3 Easy Ways to Build Your Insurance Sales Territory

Successfully establishing your insurance business in a specific geographical area will do wonders for prospect conversion.

Not sure how to develop a territory? Here are some great growth strategies you can use to increase your community presence and establish yourself as the senior health insurance professional in your area.

Make Use of Traditional Marketing

Traditional marketing methods are tried and true. While they don’t always provide an immediate return, they help with getting your name out there and raising awareness of your brand.

What traditional marketing methods should you employ?

• Sending direct mail
• Purchasing leads (compliantly through IntegrityCONNECT Leads!)
• Marketing in local businesses via business cards, flyers, push cards, etc.
• Placing ads in local newspapers
• Taking advantage of other miscellaneous opportunities (e.g., sponsoring a local sports team, putting your ad on restaurant placemats, doing radio ads, etc.)

Consider your audience — those 65 and older (who you’re likely selling Medicare plans to) are more likely to pay attention to traditional marketing sources like newspapers, TV ads, and radio commercials than a younger audience.

Simple and direct messages are key for connecting with seniors via traditional channels. Don’t underestimate the power of a direct mailer or newspaper ad to start connecting with new clients!

Build Relationships with Organizations

Affinity partnerships are powerful. They provide access to another group’s members or patrons and feed you referrals.

Which Organizations Make Good Affinity Partners?

A good affinity partner will help advertise your business to potential clients and generate referrals. Try teaming up with:

• Professional organizations
  • Property and casualty insurance agencies
  • Group insurance agencies
  • Tax preparers, retirement planners, law firms, etc.
• Community organizations
  • Senior organizations
  • Retirement communities
  • Libraries
  • Churches
  • Rotary clubs
  • Senior fairs or other events (e.g., health screenings)
• Medical organizations*
  • Doctor offices
  • Pharmacies
• Other organizations
  • Grocery stores
  • Malls (rent a kiosk!)

*Remember, agents selling Medicare cannot strictly advertise their business in these spaces. You are welcome to form valuable relationships and connections with them, but you are not permitted to advertise your services. Outline to these partners that they are welcome to recommend you by word of mouth if someone mentions needing assistance, but you are not allowed to leave behind marketing materials or have a presence in the office.

Best Practices for Building Affinity Partnerships

As you prepare to approach potential business partners, there are a few things you should keep in mind.

Upon introducing your idea to your contact, you should explain why the group and their clients would benefit from partnering with you. Then, offer to do Medicare 101 trainings or educational events. You can eventually offer to do sales events, but they’re a harder sell.

If the organization is interested in working with you, try getting some events on their calendars. If they do a circular, inquire if you can help fund it in exchange for some advertising space.

Ask your contact if you can leave business cards, flyers, table toppers, etc., in the building. And lastly, check if the group will host a landing page, web banner, or link that takes people to your website on their website.

Speaking of best practices, get all of that and more in our guide,The Insurance Agent’s Guide to Establishing Successful Affinity Partnerships.

Work Your Existing Book of Business

Building a larger client base is great, but don’t forget: You can generate referrals, create positive word-of-mouth advertising, and increase your chance of retaining clients by putting past customers first.

Treat your existing clients well by:

• Learning things about them (e.g., their job, kids’ names and ages, and favorite sports team)
• Sending out birthday and anniversary cards
• Hosting fun member events (e.g., ice cream socials, picnics, etc.)
• Holding annual benefit reviews

Becoming known as the neighborhood go-to for Medicare assistance takes time, dedication, and legwork (figuratively and literally). However, all that comes with the territory, though, now doesn’t it?

Compliance Reminder: Agents must follow CMS’ Medicare Marketing Guidelines. For a quick review on how to stay compliant, check out our posts on the do’s and don’ts of Medicare compliance, rules for hosting educational events on Medicare, and rules for hosting sales events on Medicare.

We’re committed to helping agents grow consistently and compliantly. Register with Ritter today to have an FMO in your corner that champions your growth and provides tools and sales support to help you build your insurance sales territory!