What’s the Cost of an Inconsistent Insurance Agency Brand?

You may have never thought of insurance agency branding being that important. You have a name, a website, a logo and an office. But is it all working for you? Many insurance agencies overlook the importance of branding their business and lose the one thing the big box agencies can’t seem to get a grip on — a local and recognizable small business.

Let’s take the word “insurance” out of your business and just call your insurance agency a small business. Say you owned a flower shop, nail salon or pet grooming company. How important would your community brand become? Do you want to be the place everyone wants to take their dog? Would you lose traction if your image and your delivery were inconsistent? The answer is: of course you would.

So why in insurance is it ok for us to practice bad and bland branding, better known as blanding? Our business cards don’t match the brochure, and our website is less than glamorous. So how can we get recognition as the best agency in town? We stop blanding today!

Let’s imagine I own Pup’s Grooming. I have a great sign outside, the office is in a great location and everything outside looks friendly, inviting and like I am the best in town. But when you head on in, you see that the waiting room is dingy, the menu of services doesn’t match the sign outside, and the staff is not the friendliest you’ve ever seen. Would you want your very own man’s best friend to be groomed here? Probably not. The blanding hurt the business. You had high hopes, and they were suddenly dashed.

So What’s an Insurance Agency to Do?

If you want to command the insurance presence in your town, let’s start by getting something appealing for people to look at. When going out on a date, you don’t wear your sweats — you put your best foot forward. So ask: Is your agency hot date ready or ready for binge watching Game of Thrones? You have to be hot date ready if you want to take on the town.

Just like people go to get makeovers, it’s time to put your agency up for plucking, cutting, and throwing out the old clothes to usher in a new and modern look. So unless your brand is nostalgia, it’s time to freshen up the logo, brand colors and patterns.

Are you thinking, “but wait, I’m not a makeover stylist, I’m an insurance agent.” Yes, this is why you need to partner with professional branding firms that can take your agency’s look from being drab to being fab!

Throw Out the Old and Usher In the New

Just like they do in the makeover shows, it’s time to throw out the old clothes and get into 2019 with the new. This means updating your business cards, brochures and website. If it resembles the old brand release it into the world. Now you can do the hoarders style dumpster throw or you can replace as you run out, just try to run out really fast so you can keep things consistent!

If you must, you can hold on to one or two mementos, but they should be kept in museum-like glass boxes.

What Is the True Cost of an Inconsistent Brand?

According to the Brand Consistency Benchmark Report there is a 23% increase in revenue for a consistent brand. They also state that it makes it 30% harder to compete with you in the market. Who wants to make their lives harder? McKinsey & Company have stated that B2B companies with strong and consistent brands are 20% more successful than those that are weak or inconsistent.

If you are looking to enhance your insurance agency’s brand, let us know! We would love to assist!

 

Kelly Donahue-Piro is the Co-Founder of Agency Appeal and President of Agency Performance Partners.

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