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9 Tips for Brokers to Help Grow Your Business in 2024

We share 9 actionable tips to help benefits and insurance brokers grow their business in 2024 and beyond.

Lucy Leonard

by Lucy Leonard - May 23rd, 2024

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Staying ahead of the game is essential for growth when it comes to benefits and insurance brokerage. But this has become even harder as the market has become saturated with more brokers, technology, and offers. 

If you want to get ahead, it's time to revitalize your approach and embrace strategies that resonate with today's clients. 

Here are nine actionable tips for brokers to amplify your business's success this year:

1. Get On The Speaker Circuit

Become a thought leader by sharing your expertise at industry conferences, webinars, and seminars. Position yourself as an authority in your niche area of expertise, attracting clients who seek your knowledge and guidance. Consider applying to speak at a conference like:

2. Meet In Person

While digital communication is convenient, nothing beats face-to-face interactions — especially when it comes to sales. Schedule coffee meetings, lunches, or networking events with potential clients, partners, and other industry leaders to establish trust and rapport and to increase your personal brand. Personal connections often lead to long-term partnerships. 

Another idea? Consider inviting prospects to a local charity event or offering them tickets to an upcoming industry conference.

3. Head To Events

Speaking of conferences…be sure to attend industry-specific events, trade shows, and networking gatherings to expand your professional network, even if you’re not speaking. Strike up conversations, exchange business cards, and follow up with personalized messages afterward. Remember, every handshake is a potential opportunity. 

4. Partner With HR Platforms

Forge partnerships with HR platforms to streamline benefits administration for both of your clients. By integrating your services with platforms like GoCo, for instance, you offer added value to clients while accessing a broader audience. Collaborate with these platforms to host joint webinars or provide exclusive offers to mutual clients. 

Many HR platforms also offer referral bonuses when you share your clients with them. It’s the best of both worlds: you get a bonus, and your clients get amazing HR tech!

5. Build Referral Programs

Current clients are also a great source of new business. Encourage satisfied clients to become brand ambassadors by implementing referral programs. Offer incentives, such as discounts or gift cards, for every successful referral they bring to your business. Leverage satisfied clients' networks to expand your reach organically and cultivate a community of advocates.

6. Create Actionable Content

Share valuable insights and resources through content marketing to position yourself as a trusted advisor. Produce blog posts, whitepapers, or video tutorials addressing common pain points or industry trends. For instance, you can craft a guide on "Navigating Open Enrollment in 2024" to empower clients with actionable strategies. 

Many B2B websites and blogs will also allow you to contribute content, helping you increase your website’s DA score (hey, SEO!), grow your personal brand, and reach audiences already in your target audience.

7. Grow Your Social Media Presence

Harness the power of social media to amplify your brand and engage with potential clients. Maintain an active presence on platforms like LinkedIn, Twitter, Instagram, and even TikTok to share industry updates, client testimonials, and helpful tips. Utilize targeted advertising to reach specific demographics and drive traffic to your website.

Try using engaging content, rather than straight sales tactics, on your social channels. Some ideas include:

  • Compliance alerts

  • Sharing job postings from your clients

  • Real-life stories and experiences

  • Memes

  • “Snackable” video content

  • Polls 

8. Ask for Testimonials from Clients

Don't hesitate to request testimonials from satisfied clients. Incorporate these endorsements into your marketing materials and website to build credibility and trust with prospects. A glowing testimonial or recommendation can sway hesitant clients towards choosing your services over competitors.

9. Keep Learning and Stay on Top of What’s Happening in the Industry

Continuously invest in your professional development to stay abreast of industry advancements and regulatory changes. Attend workshops, enroll in courses, or join professional associations to expand your knowledge and skills. By staying ahead of the curve, you position yourself as a proactive and reliable partner for your clients.

Final Thoughts

Implementing these nine tips can propel your business towards growth and success by embracing innovation, fostering meaningful connections, and staying committed to delivering exceptional value to your clients. 

By adopting a proactive mindset and leveraging strategic opportunities, you'll navigate the year ahead with confidence and resilience.

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