After more than two decades in the insurance industry, Chad Babcock has learned a thing or two about how to be successful for the long haul.
And while Babcock, a State Farm insurance agent who opened his own branch in Excelsior in 2006, has seen many changes in the business world over the years, one thing remains the same, especially when you’re just starting out.
“You have to make a name for yourself as soon as you possibly can,” Babcock said. “That’s where it all begins.”
Oftentimes, people assume that in order to “get their names out there,” they’ll have to spend a lot of money on marketing and advertising. However, Babcock noted, most new business owners don’t have a ton of capital right off the bat and though a lack of funds can be a challenge, it can also present an opportunity to get creative with how you publicize yourself.
If you’re just beginning your professional journey and you’re looking for ways to let people know you’re out there, here are some of Babcock’s tried and true strategies:
- Get involved and give back
- Whether it’s at your child’s school, with your church or through a charitable organization, volunteering can be a great way to build connections with other people while showing them that you support and value your community. After all, people want to do business with people they can see and relate to, not faceless corporations and when you give of your time, the paybacks can be huge. As you get further into your business and you’re earning a steady income, consider sponsoring a local team, charity gala or sporting event. It’s another great way to build up positive name association.
- Don’t forget about old-school advertising
- Using social media is great and can get you exposure to a wide audience for little to no cost. “If I were starting out today and I was savvy at it, I’d be doing videos and posts all day every day,” he said. That said, there’s also plenty of value in more traditional marketing strategies. For example, Babcock is a fan of static advertising, especially on bus benches. For about $50 a month, he gets his name and face in front of countless vehicles and pedestrians who pass by one of his benches and over time, his name becomes ingrained in their memories. “They’ll say ‘hey, you’re the bus bench guy,’” Babcock said with a laugh.
- Tap into areas where you’re already connected
- Babcock has been playing pickup basketball for more than 10 years and is also part of a CrossFit gym and a member of a softball league. Over the years, he’s had a number of the people he meets through these activities turn to him for insurance advice because they already know, like and trust him. “I’ve written a ton of business off of simply doing things I like to do,” he said. Additionally, participating in things you enjoy outside of work can help you recharge your batteries. “As a business owner, you have to remember to take care of yourself,” Babcock said. “If you’re spending all your time focusing on work and you’re not taking steps to make yourself happy, your employees and your business are going to suffer.”
- Join networking groups but don’t stop there
- It’s easy enough to show up at a Chamber of Commerce meeting, hand out your business card and leave. Ultimately, that’s not going to get you very far and it’s not going to differentiate you from all the other people in your industry. Instead of doing the bare minimum, go above and beyond by making an effort to attend other events like happy hours and holiday parties where you can get to know people in a less formal setting. Take a leadership role in the group. And provide value to your fellow members. Maybe someone is seeking donations for an upcoming walkathon – be sure to make a contribution. Is your neighbor looking for a referral for, say, a great real estate agent and you have one in your circle? Make a referral and an introduction. “The philosophy of our networking group is ‘givers gain,’” Babcock said. “Basically, the more you give out, whether it’s in donations or with your time, the more you get. Sometimes it’s not immediate. Sometimes it takes weeks, months or years, but eventually it will happen.”
