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Is Social Media for Insurance Agents Actually Beneficial?

Is Social Media for Insurance Agents Actually Beneficial?

social media for insurance

Have you heard that opening a social media business account is the ‘best thing to do’ for your insurance business? Yeah, you and a hundred other agents we’ve spoken to. Maybe you figured since everyone else is doing it, so you might as well, too. It couldn’t hurt, could it? Actually, it can hurt your business. The truth is social media for insurance agents can be extremely beneficial – when it is done right!

The Downside to Social Media for Insurance Agents

Unfortunately, the days of worrying about your appearance are no longer back in high school. As a business that provides a service to clients, how you appear online can make you seem like the cool kid or the loser. When clients see a lackluster social media account that isn’t regularly updated or doesn’t have relevant content, you will appear uninformed, unapproachable, and irrelevant. Ouch.

The true downside to leveraging social media for insurance clients is that it takes time. If you want to make social media work for you, you’ll have to stay on top of your account(s). This means posting once a day (or a minimum of 3 times a week), updating your photos, and being available to respond to comments and messages. Does that seem like too much? Then do not attempt content marketing as a means to attract clients. It will fall flat. However, there are still great advantages to social media for insurance agents. Let’s discuss those.

The 4 Benefits of Social Media for Insurance Agents

When done correctly, social media marketing can be a cost-effective lead generation tool. According to this research, “Of all businesses engaging in social marketing, 45% report that it has decreased their lead generation costs and 24% of them say that their revenue has increased specifically from using social media for this purpose.”

1) Share Content – Get Seen

There is a plethora of great content out there. When I say content, I mean things like articles, blogs, videos, and infographics. You can subscribe to newsletters, sign up for Google alerts, and follow other people on social media to find this stuff. If you come across content that you think your own clients would find valuable, post it to your social media business account with your own personal spin on it. Not only will they be grateful for the information, but, more importantly, they’ll keep seeing YOU in their social media feeds. Trust me, being reminded that you exist is a good thing.

2) Create Content – Become an Industry Leader

An even better use of social media for insurance leads would be creating your own content for your followers. Perhaps you could comment on current industry trends or changes. Maybe you can try your hand at blogging and write about helpful topics, such as, “Do I Need Medicare If I am Still Working?” Or, how about sharing some quick tips and tricks people need to consider when choosing Medicare plans? Putting out this kind of content positions you as an expert and industry leader. And people want to work with experts.

3) Set Appointments – Make Sales

Of all the social accounts, Facebook is the most versatile of social media for insurance agents. You can list the services you offer, include a bio, include links to your blog subscription, and even set automated appointments. Above all, if you want to hook new clients, you have to make it easy for them to take action. What could be easier than two clicks in an app they’re already using anyway? Furthermore, Facebook will even send automated reminders to your client about their appointment! Why wouldn’t you take advantage of this virtual assistant?

4) Follow Up with Clients – Increase Retention Rate

Lead generation isn’t the only useful aspect of social media for insurance agents; it also helps with client retention. When you aren’t sharing relevant industry content, use social media to engage with your current clients. After appointments, follow up through Facebook or Instagram by reminding them that you’re available to help them any time by just sending you a message. Then, when AEP rolls around, send a message to all your clients reminding them of their options or sharing new plan information. Invite them to a dialogue with you; they’ll be grateful their agent is so accessible and approachable.

10 Ways to Use Social Media for Insurance Agents

You didn’t think we were going to explain the benefits without giving you some tips and tricks, did you?

1. Use blog posts to share content and drive traffic back to your website.
2. Post a fact or story relevant to a particular insurance product and end the post with a question.
3. Give away a free item for every person who requests an insurance quote through your social media account. (per CMS compliance, this must be valued at less than $15).
4. Post information about community events and news.
5. Share testimonials from your current clients.
6. Promote your involvement in the community by sharing pictures.
7. Share ‘quick tips’ about Medicare, or other products.
8. Post interesting statistics relevant to your industry that your clients might find interesting.
9. Share photos of the weather and ask how their day is going.
10. Share curated content (relevant content from others that you share to your page).

Do you still have questions about using social media? If you’re contracted with us, give us a call and we’ll give you free coaching and social media optimization.