In the world of commercial insurance, specialization is the key to success. The most successful agents are those who become the indispensable experts for a specific industry. One of the most lucrative and most challenging of these niches is the car dealership market. A dealership is a complex, valuable and risky business that requires a deeply specialized approach to insurance.
To connect with a busy and skeptical dealership owner, a generic “business insurance” sales pitch is a non-starter. You must approach them as a fellow specialist, an expert who speaks their language and understands their unique world. This means that you have in-depth and detailed knowledge of the specific coverages included in a comprehensive package dealer insurance policy. Your marketing should not be about selling a product; it’s about showing that you are a true risk management partner.
Here’s a guide to developing a marketing strategy that resonates with car dealers.
Focus on their biggest risks
A dealer president doesn’t think about the nuances of his commercial real estate form. They think about the real-world risks that keep them awake at night. Your marketing content and your conversations should directly address these specific pain points.
A dealership’s inventory is its largest asset and is fully exposed to risks such as hail, theft and fire. Your marketing should highlight your expertise in “dealers open lot” coverage.
From a customer slipping in the service area to a serious accident during a test drive: a dealership is a hotbed of liability risks. You must demonstrate that you have an in-depth understanding of “garage liability” versus “garage owner” coverage.
A dealer’s F&I office is a treasure trove of sensitive customer financial data, making it a prime target for cybercriminals.
Become a trusted educational resource
The best way to gain a dealer’s trust is to generously share your expertise. Your agency blog and LinkedIn profile should become a reference source for risk management advice specifically tailored to the automotive industry.
Instead of general insurance articles, you can create content that helps a dealer run a safer and more profitable business.
- “A guide for dealers to prevent damage to lots during a hailstorm”
- “Cybersecurity Best Practices for Your F&I Office”
- “Understanding the difference between garage liability and garage owner coverage”
This positions you as an expert who is interested in helping their business, not just selling a policy.
Build a referral network with other “dealer suppliers”
The most powerful introduction is a warm referral from another trusted professional. One of the most effective long-term marketing strategies is building a referral network with other, non-competing B2B professionals who also serve the dealer market.
Identify and build relationships with accountants who specialize in the automotive industry, commercial bankers who provide floor plan financing, and marketing agency representatives who work with dealers.
Take these professionals out to lunch. Learn more about their company. If you can give them a valuable referral, they will be happy to do the same for you. A strong referral network is a powerful driver of B2B growth.
Get involved in the dealer community
The car dealer community is close-knit. The owners and general managers of the various dealerships in a state all know each other, and they talk. The best way to build your reputation in this community is to be an active and visible participant in it.
Join your state’s dealer association as an associate member. Go to their meetings, attend their conferences and consider sponsoring an event. Here you will have the invaluable opportunity to build genuine, personal relationships with key decision makers in your target market in a relaxed, collegial environment.
Marketing insurance to car dealers is a long game won on specialization and trust. By demonstrating a deep and genuine understanding of a dealer’s unique risks and positioning yourself as a true risk management partner, you can build a successful and profitable practice in this lucrative niche.
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