Few events create the need for a coordinated marketing effort than an agency acquisition.

Aside from all the issues of carrier appointments, vendor contracts, HR issues, and physical location issues, communicating the acquisition to your current and acquired clients is critical.

The name of the game in acquisitions is retention. If you lose the client base you’ve acquired, the acquisition can cause more harm than good, even if you structured the deal with retention payouts. The time and effort spent in the agency acquisiiton are sunk costs.

Ideally, prior to the acquisition you would have made sure the insurance agency you are acquiring has a current, up-to-date email list of all of their clients. Being able to communicate electronically with your new clients will significantly reduce your costs and greatly improve your retention, as well as lessen the workload on your CSRs who will be working with these new clients.

Assuming you have an accurate list, communicating your mission, company philosophy and brand to your new clients is crucial. Delivering a consistent, reassuring message will lessen the inherent confusion surrounding a pending acquisition.

Once the deal is done, there will be a lot of additional tasks. Making sure your new clients know how to contact staff (new email addresses), coordinating websites and/or forwarding the acquired agency’s website and email to your domain names. Rebranding the new location with signage, business cards, and an internal decor consistent with your company’s look and feel.

Additionally, you will want to be active in the community, making sure everyone is aware of the acquisition and the messaging you want to impart.

These are just some of the major issues. There will also be a number of minor details that will need to be addressed. These changes put a lot of work and stress on your existing staff. Having an outside resource to organize and manage this process will help things go much more smoothly and ultimately, improve your retention.

About AgencyEvolved

AgencyEvolved is an outsourced marketing firm, dedicated to insurance agents and brokers. Founded by two insurance industry veterans, our mission is to help insurance agencies evolve by creating long-term growth and value through strategic marketing.

Smart Marketing. Done Right. By People Who Know Insurance.