Social Media Impact On Insurance Agency Marketing

Posted on

July 15th, 2016

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Insurance Social Media MarketingInsurance agency owners and producers who believe that social media is a nice to have, instead of a need to have, are clearly missing the boat. Some industry experts estimate that Facebook alone is now responsible for over 25% of all web traffic.  And with 40 million active small business pages, Facebook is making significant inroads as the place to be when it comes to reaching small businesses. Facebook offers a robust ad tool to help insurance agencies and brokers reach targeted prospects, including post boosts and Facebook ads. This tool, along with their billion plus users helped Facebook achieve $5 Billion in revenues in Q1. Other notable Facebook stats include:

  • Monthly active users are now at 1.65 billion
  • Daily active users are 1.09 billion
  • 894 million are mobile only users
  • Adding 500,000 new users a day
  • Over two thirds of all US online adults visit Facebook at least once a month

LinkedIn offers similar opportunities and tools to Facebook, and access to many larger businesses. Though there are fewer users on LinkedIn than Facebook, most users are business centric, offering a compelling B2B opportunity for many commercial agencies and brokers. Like Facebook, LinkedIn offers some robust ad tools for agency owners and marketers. They also offer an attractive publishing platform to share content, and with their premium membership, some direct prospecting opportunities for producers. Some notable LinkedIn stats include:

  • Now at 433 million members
  • Over 100 million members access the site monthly
  • More than 1 million members have published content on LinkedIn
  • Over 3 million companies created LinkedIn accounts
  • 17% of US small businesses use LinkedIn

Many insurance agencies are just beginning to take advantage of social media platform opportunities. Some may feel they don’t understand it well enough, while others question if their prospects and clients pay attention to these new repositories. But the verdict has been rendered. As Facebook and LinkedIn cumulatively approach two billion users, it’s extremely likely that many, if not most, insurance agency prospects and clients are now engaged in some manner on these platforms. This number increases proportionately with younger (read that as more digital) insurance buyers. Many agencies are now leveraging LinkedIn, Facebook and other social media platforms to increase lead generation and improve client retention. For agencies which have yet to create professional company pages and profiles, consistent posting, and lead gen ad campaigns, the ship is sailing and it’s time to find a way to get on board. Agencies and brokers interested in a complimentary web marketing and lead gen review are invited to contact the insurance marketing experts at StartUpSelling.

Statistics gleaned from a wide variety of Internet sources including Facebook and LinkedIn