At the start of this retention series, in the first post I listed a handful of tools or actions an agency can begin to seem immediate retention improvement.
The first listed was NEWSLETTERS, but nothing more was said.
In this final post on retention, lets delve into the details of putting a newsletter into action.
Why do you need one?
As mentioned before, customer contact is key to improving insurance customer retention, and the newsletter is a great foundation to Customer Communication Plan.
Also they can be very easy to setup and automate with little expense, creating a high return on investment.
So how do you set one up?
1. First, scrap the paper. Yes, I have read some studies that suggest a paper newsletter mailed out to customers gets read more than an email newsletter, but there are drawbacks to paper.
Paper is expensive. A newsletter will easier cost $.50 to $.60 a piece. If you do that monthly on a 1000 customer book, you are easily dropping $500. Yet that same newsletter in an email format would be free to $30 a month.
Paper is harder to generate a call to action. Email makes the call to action much easier, because you can create links to email or your own landing page.
Paper is harder to track results. Most email services will tell you whether something was opened and links have been clicked. It’s easier to split test emails
2. Choose an email service. There are multiple ones to choose from: Aweber, Mailchimp, Constant Contact. You will not find a consensus among marketers about which is the best. Explore on your own. I use Mailchimp for my newsletter and have found it easy to use.
Mail services are great because of the tracking ability, and they allow you to set up unsubscribe features, so you don’t feel like a spammer.
They also provide templates that allow you to drag and drop content in professional looking design. Most will make sure their templates are mobile friendly as well.
3. Gather your email addresses. For newsletters, don’t limit these to current customers, but include prospects and lost business. They will unsubscribe if they don’t want the content.
4. Create a content calendar. Monthly is an appropriate schedule for best results, but you don’t want to scramble each month to come up with new ideas. Spend a couple hours looking over a calendar, and deciding which topics are appropriate to each month. Don’t just think insurance topics, but what is going on in your community. Will you have parties in the office at certain times of year that you will have pictures you can place in the newsletter?
This may lead to the question: Where do I get content? The easiest place is your companies. Many will have sample newsletter content that you can easily copy, paste, and adapt to your agency. One carrier offers almost 70 distinct newsletters. That will keep you going for nearly 6 years–not bad.
5. Finally, block off time to set everything up, and automate as much as possible.
So do you have one in your agency? Any tips for the readers? Please comment below.
P.S. I hope you enjoyed this retention series. Look out for the May newsletter for next month’s topic.