As the old saying goes, "People don't care how much you know until they know how much you care." Producers can build more business and strengthen relationships by demonstrating a commitment to a multicultural community through involvement in civic and youth organizations, business networking groups, and other associations committed to improving the quality of life in a particular locale.
By helping independent agents participate in existing community events through sponsorship, or perhaps developing one of their own -- a financial health fair or seminar, for example -- IMOs and BGAs also can demonstrate their long-term commitment to the viability and vitality of a community they wish to serve.
And it doesn't just have to be event-related. A producer, as well as an IMO, BGA, and even a carrier, can easily illustrate their presence in the community through advertising and promotion. Co-op advertising dollars go a long way toward building the brand and the business of both the producer and the co-op partner. Community newspapers, outdoor advertising (e.g., billboards, transit signage), multicultural radio stations, and in-language cable television networks are excellent promotional vehicles that IMOs and BGAs can use at very reasonable costs.
Advertising in either print or broadcast mediums can sometimes be leveraged with publicity in local news media, such as in a profile on the producer. Or the producer can offer himself or herself to the media as a subject matter expert on insurance or personal finance.
IMOs and BGAs should also assist the independent producers in long-run marketing campaigns that emphasize the stability and reputation of their organizations and the quality of the insurance products they provide.
Editor's Note: The preceding tip was taken from "The Multicultural Buzz is On - Do You Hear It?," by Rick Niu, which ran in the May 2007 issue of Life Insurance Selling. Click here to read the entire article.
To read last week's Tip of the Week, "Market yourself with a book," click here.
For more on multicultural markets, see: