While coverages such as auto, homeowner’s, life, and health insurance typically come to mind with many business owners and consumers, title insurance probably leaves some scratching their heads.
In the event you own a title insurance business, how exactly have you gone about marketing it over time? If it has been difficult to promote your brand, will 2013 be any different?
First, making sure consumers understand what you do is essential, allowing you to market your services in a more efficient manner. For those who do not know, title insurance in its most basic terms protects a buyer who is purchasing a residence or office space.
With title insurance in hand, the buyer can avoid expensive claims to the property from another individual who has some stake in the property and/or local government operations such as a utility or construction company etc.
The typical forms of title insurance coverage are:
Lender’s Title Insurance – In many portions of the country, a mortgage lender will require a purchaser have in their possession a lender’s title insurance policy to protect the lender’s security interest in the real estate. Lender’s title insurance is dispersed for the amount of the mortgage loan.
Owner’s Title Insurance – With this coverage, the purchaser’s interest is protected, normally distributed for the figure of the acquisition price of the property. Coverage requires the insurer to meet (pay) each and every valid claim for the title as insured.
Get the Title of Best Business Promoter
So, you’ve either recently opened up a title insurance business or perhaps you’ve been around for a while now, yet you need to better promote what you do.
Among the best ways to go about this:
- Advertising – Although you may be on a restricted budget, advertising is still one of your best friends. In order to hit the right target markets, look to real estate industry publications (periodicals, newsletters, blogs etc), along with real estate pages in your local newspaper;
- Company website – Your own website can and should be a great resource to market title insurance. Use the site to promote educational blog posts on the subject, guest blog posts from real estate agents and lawyers well versed in title insurance, and videos/podcasts. Your website needs to be updated regularly, especially where blog content is concerned. If your content looks outdated and not relevant, your online traffic will be minimal at best. Also take the opportunity if guest blogging on real estate or law blogs to insert a keyword or two in your copy or author bio, thereby driving traffic back to your site when readers click on it;
- Social media – While some business owners either avoid social media or fail to learn how to properly use it, social networking can be quite a boon for your business. If you haven’t already, make sure you start accounts on Facebook, Twitter, LinkedIn, and Pinterest for starters. With your accounts, follow others in the title insurance business, real estate pros, lawyers and more. Make sure you regularly update your social media feeds, along with providing links to relevant stories on title insurance. Lastly, engage those who comment and/or have questions on your pages. One of the many great things about social media is that it essentially only costs you time and effort.
When all is said and done, title insurance may not be the most sexy form of coverage you will either sell or buy, but it is pretty much a necessity for those making such a large purchase in their life.
As one who sells title insurance, make sure you know how to market the coverage, not just offer it.
About the Author
With 23 years’ writing experience, Dave Thomas covers a variety of small business and consumer topics, including how to find the right title service.