Over the past few weeks, we’ve broken down social media and how it can be used successfully within the insurance industry.
In case you missed it, here’s a recap: In part one, we learned about the value of social media for insurance agencies. Then, in part two, we touched on how to harness the true power of social media through the use of targeted social ads.
Now that we know the power of very targeted social advertising, let’s round out this three-part series by discussing how social ads can be used as a lead generation tool.
Yes, you heard that right. In addition to traditional relationship building and referrals, insurance agencies (and carriers) can generate leads through the use of social media ads. And, we’re going to tell you how.
Scratch that… we’re going to SHOW you how!
Social media lead generation in action
Millers Mutual is a regional property and casualty insurer located in Harrisburg. They serve commercial policyholders through a network of independent insurance agents.
A few months ago, Millers Mutual began offering their insurance products in Ohio, and were looking to add new Ohio-based agents to their network. So, we worked with them to run a social media campaign that would help them to meet their goal.
Here’s a look at how the Millers Mutual lead generation campaign worked.
The lead magnet
There is one element that sets a lead generation social campaign apart from a traditional targeted social ad campaign—the lead magnet.
A lead magnet provides an incentive for members of your targeted audience who are willing to provide you with their email address or contact information. It can be an infographic, a webinar, a white paper, etc. But, for the greatest results, a lead magnet should be something relevant to the audience you are trying to reach.
In the case of Millers Mutual, it was a PDF version of an article that one of their employees had recently written.
The targeted ad
The Millers Mutual ad ran on LinkedIn in March 2017 with a total budget of $200. The ad targeted an audience that included insurance specialists and insurance agents in Virginia. Here’s a look at the ad:
As you can see, the ad utilized a lead magnet to drive traffic to a landing page. Here’s a look at the landing page:
The landing page provided information about Millers Mutual, as well as a form that could be completed to download the lead magnet.
Once the form was completed and submitted, it triggered a series of automated emails over the course of three weeks—the first of which provided them with their copy of the lead magnet.
The lead generation campaign results
During the month of March, the ad saw 9,156 unique impressions within the targeted audience, and 20 of these individuals clicked through to the landing page.
Of the 20 individuals who visited the site, 4 of them completed the email lead form to obtain the downloadable article. That’s a conversion rate of 20 percent!
The final takeaways
Let’s revisit that newspaper ad that we mentioned a few weeks ago. Say your agency ran a single advertisement in the local paper for $200 (that’s the same budget as the targeted social media ad that we mentioned above).
Could you produce exact metrics regarding the number of unique individuals that saw your advertisement in the paper? How about the number of new leads you collected based only on the ad? Chances are, your answer is no.
But, with social media, the answer is YES.
Social media is a powerful and low-cost tool that can be utilized to reach large amounts of people within your agency’s very specific targeted audience. Not to mention, it produces measurable results to prove its impact.
The past few weeks have been a good summary, but we’ve only scratched the surface. In the coming weeks, we’ll be announcing some new ways for our ActiveAgency Launch Partners to harness the power of social media to drive traffic and collect email leads. More on that to come, so stay tuned!
In the meantime, if you are interested in learning more about the power of social media for your business, we encourage you to reach out!