Social Media Marketing for Insurance Agents (and what to do about it)
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Transcript of Social Media Marketing for Insurance Agents (and what to do about it)
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...and what to do about it
Why is social mediaimportant for yourinsurance agency?
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Jim CulpDirector, BPO
Make Me Social
Kevin McDonaldConfluency Solutions
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What marketing was…
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But now marketing is about…
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Conversations
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Facebook and Twitter visitors spend 1.5X
MORE TIME online than other internet
users
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14% of Twitter users use the stream to
FIND AND SHARE products and
opinions
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25% of customersCONNECT with brands
on Facebook toRECEIVE
DISCOUNTS
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54% - PRICE
39% - LOYALTY REWARD
WHAT WOULD MAKE YOU RECONSIDER SWITCHING YOUR INSURANCE?
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More than 50% of Facebookfans and 67% of Twitter users
are more likely to MAKE A PURCHASE from
the BRANDS THEY FOLLOW
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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
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What is your relationship based on?
Unless you engage in conversation, you will never know.
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Brand is....
The sum of all conversations happening about your agency.
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Flo takes a hit...
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“It’s much harder to sue someone you like.”
Anonymous risk manager’s advice to a physician regarding malpractice lawsuit exposure.
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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.”
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Good vs. Bad Reviews
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5 reasons why social media engagement is crucial
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#1 Engaged brands are winning
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#2 social touches many segments
RetentionLeads via referrals
Search Close rates (brand confidence)
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#3 it’s where your audience lives
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#4 SOCIAL will continue to grow
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#5 consumers expect to engage with you
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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
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Brand is....
The sum of all conversations happening about your agency.
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Major platforms
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Largest user baseLots of activity
Opportunities for advertising
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Business to businessGroups specific to interests
Opportunities for advertising
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Large user baseTweets about deals
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Social in searchGrowth potential
(Reviews)
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Shoppers have more tools than ever to compare prices, purchase online, share information and influence brands
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Enough evidence is in to assert that social media will have a positive impact on sales
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Getting started
Set up Facebook, LinkedIn, G+, TwitterIndividual and Personal AccountsIdentify LinkedIn GroupsDetermine content editorial schedule
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Set Goals
Network growthEngagement likescommentsshares
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Relate goals to traditional results
Retention
Referrals
Account development
Close ratios
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Build a network
ContestsEmail to CustomersInteractAdvertising
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Best Practices
Know your audience
Frequency - don’t become a ghost town
Relevance
Temper the sales pitch
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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
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Make it easy to connect
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Indifinancial.com/google
Indifinancial.com/facebook
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Summary
Set objectives in traditional areasChoose and set up platforms
Post (editorial schedule)Build your network
Measure engagement and network health
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Resources
Guide: Social Media Marketing for Insurance Agents
Recording
Slide set
Marketing Worth Concierge
Social Worth a la carte
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Thanks for joining!
Questions?