social media marketing for insurance agents (and what to do about it)
DESCRIPTION
Insurance agents need to include social media in the marketing mix but platforms and social marketing campaigns need to be related to traditional objectives in the area of customer development, referrals, and new business from other sources.TRANSCRIPT
...and what to do about it
Why is social mediaimportant for yourinsurance agency?
Jim CulpDirector, BPO
Make Me Social
Kevin McDonaldConfluency Solutions
What marketing was…
But now marketing is about…
Conversations
Facebook and Twitter visitors spend 1.5X
MORE TIME online than other internet
users
14% of Twitter users use the stream to
FIND AND SHARE products and
opinions
25% of customersCONNECT with brands
on Facebook toRECEIVE
DISCOUNTS
54% - PRICE
39% - LOYALTY REWARD
WHAT WOULD MAKE YOU RECONSIDER SWITCHING YOUR INSURANCE?
More than 50% of Facebookfans and 67% of Twitter users
are more likely to MAKE A PURCHASE from
the BRANDS THEY FOLLOW
Insurance Facebook friend facts
About 4,000 insurance agencies have Facebook links or buttons on their website
The average number of agency Facebook fans is about 100
Classic car insurance specialist Hagerty has almost 42,000 likes; Heacock Classic has over 45,000
What is your relationship based on?
Unless you engage in conversation, you will never know.
Brand is....
The sum of all conversations happening about your agency.
Flo takes a hit...
“It’s much harder to sue someone you like.”
Anonymous risk manager’s advice to a physician regarding malpractice lawsuit exposure.
Seth Godin’s advice
“If Progressive is proud of their tactics, they should say so. ‘We fight against claims to keep our costs low, saving you money.’ But if they're not proud, they should tell the truth, learn from it and apologize.”
Good vs. Bad Reviews
5 reasons why social media engagement is crucial
#1 Engaged brands are winning
#2 social touches many segments
RetentionLeads via referrals
Search Close rates (brand confidence)
#3 it’s where your audience lives
#4 SOCIAL will continue to grow
#5 consumers expect to engage with you
Where do young consumers start?
“They are far more influenced by their friends and family when it comes to buying insurance than by professional sales people.”
source: Voice Of The Personal Lines Insurance Consumer Surveys, Deloitte Research, June/July 2011
Brand is....
The sum of all conversations happening about your agency.
Major platforms
Largest user baseLots of activity
Opportunities for advertising
Business to businessGroups specific to interests
Opportunities for advertising
Large user baseTweets about deals
Social in searchGrowth potential
(Reviews)
Shoppers have more tools than ever to compare prices, purchase online, share information and influence brands
Enough evidence is in to assert that social media will have a positive impact on sales
Getting started
Set up Facebook, LinkedIn, G+, TwitterIndividual and Personal AccountsIdentify LinkedIn GroupsDetermine content editorial schedule
Set Goals
Network growthEngagement likescommentsshares
Relate goals to traditional results
Retention
Referrals
Account development
Close ratios
Build a network
ContestsEmail to CustomersInteractAdvertising
Best Practices
Know your audience
Frequency - don’t become a ghost town
Relevance
Temper the sales pitch
Build Trust
“Trust was a big factor for a significant number of respondents, with four out of 10 auto and homeowners (consumers) surveyed indicating they use an agent because they don’t trust insurers to deal with them fairly.”
source: Voice Of The Personal Lines Insurance Consumer Surveys, Deloitte Research, June/July 2011
Make it easy to connect
Indifinancial.com/google
Indifinancial.com/facebook
Summary
Set objectives in traditional areasChoose and set up platforms
Post (editorial schedule)Build your network
Measure engagement and network health
Resources
Guide: Social Media Marketing for Insurance Agents
Recording
Slide set
Marketing Worth Concierge
Social Worth a la carte
Thanks for joining!
Questions?