October 26, 2020  
 
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Marketing a Disability Insurance Business

The value and earning capacity of a disability insurance business largely depends on the quality of its marketing efforts. But great marketing takes a lot more than hanging a shingle and hoping for the best.

Marketing a disability insurance business can be challenging, especially for business owners who lack a marketing background.

Customer loyalty isn't what it used to be. Cash is king in today's marketplace, so your marketing plan needs to focus on value messages.

Broadcast Advertising

No doubt about it, the Internet has had a dramatic impact on TV and radio advertising. Rather than tuning in for information, many buyers now prefer to get their news and entertainment through online sources. However, it would be a mistake to discount broadcast advertising entirely. Many disability insurance businesses continue to find ways to attract audiences to their brand through broadcast media. Best practices for the use of broadcast advertising require businesses to evaluate their target audience's listening or viewing patterns and then tailor their media purchases to specific media outlets rather than blanketing the geography with brand messaging. When broadcast strategies are applied to disability insurance businesses, the target audience is almost always local or regional. For broader reach, you'll likely need to look beyond broadcast venues and explore other online and offline marketing vehicles.

Hiring A Marketing Firm

Sooner or later, most disability insurance business operations turn to marketing firms for guidance. Unless you have a marketing background, you won't be able to touch the ROI you'll receive from a professional firm. Does a marketing firm cost money? Sure, but not as much as you may think. When it's time to look for a marketing firm to represent your disability insurance business, the first thing to look for is marketing experience. Avoid young marketing firms staffed exclusively with inexperienced hot shots. Novice marketers bring a lot of passion to the table, but they also tend to embrace high-risk marketing strategies that lack the payoff you'll get from an established firm.

Marketing Collateral

Every piece of collateral your disability insurance business creates is a tangible reflection of your brand distinctive and core values. To squeeze the most impact from your collateral, it needs to be targeted toward its recipients. Delivered to the wrong person, a valuable piece of collateral will collect dust. Collateral distributed through direct mail channels realizes its highest return when it is paired with an updated mailing list from a top mailing list vendor. If you're like most business owners, you invest substantial resources in the creation of quality collateral. If you don't invest similar resources in mailing lists and other distribution channels, your disability insurance business's marketing collateral will be wasted.

Additional Marketing Advice and Related Articles

Ready to learn more? You may find these additional resources to be of interest.

Television Advertising Costs

Internet Marketing

Selling a Disability Insurance Business


Conversation Board

It's hard to cover all there is to know about marketing disability insurance businesses in a single article. If you have any additional comments or questions, please let us know. We'd also appreciate if you let others know what you've tried as far as marketing goes and how it worked out for you.


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