B2B Life Insurance Marketing Tips
When it comes to life insurance, many agents and advisors focus most of their efforts on consumers. This can be a wide-open market that consists of young families, those nearing retirement, and everyone in between. However, it would be a mistake to overlook the equally-open territory of small businesses. Many business owners may not be aware of how life insurance can be used to enhance their operations. Marketing to these entrepreneurs often requires a different approach than you would take with the average consumer.
Use the following tips to enhance your B2B life insurance marketing efforts.
Credibility and trustworthiness are two crucial elements of any relationship. When targeting consumers, agents and advisors often rely on various content marketing tactics (educational materials, articles, etc.) to establish a sense of trust. However, converting a business owner might require extra effort on your part. Don’t be afraid to get out there, shake some hands, and do a little schmoozing. Face-to-face networking is one of the most effective B2B marketing tactics an agent or advisor can put to use.
Chamber of Commerce
Joining your local Chamber of Commerce can be a good way to get face time with a wide variety of business owners, non-profits, and economic development entities. Attend chamber meetings on a regular to build relationships with other members. Doing so will also show you have a vested interest in the local economy. This can go a long way with other entrepreneurs.
Additional Business Networks
Most communities have loosely-knit groups that exist for this exact purpose. These are usually established by other local business owners looking to establish B2B relationships of their own. In many cases, these groups consist of business owners who don’t belong to their local Chamber of Commerce but still seek networking opportunities. These casual get-togethers are great chances to exchange marketing ideas, meet local media personalities, and make new B2B connections.
Knock and Talk
There’s something to be said about the straight-forward approach. Keep an eye on new businesses opening up in your area. News outlets and your chamber of commerce can be a good resource for this. Attending ribbon-cutting ceremonies can be a great opportunity to show support and introduce yourself to the owner(s). If the business is located near your office, make it a point to stop by on occasion. Simply popping your head in the door to see how things are going can lead to a productive, professional relationship.
Small business owners know how important it is to make a first impression with customers. From physical location to digital presence, successful entrepreneurs will pore over even the smallest details to make sure they come across as professional as possible. Why would they expect any less from you?
Be Organized and Professional
It doesn’t matter who the prospect is, or what they do for a living, your overall presentation is a crucial part of the sales process. That said, you should expect a higher level of scrutiny from business owners than the average consumer. In other words, professionals expect professionalism from other professionals. Assume you will be under a microscope from the start. Even the slightest hint of disorganization or poor etiquette can hinder a potential B2B relationship. When approaching business owners, it’s crucial that you put your best foot forward and strive to make a flawless impression at every point of contact.
Bring the Right Materials
Consumer-facing materials are a necessity when presenting life insurance information. Giving the prospect a brochure, pamphlet, or one-sheet to take home will give them the chance to go over details without feeling pressured by your presence. When pitching to a business owner, make sure you have materials that pertain to their business needs. Don’t overload them with extra brochures that aren’t relevant to the business applications of life insurance. Keep things on topic until they decide they’re interested in additional products, such as a personal policy.
Request our Life Insurance Overview guide, which includes sections on:
- Types of Life Insurance
- Benefits Beyond a Death Benefit
- Business Application of Life Insurance
- Life Insurance at a Glance