social media marketing for insurance agents (and what to do about it)

...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?