Best Form of Advertising

MB74

This has possibly been asked before but I'm sure it differs from sector to sector.

I have had a relatively good start to the year, blame the recession! More enquiries through the door and more new business, but this only keeps pace with what the recession is doing to some of our clients. I would love to get more enquiries through the door. What do people feel is the best form of advertising in the financial sector, or perhaps more simply put, if you were looking for an insurance broker where would look?

Thanks.

seven-iron

Here's my ideas, not perfect but are my suggestions.

A: Through your existing clients i.e. referrals. once you've done some business with someone ask "would you know anyone would appreciate my service?".

B: (if you have a website) -Google Ads. When people are looking for insurance now they go straight to the net. Theres no fixed fee either, you pay per each click. The idea with this is you are getting people when they are hungry i.e. when they are looking for insurance and you have a good chance of getting some business going your way.

Phrio

seven-iron wrote: »

Here's my ideas, not perfect but are my suggestions.

A: Through your existing clients i.e. referrals. once you've done some business with someone ask "would you know anyone would appreciate my service?".

B: (if you have a website) -Google Ads. When people are looking for insurance now they go straight to the net. Theres no fixed fee either, you pay per each click. The idea with this is you are getting people when they are hungry i.e. when they are looking for insurance and you have a good chance of getting some business going your way.

Have to agree the first one is known to be the best form of advertisement you can get.... good word of mouth. It is more difficult to get than say a good ad in a newspaper as paper never refused ink, so is therefore more value in the ear of the potential customer.

An idea may be to offer large organistions discounts, eg team up with sports clubs you are a member of (or know people in) and give them reduced rates... the more people you make happy with your service even if not at great margins the more good word of mouth advertisements you get etc..

With your line of business also the more clients now the more chance of renewals so even if not great margins now will be able to increase margins after a loyalty is built due to good service

gypsy777

I would say a combination of SEO (search engine optimisation) and PPC (pay-per-click) marketing is fast becoming the best form of advertising.

You get a much better and measurable ROI than conventional forms of advertising.

Of course you can't beat word of mouth referals but thats not really in your control...other people mouths that is.

D.W

Affiliate marketing-i.e pay your happy customers some commissions to refer others and kill 2 birds with the one stone. Make it 100% legit and you could have a few hundred people actively promoting your service (if its good and they are actually happy with it)

TheCostumeShop.ie: Ronan

For me the only form of advertising that works in the financial sector is word of mouth. If i am going to move bank / pensions / investments i call people i respect and ask them what they think of their current providers.

So if i were in your shoes i'd be calling the clients that have benefited most from your service, ask them are they happy with it and do they think you could do anything better. Then if they agree your doing a great job ask them do they have any friends or associates that they would recommend you to. Even offer them a discount (which would be in Lou of the customer acquisition cost) if they join and tell them its because you are trying to build your list of customers just like them to add perceived value.