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Social media for the insurance broker

Thursday, 8 December 2016

Whether you have a robust book or you are still building it, using social media as a tool to benefit your business is a great idea. Read on if you need a social media strategy outline.

Having an online presence is crucial for any business. Consumers are expecting you to be online. Not only do they rely on social platforms to offer information; there has also been an increased demand for servicing via these channels. Zywave, an insurance broker software company in the UK, lists four reasons why businesses need social media:

  1. Everyone is doing it. Your closest competitors are probably scooping up clients online that could have been added to your book.
  2. Many consumers look for businesses on social media.
  3. You can build a reputation and influence people for a smaller cost (compared to traditional mediums).
  4. Social media is a great engagement tool, which can connect you to clients at more opportunities.

Where to start

So, how can insurance brokers use social platforms for business? The first step is to find out where your target market hangs out online. The big names might not always cater for your audience, writes riskheads.org. Your location and business focus will determine which platform will work best. Remember; better a targeted method than huge, faceless numbers.

Then, make sure you’re marketing yourself, and not advertising. “An honest content strategy can be [very beneficial] for engaging and keeping an audience. There is no short-cut.” (source: riskheads.org). This means that you have to establish a good reputation through content sharing, as well as communication to (possible) clients. Only share valuable, easy-to-understand content that will add value to the consumer. Keep your communication open and honest, and be available to assist each individual when they need your advice most.

The benefits

Over and above the benefits already mentioned, you can expect increased business through referrals and many cross-sell opportunities – for a very minimal cost. If you’re successful in your social media business pursuits, you could secure clients’ loyalty, increase profits, and position your offering in this very competitive industry.

Gone are the days where technology is a thing of the future. Start with the basics of social media for your business today and make the most of this opportunity to connect.

Sources:

Why social media for insurance brokers
Making social media work
Insurance brokers use of social media on the rise

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