As the promo industry deals with canceled orders and dropping sales during the coronavirus pandemic, it’s a good idea to plan out next moves for clients in industries that are promo mainstays.

Consider insurance. According to ASI Research, 24% of these clients’ marketing budget is spent on promotional products, and more than 70% say price and quality are equally important.

Avery Manko, owner of Wilmington, DE-based The Manko Company, has a well-rounded view of this market. He’s been selling to individual agents for 20 years and spent several years in the industry himself.

“My insurance clientele, the vast majority in property casualty insurance like home and auto, spans from Maine, to Florida, to Hawaii and everywhere in between,” he says. “A lot of distributors do business with everyone, and mostly local. I decided to focus on a niche and expand out.”

In a mini version of the coronavirus pandemic that’s causing mass closures, Manko had a bad experience one year due to forces beyond his control. His distributorship used to be based in State College, PA, and the 1993 winter season was one of the worst he could remember. For much of it, he and his local clients were closed. “It was horrible,” he says. “It almost put me out of business. I decided to sell to companies beyond just my local area.”

Manko says there are always opportunities to sell promotional giveaways for insurance agents’ offices and events. Though offices are now closed to visitors and events have been postponed, he anticipates the demand will build back up later this year as preventative health measures are lifted. The companies, he says, are “run by smart people who like to make money. When it’s bad, they make money. When it’s good, they make more money. This trickles down to the individual agents too.”

In the immediate aftermath of widespread business closures and bans on gatherings, and with consumer spending habits changing in the wake of job losses, the industry is certainly seeing some slow-down in business across the board. Ken Wittenberg, chief sales officer of Top 40 distributor Summit Group (asi/339116), has extensive experience with financial clients, including insurance. He says at the moment, like the vast majority of businesses, insurance companies and agents are being very cautious with their money.

“Most events, meetings and tradeshows have been canceled because of travel prohibitions,” he says. “Clients are cutting their budgets right now as the insurance companies analyze market conditions, get a handle on what the coronavirus impact is going to be and determine where best to make investments in marketing moving forward.”

But you can be sure they’ll come calling again once the dust settles. Fortunately, some insurance companies give their individual agents more leeway to buy promo products as they see fit for their needs, so there’s less red tape when it comes to getting sales on the books. Think useful giveaways, like tech accessories, bags and coloring books for kids (and adult versions for their parents). Drinkware and convenient auto kits are a good idea for new car insurance policyholders. Even small items like pens and stress relievers with assuring messages are appreciated.

And don’t forget gift and incentive items from company higherups for insurance agents who exceed production and retention goals, and for low claims numbers among their policyholders.

While Manko expects to see sales numbers go down over the next several weeks as agents preserve budgets and determine their next moves, he’s optimistic it won’t take too long for the market to pick back up again.

“Insurance has been around for at least 500 years,” he says. “It’s weathered huge events, like depressions and wars. It’s a long-lasting industry.”