With more than 27 million small businesses operating in the United States today, catering to entrepreneurs could easily be a full-time gig for independent insurance agencies. However, to gain the trust of small business owners, agents need to empathize with their pains.
This shouldn’t be too difficult as these entrepreneurs are probably faced with many of the same struggles that you and your agents face daily. To appeal to these enterprising go-getters, help them address those mutual challenges.
Maintaining positive cash flow is a constant struggle for many small businesses, especially during those critical first years.
Remind small business owners that independent insurance agents have access to many different insurance options that they won’t be able to find on direct writers’ sites. This means that you can provide cash-strapped small businesses with the absolute best price on the absolute best insurance package.
It’s also important to remind small business owners of the cash flow problems created when the unanticipated happens. All too often, small business owners who choose to go the direct route realize too late that resolutions can be slow in coming when you have no one to work on your behalf to resolve complicated insurance claims.
Small business owners often have to manage all aspects of their businesses single-handedly, which leaves them exhausted and frustrated.
While a direct-writer insurance company may seem easier at first, it requires business owners to know the ins and outs of required (and recommended) insurance policies and programs.
Remind small business owners that your independent agents are a part of their business team. Agents take the burden of knowing everything off of entrepreneurs, and they also remove the added mental stress of having to anticipate every potential problem that could arise to undermine their efforts.
Keeping employees happy and productive poses a challenge to many small business owners, but once again, independent insurance agents can help.
By identifying the best coverages at the lowest rates, independent insurance agents make it possible for even cash-strapped small business owners to provide competitive benefits to their employees. Since 62% of employees would leave their current job for better benefits, this could go a long way towards raising morale and keeping staff motivated.
Overhead costs can be problematic for small business as well. In fact, this is often the cause of owners attempting to do all the work themselves.
The fact is, business insurance is a necessary overhead expense, but it doesn’t have to be the expense that broke the camel’s back. Once again, your ability to compare prices and policies from diverse insurance companies means that you can help a small business owner keep overhead expenses low while protecting her business over the long-term.
As an insurance agent, the well-being of your clients should be front of mind constantly. As an independent agent, your level of service can be more personal than sales reps for a direct-insurance company. Use that to your advantage.
Many small business owners feel isolated and even depressed as they deal with the strains and struggles of entrepreneurship. They welcome support and encouragement. Give it to them.
Reach out to small businesses in your community and let them know that you’re looking for more than clients - you’re looking for partners. By supporting your local business owners, you support local business and the local economy, making your agency a very special part of the small business world.
Our marketing consultants are specialists in the independent insurance industry. We understood your struggles and concerns because we've experienced them ourselves. Let us help you make a connection with prospects.