When you first thought about opening an insurance agency, you likely visualized a name and maybe a logo as part of the business’s identity. From the beginning, you considered how your business would be perceived by consumers, how they would interact with it and how it would contribute to your reputation. Whether consciously or not, you were thinking about your agency brand.
Over the years, an agency’s brand evolves with its service offerings and the world around it. Today, 70% of purchase decisions are based on emotion, according to a study by Gallup, so branding that consumers like and relate to emotionally can be a revenue generator. There will come a time when the original brand no longer serves the agency or evokes consumer emotions, and decision makers will consider rebranding to bring new life to the business and realign themselves to fit their client’s needs.
Should you rebrand?
Read the full article, by Doug Coombs, SIAA’s Chief Marketing Officer, Published July 10, 2023 on InsuranceThoughtLeadership.com.