Hispanics in the US are Today’s Fastest Growing Population of Potential Insurance Consumers
When it comes to marketing strategies, insurance companies have a tendency to place too much emphasis on just one manner of driving business… or putting all their eggs in one basket. While this tunnel vision egg drop can pay off in the short-run, an insurance company that fails to spread its marketing eggs to multiple baskets is asking for future disaster. The importance of conservatively testing out other advertising campaigns isn’t just in determining what’s actually effective and in diversifying; it also means that if one preferred method stops working or becomes unavailable, the entire business isn’t then left scrambling for some untested spur-of-the-moment solution.
As far as diversification goes, ethnicity isn’t usually a target market concern for insurance agents. But, that doesn’t mean it shouldn’t be one. There’s an emerging market that many insurance companies are completely overlooking in their marketing strategies, and this market just happens to be the fastest growing population in the United States – the Latino race.
Latinos: Tapping into an Emerging Market
Latinos live all across the nation and are established, invaluable workers, business owners, religious figures, political figures, and consumers within our society. And, this population is growing daily. In fact, it has become standard for a caller to hear a prompt to continue in either Spanish or English when calling any national consumer-driven business. Yet, most insurance agents can’t speak Spanish and certainly aren’t familiar with the ethnic neighborhoods many Latinos call home. Many of these areas are host to their own culturally-based newspapers, shops, eateries, and so forth that are geared toward the Latino ethnicity and serve as an information portal for Latino consumers. There are also high populations of Latinos everywhere from the suburbs of small town America to penthouses in metro hubs.
Regardless of locale, the basic point of advertising is to inform potential customers of what an entity is offering and ask them to take action in response. However, the valuable connections and opportunity for clientele within the Latino community is often lost because insurance advertising is either absent or presented with a language barrier that makes a sale nearly impossible.
A Winning Combination: Bilingual Sales Force and the Highest Converting Leads in the Industry
Like any customer, there may be Latino customers that simply need more information before they make a decision to purchase insurance. Why miss out on a customer because of a language barrier between the seller and the purchaser? Having insurance agents, even if part-time or on an as-needed basis, that fluently speak Spanish can prevent such a simple sale barrier. If bilingual insurance agents aren’t feasible, then consider bilingual office workers that could perform translations as a secondary job role. Incorporating a phone center with bilingual operators to take calls directly from your office and as a number given on outside advertising is another way to ensure valuable leads aren’t lost because of a simple language barrier.
Finding The Right Lead Program For Your Budget And Needs
Of course, everyone has a marketing budget and will need to consider just how much can be put toward finding new leads, but do research all prospects well and look for an established, reputable online company. A good lead service will help you create and post low-cost English and Spanish ads online via PPC ads, YouTube videos, Facebook, etc that, when clicked, will capture the potential client’s contact information.