The insurance business has been and always will be about building trustworthy relationships with your policyholders. But just because the end goal of insurance hasn’t changed doesn’t mean your marketing strategies shouldn’t change either. Now that 2017 is in full swing, it’s a great time to analyze your current marketing strategies from the last year. What worked? What didn’t? If you’re ready to revamp how you market yourself as an agent, here are five ideas to take with you into the New Year.
1. Update your database
No matter how great your marketing campaign is it’ll fall flat if you’re not reaching the right people. That’s why it’s important to clean up your database every now and then. Your database is essentially the epicenter that houses your clients’ (current, prospective and past) email information. But because some clients come and go, it’s important to keep your database updated.
Not only does inaccurate data hinder you from reaching the right people, but it also wastes your time, effort and money. More so, sending emails to the wrong people increases bounce rates, spam reports and unsubscribes. Too many spam reports and unsubscribes can result in your email service provider suspending your account.
2. Connect with millennials via social media
A 2015 study found that 70 percent of insurance agents use social media as a prime tool for attracting leads from millennials. But in contrast, only 30 percent of insurance agents actually use social media to engage with and generate referrals from millennials via social media. Additionally, this study found that more than 92 millennials turned to friends and family via social media for insurance referrals.
So where is the disconnect? Ultimately, studies show that millennials interact with businesses via social media differently than other generations. Whereas lots of business owners and insurance agents view their social media platforms as a sounding board, millennials prefer to interact with business and develop more authentic connections. With the millennial generation aging and buying homes, if you’re not targeting this demographic, you’re going to miss out. If you’re not already connecting with millennials via social media, now is the time to create a strategy. Not sure where to start? Check out these resources:
3. Don’t overlook online reviews
Do you know how many people ask friends and family for referrals when looking to buy insurance? More than 79 percent! Additionally, the average agent receives more than 50 percent of new clients from referrals. With statistics like that, it’s hard to understand why 70 percent of insurance agents rank online review websites as one of the least effective sources for lead generation. If you aren’t paying attention to your online reviews — do it. While it can be challenging to read not-so-positive reviews, every review (whether good or bad) is a chance to zoom out and evaluate your strengths and weaknesses.
4. Go mobile friendly
If you haven’t already made your website mobile friendly, you’re doing yourself a huge disservice. Today, more than 66 percent of emails are opened on a mobile device, Facebook sees 844 million mobile users every day and 60 percent of online traffic is generated from various mobile devices. It’s clear to see that if your website isn’t mobile friendly, you’re missing out on an extremely large demographic. Fortunately, making your website mobile friendly is relatively easy. Now, lots of hosting sites implement mobile compatibility automatically so you don’t have to be a coding wiz to go mobile.
5. Start a referrals rewards program
Referral rewards programs show your customers that you care, which encourages them to recommend you and your agency to others. But if you don’t have a referral rewards program in place, it can be challenging to know where to start. Read our blog on Tips for Creating a Referral Rewards Program for Your Insurance Agency to help you get your referrals rewards program up and running.
Learn More About ASI
ASI is one of the largest homeowners insurance carriers in the United States. Through a network of independent agents, the company offers home, condo, renters, dwelling fire and flood insurance. Find out more at AmericanStrategic.com.