Pierre Bourdeau—Director P&C Insurance Marketing
Last year we discussed planning and executing an acquisition marketing campaign. An acquisition campaign targets individuals who are already aware of your brand and believe in your value proposition, making them prime candidates to become new customers.
But if your brand is unknown, acquiring new customers is much more difficult.
Where to Start
If you need to wipe your nose, do you ask for a facial tissue? Do you reach for an adhesive bandage if you cut yourself? No—you probably look for a Kleenex and a Band-Aid. People are so aware of these brands that their names have replaced the generic brand term. This phenomenon is referred to as a proprietary eponym. This may not be achievable by insurance organizations, but there are lessons to be learned here. You can develop some strategies to introduce your brand to your audience, starting with building a brand awareness campaign.
Brand Awareness vs Recognition
Brand awareness at its core is the extent to which people and potential customers are introduced to your brand. But brand recognition goes a step further—it’s not only knowing the name and look of a brand but also being familiar with its personality, values, products, and other differentiators. When you see the iconic golden arches, you immediately think of McDonald’s—awareness, and you know you can get their iconic French fries and a Big Mac quickly and for a low price—recognition.
Benefits of a Brand Awareness Campaign
Creating brand awareness involves introducing potential customers to who you are, what you stand for, and why they can trust you. It’s not about the fact you sell insurance or the access you have to markets that offer great coverage or discounts. It’s about building relationships, being present in your community, and creating a mindset among your target audience. Then, when it’s their time to buy or renew, they’ll automatically think of your brokerage.
Forming a campaign to raise awareness also gives you control over what message you want people to hear about your brand. Plus, you can tailor that message to resonate specifically with your target customers.
The Bottom Line
You see brand awareness campaigns all the time. Nike has their Just Do It campaign, Coca-Cola has consistently told us to Share a Coke, and we’ve all heard McDonald’s tagline—I’m Lovin’ It. These three brands have all kept their message clear, concise, and consistent. They also each ooze emotion, which makes us feel something when we see their ads.
As a broker, you may wonder how you can compete with the mass marketing budgets that big brands have at their disposal. The truth is that running a mass brand awareness campaign can be affordable and attainable. It can be as simple as having a consistent presence in your local communities by utilizing local media outlets or sponsoring local activities. Allow people to be introduced to your brand and help them understand who you are and why they need to rely on you when they need insurance.
In our next Marketing Minute, we will dive into what makes a great brand awareness campaign, and how to include one as part of your overall marketing strategy.