When it comes to your reputation, publicity -- that free media exposure you get through mentions of your name or products in the news -- is more valuable to your insurance business than most other marketing techniques. In fact, studies conducted at Harvard Business School estimate that free news mentions are 10 times as valuable as paid advertising.
That's because exposure in newspaper and magazine articles or on broadcast news programs brings with it an implied editorial endorsement that gives you instant credibility.
Typically, reporters quote the same "expert" over and over. It doesn't matter if this expert is the best or the worst at what they do. People see the quoted professional's name in the paper more than they see that of any other individual in the field, and this source starts to enjoy name recognition.
But ongoing media exposure doesn't happen by chance. The source who is repeatedly quoted gets their name in the news by working at it. They find out who covers the types of stories or articles they can contribute to, and they develop relationships with these reporters, editors, or producers. Perhaps the professional calls news outlets to suggest story ideas. In most cases, the kind of free media exposure that generates new customers takes effort -- not a lot, but a little.
And most of it can be done on a slow day or during evening and weekend hours.
To secure this free media attention, you just need to understand four simple concepts: The press won't know how great you are unless you tell them; you must do something newsworthy or offer information that is useful; you must package your news in the proper format; and your information has to reach the right editors, reporters, and producers.
1. The press won't know how great you are unless you tell them
Did you win a best practices award from the Independent Insurance Agents & Brokers of America? Were you honored for your work with a local civic organization, such as Kiwanis? Let the business editor at your daily or weekly newspaper know.
2. You must do something newsworthy or offer information that is useful
It's not enough to be good at what you do. You have to do something of interest for others in the community to get free media attention.
One of the best ways to stay in the media limelight is to offer useful how-to information in the form of a tip sheet, a type of press release that offers tips or advice in a bulleted or numbered format. What do your customers ask about most often? What do you know a lot about that you wish your customers and prospects knew?
Here are a few topic ideas to get you started:
o Seven things most consumers don't -- but should -- know about buying life insurance
o Five unexpected ways to save for college
o The six most helpful financial planning Web sites
3. You must package your news in the proper format
The best way to spread news related to your business is with a press release. Present the key facts -- the who,what, when, where, why, and how -- starting with what's most important and ending with what's least important. Include a contact name, telephone number, and email address so a reporter or producer knows who to call for more information.
Another commonly used tool is an emailed pitch letter, used most often to sell a journalist on a story or broadcast segment idea. When using email to make a pitch, explain the idea and why it's of interest to the readers or viewers. Make a compelling case for your concept, using statistics whenever possible. Include background information and additional interview sources.
4. Your information has to reach the right editors, reporters, and producers
For your purposes, that might be a reporter for the living or business sections of the daily paper, a community reporter at your weekly newspaper, or the assignment editors at the television stations. Assemble your press release mailing list by monitoring the newspaper for the bylines on personal finance stories, and call additional media outlets and ask for the names of the appropriate staffers.
Be available to these people when they contact you to ask questions. Respond quickly to calls or emails. Journalists work on deadlines and will call your competition for input if they don't hear back from you quickly.
It takes only a small but consistent effort to get publicity that generates new customers, credibility for your agency, or status in your community as an expert. Remember, the media won't know about your business unless you tell them -- so get the word out.
Sandra Beckwith is the author of "Streetwise Complete Publicity Plans: How to Create Publicity That Will Spark Media Exposure and Excitement," a how-to guide for small businesses. For more information, visit buildbuzz.blogspot.com.
