TECH-ENABLED NATIONWIDE INSURANCE AGENCY JUMPS DIRECT SALES 47x
A portfolio company of a niche tech fund, this insurance agency had founding partners with experience in telesales. With licensing nationwide and a strong product knowledge base, their agents were effective at working leads from mailers and referrals. The problem? Ownership was beholden to third-party marketing firms and lead generation companies whose pricing varied greatly. Without their own marketing assets, the company was essentially a sales shop no inherent value outside its book of policies. The fund that owned the business desired to create more enterprise value.
Ownership entered 2016 with a renewed budget and focus on building internal marketing assets that the company could control. The expectation was to get in the “driver’s seat” on marketing strategies and costs, and to create a more attractive portfolio company for potential sale down the line.
- Hire a local marketing agency.
- Acquire an existing lead generation shop.
- Recruit new talent to build the assets in-house.
- Ink a deal with Growth Partner to become the marketing arm of the business and run the process.
Growth Partner’s team helped launch online lead generation for this nationwide insurance agency. We also helped design and build a custom CRM software that integrated with insurance carriers to help optimize issuing policies to customers. Our campaigns created over new 20,000 inbound leads for this company’s call center in 2016 alone.
Gross sales from the new, company-owned marketing assets reached over $2 million in the first year. This represented a 47x increase in direct sales from their own marketing over the year prior. The company estimates that over $5 million in enterprise value has been created to date, with growth continuing into 2017 and beyond.