Having a solid brand is one of the most crucial parts of having a successful business – including insurance agencies. Do you know how many people are aware of your agency? Do you know how to measure this? If not, don’t worry. Today, we will discuss the best ways to track and understand your insurance agency’s brand awareness.
What is Brand Awareness?
The Oxford English Dictionary defines brand awareness as the extent to which prospects are familiar with the distinctive quality of a particular brand of goods for services (in this case, your insurance agency).
Is your agency the first people think of when they think, “who should I call for health insurance?” If so, that is an example of strong brand awareness.
How Can You Measure Brand Awareness?
Measuring brand awareness might seem daunting and unable to be quantified, but there are several relatively easy methods to measure your insurance agency’s brand awareness.
Surveys are a great way to gauge how clients and prospects came to know about your brand. You can also conduct surveys to see what clients think of your insurance agency, if they are satisfied with their coverage, and many more topics. Surveys like this help you grow your insurance agency in the right direction and ensure you give clients what they want and meet their needs. You can also conduct surveys on random participants to understand better those who are not your current clients and how often people recall your brand.
The great thing about surveys is that they can be delivered in so many ways such as email, telephone, website, or you can use a survey creation website such as Google Forms or SurveyMonkey.
Another way you can gauge your insurance agency’s brand awareness is by looking at your agency website’s traffic. (If your insurance agency does not have a website, click here to learn why your agency needs a website in 2022). Using Google Analytics, you can see the number and demographics of people who typed your URL into their address bar, click on your website from a bookmark in their browser, or click on a link from an email or offline document. To access this information, you should make sure you set your channel to “direct” on Google Analytics. Using this type of measurement can help you understand if your insurance agency is being recognized and “found” online by your target market. It’s important to note that you need to collect data for at minimum a few weeks before analyzing the data. If you only measure traffic for a day, the information won’t be accurate. Day-to-day traffic to your insurance agency’s website can vary, but a more extended sample size will paint a more accurate picture of who you are reaching online.
Engage with Prospects
Engaging with your prospects is a fantastic way to get people to be more aware of your brand. Clients are more likely to purchase a policy from an insurance agent if they feel like they can trust them. By communicating with clients and prospects regularly, you build that trust. Engagement allows you to thank customers for purchasing a policy, find out if clients are satisfied with their coverage, and will enable them to give you feedback on your products and services as an insurance agent. Maybe you or one of your agents was not having a bad day, and you missed something in your fact-finding process that resulted in the client being enrolled in a Medicare Supplement plan that they are not happy with. Engaging with clients outside of appointments allows you to apologize and resolve mistakes like this in ways that benefit the client and your insurance agency.
While the term “social listening” may be foreign to you, all it is is that you can look at what people in your target market are talking about on social media. Not only can you evaluate your brand awareness by seeing if prospects are talking about you, but it also allows you to communicate better with clients and prospects.
Social listening can help your insurance agency overcome response bias. Response bias happens in surveys because those who are taking the survey feel as though they are supposed to answer a certain way. When looking at their social media rather than a survey, you are more likely to see their genuine opinion if they have one.
These measurements can help you successfully measure and understand the awareness of your insurance agency’s brand. Implementing these techniques can help you get your insurance agency’s brand more in tune with your target market and keep you updated with your clients’ opinions and thoughts about you and your insurance agency.