Social media marketers are facing new challenges. According to Digiday, platforms keep changing their algorithms, and the rise of new sites has resulted in a fragmented social media landscape. Nevertheless, social media remains critical in insurance marketing.
HubSpot says 84% of U.S. adults use social media. That’s a huge audience, and many businesses are successful in using it to find leads. According to the 2023 Putnam Social Advisor Survey, 94% of financial advisors use social media for business, and more than half of financial advisors says they’ve succeeded in gaining clients through social media.
Below, you’ll discover several ways you can use social media to enhance your insurance marketing efforts.
#1: Affordable, Conversational Engagement
Social media (SM) added a conversational tone to marketing messages replacing the “blasting” tone of direct mail. The conversational nature of SM promotes a two-way dialogue and often invites others to chime in. Many marketing strategies call for a drip strategy, sending messages frequently. SM platforms offer both frequency and affordability while reducing the time and labor required to create, refine, and distribute the marketing message.
#2: Simplified Networking
Simplified networking may be where social media platforms shine, especially LinkedIn. Putnam says that four out of five financial advisors use LinkedIn as their primary network, and 38% of financial advisors use it exclusively. Although the effectiveness of social media marketing has declined somewhat, many advisors still find networking via SM to be much more effective than traditional networking, with 62% reporting a shortened lead-time developing prospects into clients.
The use of social media is a two-way street; while the advisor uses SM platforms to prospect, those prospects use SM to vet the advisor often before and after initial meetings. For a refresher on using LinkedIn for prospecting, read 5 LinkedIn Tips to Improve Insurance Prospecting.
#3: Easy Client Nurturing
A robust social media strategy can contribute to improved efficiency and effectiveness.
Chatting with clients via direct messaging features on social media can be an especially effective way to stay in touch. However, posts and replies can also be effective. If a client comments on one of your posts, you can respond, sparking a conversation that can also draw in others. As a result, in-person client meetings are often reduced without sacrificing the personal aspects of the business relationship and arriving at a conclusion or decision is shown to have a shorter cycle.
Keys for Success
Putnam found that 62% of financial advisors who gained clients said they had increased their use of social media since the start of the pandemic.
Those who see the best return on a social media strategy typically:
- Make it a daily habit to spend time on the platforms
- Make use of the advanced search features of LinkedIn
- Regularly share content
- Post original content
- Comment on postings
On the Horizon
YouTube videos are increasingly a part of the social media picture. According to HubSpot, YouTube is the most popular social media platform after Facebook, beating out Instagram, TikTok and Twitter/X.
DIS is ready on the YouTube front. For several years now, we have offered videos to educate, inform, and entertain.
Ready to jumpstart your social marketing? Follow all the DIS channels if you haven’t already done so – you’ll find links at the top of our website. Also, check out the many videos on our YouTube channel and this article on how to use videos in marketing. Then call your DIS representative for questions about disability insurance or for suggestions about using our contact to create awareness about the need for disability insurance with your clients.