10 Tips to Better Brand Your Business

In this article published in the Jan. 9, 2018, issue of BenefitsPRO, Rob Carnaroli, Sutter Health Plus Vice President of Sales, provides tips on how brokers can best serve customers by sharing their knowledge about the market landscape. 

Being a broker today is a challenge. Health care insurance laws are changing from one day to the next, employers are balking at rising costs, and employees are disgruntled and ready to jump ship.

The silver lining is that all of these challenges create an opportunity for brokers to step in and provide solutions. 2018 is poised to be a year of major changes, and the best brokers will find themselves coming out on top.

Here are 10 tips to help you take stock of your business and brand to define your niche and set yourself apart.

1. “If you don’t have your niche, you just become like every other broker. If you learn a certain segment of the business, then you become an expert.” —Felipe Barganier, GAB International

2. “Define your target audience…if everyone is your target audience, no one is.” —Marty Traynor, Mutual of Omaha

3. “There’s no substitute for a thoughtful, compelling story—a reason why your company exists, what you believe, and how you change the lives of your customers.” —Brian Harrigan, HealthFitness

4. “Look at your current block of business for commonalities. Do you have a natural niche in a particular industry or do you work with clients of a similar employer size?” —Adam Feltes, The Guardian

5. “Build your business by focusing on what you do best—double down on your strengths, and subcontract if there is expertise required outside of your niche.” —Kevin Kennedy, Tribe Insurance

6. “Know the current market landscape well, speak confidently about it and offer information on changes and trends. The ability to weed through and analyze information in the context of market trends and customer needs is where your expertise will shine.” —Rob Carnaroli, Sutter Health Plus

7. “Weird and unusual coverage requests [have made us] a go-to resource for business insurance, especially those businesses that don’t fit an insurance carrier’s typical profile.” —Susan L. Combs, Combs & Company

8. “Ask prospective partners about their ability to “white label” and brand all their services to match yours. You’ll be able to differentiate your business while changing your client’s perception of your firm’s abilities.” —Eric Silverman, Silverman Benefits Group

9. “Many benefits brokers have developed a bad habit of giving away things for free or getting outside their lane. You’ll see more of us peeling back out to one or two key individuals who have a thirst for learning and can develop a very robust fee-for-service strategy.” —Bret Brummitt, A.G. Insurance

10. “Provide benefits advice that is culturally aligned and mission-minded to support the culture and mission of your clients.” —Kevin Davis, Univest Insurance, Inc