Marketing is one of those areas that is probably best left to professionals, and one of the biggest challenges that insurance agents face in today’s competitive market is identifying the insurance marketing organizations that perform well and get results. After all, most independent agents are licensed with as many as 25 or more insurance companies because they need to have the most competitive products and an array from which to choose from. This allows them to provide the best product solutions to their prospects and clients.
Generally speaking, a marketing organization (a.k.a. AFMO, FMO, IMO, NMO) is a third-party intermediary between independent licensed insurance agents and insurance company home offices, providing economies of scale for product manufacturing and distribution.
This third-party intermediary provides recruiting, contracting and agent licensing services for the insurance company while also offering continuing education, marketing, sales support, and other services to independently contracted insurance agents in exchange for a fee for their services.
Of course, a couple of important aspects of this relationship are trust and confidence. It helps immensely if you like the staff within the organization, and that you feel valued and appreciated, and also that they’re spending the time to get to know your company and can provide the type of results you’re anticipating.
Ask yourself some important questions, for example, do the principals know you and remember details from your previous conversations with them? Do they respond to your concerns and really care enough to go the extra mile? If you don’t think that it is truly a good fit then perhaps you should end the relationship before you’re in too deep. There are plenty of fish in the sea, and you’re satisfaction should be the number one priority.
Don’t take this decision too lightly, after all, your success is dependent on your partnering with an insurance and financial service marketing and consulting firm that is dedicated to meeting the distribution, marketing, and administrative needs of professionals like you. There are plenty of choices when it comes to insurance marketing organizations, so take the time to discover which one will outperform all of the others.