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Does social maedia work for insurance agencies?

There’s no doubt about it, social media is a powerful tool. But when we think of social media, most of us think of large, well-known companies like Wendy’s and Old Spice (just to name a few).

We know it works for the big players, but we’re left with the question:

Does social media REALLY work for insurance agencies?

In short: YES! – but it depends upon how you use it.

Over the course of the next few weeks, I’ll break it down into three easy-to-follow segments:

  • Why social media is so attractive
  • The power of targeted social ads
  • Social media as a lead generation tool

So, without further ado, let’s kick it off…

Why social media works for insurance agencies

The answer to this question is really quite simple, and can be broken down into three parts: social media has numbers, the price is right and the results are measurable.

Social media has numbers

…a whole lot of numbers.

Take Facebook for example: The social media goliath has nearly 1.2 billion people actively using the platform on a daily basis, and nearly 1.8 billion people using it on a monthly basis.

Now let’s look at LinkedIn. The professional social networking platform boasts over 467 million members worldwide, with over two new members joining each second.

Gone are the days of utilizing social platforms to share baby photos and favorite recipes. Millions of users are now flocking to social media to leave reviews for their favorite restaurants and businesses, to solicit recommendations from friends and colleagues, to find new jobs, to announce the opening of new small businesses and much more.

So, yes, the people you want to reach are on social media.

The price is right

As Johnny Olson of The Price is Right always said: “Come on down!

Of course, Johnny wasn’t referring to the world of social media. But, the idea still applies.

Companies can harness the true power of social media platforms like Facebook and LinkedIn through targeted social media advertising (teaser alert: more on targeted social ads next week) for just a fraction of the cost of traditional marketing tactics.

That means that insurance agencies can dip their toes in the world of social media marketing without having to drop thousands of dollars. Cha-ching!

The results are measurable

Think about the last few marketing tactics that your agency has tried out. Has your agency recently taken out an ad in the local newspaper? If so, do you know how many people have visited your agency’s website as a direct result of seeing that ad? You could probably make a guess, but chances are you can’t produce accurate data for the effectiveness of your newspaper ad.

With targeted social ads, agencies can take the guesswork out of analyzing effectiveness. That’s because, unlike many traditional marketing tactics (like newspaper ads), extremely accurate social media data can be very easily collected and analyzed to determine effectiveness using free, integrated tools like Facebook Insights and LinkedIn Company Page Analytics.

These tools allow you to see exactly how many people your ad has reached, how frequently users engaged with your content, how many people visited your agency website as a result of seeing your ads and much more!

The lowdown

Social media is a powerful tool—yes, even in the insurance industry. It helps insurance agencies (and carriers, too, by the way) reach large audiences (we’re talking millions of active social media users) without investing a lot of dough. And, to top it all off, agencies can analyze the value and effectiveness of their efforts with the help of accurate analytics and insights.

Are you intrigued? Good. We’ve only just scratched the surface. Next week, I’ll be bringing you more information about targeted social media advertising. This is where the true power of social media is realized. Stay tuned!

Want to talk more about social media strategy in the meantime? We’d love to chat!