The Importance of Finding Your Niche in the Insurance Market
There is no limit to the type of insurance available, or the types of things that clients want to insure. Not finding a specific area of the insurance market to conquer, will simply overwhelm both you and your client. Let’s talk about why it is so important for an independent insurance agent to find their niche.
Imagine you walk into a restaurant. One restaurant gives you the choice of three seasonal appetizers, three seasonal entrees and a few seasonal desserts. The other restaurant has a menu that’s 8 pages long and features everything from pizza to panang curry. Which restaurant would you rather eat at? You said the first one, right? Chances are that the chef in the first restaurant will know how to cook everything on the menu to perfection, whereas the cook in the second restaurant will have too much on his plate (literally) and cook everything with mediocrity.
Finding one specific area of the insurance market and becoming an industry expert in that area is your quickest path to prolonged success. This also gives you more credibility with potential clients because you’ll be able to provide them with more specific knowledge in each individual case, rather than a general sense of what your client may be looking for. If you can solidify your position as an expert in one area, someone that people look to for advice and answers, then you will quickly start to build up a good reputation in your community and with your future clients. Before you know it, people will be seeking you out, and the days of the cold call are over. Wouldn’t that be nice?
Not only will people start to see you out, but your peers and your fellow insurance agents and industry folk will start to refer your services to clients. And the more “niche” your niche is, the less competition you are likely to have.
A great reputation, enhanced referral business and little direct competition is your fast track to success.