Social media is the prime mode of communication today. You can spend all day without leaving your couch and still manage to network with people from across the world. Social media is crucial for business because it provides companies a chance to connect and interact with millions of strangers who might be interested in their products or services. The insurance industry has always been slow in adopting new trends and technologies, but it slowly recognizes the potential value of social media.
As per a study by Forbes, fifty-five percent of businesses claim that they have generated leads through their respective social media channels. Insurance
agencies can adopt these same social media techniques and use them to their advantage.
Selling Insurance on Social Media: The Basics
Why should insurance agencies sell insurance through Facebook or Twitter? Or, for that matter, any other form of social media? First, social media provides you with the opportunity to reach out to many people. Right from the moment you post a picture of your products on Instagram to when you upload a video on YouTube – every social media platform provides a way to reach people. Second, social media is extremely cheap compared to other forms of advertisement – including radio and television. Third, social media platforms have a much lower barrier to entry than traditional mediums of marketing.
Every insurance agency should have a social media presence – whether a Facebook or a Twitter page, a YouTube channel or a Google plus account. The question is: how do you promote your products and increase sales through these channels? Here are some tips that might help:
Tip #1: Connect with your customers
Social media is all about connecting and interacting with people, so try to spend some time discussing what other customers have to say about the company or its products. This will help generate sales and create brand loyalty among your consumers. Remember to check on negative feedback as well – you will find that most people are just looking for attention. If you cannot provide a satisfactory answer to the problem, then simply thank the person who reported it and delete his post from your page.
Tip #2: Solve Problems
Not everyone who buys your product is going to be satisfied – and that’s a good thing. People who have been dissatisfied with your services can go online and voice their opinions – something they would not do otherwise. Wouldn’t it be beneficial if you could address these complaints before they reach a critical mass? Make sure you always have a support ticket system in place so that customers can communicate their problems to you immediately. This way, you can solve the problem before affecting your brand image.
Tip #3: Capitalize on popular events or memes
Every day, there’s a new event or meme that makes its way through social media, and people share their opinions about it. If you’re selling an insurance product that deals with a particular disaster, you should try and take advantage of these trending topics. One such example can be the movie “San Andreas,” which featured a massive earthquake in California. If you’re selling earthquake insurance, this would be an excellent opportunity to create some buzz about your company or its products.
Tip #4: Post Stories About Saving Clients Big Money
Just as having a good reputation is important for any insurance agency, the fact that you helped your client save some money is going to be beneficial as well. Get in touch with customers who have been satisfied with your products and services and ask them if they wouldn’t mind sharing their stories on social media. It’s an excellent way of promoting yourself – and you might even get some new customers who are looking for help.
Tip #5: Announce New Products
People love finding out about new products before anyone else – that’s why you should make it a point to announce your upcoming products as early as possible. To take advantage of this, try and create some buzz around the launch of your product months ahead of time. An excellent way to do this is by getting in touch with insurance agencies with a huge customer base and asking if they would be interested in promoting your product for a small commission. This way, you get to sell the product without spending anything extra.
Tip #6: Share Testimonials
Testimonials are platinum. Whether it’s a video you record on your iPhone, an email you copy and paste (with permission) into a status update, or an online review you take a screenshot of and post to Facebook, testimonials are gold.
If you have any way to mention or tag the individual who gave you a testimonial, so it appears on their Facebook page to their friends, do it.
If it’s flattering, post it on your personal Facebook page as well. Then, when you share other people’s opinions about you, it doesn’t come across as phony.
Tip #7: Announce New Discounts
Do you know what the best advertising is? People are talking about your company. Do you know how they talk about you? When you save them some money! Announce new discounts on Facebook with a call to action, so your existing customers spread the word for free.
A new discount is an excellent way to get people to purchase your product. Don’t just leave it as a surprise, though – announce it ahead of time so that people have enough time to plan accordingly. Post it on social media with the appropriate hashtags so that other agencies can share it as well. Not only will this help you sell more products, but also build more relationships with other companies.
Tip #8: Turn Your Staff Into Real People Too
Ensure your employees take part in social media as well. Why? The more relatable and approachable you appear to be, the greater the impact! People like feeling like they’re dealing with people – not robots or advertisements.
Your staff should have their profiles so that customers can interact with them directly. This way, even if people don’t buy your product, you can always ask for feedback or referrals.
Tip #9: Post News About Growth
Another reason people appreciate a company is when it’s visibly growing. If you can show how successful your business is, there’s a good chance people will trust you more and purchase from you as well.
Post news about growth or expansion on social media, emphasizing showing off your team – the faces behind the brand. People need to know that your company is successful because of hard work and dedication, not just a fluke.
Tip #10: Offer Policy Reviews
Reviewing options is what you’re supposed to do with any customer who has bought a product from you – whether that’s auto, health, or life insurance.
Sometimes, people just need to have this pointed out to them. Make sure you’re offering policy reviews on all of your social media platforms so that even new customers can learn something too.
Whenever you post a review, make sure it’s from an unbiased source. Nobody wants to learn about insurance from the company itself!
In Conclusion
There may be many marketing strategies out there, but these ten tips will take your insurance agency business to the next level. Not only can you sell more products and services, but you’ll also create connections with other agencies as well as build up your brand equity. And those are both things that nobody wants to pass up!
Don’t forget that social media is a dynamic platform – it’s constantly changing. Therefore, you need to be on your toes at all times and understand how people interact with one another online. Try not to let a good opportunity go waste!
