October 17, 2020  
 
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Marketing a Flood Insurance Business

A profitable flood insurance business is about more than supply and demand. It's about designing ways to entice new customers to engage with your products and to encourage existing customers to increase the frequency of their purchases.

Young business owners are often surprised to learn that marketing isn't as intuitive as they thought it would be.

The marketplace is constantly shifting to accommodate consumer demand and that means businesses need to adapt their marketing requirements accordingly. The consistent application of solid marketing principles is one of the few business requirements that has stayed the same.

Competitive Awareness

Good marketing begins with an awareness of what your competitors are doing to attract customers and stir up sales. Innovation is desirable in marketing, but if your company doesn't maintain a presence in the channels that are being used by other flood insurance businesses, there's a good chance that you're missing something. At a minimum, we recommend seeking a third-party perspective before you adopt any innovations that dramatically alter your marketing model.

Give Word of Mouth Marketing a Try

Industry-leading flood insurance businesses rely on a certain amount of word of mouth marketing buzz to communicate brand values and product messaging.

Many business owners mistakenly believe that word of mouth is largely outside of their control, when in fact, networking and other strategies can significantly increase the amount of buzz that is generated about your brand. Mind you, there's a difference between word of mouth marketing and viral marketing -- if word of mouth marketing is a new concept for you, you might want to hire a marketing consultant.

Promotional Calendars

Sloppy marketing programs have no place in growing flood insurance businesses. Instead of offering special promotions on the spur of the moment, we recommend creating a promotional calendar for the fiscal year. Although you can adjust the calendar as needed, advanced planning makes it easier to connect your company's marketing tactics to sales objectives, inventory levels, staffing, and other areas of the business. When used in tandem with a quality mailing list provider, promotional calendars can ensure the continuous execution of direct mail campaigns.

More Articles on Marketing

Given your interest in marketing and in flood insurance businesses, you might find these additional resources to be of interest.

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Conversation Board

It's hard to cover all there is to know about marketing flood 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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Ready to Start Your Own Flood Insurance Business?

For tips on how to start a flood insurance business, these resources provide helpful advice:

How to Start a Flood Insurance Business

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If you consider flood insurance businesses to be sales prospects, there's more useful information for you elsewhere on our site. Try these instead:

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