologies, tech industries, and – above all – distilling vast amounts of complex information into engrossing narratives anyone can relate to. At American REIA, Oleksandr stokes passion for auto insurance and the automotive industry in general in every story he curates.

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