Episode 19Niching down on Investment Properties with Keith Rocha
Welcome to Episode 19
The RICHES are in the NICHES. At least that’s what they tell me.
There are 2 schools of thought on this, but MOST agree that niching down on a specific product or service is the best way to grow an agency. Why is that? Well, 3 easy reasons are it allows you to clarify your message, stay top of mind with your clients and allows you to be an expert.
1) It allows you to CLARIFY YOUR MESSAGE. Which is easier to communicate clearly to a potential new client…We sell auto, home, rental, umbrella, life, disability, motorcycle and boat insurance OR we’re experts on investment properties. Think of how much easier your marketing would be. How much more clear your message would become and how much more defined your perfect customer avatar would be.
2) It helps you STAY TOP OF MIND. Clients and prospects will actually remember why they use you and as a result they’ll refer their colleagues and people they meet that are your perfect client.
3) It allows you to BE AN EXPERT. If you’re a generalist, you’ll spend a good amount of time researching all these different types of policies and how to write certain business or special circumstances. If you’re a specialist/expert for a certain niche, you only have to learn a handful of different policies and coverage options. Saving you and your staff a lot of time and energy that can be used to acquire more clients that hit your bulls eye.
Keith has been niching down on investment properties for a while now. I heard him talk about it at least 3 years ago and he’s about to start focusing most of their agency efforts on it. The commissions are higher and the amount of service is typically less than other types of policies/accounts.
Watch the show below or catch it on our podcast above.
My 2 biggest takeaways from this interview are:
- You can choose your niche. You don’t have to let your niche choose you. A lot of people see what’s coming into their agency and decide what niche they’re going to go after instead of being proactive and choosing a niche that they desire.
- Going after a niche is a fantastic way to set yourself apart from all of the other insurance agents out there. Instead of being a generalist, be a specialist.
“What you should be proactive going after and what you should be marketing for is what you want long term.” (Keith Rocha – Agency Owner)