A few days ago I read an article in the newspaper that said that many people are dropping their insurance because of the recession. They can’t afford the premiums. Or they think they can’t afford the premiums.

I posted a message on Twitter letting people know that this could be a great publicity opportunity for people selling insurance. One of the people following me on Twitter asked how that can be.

I’ll explain.

When times get tough, people often panic. They pull up the draw bridges of their lives, batten down the hatches and wait out the storm they know is coming. Well, a storm may actually come, but often it’s a whole lot milder than they expected.

In the meantime, they’ve made some very bad decisions.

If I were in insurance sales right now (which I’m not), I’d be sending out press releases like crazy, both on and offline.

I’d be giving people options to canceling their insurance. For example, I’d remind them that they can save money by increasing their deductible while still having insurance.

I’d send another release reminding people that they can drop certain portions of their insurance, such as comprehensive on their car insurance, save money and, once again, still stay insured.

I’d send out still another press release talking about life insurance. I’d remind people that they can get term life insurance for far less than whole life. Save money, be insured.

I’d send out another press release reminding people to look into borrowing against their whole life insurance instead of cashing it in.

I’d send out another press release talking about duplication of coverage. For example I’d have people look at their car insurance to see if they’re paying for towing. If they have both towing and Triple A membership, they’re probably wasting money. I’d go into other areas of insurance where there can be duplication.

Now, an important discalimer. I don’t know the first thing about insurance, aside from what I need in my own life. So don’t take any of the previous comments as advise. They were meant to be examples of how you can turn what appears to be bad news into good publicity for you.

Take a look at the business you’re in. Are people in your field in a panic because of the economy? Do you know solutions to their panic? Do you know ways they can save money and still have a thriving business?

If so, you have almost guranteed publicity.

Get the idea on how to turn bad news into good publicity?

I’ve said it many times already. I’ll say it again. While the vast majority of people are in a panic right now, the smart people, the brave people, the people who aren’t cowering in fear are going to do very, very well. Many of them will become wealthier than they ever have before. I plan on being in the second group.

How about you?

Or are you in the corner right now shaking, afraid of what’s going to happen next?

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  1. Mike Bailey Says:

    Hey Paul, great advice as always.
    I am in marketing and a lot of businesses are saying no to spending any money on marketing, I dont think theyll pull through without it, but what do i know!

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