Does Social Media Marketing Work for Insurance Agents?
We’ve all seen how social media has helped propel the business of almost every industry over the last 10 years. Unfortunately, most independent insurance agents have since not taken every advantage of the social media platforms that exist, in order to reach new audiences. It’s in your best interest as an agent to start a social media marketing strategy now, before the online market becomes too saturated with other agents.
Insurance Agents and Social Media Marketing
As most people on planet earth have a social media profile(s) on at least one
platform, businesses have jumped on the social media bandwagon to connect with
their customers online. Insurance agents need to be where their customers are,
which is – yes, on social media. Depending on what insurance products you sell, it
would be beneficial for you to connect with your audience on at least one social
media platform. Determining which platform(s) to use is greatly determined by the
demographics of your target audience.
For example, (from Pew research and Statista)
- YouTube used by 70% of people age 50-64 and 38% of people age 65+
- Facebook used by 68% of people age 50-64 and 46% of people age 65+
- Pinterest used by 27% of people age 50-64 and 15% of people age 65+
- LinkedIn used by 15.4% of people aged 35-54 and 2.9% of people age 55+
- Instagram used by 24% of people age 50-64 and 8% of people age 65+
- TikTok used by 12.5% of people age 35-54 and roughly 3% of people 55+
So if you’re an agent that sells Medicare products, you probably wouldn’t choose to put all of your marketing efforts into platforms like Pinterest or Instagram. Millennials, Gen X and (some) Baby Boomers might be the largest demographics on Facebook, but the fastest growing audience is that of seniors 65+.
It is however important to note that as an insurance agent, you should have a presence on many platforms in order to connect with different audiences. Depending on the product lines you sell, you might use various platforms to reach various audiences. It will simply depend on your strategy and who you are trying to market your products and services to.
Why Insurance Agents Should be Marketing on Social Media
Social Media is a FREE Marketing Tool
Having a social media account is free, so why not take advantage? Having a social media presence on a number of platforms will allow agents to connect with potential leads without having to pay a penny. If done correctly, you’ll never have to spend a penny on ads in order to generate leads. It’s important to note that whatever doesn’t cost you money, will cost you your time. You will have to spend the time to post relevant, valuable content to your pages; while also networking to meet new people.
But for most businesses starting out, spending the time to market yourself for free is well worth the cost.
Having a presence on social media is just as important as having a website in today’s world of business. If you’re not utilizing the technology that is available to businesses today, you’ll find yourself missing out on business you could have obtained. 90% of Americans start off any purchase with an internet search, so why not make yourself more visible to people who are looking for someone to help fulfill their needs?
The events of 2020 resulted in numerous seniors flooding to the internet and social media, trying to connect with friends and family they could not socialize with in person. More and more seniors own smartphones, are becoming more active online with entering the world of social media. It’s important for agents to insert themselves into a seemingly already very saturated space, and compete for their audience’s attention. Therefore, having a solid social media marketing strategy will be what separates you from the rest.
“A goal without a plan is just a wish.” – Antoine de Saint-Exupéry
Social media is also a great way to keep in touch with clients, and answer questions, comments, and concerns. Having great online customer service skills will impact your business in a positive way. Being available to your customer is imperative, especially on more pressing matters.
Here are some customer service steps you must take when using social media marketing;
- Promptly answer messages
- Don’t keep customers waiting on a response to a question. Keep your notifications turned on and check your apps’ messages daily.
- Reply to comments
- When people engage with your content, make sure to reply! Whether someone just left a general comment or asks a question, reply to it. It increases engagement, which will also increase reach and impressions.
- Manners matter!
- It might go without saying; but remember that everything you
say and post on the internet, is viewable by everyone. You must maintain a “manager” mindset and stay professional when engaging with negative comments or people, just like you would in person.
- Being factual
- Always share factual information online. Social media is full of information; not all of which is factual. Maintain a personal brand of being trustworthy and knowledgeable by making sure to fact-check before posting.
Social Media Marketing Works For Insurance Agents!
Social media marketing does work, especially for insurance agents. But just remember that growth and results do not happen overnight. The process is slow, and you might not see the results you want until you’ve built up an online community. (Just like building your books, it takes time!) The results can be worth the time and effort, so long as you continue to strategize, and re-strategize to grow alongside your audience.
Are You an Agent & Need Help with Social Media Marketing?
Insurance Advisors Direct is Southeast Michigan’s premier FMO, as we are constantly improving and growing our offerings for agents. Our latest offering is a digital marketing and social media marketing service! This service is a separate branch of our brand, called Marketing Advisors Direct or M.A.D. Our team of graphic design, web design and SEO, and social media experts are here to help you take your business to the next level online! At Marketing Advisors Direct, we’re MAD about marketing!
Contact our Marketing team to learn more!