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This episode of Insurance Marketing Live aired on August 31st, 2015 and was titled The State of Insurance Marketing.

We had over 100 insurance professionals at the show with more than 40 live viewers at the peak. Click here if you would like to subscribe to future episodes.

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Insurance Marketing Live Transcript

Ryan Hanley: How do you fit…There are people who naturally get it, so there are early adopters. But as an industry, I think all of us have probably said this before. We’ve been so successful for so long doing the things that we’ve always done. It’s how do you tell a business which is still doing very well, that the end is coming. It sounds even silly to say it. You’re like, eventually this digital marketing thing, you’re going to fall off the edge. You’re not going to be making $400,000 a year anymore even though you built your business the way you did.

I started to reposition. I’d love to get you two guys’ opinion on this. Joey, I’ll start with you once I finish. I’ve started to position it this way. I did this the other day. I was talking to some people at MetLife down in Charlotte. I said the things that we’re talking about – Brent, you, Joey, you, a lot of other people that I see that are on the call right now – the things that we talk about in terms of digital marketing, you don’t have to do them for your business to survive. I’m past that. I don’t think that’s going to happen. I think a lot of these businesses are so entrenched in the community that they’re going to do just fine. They’re not just going to fall away.

I think that if you want anything other than incremental growth, some part of this needs to be part of what you’re doing. Whether it’s email marketing, whether it’s using content to build a better on-boarding process for higher retention numbers, whether it’s buying PPC ads. There’s a whole landscape of things you could do. But to get past that, I can only grow as fast as this single human being can do, I think you have to start to add these things. I don’t know any way for a human being to scale themselves without these tools. If you’re looking to grow at that rate, I think you have to do that.

Joey Giangola: You bring up a very interesting point. The scalability of it is, yes, obviously the most attractive. But I think the down side to that, and this is where the industry needs to catch up, is the products and what we’re selling doesn’t necessarily scale as easily, I think is the challenge. Would anybody agree with that?

Ryan Hanley: Well, what I’ve always said is you’re selling a phone number. I think you’re scaling relationship building. All right, to your point, Joey, I think you’re right. In this industry today, the way that it’s sold, we are scaling relationship building. We’re not scaling sales. I do think that you can drastically reduce the sales process and the time to sell by using these tools. You’re scaling who you are and who your agency is and building that relationship to get the phone to ring more often and to ring with warmer prospects than if you were to just pick up the phone and cold call or go out to a networking event or try to pound the streets.

Joey Giangola: Do you think that’s what we should be settling for, though? I feel like we’re still then even just maybe selling something that’s five years old.

Ryan Hanley: Settling is a good question. Part of it is, I think, the reality of where we are, one. Two, to answer your question, though, Joey, I think part of it is the reality of where we are. There he is.

The other part is at Trustedchoice.com, we’ve had some negotiations with Google Compare a couple of different times, some conversations with them. They’ve said over and over again that both in the UK, where they originally launched, and now in California and as they expand out to other states, when an insurance consumer talks to a human being, has the highest conversion rate versus anything other than them sitting across the table. Their goal, even Google Compare’s goal, is to get agents’ phone to ring, not to get someone to buy online. They’ve just found that people don’t switch. They shop, they get a rate, and they never actually go through the process, or just a small percentage of them. When they put a phone number on there, they see much, much higher conversion rates.

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