Alphabet Soup
July 14, 2010 by Maureen Wall Bentley · 3 Comments
One of the first eye-openers I had when moving to the Washington, DC, area some 20 years ago was that virtually every organization in the vicinity has an acronym. Whether a military entity, high-tech company, government agency or association, they all are awash in unfathomable letters. Sure, we know the FBI and IRS, and we all have USB ports in our laptops, but have you ever hear of NASPGHAN (North American Society for Pediatric Gastroenterology, Hepatology and Nutrition) or MANPADS (man-portable air-defense system)? Even a Beltway veteran like John McCain can be overwhelmed by this lettered nonsense (see video clip).
Does a Good Brand Really Make Dollars and Sense?
Brand can be a “squishy” subject — it’s not concrete like product or overhead. With those you can attribute a certain cost and a definite return on investment. If you hire a new producer in an insurance agency, you know you’ll have overhead, but you expect that producer to bring in enough new business to cover the costs, and more. If you offer a product, you know what you’ll make in commissions.
With brand, you can see some of the costs — training, marketing, advertising, etc., but it’s often hard to quantify the impact on your bottom line.
On Point with Peter van Aartrijk and Rick Morgan, Episode 19: Having Fun Growing Business
May 11, 2010 by admin · Leave a Comment
“On Point, with Peter van Aartrijk and Rick Morgan” is an audio conversation with insurance industry leaders who champion change and challenge all of us to think.
Linda Rey is a second-generation agent and owner of Rey Insurance in Sleepy Hollow, New York. Frank Rey founded the agency in 1978 to serve bilingual clients in the local community.
Linda discusses how she has incorporated the use of social media into the agency’s marketing strategy. For Linda, it was an “effective way to be present, visible, and increase awareness and exposure.”
On Point with Peter van Aartrijk and Rick Morgan, Episode 17: Integrating the Social Web in a Large Agency
April 13, 2010 by admin · Leave a Comment
On Point with Peter van Aartrijk and Rick Morgan is an audio conversation with insurance industry leaders who champion change and challenge all of us to think.
So, how does a large independent agency with multiple offices approach new marketing and communications opportunities on the social Web? They apply it first inside their own firm.
Peter and Rick spoke with two representatives in IT and communications at a forward-thinking independent agency, Holmes Murphy Insurance. Based in Des Moines, Holmes Murphy has 13 offices in 11 states, 500 employees, and 77 years in the market. Read more
Brand = Value
April 5, 2010 by Maureen Wall Bentley · Leave a Comment
So, you’re thinking about the value of your independent agency. Maybe you’re considering selling it, or merging with another firm, or maybe you just want to know what it’s worth in this marketplace. Now, what if you could increase your agency’s valuation multiple by 100 basis points—say from 5.00x to 6.00x? Would you spend a few hours learning how?
You Want Help with Social Media!
October 3, 2009 by Peter van Aartrijk · Leave a Comment
Aartrijk Brand Camp—held in Chicago Sept. 28-30, 2009 and continuing on the virtual calendar of online conversation—was all about the risk and opportunity of social media in our Wonderful World of Insurance.
We had pre-surveyed attendees at Aartrijk Brand Camp. These were agents, brokers, carriers, association executives, media reps, and business partners such as technology firms.
In sum, you have genuine concerns and questions around the impact and application of social media. You are being cautious about stepping into fray.
Here are some top issues you are having with all the excitement behind Linkedin, Twitter, Facebook, etc.:
Social media appears to be a time vampire. How do you manage the time you and your people spend with it?
How do you show a return on the effort? One survey respondent said: “While time spent on informing/communicating with fans helps build relationships, does that turn into referrals?” And sales?
We don’t know where or how to start with social media. We need a plan and a budget and somebody in charge—who is that going to be?
The internal battles are brutal. How do we get our management on board? And our legal beagles are putting the kybosh on us branding folks—the IT department isn’t helpful either. One of you said, “The current rule is to run all printed copy past the marketing and legal departments. Social [media] requires a more relaxed, conversational tone to be authentic and trustworthy…[But] it is viewed as more of a risk than an opportunity.”
We’re not sure when we should start! One of you said: “Maybe it’s better not to put a toe in the water until this new frontier matures.”
Who in insurance has gone before us? What are the best practices around building brand awareness with social media? “We need success stories.”
Who is this for? Is social media best for business-to-business? Business-to-consumer? Both? Neither?
Finally, do insurance and financial services play a role at all in social media? Do consumers care about us? We’re not worthy! We’re just not cool enough!
Ah, yes, great questions. Stay tuned for some solutions offered up by Brand Camp attendees.
– Peter van Aartrijk
Follow Aartrijk on Twitter: @Aartrijk. Follow Brand Camp conversation on Twitter using hashtag #ABC09.
Purpose Marketing: Reach the People who Count
July 16, 2009 by Peter van Aartrijk · Leave a Comment
(As published in Professional Insurance Agents, July-August 2009)
In this economy, is money spent on advertising, marketing communications and promotion wasted? After all, price-sensitive consumers are trying to hold on to their money. Some have lost their jobs; others are worried they’ll lose theirs; and some studies show consumers are forgoing certain coverages.
If you think the money is wasted, think again. Agency owners are maintaining or increasing their investment in communications.
In this environment, your weaker competitors are out of the way or aren’t making as much noise, so you can take advantage of the available space or time. At the same time, your stronger competitors haven’t stopped marketing, so you ought to keep pace, or your book of business may be at risk.
…continued
Download the complete PDF article
-Peter van Aartrijk