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Insurance Marketing: 3 Reasons to Embrace Social Media

Posted by Kevin Grauel on Thu, Apr 12, 2018 @ 11:04 AM

insurance-marketingIn the wake of the Facebook data scandal, CEO Mark Zuckerberg has been peppered with questions about how Facebook works, how it makes money, and what happens to user data. While the answers to those questions may still be unclear, there is no question that Facebook and social media have changed the way advisors do business.

Advisors attest to the success they’ve seen from social media efforts. In fact, 86 percent of those responding to the annual Putnam Social Advisor Survey, believe social media helped attract new clients. Below, you’ll discover several ways you can use social media to enhance your insurance marketing efforts.

#1: Affordable, conversational engagement

Social media (SM) added a conversational tone to marketing messages replacing the “blasting” tone of direct mail. The conversational nature of SM promotes a two-way dialogue and often invites others to chime in. Many marketing strategies call for a drip strategy, sending messages frequently. SM platforms offer both frequency and affordability while reducing the time and labor required to create, refine, and distribute the marketing message.

#2: Simplified networking

This may be where social media platforms shine, especially LinkedIn. Many advisors find networking via SM much more effective than traditional networking, reporting a shortened lead-time developing prospects into clients. LinkedIn is the preferred choice for 73 percent of advisors for networking and prospecting. The use of social media is a two-way street; while the advisor uses SM platforms to prospect, those prospects use SM to vet the advisor often before and after initial meetings. For a refresher on using LinkedIn for prospecting, read 5 LinkedIn Tips to Improve Insurance Prospecting.

#3: Easy client nurturing

A robust social media strategy can contribute to improved efficiency and effectiveness. 50 percent of survey respondents believe SM has improved client relationships. Many use the platform to communicate directly with the client. Realizing the impact of direct messaging, LinkedIn recently launched an instant message feature available on any LinkedIn page eliminating the need to navigate to the home page to send a message. Responding to a comment about a posting can be immediate, drawing the contact into a conversation. In-person client meetings are often reduced without sacrificing the personal aspects of the business relationship and arriving at a conclusion or decision is shown to have a shorter cycle.

Keys for success

Advisors most fluent in social media use have been in business six to ten years and are often in their early 40s. Younger advisors are seeing remarkable prospecting success starting the relationship off with more warmth than traditional methods and establishing a mutual connection much earlier. Those who see the best return on a social media strategy typically:

  • Make it a daily habit to spend time on the platforms
  • Make use of the advanced search features of LinkedIn
  • Regularly share content
  • Post original content
  • Comment on postings

On the horizon

You Tube videos are increasingly a part of the social media picture and is expecting to gain ground on the top three, LinkedIn, Facebook, and Twitter. Yelp is also coming on strong, particularly with female advisors who capitalize on the personal referral features of Yelp.

DIS is ready on the You Tube front. For several years now, we have offered videos to educate, inform, and entertain.

Ready to jumpstart your social marketing? Follow all the DIS channels if you haven’t already done so – you’ll find links at the top of our website. Also, check out the many videos on our You Tube channel and this article on how to use videos in marketing. Then call your DIS representative for questions about disability insurance or for suggestions about using our contact to create awareness about the need for disability insurance with your clients.

Topics: insurance marketing, social media