Insurance carriers, much like everyone else, are trying to find the best way to leverage social media to attract new customers. As it turns out social media is the perfect tool for attracting tech-savvy youth. These early adopters are truly adept at using all forms of mobile technology and have taken social media as just another part of their digital life.
This is good news for people trying to sell life insurance, health insurance, car insurance or any type of insurance because their audience is online. Sure, traditional buyers are still available via traditional methods, but if they want to reach the youth audience, its online all the way.
Young people are not the only ones online, however. In fact, the fastest growing sector of people using social media is represented by senior citizens. That’s right. Seniors are using social media at an ever growing rate. Usage among the 60+ sector is exploding!
It turns out that young people are also more willing to look for their traditional services (such as life insurance carriers, financial planners, etc.) online. This is good news for people in the industry because it makes their job of finding new clients a little easier. Especially when those clients are looking for them.
So, how do you know who you can reach via social media? Easy. You can reach just about anyone, but especially the very young and those with far more life experience….
Producers historically have been reluctant to ask clients for referrals, but today’s young insurance consumer is more likely to scout out brokers or agents online via websites like Yelp or through Facebook, Mr. Kerzner said. Gen X and Gen Y consumers don’t make buying decisions without consulting others for their opinion. Accordingly, insurers will have to prepare representatives to deal with this new level of interaction.
“Many companies aren’t changing fast enough. I understand compliance and security issues, but if we want to grow, we need to get on this train,” Mr. Kerzner said, citing the fact that YouTube gets 3 billion views a day. “Are you training your reps on social media, and are they learning the importance of being trustworthy, in case someone ever rates them?”
Carriers can also turn web surfing into sales, particularly as customers are researching insurance products online. MetLife Inc., for example, has tapped online researching and turned it into a sales opportunity by giving web surfers an opportunity to communicate with a producer through an instant message or to have a rep call them immediately, Mr. Kerzner added. Better yet, the process can help customers decide how much coverage they need and close the sale quickly.
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